What Are The Effects Of Petroleum Environmental Sciences Essay

What Are The Effects Of Petroleum Environmental Sciences Essay Is a process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of communication and trade. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. However, globalization is usually recognized as being driven by a combination of economic, technological, socio-cultural, political, and biological factors. The term can also refer to the transnational circulation of ideas, languages, or popular culture through acculturation. 1.2 Petroleum Industry The petroleum industry includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics. The industry is usually divided into three major components: upstream, midstream and downstream. Midstream operations are usually included in the downstream category. Petroleum is vital to many industries, and is of importance to the maintenance of industrial civilization itself, and thus is a critical concern for many nations. 1.3 Current Situation Reliable Source of Energy: Petroleum is still the most reliable source of energy. Although renewable sources of energy do exist, but the extent to which they can replace petroleum and the possible environmental damage they may cause is not known and controversial. For transportation use high energy density liquid petroleum cannot be replaced by sun, wind, geothermal and other renewable electricity sources. Environmental Pollution: One of the most prevalent sources of environmental degradation in the industrialized world is the petroleum-derived contaminants. In large concentrations, hydrocarbon molecules that make up the petroleum products are highly toxic for the living organisms. Petroleum also contains some amount of sulphur and nitrogen compounds, which when react with the environment they produce secondary poisonous chemicals. Oil Spills: Oil spills are most visible source of petroleum pollution. During transporting crude oil from one country to another these oil spills occur. Oil travels for long distance by either ocean tanker or land pipeline. Oil spills also occur at areas where oil is extracted. Massive quantities of petroleum are released into land and marine ecosystems when there is a tanker, pipeline or oil well accident. Small spill near shore is more harmful for marine organisms then a large oil spill in the open ocean. Global Warming: Petroleum fuelled transportation is considered as one of the chief reasons of global warming. Greenhouse effect is created by the capture of excess amounts of carbon dioxide, methane and nitrogen oxide. Carbon Dioxide even though is not a toxic, but its the main constituent of petroleum fuel exhaust. About one-third of carbon dioxide emitted in the air every year comes from exhaust of vehicles. Whenever crude oil is extracted, transported, refined or stored methane is also emitted. Lesser Carbon-Dioxide released compared to Coal: Lesser amount of carbon dioxide is released in environment by burning petroleum as compared to coal. So coal has more harmful effects on environment than petroleum. 1.4 Recent Trends Decrease Dependence on Petroleum Energy efficient engines and hybrid gas/electric cars help to reduce some need for oil. It provides better gas mileage and less demand. Renewable Energy Petroleum companies are now investing in renewable energy products and services. There are little or no greenhouse gas emissions through renewable sources of energy and they do not contribute towards formation of smog, acid rain or other hazardous air pollutants. In growing number of applications, renewable sources of energy are used and they have many environmental benefits as well as increased local opportunities. Recycling Used Oil: Used Motor oil can be reprocessed into fuel. Two gallons of used oil can generate enough electricity to run the average household for 24 hours. These days the petroleum companies are providing convenient used oil collection sites at their service stations. Recycling used motor oil conserves a valuable resource as well as it keeps the surface waters and groundwater supplies safe from potential contamination due to improper disposing of used oil. 1.5 Opportunities Reduce impact and occurrence of oil spills: The oil companies should dispose of their waste products carefully and maintain their equipment in peak conditions. For downstream petroleum industry protecting land and groundwater is their priority. Designing environmental friendly disposal solution: Distributors and refiners should work closely with the government authorities to design environmental friendly disposal solutions. These would allow more used oil to be recycled or reused in an environmentally safe manner. Recycling used oil: Used oil can be recycled many times which means less new materials are consumed. Hence refining is more practical. 50 per cent less energy is consumed in re-refining used oil than producing motor or lubricating oil from unrefined crude. Reduce natural gas flaring and implement new emissions estimation and tracking tools: Oil companies have to reduce natural gas flaring in order to cut emissions (while also adding to energy supplies) and  they have to store Carbon Dioxide underground, so that it can be safely preserved for many year. The oil and gas companies should also implement new emissions estimation and tracking tools so that it would enable them to assess how well they are meeting the goals set for themselves and  report  progress to the public. Refinery cleaning: Oil companies should clean up their refineries. They should reduce their air and water emissions. Gasoline should be reformulated to bum cleaner, which would dramatically cut the levels of lead, nitrogen oxide, carbon monoxide, and hydrocarbons released into the air. 1.6 Threats Alternative Fuels: There are wide variety of alternative fuels developed like ethanol, biodiesel (made from vegetable oil), and hydrogen. They produce little or no green house gases and exhausts. Renewable Sources of Energy: Renewable sources of energy like solar power, bio fuels, geothermal energy, and wind power are available nowadays. Companies are now working with the automakers and government agencies on new fuel and vehicle technology. Global Warming and Environmental Pollution: One of the most prevalent sources of environmental degradation in the industrialized world is the petroleum-derived contaminants. In large concentrations, hydrocarbon molecules that make up the petroleum products are highly toxic for the living organisms. Petroleum also contains some amount of sulphur and nitrogen compounds, which when react with the environment they produce secondary poisonous chemicals. Petroleum fuelled transportation is considered as one of the chief reasons of global warming. Greenhouse effect is created by the capture of excess amounts of carbon dioxide, methane and nitrogen oxide. Carbon Dioxide even though is not a toxic, but its the main constituent of petroleum fuel exhaust. About one-third of carbon dioxide emitted in the air every year comes from exhaust of vehicles. Whenever crude oil is extracted, transported, refined or stored methane is also emitted. Oil Spills: Oil spills are most visible source of petroleum pollution. Massive quantities of petroleum are released into land and marine ecosystems when there is a tanker, pipeline or oil well accident. Small spill near shore is more harmful for marine organisms then a large oil spill in the open ocean. 