Category: Risk

Workplace Risk and How to Reduce It

For the most part, there exist many hazard factors in a business organization or working environment. Indeed, even an instruction establishment isn’t free of these hazard factors. How about we look at a portion of the hazard factors. Biological factors, for example, infections, microorganisms, plants, creepy crawlies, creature, and human, and so forth. Chemical factors identified with substance or lethal properties. Ergonomic factors originate from spontaneous setup. Psychological factors resemble pressure, dejection, savagery, and so forth Notwithstanding, in a training situation, the most widely recognized factor is ecological. Since individuals assemble there, I figure, it affects a ton.

Source of the Risk

It is very apparent to discover the wellspring of the perils inside a scholastic situation. Most regular are natural. A ton of papers get the chance to be wastage consistently, this causes a natural hazard. The other one originates from the foodstuff. Understudies, educators, and guests everybody forgot a specific amount of sustenance consistently as wastage including related things like parcels, sticks, and plastic. These likewise influence nature.

What Risk Can Do

As we prior referenced that this factor-ecological hazard, is a standout amongst the most ruling elements in the present business world. Everyone is a worry and sufficiently mindful about the earth. Along these lines, if any business organization causes any mischief to the earth from their arrangement or making wastage, it will additionally wreck the business from any point:

1. Reputation and acknowledgment will be a breakdown, in this manner the business will be in risk
2. Any lawful decision will come through, which will bring budgetary misfortune even in far degree government may issue prohibiting of the organization.
3. People won’t feel safe with respect to the medical problem, so they will gradually move away.
4. The representatives and staffs will confront a wellbeing peril.

Methods to Lower the Effect of Risk

In the wake of surveying the potential danger my organization may look from the hazard factor, I should start legitimate strides to limit the effect. I have chosen to do the accompanying:

1. Stop utilizing paper superfluously.
2. Recycling ought to be done appropriately; wastage ought to be placed in the container.
3. Increase employments of reusable hardware whatever number as could be expected under the circumstances.
4. Encouraging to convey the misuse of sustenance for the pets.
5. Ensuring transfer in a legitimate way.
6. Proper care ought to be taken in cleaning.

Conclusion

We are toward the stopping point. Keeping in our mind that squander the executives is one of the prime parts of business obligation it ought to be profoundly worried for everybody’s advancement. For the business advancement of its own, diversity ought to be guaranteed as well. In the meantime, its security and secrecy are exceedingly significant and the specialist or the allotted individuals ought to dependably watch out for these issues. On the off chance that any organization or association continues to guarantee these previously mentioned issues, benefit and advancement are ensured.

Careful Study of Sony Corporation

Sony corporation was founded in 1946 by Masaru Ibuka and Akio Morita. Its first invention was rice cooker which had failed and led to G-TYPE recorder in 1950, it also introduced pocket transistor radio in 1957. A cathode-ray tube was launched on October 15, 1967 which helped them in video innovation. Its headquarters are located in Japan where large parts of production, distribution and manufacture takes place. Sony Music Entertainment was created by forming a joint venture between Sony corporation and CBS Inc in 1968 which later wholly-owned by Sony corp. in 1991. It came up with an idea called ‘world’s first direct-view portable TV’ in 1960. It dispatched DVD recorder in 2003, interface designs in 2002, digital camera (CyberShot DSC-F1) in 2001, laptop in 1997, personal computer in 1983, headphones in 1979 and also the first organization to create mp3 player, camcorder, magnetic video camera, world’s first CD player, Walkman, batamax (VCR), Play Station gaming system, Blu-ray, handycam and High definition video. Sony being a Japanese company currently operated by president and chief executive officer, Mr. Kazuo Hirari is the leader in manufacturing audio, video, game, communications and information technology products and also called as broadband entertainment company in the world. The offices are located around the world including United Kingdom, United States, Japan, Singapore and China. It is declared as world’s first pioneer of portable digital products and one of the world’s largest electronics manufacturers.

Sony’s operations and achievements include Xperia, Walkman (TPS-L2), Sony Music, Columbia Pictures, PlayStation and more.