2.0 INFLUENCE OF GOVERNMENT OVER ENVIRONMENT United Nations Environment Programme The United Nations Environment Program (UNEP) coordinates United Nations environmental activities, assisting developing countries in implementing environmentally sound policies and practices. It has to co-ordinate the development of environmental policy consensus by keeping the global environment under review and bringing emerging issues to the attention of governments and the international community for action. They cover wide range of issues regarding atmosphere, marine and terrestrial ecosystems. They have aided in the development of guidelines and treaties on issues such as the international trade in potentially harmful chemicals, trans-boundary air pollution, and contamination of international waterways. Government Regulations and Petroleum Industry The U.S government provides financial support for exploring alternative sources of energy like renewable sources of energy. They provide grants to researchers so that they can experiment with renewable energy technology. The Department of Energy has developed a grant-based research project called the Climate Change Technology Initiative. Through this CCTI project, researchers help to find ways of reducing the emission of greenhouse gases. A partnership was formed between the U.S. government and major automobile manufacturers in U.S with the hope that technology developed through this research would help in reducing the amount of carbon dioxide emitted from automobiles in the United States. This grant also helps in supporting other experiments in the field of renewable sources on energy. OPEC supports the use of CCS technology. CCS technology has the potential of reducing emissions by 40%. A need exists for companies to learn more about the CCS process and the different technologies that may be used. Hence, OPEC is further advocating the development of CCS technologies along with the Carbon-Dioxide enhanced oil recovery. Living in a carbon-constrained world has lead to changes in policy priorities in industrialized countries. Many companies and countries have already implemented policies to limit the use of petroleum products in order to reduce carbon dioxide emissions. However other energy sources (like coal) have far greater carbon emissions than petroleum. 3.0 Summary Energy is what moves the world. And many energy resources have been relied upon for ages, to make our lives convenient and comfortable. Petroleum is one such energy resource.   Energy, environment and associated global warming concerns are the focus of raging debates as the global climate system impacts the political climate. The impending energy crisis and the soaring oil prices have their roots in the fast depleting non-renewable source of energy: petroleum. Petroleum takes the spotlight as the worlds primary energy resource as the petroleum industry produces indispensable gasoline and other fuel derivatives. Petroleum is considered a major building block for the economy as well. Therefore the petroleum industry, generating bulk-volume products by way of gasoline and fuel oil, is of paramount significance when issues related to energy or ecology are at the center of current public and world affairs. Petroleum has been the critical element for development of numerous industries in the last two centuries. The receding supply of petroleum has sparked off the search for crude through offshore drilling.   The process of oil exploration with offshore drilling is a tedious and intensive one.   Oil wells are dug miles into the earth or the sea shore in the hope of finding natural gas. Oil and gas have been much under the spotlight because the global specter of rising oil prices strains the economies of the world. Recommendations The oil companies should dispose of their waste products carefully and maintain their equipment in peak conditions. For downstream petroleum industry protecting land and groundwater is their priority. Used oil can be recycled many times which means less new materials are consumed. Hence refining is more practical. 50 per cent less energy is consumed in re-refining used oil than producing motor or lubricating oil from unrefined crude. Distributors and refiners should work closely with the government authorities to design environmental friendly disposal solutions. These would allow more used oil to be recycled or reused in an environmentally safe manner. Oil companies should now invest in alternative fuels like ethanol, biodiesel (made from vegetable oil), and hydrogen. Oil companies need to look for renewable sources of energy like solar power, bio fuels, geothermal energy, and wind power. Oil companies should also reduce its demand by increasing their efficiency.

African Folktales Essay

In the actual Nigeria tribe African folktales, form a very important part of the African culture. There are different ways in how those folktales affect the African culture in general; one of this ways is that it’s used as a way of communicating. There is a rich, fertile legacy of folklore from Africa. On this vast continent, folk tales and myths serve as a means of handing down traditions and customs from one generation to the next. The storytelling tradition has thrived for generations because of the absence of printed material. Folk tales prepare young people for life, as there are many lessons to be learned from the tales from the history of this large continent, this includes the forceful transplanting of the people into slavery on other continents. In addition to the folk tales, there are myths, legends, many proverbs, tongue twisters, and riddles. In the African folk tales, the stories reflect the culture where animals abound; consequently, the monkey, elephant, giraffe, lion, zebra, crocodile, and rhinoceros appear frequently along with a wide variety of birds such as the ostrich, the secretary bird, and the eagle. The animals and birds take on human characteristics of greed, jealousy, honesty, loneliness, etc. Through their behavior, many valuable lessons are learned. Also, the surroundings in which the tales take place reveal the vastness of the land and educate the reader about the climate, such as the dry season when it hasn’t rained for several years, or the rainy season when the hills are slick with mud. The acacia trees swaying in a gentle breeze, muddy streams that are home to fish, hippos and crocodiles, moss covered rocks, and giant ant hills that serve as a â€Å"back scratcher† for huge elephants, give the reader a sense of the variety of life in this parched or lush land in this part of the world. There is wealth of folktales in the African culture of different kinds some examples of them are: Uncle Remus Tales, Tortoise and the Hare, Crocodile Tales, The voice of the Drums, The Kind of Lion, String Tales, The Sacred Vulture, Anansi, and Dilemma Tales. Those kinds of tales above are just some examples of the huge African folktales repertory, and the subcategories which take a major role in the African and Nigerian culture and society, reflecting the animals that abound there. In conclusion, I can say that folktales plays an important role in the African Society, even more than books or other kind of source, this is because in Africa are very few resources of written history, so they know more about their history via these folktales; without folktales, African history may be inexistent CITATIONS: Achebe, Chinua. Things Fall Apart. New York: Random house, Inc., 1995 http://www.teachervision.fen.com/folk-tales/resource/3716.html?page=1&detoured=1

Module 1 Slp . Introduction To Research Methodologies .

Module 1 SLP Introduction to Research Methodologies MAE 504 Research Methods in Education Dr. Wilson Tiaqunia Hayes Your task for the Module 1 SLP assignment is twofold: FIRST, fill in the matrix with information pertaining to the following items: identify the type of research represented by each methodology listed in the matrix (i.e., quantitative, qualitative, or mixed methods) describe the purpose of each research methodology listed in the matrix, provide an example of a research problem for each methodology listed in the matrix SECOND, write a 3- to 4-page narrative essay in which you address the following items: discuss what constitutes a research problem, compare and contrast the strengths and weaknesses of quantitative†¦show more content†¦Once your topic has been identified and vetted for previous related studies, relevancy, and researchability, you than can move on and figure out which type of research procedures that you will take to obtain your answers. Next you will need to decide on how you will obtain and analyze your research data. This process will be determined by the type of research problem that was define in the beginning of the research development and revolve around your hypothesis or desired results (M., 2004). You will have annotate and share the results of your data collection. This after action report of the obtained data will allow the researcher to determine whether or not the desired results were obtained or will there need to be some follow on research in order to generate expanded results. Two of the research methods that are used on a regular bases are the qualitative and quantitative research methods. Each have their own advantages and disadvantages and are used based off of the define research problem and what answers the researcher is aiming or prepared to discover. Not all research and data are created equal and neither are the methods that are used to collecting and analyzing the data. The qualitative research method uses an interactive research model that is aimed to providing a flexible means of data collection through observation and social reliance (Johnson, Quantitative, Qualitative, andShow MoreRelatedTransforming Total Sales into Net Profits51271 Words   |  206 PagesProfits Gerald I. Kendall, PMP Copyright  ©2005 by Gerald I. Kendall ISBN 1-932159-38-X Printed and bound in the U.S.A. Printed on acid-free paper 10 9 8 7 6 5 4 3 2 1 Library of Congress Cataloging-in-Publication Data Kendall, Gerald I. Viable vision : transforming total sales into net profits / by Gerald I. Kendall. p. cm. Includes bibliographical references and index. ISBN 1-932159-38-X (pbk. : alk. paper) 1. Sales management. 2. Marketing—Management. 3. Corporate profits. 4. Corporations—Growth—Management

Video Games And Its Effect On Society - 1050 Words

Ever since video games emerged as a mainstream media source, society has been skeptical about their worth in society. Whether it’s their violence or their messages, people have blamed games for a wide number of things from causing gang violence to school shootings. However, one thing that is talked about significantly less is the correlation between video game difficulty and our work ethic as a society. Games with a fixed difficulty, like Dark Souls, don’t allow players to make the game easier because they are unable to succeed, thus forcing them to solve problems and think about new ways to get passed difficult parts. A mentality that has become more popular in today’s society is the â€Å"Everyone is a Winner† mentality. When kids are young, they often are encouraged to join sports teams or events to make friends and learn social skills. In childhood sports, usually everyone who plays gets a metal or award of some sort, regardless of if they win or not. That’s not fair to the winning team, who obviously trained in order to win, whereas the team that lost might of slacked off instead. Consolation prizes show how we reward people for trying, not actually succeeding. Where this shows that trying is important, it also undermines the value of persevering to get better at something. It stands to reason that things like consolation prizes generate an attitude that things should be given to you if you just try repeatedly and not ever improve. That ideology is what people seem toShow MoreRelatedVideo Games And Its Effects On Society1463 Words   |  6 Pages Movies, video games, music and television shows come in different genres. However, depending on age in regards to youth not just anyone is allowed to: watch certain movies, buy just any video game, listen to any music or watch any tv show. Sometimes they can see certain movies with a parent or guardian. Seeing violence in excess causes violent acts to take place in society because it gives ideas to viewers or listeners especially those who are young. This the reason there are ratings for mediaRead MoreVideo Games And Its Effect On Society Essay1380 Words   |  6 Pagesthe 1970’s, video games in America have been controversial. Currently around 97% of America s children play video games in some form; from home consoles such as Xbox, to personal computers and mobile games on smartphones, even in an educational form, video games are nearly everywhere and bringing in big money. Around $21 billion is being funneled into a domestic video game industry. But what are these kids viewing when playing video games and how does that affect their role in society? A commonRead MoreThe Effects Of Video Games On Society1274 Words   |  6 PagesViolence in video games can affect ones mindset in so many different ways, where we don’t even realize it. For example playing â€Å"Grand Theft Auto† for a few hours will change your mindset. Even though it wouldn’t be in a tremendous way, but for a few minutes your mindset will think, â€Å"This game is so much fun, I want to steal cars, have police chase me, shoot at people, even steal helicopters†. According to Social scientists in the New York Times, Many studies have shown that this is becoming a majorRead MoreVideo Games And Its Effect On Society1525 Words   |  7 Pagesâ€Å"The reason why people find it so enjoyable is that games are usually the right degree of challenging and the player takes an active role (unlike watching television) so there is an incentive to achieve† (Gee) . Ever since video games were invented there was an immediate attachment and an unwillingness to release them. They present chances to accomplish things one may not be able to do in their life, and provides an escape from reality. Video games also imprint and teach new skills to the gamers whoRead MoreVideo Games And Its Effect On Society980 Words   |  4 PagesAs a growing medium, video games are often associated with various negative connotations that have obfuscated its positive contributions made to society. As a result, the general public is unaware of how video games have shaped modern-day, some even consider it a meaningless teenager pastime, but this is distant from reality. Video games are important to society at large because they do not serve for entertainment purposes only, they are a major force in the economy, scientific research, and militaryRead MoreVideo Games And Its Effects On Society1588 Words   |  7 PagesSince the creation of Spacewar in spring of 1962, vi deo games have dramatically improved along with technology. It has become the most popular way of entertainment in modern civilization, but it also has become a subject of public concern regarding to its negative effects on peoples psychological and physical problems, especially in children and teens. Video games are now recognized by a study as an addiction according to the journal Psychological Science: â€Å"Researchers used data on 1,200 childrenRead MoreVideo Games And Its Effects On Society2285 Words   |  10 PagesFrom the