On December 18, 2018, the ‘2018 World Brand Top 500’ compiled by the World Brand Lab announced that Sony brand ranked 100th out of top 500. Sony has established production base in Asia with a wide sales network in around 200 nations across the globe. They have a strong marketing network in Japan, US and Europe.

Sony Subsidiaries and International exposure

• In October 1968, the world’s first color TV with Trinitron image technology was launched: KV-1310.
• In 1978, a revolutionary CCD (charge-coupled device) sensor technology was developed.
• In 1983, United Kingdom – Philips aligned with Sony to release compact disc (CD) and led the 74-minute standard.
• In October 2001, Sony and Ericsson each held 50% of the shares and jointly formed Sony Ericsson.
• In December 2004, the next generation of PlayStation Portable handheld game consoles using UMD storage media was invented.
• In January 2005, IBM and Toshiba (TOSHIBA) jointly released the Cell-microprocessor with 4GHz start-up.
• On May 16, 2005, the E3 show in the United States released the Station 3 generation game console equipped with the Cell processor.
• On July 19, 2005, he announced a partnership with Konica Minolta (Konica Minolta) to join the digital SLR camera market in response to the saturation of consumer digital cameras.
• On August 25, 2005, the joint IBM and Toshiba (TOSHIBA) announced the detailed process of the Cell-microprocessor.
• On September 13, 2005, September, BRAVIA’s next-generation LCD TVs were released worldwide.
• On September 30, 2005, SanDisk released a Memory Stick Micro (M2) memory card.
• In 2006, Ericsson decided to expand its cooperation with Sony, in addition to continuing the original mobile phone design and manufacturing business, the two parties will jointly develop software for mobile and broadband TV applications.
• On February 21, 2006, the world’s smallest support high-definition 1080i HDV-HC3 was released.
• On April 20, 2006, the brand new digital SLR camera brand (alpha) was released.
• In November 2006, PlayStation 3 equipped with Cell processor and next-generation Blu-ray technology was officially launched in Japan, the United States, Taiwan, and Hong Kong.
• On November 2, 2006, the eighth-generation S-LCD panel factory, which was put into operation with South Korea’s Samsung Electronics, officially started construction. It is expected to officially put into production capacity in the fall of 2007.
• On November 11, 2006, the PlayStation 3 generation game console was officially launched in Japan and 100,000 consoles were sold out in an instant.
• In January 2011, the PlayStation VITA second-generation handheld gaming console with quad-core, dual joystick and front and rear touch screens was released.
• On October 27, 2011, Sony announced that it will acquire the remaining 50% of the shares for 1.50 billion euros. It is wholly-owned and announced that it will stop using the ‘Sony Ericsson’ brand from mid-2012. In the future, the mobile phone will be unified with the ‘SONY’ logo.
• In April 2012, Sony was approved by the European Commission to acquire the established music company EMI also known as Universal Music Group for $2.2 billion. So far, Sony has become the world’s largest music company, controlling one-third of the world’s music copyright.
• In July 2012, Sony acquired the cloud game company GAIKAI for $400 million to expand its future gaming machine business.
• On June 10, 2013 the PlayStation 4 was released in London.

Joint Ventures

Sony Ericsson

A joint venture between Sony and Ericsson on Oct 1, 2001. Sony Mobile’s exclusive operation is to create smartphones under the Android-Xperia sub-brand, as well as device accessories and software. The strategy is to release new models that enable digital photography and other multimedia features.

Sony ESPN

Sony Pictures Networks India partnered with ESPN to form a joint venture called Sony ESPN, which was officially launched in October 2015. The channel is aimed at the Indian subcontinent and is commented in 6 languages, the NFL season (2016) aired IPL competition (2016-17) with NFL playoffs, Super Bowl and Pro Bowl. Sony ESPN’s content includes cricket, football, hockey, tennis, golf, NBA basketball, badminton and other activities.

Ghelia

Sony Computer Science Labs, in collaboration with Japan’s AI venture capital firm UEI and the Business Incubator World Innovation Lab, launched a new joint venture to help companies collect data and develop artificial intelligence programs. This joint venture through UEI aims to create a platform to provide basic services to companies that incorporate AI into their business.