inception of Pong to the latest chapter of the video game series Assassin’s Creed, virtual gaming has been scorned and shunned as a detriment to society. Older generations speculate that incessant gaming in young children insinuates violence, antipathy, lack of creative initiative, and develops an unhealthy isolation from the real world. However, in recent years, these postulates have been put to the test; a number of scientists have conducted ex perimentation in order to discover whetherRead MoreThe Effects Of Video Game On Society1466 Words   |  6 PagesFor generations games have been an important part of our culture. Many of these games center on war and strategic tactics. Boys and girls have played soldier, Cowboys and Indians, Monopoly, or Chess . Through games such as these the future men and women of society learned strategy and the consequences of controlling and restraining themselves because their actions had consequences. However with the invention of the computer high definition graphics, these games, and many others have been createdRead MoreThe Effects Of Video Games On The Society859 Words   |  4 PagesAccording to a U.S Study by Rideout Et Al (As Cited in Anderson Bushman 2001.a), the popularity of video games is rapidly increasing. In a U.S study by Butchman Funk (As Cited in Anderson Bushman 2001.b), Around 60 percent of 4th grade girls prefer violent games and about 3 out of every 4 boys with a similar age also prefer ferocious ones. This essay will argue that violence in video games should be censored. For the purpose of this essay, violence can be defined as the physical force intendedRead MoreVideo Games And Its Effect On Society1298 Words   |  6 PagesIntroduction During the advent of video games, the world was taken by storm, as this new type of entertainment caught the attention and imagination of the populace; but as this attention grew, concern and scrutiny weren’t far behind. Controversy finally got its chance in the 1990s, when games finally upgraded to 16-bit, giving them the ability to depict realistic blood and gore in games like Moral Kombat; which was criticized for excessive violence, a reason Congress used to create the Entertainment

The Oligopoly Theory - 2874 Words

Running head: Oligopoly Theory The Oligopoly Theory OPERATIONS MANAGEMENT Table of Contents Abstract†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Oligopolistic Competition†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...5 Characteristics of an Oligopoly†¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....6 Models of Oligopoly Behavior†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Conclusion†¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...11 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..12 Abstract The goal of this research paper is to provide an overview of the theory of oligopoly and its effect on the global economic stage. We will review what results when there are fewer companies in†¦show more content†¦When a company suddenly loses market share, which is tantamount to a company eventually closing its doors. Hence, when one a company lowers its prices, increases its ability to produce or opens a new channel, it forces the other companies to react accordingly or risk losing market share (Dubovik Janssen, 2011). Interestingly enough, this mimicking behavior creates an â€Å"interdependence† among the oligopolistic companies. Economists, due to this behavior of these companies, have been incapable of developing a respectable oligopoly theory. Since there are only a limited number of competitors, these companies are acutely aware of the resulting effects of their decisions has on the other companies. Characteristics of an Oligopoly According to Salvatore, th e oligopoly market structure is most predominant in the manufacturing segment of the industrialized countries which includes the United States (2007). Some types of oligopoly companies are â€Å"steel, automobiles, aluminum, soaps and detergent, glass, cigarette, electrical equipment and breakfast cereals† (Salvatore, 2007). The following are some of the recurring characteristics of an oligopoly: (1) only a few firms participate in a particular market place but bigger than the typical company as it pertains to the size of the companies, (2) these firms offer similar products and/or services or somewhatShow MoreRelatedGame Theory and Oligopoly Fall2627 Words   |  11 PagesChapter 15 - Oligopoly Fall 2010 Herriges (ISU) Ch. 15 Oligopoly Fall 2010 1 / 25 Outline 1 Understanding Oligopolies 2 Game Theory The Prisoner’s Dilemma Overcoming the Prisoner’s Dilemma 3 Antitrust Policy Herriges (ISU) Ch. 15 Oligopoly Fall 2010 2 / 25 The Oligopoly Monopolies are quiet rare, in part due to regulatory eï ¬â‚¬orts to discourage them. However, there are many markets that are dominated by a relatively few ï ¬ rms, known as oligopolies. The termRead MoreOligopoly: Pricing and Game Theory2519 Words   |  11 PagesFor example, if a petrol retailer like Texaco wishes to increase its market share by reducing price, it must take into account the possibility that close rivals, such as Shell and BP, may reduce their price in retaliation. An understanding of  game theory  and the  Prisoner’s Dilemma  helps appreciate the concept of interdependence. Strategy Strategy is extremely important to firms that are interdependent. Because firms cannot act independently, they must anticipate the likely response of a rival toRead MoreQuestions On Asian Grocery Stores1484 Words   |  6 Pagesmarket of being oligopolistic. For secondary research, the theory of market structure will be introduced. Specifically, the market theory of oligopoly and monopoly will be explained because the central assumption is that the grocery stores are operating in an oligopolistic market. Table of Content ABSTRACT INTRODUCTION HYPOTHESIS METHODOLOGY SECONDARY RESEARCH AND ANALYSIS Assumptions of the Theory Number of Firms Barriers to Entry Product DifferentiationRead MoreMarket Strategy Case Study: Katrinas Candies1665 Words   |  7 PagesKatrinas Candies would be successful operating in an Oligopolistic Structure. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry. The market can be dominated by as few as two firms or as many as twenty, and still be considered oligopoly. With fewer than two firms, the industry is monopoly. As the number of firms increase (but with no exact number) oligopoly becomes monopolistic competition. Because an oligopolistic firm is relativelyRead MoreStand up comedy industry Essay1377 Words   |  6 Pages1980s can be characterized as an oligopoly â€Å"The structure of a market, thus how a market is functioning, â€Å" is the concept behind the industrial organization theory†. The Industrial Organization (IO) theory is about, how a structure of a market has an influence on the strategy and decision making of a company.† 1 The theory therefore focusses on the market wherein the company operates and links the decisions of the company to the market. In the economic theory of industrial organisation, an industryRead MoreEssay on International Business Structure963 Words   |  4 PagesThere are four theoretical constructions relating to market structures, these are oligopoly, monopoly, perfect competition and monopolistic competition. Each theory has its individual assumptions and norms. In turn, these theories will be analysed, compared and contrasted with real life examples. The market structure related to each business reflects the profit maximisation and productions of the firms. The demand curve will also var y depending on the market structure; MC=MR. Perfect competitionRead MoreTypes of Competition1000 Words   |  4 PagesEconomic theory usually differentiates across the four major types of market structure: monopoly, oligopoly, monopolistic competition, and perfect competition. Although the list of market structures can be virtually unlimited, these four types are considered to be the basis for understanding the principles of market performance in different market conditions. Each of the four types of market structures possesses its benefits and drawbacks. In any of these markets, an entrepreneur can develop a strategyRead MoreMonopolies, Oligopoly, Monopolistic Competition, And Perfect Competition1085 Words   |  5 Pagesunderstand what barriers are occurring in the market. The different market structures are Monopoly, Oligopoly, Monopolistic Competition, and Perfect Competition. Understanding these different type of market structures helps to better understand what type of market is currently occurring. A monopoly is when the companies are state owned and there is no other entry allowed into the market. An oligopoly is when there are many buyers with few sellers which is what makes for tough competition. MonopolisticRead MoreThe Market Structures Of A Market Structure962 Words   |  4 Pagesone another to create the demand and supply of the market. However, these market structures have some unique traits that no other theory can have alike. Therefore, a comparison and contrast is necessary to distinguish each of these theories from one another. These market structures of the economy are perfect competition, monopoly, monopolistic competition, and oligopoly. These market structures will reveal the difference and similarities that each one has. Firstly, the perfection competition isRead MoreEssay on Market Structure829 Words   |  4 Pagesdecisions. There are four theories of market structure. These theories are: nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;†¢nbsp;nbsp;nbsp;nbsp;nbsp;Pure competition nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;†¢nbsp;nbsp;nbsp;nbsp;nbsp;Monopolistic competition nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;†¢nbsp;nbsp;nbsp;nbsp;nbsp;Oligopoly nbsp;nbsp;nbsp

Full Summary of the Goal Free Essays

string(51) " figures that Jonah gave him to their own company\." Full Summary of The Goal Chapter 1 The Goal by Eliyahu M. Goldratt is about a man named Alex Rogo and his quest of knowledge to make his company once again profitable. The first chapter begins with Alex coming into work only to notice someone is parked in his spot. We will write a custom essay sample on Full Summary of the Goal or any similar topic only for you Order Now He then realizes that the only person who would do this is Bill Peach who is the division’s vice president. Once he is in the office he finds out that Peach is there to figure out the status of the order number 41427 which is seven weeks late. Then once Rogo and Peach start talking; Peach informs Rogo that his company is loosing money. Next Peach states that he only has three months to turn the company around. Rogo then goes back to the issue at hand number 41427. Chapter 2 Rogo then heads home that afternoon to get something to eat. He meets his wife in the living room. She wants to go out to get something to eat with him, but he tells her he can’t because his problems at the plant he has to get right back. They get into an argument and she cries then he consoles her and tells her he will be back later that night. Once he gets back to the machine that he learned was down before he left he talks to someone in the plant asking if they are going to make the order and the plant worker said â€Å"maybe. † At 11 pm the order leaves the dock to be shipped they sigh in relief. He leaves work to get a bite to eat with a plant worker to celebrate. Then Rogo remembers that his plant is loosing money and contemplates why. His efficiencies are good but he can not put his finger on what is causing the problem. Chapter 3 He wakes up the next morning and has to go to a meeting that Peach has called, but will not tell anyone what it is about. On his way to the elevator he begins to talk to Nathan Selwin a co-worker. Nathan begins to tell him quietly that the whole division is going to go down if Peach doesn’t do something about it. During the meeting Rogo decides he should start paying attention so he reaches for a pen, but instead he pulls out a cigar. He doesn’t smoke anymore so he wonders where it came from, and then he remembers! Chapter 4 It was two weeks ago at the airport he recognized his old friend who was a physicist, Jonah. They begin to talk and catch up with what each other are doing these days. Rogo tells Jonah that he is a plant manager for UniCo and Jonah seems to be more interested in that. They begin to talk about the robots that were recently installed in the plant. Rogo tells Jonah that the robots have increased plant productivity, but after Jonah asks a few questions Jonah disagrees. Jonah tells Rogo he is not running as efficient of a plant as he thinks he is. Jonah tells him to think about what the goal of his plant is before he leaves. Chapter 5 Rogo is still in the meeting thinking it is a waste of time and wonders why he is still there. Rogo bails on the meeting during the break to go back to the plant, but passes it up. He instead gets food and goes sit on a hill and thinks about what Jonah told him two weeks ago. After pondering a few different things he comes to the conclusion that making money is the goal of the company. Chapter 6 Rogo finally returns to the plant at 4:30 that evening. In his office he inquires Lou the plant’s controller about the goal of the plant. Lou agrees that it is to make money. They continue to talk about the measurements that are used to tell if a company is making money. He finally realizes how late it is at work and calls his wife and they get into an argument again. Rogo finishes talking to his night time manager then heads to the house. Chapter 7 He gets home to meet his daughter still up to show him her report card which was all A’s. He puts her to bed then begins to think about the business again. He knows he only has a little time to turn things around, but he needs to know so much more. This is when he decides he needs to talk to Jonah again. Chapter 8 Once he gets to work in the morning he finds out Peach is on the phone. Peach chews him out for walking out on the meeting then continues to keep him in meetings on the phone for the rest of the day. He decides to go to his mother’s house to look for his old contact book to try and track down Jonah. He finally gets a hold of Jonah after talking to many other people. Jonah then gives Rogo 3 measurements with specific definitions to calculate the goal. The conversation gets cut short again and he leaves Rogo to figure out how to define the measurements in terms of his plant. Chapter 9 The next morning he gets to work late and goes straight to Lou’s office to discuss about the new figures Jonah has given him. They then bring in the Inventory manager Stacy and Bob the supervisor in the plant to discuss more about the figures. They figure out a few things are wrong according to the goal and then Rogo decides to discuss what he has been talking to Jonah about. Chapter 10 Once he has cleared the air about Jonah and explained to him everything that they have talked about they start again. They begin to compare the figures that Jonah gave him to their own company. You read "Full Summary of the Goal" in category "Papers" He tells the workers about how he only has three months to get the plant to make money. They then decide to call Jonah again. Rogo and Jonah decide to meet in New York. Chapter 11 The next morning he meets up with Jonah in the hotel in New York. They begin to talk about the goal and the problems at the plant again. The next two figures that Jonah tells him about are statistical fluctuations and dependent events. He explains how these affect his plant the runs