According to the pie chart, the data showed that the FY 2017 results accounted for about 43 bin yen of Games and Network Services, which was the most proportion in the whole pie chart, and the Financial was the second proportion, about 36 bin yen. Other factors are Semiconductors, Music, Home Entrainment and Sound, Pictures, Imaging Product and Solutions, Mobile Communications.

According to the value of supply chain transaction by geographic area, mainland was China and Hongkong region, accounting for 39%, the smallest proportion is in the United States, only 1%.

According to the value of supplier transactions by geographic area, China and Hongkong region, accounted for 39%, which is largest proportion and United States accounted for 1% which is smallest proportion.

SWOT Analysis

Strengths

1. Sony corporation has a very strong brand image;
2. It has worldwide reputation;
3. It has High market share;
4. It serves high quality products to its customers;
5. High technology is used in manufacturing the product;
6. It is pioneer in the industry as being creative and innovative;
7. Diversification in manufacturing locations around the world;
8. It has wide cover spectrum over multiple market.

Weaknesses

1. There is a lack of dominant mobile devices;
2. It has vulnerability of databases and networks;
3. More number of Sony’s products are imitated in the market;
4. Especially in its television business, the high cost of media production has affected the company’s pricing strategy;
5. It has lost an equivalent of 6.3 billion Dollar for eight years in a row;
6. It is losing its market share to manufactures, such as Samsung and LG;
7. Competitively, the products are more costly.

Opportunities

1. Sony is one of the most recognized and loved brands in the world;
2. Sony plans to implement some network initiatives to expand the TV business;
3. International consumption of American TV dramas continues to remain strong;
4. On the international market side Sony plans to launch six new regional language games, and Sony will transfer its gaming technology to its London studio to India;
5. It can take advantage of its music and movie industry along with its experience in the gaming area to deliver value added content to integrate and support its product line.

Threats

1. The company is facing price competition from competitors such as Samsung and LG, who are gaining traction with lower cost products such as mobile devices and televisions;
2. Its online network is facing treats from hackers (The company’s Play station network was hacked, resulting in customer’s information leakage such as credit card data).

Challenges

European economic issues have slowed growth of the AD sales market in many territories. Programming prices are expected to rise, volatility of foreign currencies create uncertainty for predicting financial results in US dollars. To enhance the brand further by taking advantage of all the assets across the organization globally, including both electronics and environment. Sony’s PlayStation Network and Sony Online Entertainment services were hacked and personal data of more than 100 million accounts was stolen and the service was unavailable for weeks until it was recently partially restored (The cyberattack cost an estimated $170 million in damages).

Competitive Risk

Sony must deal with the bargaining power of some suppliers, bargaining power of customers, the threat of new entry, the competitiveness and the threat of alternative service products. Although Sony is trying to differentiate their products through modern design, high quality graphics and superior technology. They still have Ipod as alternatives to Sony Walkman, iPad or Android or tablet games that threaten Sony PlayStation and DVD as alternative to Blu-ray. Alternatives like music downloads or streaming media will have an impact on Sony’s recorded music industry.

Sony and ERICSSON

The Sony G-TYPE recorder (tape player or recorder) was the first hardware device created by Ibuka and Morita in 1950, and the first pocket-transistor radio was released in 1957. In order to penetrate the global market, they introduced the image quality of Trinitron TV in 1968. Ericsson was founded in 1876 by Lars Magnus and began to manufacture mobile phones with potential technological improvements that shape the future of mobile and broadband Internet communications. Ericsson is the only company in the world to provide systems for all major mobile communication standards, actively promoting standardization and delivering innovative solutions in more than 140 countries.

Ericsson used to buy chips from a single source from Philips. In 1999, due to the interruption of the fire in Philips, it was unable to provide chips, and Ericsson had to face huge losses. Sony is a fringe player in the global mobile phone market, with a share of less than 1% in 2000. Sony Ericsson’s joint venture began on October 1, 2001, and the main goal of the joint venture is to develop an alliance that allows Ericsson to reduce the cost of expensive development of the next generation of mobile phones. Ericsson has also successfully innovated cheap camera phones, cross-platform technology, operating system experiments and colour screens. After 2007, due to the rise of smartphones on the market, the company’s feature phones gradually lost market, and the company’s operations slipped into the slump. After half a year of negotiations, on October 27, 2011, two parent companies, Sony and Ericsson, reached an agreement. Sony paid Ericsson 1.50 billion euros ($1.47 billion). The former bought Sony Ericsson from Ericsson. On October 27, 2011, Sony announced that it will acquire 50% of Sony Ericsson’s shares held by Ericsson for 1.05 billion euros. Sony Ericsson becomes a wholly-owned subsidiary of Sony. The transaction was completed in February 2012 and Sony Ericsson was renamed Sony Mobile.