out of time again and has to leave. Chapter 12 He returns home from New York to find his wife at home who he has been calling like crazy with no answer. They once again get into a heated argument to once again resolve it. Rogo promises to spend the weekend with his wife, but has to return to the plant for the time being. Chapter 13 Saturday morning he wakes up to see his son dress in a Boy Scout uniform. He remembered that he had promised to go on an overnight hike with him. The troop leader was sick so Rogo had to lead the troops. During the hike he notices the line spreading and closing and relates that to statistical fluctuations and then states that the dependent events of each scout cause them. Chapter 14 The troops decide it is time to stop for lunch. During lunch Rogo makes a game up to experiment with statistical fluctuations. He has the boys play it and he keeps record. He uses this to simulate the assembly line in his plant. Chapter 15 They continue the hike Rogo still comparing it to the plant. He decides to then change the leader to Herbie who is the slowest kid in the group. He thinks this will cut down the fluctuations in the group. Then they finally get to the campsite and set up camp. Chapter 16 Rogo and his son get home about 4:30 Sunday evening only to find an empty house and a letter from his wife that she had left him. He goes to pick up his daughter from his mothers house where his wife left her and then calls around to find where his wife is, but can not find her. Chapter 17 Rogo starts work on Monday morning to find out that Hilton has left a message. He needs his 100 parts by the evening, but Rogo doesn’t think he can do it. Then Rogo gets the crew together and starts talking about what he has learned during the Boy Scout trip. They are hesitant to believe him, but he ends up proving himself using the process of the Hilton order as an example. Chapter 18 The next day everyone is already in his office when he gets to work. They are ready to discuss the next step, but they do not know where to go from here. So they naturally decide to call Jonah. Jonah then tells them about bottlenecks and non-bottle necks. The conversation is quickly ended again then their only choice is to find these in their plant. They find out that their newest machine the NCX-10 is a bottle neck for the plant and also the furnace. Chapter 19 Rogo talks to Jonah yet again, but this time Jonah decides to come to Rogo’s plant. They tour the plant with Jonah and look at all the bottlenecks of the plant. Jonah gives suggestions on how to fix their bottlenecks to keep up with demand. He also shows them how they were calculating the cost per part of the bottlenecks wrong. Chapter 20 The group meets again in the morning. They have a discussion about what actions are going to be taken with the bottlenecks. They decide on a few things to start implementing in the plant. While these things are happening Rogo goes to talk to his wife which he found out is at her parent’s house. Chapter 21 Rogo gets home and decides to call his wife a make a date for Saturday and she is very happy to agree. He then returns to the plant and meets back up with the regular group. They then decide to implement a tagging system which will let the employees which parts have priority. Then Saturday he takes his wife on a date. Chapter 22 Rogo returns to work to find out that their plan is slowly improving their production. They are catching up on their late work orders. But, it’s not enough so he asks for more suggestions by the Wednesday meeting. On Wednesday Bob shows up to the plant with an old machine used to do what the NCX-10 does to take some of the load off. Chapter 23 Rogo is going on many dates with his wife these days and they are getting along a lot better. In the plant he finds out more about hold ups on the bottlenecks and solutions for them. They keep implementing these new solutions which improve the plants productivity. Chapter 24 The group decides to celebrate due to the new record they have set in orders delivered for the month. They go out and Stacey drives him home only to find his wife who thinks he is cheating on her, she takes off again. The next day at the plant Rogo is informed that new bottlenecks are forming throughout the plant. Rogo and his wife make up and he calls Jonah to get advise again only for him to say he needs another look. Chapter 25 Rogo picks up Jonah again from the airport for him to investigate yet another problem that the company is having with the bottlenecks. They suspect that there is another bottleneck forming in the plant, but Jonah thinks otherwise. Jonah explains how bottlenecks feed non-bottlenecks and vice versa and that is where their problem lies. Chapter 26 At home again Rogo is thinking about how to apply what he has learned from Jonah. His children asked if they can help and they do in fact more than they think. The group got together with Jonah and devised a new schedule that would predict when items would be finished and when some needed to be released. Then Rogo brings Jonah back to the airport. Chapter 27 Rogo is in a meeting with Bill Peach and others from UniCo when they say that his division is the only one profiting now. He meets with Bill in the office one on one and they decide that if Rogo raises his bottom line 15% more than Bill will not shut him down next month. He decides to go to visit his wife and kids since he has not seen them in a while. They get in another argument about their marriage and then make up. Chapter 28 He gets home only to the phone ringing, its Jonah; he says that he will not be able to talk to Rogo for a few weeks so he needs to talk to him now. Jonah suggests cutting the batch sizes in half. They discuss this suggestion over a nice meal. Rogo then has a meeting with Johnny johns telling him how much faster he can produce products and he needs more contracts. Chapter 29 Rogo wakes up in the middle of the night after a nightmare all he can think about it the plant and how the figures make it look like cost is going up when actually they are doing the opposite. Lou comes in his office the next morning saying he can solve the cost problem to buy them a few months, but it’s not valid according to the accounting department so it would be a risk. Jons calls him back with an offer to do 1000 model 12’s in 2 weeks, but Rogo decides that it is impossible, but they could do 250 a week for 4 weeks and they get the account. Chapter 30 At the beginning of the new month they are having their meeting and Lou comes in with the figures and states that they have hit the 15% mark plus a little more. Rogo goes away for two days and comes back to find they are shooting a TV program about their robots. He slips up about the new batch sizes and the figures to Hilton and begins to get audited by the company. During the meeting a helicopter shows up its Mr. Burnside who had the big order he wanted to congratulate everyone in the plan for doing such a great job. After all this he decides to go visit his wife and they decide to get back together. Chapter 31 The meeting is held to determine whether or not Rogo’s plant was going to be shut down. In the meeting Hilton does not listen to what Rogo has to say and condemns his plant. Rogo out of a last hope goes to Peaches office and tries to convince him when Peach had already made up his mind that it was going to stay. Also, Rogo was going to get a promotion to Peaches position and Peach was moving up also. Chapter 32 Rogo and his wife sit down at dinner to celebrate his promotion. They talk about how he worked hard with Jonah’s help, but they couldn’t help but wonder why he couldn’t do it on his own; it all seemed like common sense. Chapter 33 Rogo goes back to his old plant in his new position. He first talks to Lou, then