The word ‘Sony Ericsson’ has ceased to exist. The original 50% of Sony Ericsson shares in the past 10 years have also officially returned to Sony. The mobile phone series product was named ‘Sony Mobile’, and the mobile phone logo produced in the future was also changed to ‘SONY’. On February 15, 2012, the Sony mobile communication subsidiary was established, and Sony Ericsson was officially out of the market. After Ericsson exited the mobile terminal business, it focused on 2G, 3G and 4G mobile communication networks and professional services in the communications market.

New Models

The first device introduced by the Sony Ericsson brand is the T68i, which includes a colour screen, a connectable camera and an email function. The new products feature digital photography and multimedia capabilities (download, view video clips and personal information management features). In 2003, it introduced the iconic T610, the first model to include a built-in camera. In 2005, Sony promoted its brand through K750 devices including Cyber-shot camera technology. Ericsson effectively provides hardware, and Sony can use its technology and exclusive products to help itself stand out from competitors’ manufacturers. In 2007, shipments reached an all-time high of $103 million each year. In 2008, sales fell to 96 million, Sony Ericsson has been too focused on high-end mobile phones, and was affected by failure to keep up with competitors, highlighting HTC, the Apple iPhone launched in 2007 and Google’s Android accounted for its share of sales.

A few days ago, Sony Ericsson officially said that the Ice Cream Sandwich operating system, Android 4.0 version, will start to log in to XPERIA smartphones in mid-March and late March 2012. The world’s first V phone Xperia arc S LT18i.

Sony Ericsson released the latest performance Android 2.3.4 smart new Xperia arc S LT18i at the International Electronics Show (IFA) in Berlin, Germany. As the flagship new Xperia series, the Xperia arc S LT18i not only inherits the award-winning design of the Xperia arc LT15i, but also features a high-speed processor upgraded to 1.4GHz. At the same time, it is advanced with Sony Exmor R for Mobile image sensor and 3D panoramic scanning. The outstanding performance of video technology, Xperia arc S LT18i was awarded the ‘2011-2012 European Best Camera Phone’ award by the European Video Association (EISA). Xperia arc S LT18i continues the appearance of Xperia arc LT15i won the 2011 Germany Red Dot 2011 ‘slim design, the thinnest part of the fuselage is only 8.7mm, coupled with arc arc, add The three colours of white, pink and black, upgrade the fashion taste; under the refined appearance, the high-speed processor upgraded to 1.4GHz speeds up the mobile phone in the start-up camera mode, media and application conversion by 25%, and the web browsing growth rate is also high. 20%. In conjunction with the leading Android 2.3.4 smart operating system, the Xperia arc S LT18i will fully enhance the consumer’s mobile connected life experience.

The Xperia arc S LT18i combines Sony’s high-end imaging technology to provide users with an optimized entertainment experience: the multi-touch Reality Display with 4.2-inch, Sony Mobile BRAVIA Engine image processing engine, perfect for beautiful images and videos; Sony xLOUD enhanced speakers, superior audio effects; 8.1-megapixel camera with HD recording and Sony Exmor R image sensor for clear shooting in low-light environments; 3D panoramic scanning for users to break space constraints, shooting Have fun in it.