Bob, next Stacey, and last Ralph. One by one he is giving them promotions. Chapter 34 The group once again gets together. This time it is different though now they are talking about how they are going to take action toward the whole division instead of one plant. Chapter 35 They continue to discuss the topic at hand this time comparing it to the scientist from history, Mendeleev. Then the goes home to talk to his wife who has been reading Socrates. Chapter 36 They meet once again trying to put what they did in the plant to rules they can follow. They develop a five step process of evaluating and fixing problems in the divisions. Chapter 37 They continue to make changes and developments to the rules that they have made getting them ready for action. Chapter 38 Rogo is asking Johnny for more sales for his plant to see if everything they implemented is working correctly. They now decide to expand their market to Europe at a cost lower than they are selling here. Chapter 39 Rogo gets a call from Peach to discuss his new actions and to discuss the fact that he knew Hilton’s plant was going to lose its bottom line. He also can not understand how Rogo’s system works so he has him come down to teach him. Chapter 40 They all go to head quarters to tackle the issue at hand. Rogo figures out he is on his own now. He can’t ask for Jonah’s help or else he would never be able to go through the thinking process for himself. How to cite Full Summary of the Goal, Papers

Essay about the Risk Management

Question: Write an essay about theRisk Management. Answer: Introduction Risk affects the smooth running of the organizations. To sustain in the competitive business environment, taking suitable initiatives to mitigate the risks is very essential. The various risk factors of the organizations lead to cause decrease in the production and profitability of the organizations. For mitigating the risks of the organizations, identification of the suitable risk management procedures is also very essential. On the other hand, it can be said that to mitigate the risk within the organisation most of the company relies on several risk management factors. Apart from all different factors the three main factors or elements of risk management process within the organisation are Stakeholder management, Communication and consultation. In perspective of this, it is once in a while extremely shocking that the administrative approach in the development organizations can in any case recognize examination and react to such hazard. These days, there are numerous apparatuses acc essible which can manage the basic hypothesis idea of danger which recognize and oversee hazard(Boesso and Kumar, 2016). Danger administration also can be described as the viable formalization framework which deals with the danger exercises in the organizations. In this essay the researcher will highlight on these elements and their impacts in the risk assessment process within the organisation. Main Body Analysis According to the project manager body of knowledge (PMBOK), stake holders of any company means the persons who are actively involved with the business process of the organizations. Stakeholder purchasing in the organisation is vital task for any organisation and their fruitful task completion, including incline and Six Sigma actions. A main source of business or project disappointment, in any case, is carelessness to those stakeholders with the best impact over execution and maintainability(Crouhy, Galai and Mark, 2000). Successful administration requires proactive and progressing stakeholder engagementincluding unique proof, correspondence and riskassessment, and dynamic shared effortall through the business life cycle. From the market survey it can be observed that stakeholder management starts by recognizing people and gatherings the project and business influences. To distinguish a complete rundown of stakeholders, the undertaking group needs to assess people or gatherings that add to or get esteem from the project or the business. The group have to reviewstakeholders for their impact, the degree to which they are influenced and their conducts toward the course(Das and Das, 2006). Stakeholders' points of view, association and capacity to impact the business may change all through its length and scale. Groups have to recognize stakeholders in the business plan stage, as well as infrequently all through the business. Repeating stakeholder examination will help the group decide the right way to deal with compelling stakeholder correspondence, risk moderation and engagement all through the business or the project. At each new stage, the group needs to return to the stakeholder investigation, which will direct strategic choices for connecting with key stakeholders to strengthenthe project aims and objectives. To survey every stakeholdercombined, the group can apply numerical appraisals or basically rate each as high, medium or low for stakeholders impact and contribution. To maintain the risk within the organisation and to control over the various risks which is connective with the trade and the project the higher management needs to analyse the effects of the stakeholders in the organisation(Eskerod, Huemann and Ringhofer, 2015). To deliver the project or the business within the exact delivery time stakeholders may also influence the company. To understand the stakeholders pretty well within the organisation the management needs to communicate with them in a proper manner to analyse and assess the importance and the impact of them. In any organisation macro risk depicts as a risk which linked with the financial part within the organisation. The risk is mostly linked with the political factors in the organisation. For these types financial risk the organisation has beeninfluenced by volatility, assets of the organisation, portfolio and investment within the organisation. To understand the stakeholders within the business the management needs to assess the proper understanding and better communication process within the organisation(Holmes, 2002). The stakeholder assessment within the organisation depends on three key factors in the organisation. To maintain the interest of stakeholders in the organisation the management needs to rely on the level of influence, level of interest and level of involvement. Communication can mitigate the micro and macro risk within the organisation. To maintain the risk in the organisation the management needs to communicate well with the stakeholders of the organisation. It can be observed that, many organisations whereby communication has been performed with the stakeholder society in the similarmethod right across the board and that doesnt work. The management actually need to spot on their communication hard work and confirm or convince that they are modified for the exact stakeholder and the stakeholder assembly(Hopkin, n.d.). To get an effective communication process the organisation and the management needs to categories their stakeholders two different groups in the organisation. These two types of stakeholders in the organisation are categories as primary and secondary stakeholders in the organisation. It is fundamental for Risk Management to wind up part of the association's way of life. In this method conveying and making attention to relative issues over the organisation at every progression of the Risk Management course of action are essential. Using the observational power, the stakeholders have to identify and take suitable decesions about the risk factors of the organizations (Jordao and Sousa, 2010).The decision of the risk assessment and observation can change because of contrasts in qualities, needs, suppositions, ideas and worries, as they identify with the dangers or the issues under talk. Since the perspectives of stakeholders can significantly affect the choices obtained, it is vital that conceivable varieties in their impression of risk be recognized, recorded and tended to in the basic leadership process(Krause, 2006).The organizations have to mitigate the risks factors using various tools and techniques. Outer correspondence or the external type communication and counselling by specific specialists, and in addition trade of data and participation with different associations have to equally be arranged and actualized all the time(Dionne, 2013). The contribution of this learning and experience can demonstrate to a great degree accommodating for tending to issues identified with both the dangers and the procedure to deal with these risks, driving subsequently to a perspective on dangers that is free from subjective estimations. Besides, including outside faculty in such exercises contributes towards the reestablishment of accessible skill and risk assessment and observation. Macro scale risk depicts political dangers that influence all organizations that work in an outside nation(Madsen and Ulhi, 2001). Case of macro scale risks incorporate the conceivable outcomes that a country could raise charges, fall into common war or degrade its coin. Business supervisors must be very much educated around a nation's laws and political circumstance to oversee macro scale risk. For example, chiefs or the project managers may abstain from putting resources into a specific nation on the off chance that they think it is likely the nation will exceed unfavourable performance. Differentiating a business by growing operations into a various outside nations is an approach to moderate danger or risk within the organisation. Micro scale risk depicts political risks that don't influence all organizations(Missonier and Loufrani-Fedida, 2014). For instance, if a nation business new strict natural controls on environmental factors, it would influence modern operations in the nation; however it won't influence certain businesses like restaurant chains and different product and services. Organizations can oversee micro scale risk by moving projects into undertakings or commercial ventures that are not influenced by critical changes. Risk can originate from both inside and outer sources. The outer risks are those that are not in direct control of the administration. These incorporate political issues, trade rates, financing costs, and so on. Inside dangers, then again, incorporate resistance or data ruptures, among a few others. Risk administration is imperative in an association in light of the fact that without it, a company can't in any way, shape or form characterize its targets for what's to come(Polonsky, 1996). On the off chance that an organization characterizes targets without contemplating the risks, odds are that they will lose heading once any of these dangers hit home. As of late, numerous organizations have added Risk administration divisions to their group. The part of this group is to distinguish risks, think of methodologies to prepare for these dangers, to execute these techniques, and to persuade all individuals from the organization to collaborate in these procedures. Bigger companies for the most part face more risks, so their risk managementsystem additionally needs to be more modern. In addition, the riskmanagement group is in charge of evaluating every danger, hazard and figuring out which of them are fundamental and essential for the business. The basic risks are those that could critical affect the business; these have to then be given implication and have to be organized. The entire objective of risk management is to ensure that the organization just goes for broke that will help it accomplish its essential goals while holding every other risks under control(Ridley and Channing, 1999). Because of the common spotlight on danger, hazard management occupations have opened up. Risk management employments are typically considered as money related vocations in light of the fact that the vast majority of the risks that organizations face are securely fixing to the organization's financial standing. Risk management occupations are accessible both inside and remotely(Snider, 1964). The individual can work for an organization as an inner risk director or the individual can turn out to be a piece of a riskmanagement firm who gives riskmanagement administrations to organizations who don't have in-house risk supervisors. Risk Management administration occupations are exceptionally compensating, essentially in light of the fact that a danger proficient plays a pivotal capacity in an association. They are additionally remunerated well in monetary terms(Taylor, 2014). The risk management administrations can figure out the risks associated with organizations. In any case, the risk management position is as of now a standout amongst the most regarded positions in firms and organizations. Conclusion From the above essay paper it can be concluded that, risk management within the organisation plays a pivotal role and to employ the proper risk management process in the organisation the management needs to obtain proper tool and techniques of risk management. In this essay the researcher has highlighted various impact of the stakeholder management and better communication and consultancy for an organisation which can reduce the risk from the organisations business process. By the help of effective stakeholder management, communication process and consultation the organisation can get effective outcomes in their risk management operations. To maintain the stakeholders of the organisation the management needs to focus on different strategies and plans in their business operation. Formal and informal communication and understanding the business related risk and the consultant about the particular topic with the stakeholders engage them more in the business. References Agrawal, R. (2009). Risk management. Jaipur, India: ABD Publishers. Boesso, G. and Kumar, K. (2016).Examining the association between stakeholder culture, stakeholder salience and stakeholder engagement activities.Management Decision, 54(4), pp.815-831. Crouhy, M., Galai, D. and Mark, R. (2000).Risk management. New York: McGraw Hill. Das, S. and Das, S. (2006). Risk management. Singapore: John Wiley Sons. Dionne, G. (2013). Risk Management: History, Definition, and Critique. Risk Management and Insurance Review, 16(2), pp.147-166. Eskerod, P., Huemann, M. and Ringhofer, C. (2015). Stakeholder Inclusiveness: Enriching Project Management with General Stakeholder Theory. ProjMgmtJrnl, 46(6), pp.42-53. Holmes, A. (2002). Risk management. Oxford, U.K.: Capstone Pub. Hopkin, P. (n.d.). Risk Management. Jordao, B. and Sousa, E. (2010).Risk management. New York: Nova Science Publishers. Krause, A. (2006). Risk management. Bradford, England: Emerald Group Pub. Madsen, H. and Ulhi, J. (2001).Integrating environmental and stakeholder management.Business Strategy and the Environment, 10(2), pp.77-88. Missonier, S. and Loufrani-Fedida, S. (2014). Stakeholder analysis and engagement in projects: From stakeholder relational perspective to stakeholder relational ontology. International Journal of Project Management, 32(7), pp.1108-1122. Polonsky, M. (1996). Stakeholder management and the stakeholder matrix: Potential strategic marketing tools. J Market-Focused Manage, 1(3). Ridley, J. and Channing, J. (1999).Risk management. Oxford: Butterworth Heinemann. Snider, H. (1964).Risk management. Homewood, Ill.: Published for the S.S. Huebner Foundation for Insurance Education, University of Pennsylvania, by R.D. Irwin. Taylor, E. (2014). Optimizing Stakeholder Relationships: A Real Options Approach to Stakeholder Management.Academy of Management Proceedings, 2014(1), pp.17207-17207.