Start Over

In June 2008, it launched a £756 million cost-cutting plan, and by the end of 2010, about 8,000 employees were laid off. Cutting costs has helped the company build a platform. Mobile World Congress 2011 – Return to the Black Economy – Android is a major factor. Sony launched the Xperia series, which is available from Android, including the Xperia X10, Mini Pro, Vivaz Pro, the game-centric PlayStation-certified phone Xperia Play and more Sony brands such as its camera sensor Exmor R and image processor Bravia engine. In 2011, it differentiated its market. However, after the loss of £37 million in the second quarter results report, its problems reappeared and were attributed to the impact of the earthquake in Japan, which caused four locations to close and stop production. Shipments fell by 11 million to 7.6 million year-on-yea. Many of their production centres and research and development centres around the world. Closed, they had to cut off about 3,000 employees. Sony decided to acquire Ericsson’s shares at Sony Ericsson’s price as a subsidiary of Sony Electronics. Therefore, Sony Ericsson became Sony Mobile Communications.

Foreign Exchange Risk

Sony’s electronic business, R&D and headquarters management fees are mainly calculated in Japanese yen, and manufacturing costs (including material costs, parts procurement costs, and outsourcing manufacturing service costs) are mainly from the US dollar and the Japanese yen. Derivatives, foreign exchange forward contracts, foreign currency option contracts are used to mitigate the effects of fluctuations in foreign currency exchange rates and expected cash flows from intercompany transactions. London’s Sony Global Treasury Services (‘SGTS’) hedges the net foreign exchange exposure of Sony and its subsidiaries.

The SGTS typically forecasts an expected risk exposure for the three months prior to the actual transaction. However, in some cases, SGTS will partially hedge the expected risk exposure one month before the actual transaction occurs when certain products are produced with a shortened production-sales cycle. Sony’s foreign exchange transactions with third-party financial institutions are mainly for hedging purposes. Minimize the adverse effects of foreign exchange fluctuations on their financial performance, especially in the electronics sector. Sony seeks to localize materials and parts procurement, design and manufacturing operations outside of Japan. Changes in fair value of derivatives designated as cash flow hedges (including foreign exchange forward contracts and foreign currency option contracts) are initially recorded in accumulated other comprehensive income and reclassified as profit when the hedged trade affects revenue. It shows the electronic manufacturing facilities of Sony all over the world.

Drawbacks

Sony does not offer premium phones like other competitors in the mobile phone manufacturing industry. They research and development is very slow. If the R&D department is not up-to-date, it means that you are not providing satisfactory products to your customers. They offer innovative products, but marketing strategies are not as effective as attracting customers. They faced problems because they focused on cost-cutting plans and unemployment. In June 2008, they had 12,000 employees. After the launch of this cost-cutting plan, the number of employees worldwide decreased by about 8,000. In 2008, Sony’s quality problems were mainly concentrated on notebook products. The motherboard of the Sony FZ35 laptop is exploding with. Sony’s CR series notebooks produced since January 2008 have been accused of short-lived phenomenon. Network received several complaints about the Sony T20 digital camera in the country, and ‘starting inexplicable jitter’ became the complaint keyword.

Conclusion

R&D is an important part of any organization and it plays an important role in mobile phone manufacturing companies, but Sony Ericsson used it as a cost and closed R&D department. Companies must seek to innovate and implement new marketing strategies to provide customers with a satisfying product and raise awareness. Equally important, we should also know that customers always want new and different things. Therefore, to provide them with new and different mobile phones, the companies should always seek the best R&D tools and technologies. Sony mainly concentrated on high end handsets which includes attachable camera, Cyber-shot camera technology, built-in camera and other technology, instead it should have focused equally on technology and operating system as well for a better development of the joint venture.

Sources

1. https://en.wikipedia.org/wiki/Sonywww.sony.com
2. https://www.quora.com/Why-did-the-Sony-Ericsson-co-venture-fail
3. https://www.ukessays.com/essays/business/history-of-sony-ericsson.php
4. https://www.mobilenewscwp.co.uk/2011/08/18/is-it-time-for-sony-to-ditch-ericsson/

Is Risk Important? Essay

I think taking risk is more important than planing carefully for success. I know that, many people who want to be successful think to plan carefully is safe, maybe it is can be true but if you don`t want take risk you can not get giant leap. I think successful people shouldn`t live stable life, their life should have a lot of increase and decrease. In my opinion, to take risk has several important advantages. First advantages about the opportunity. Opportunities are submitted by life for people. However, most of people miss the opportunity because they want to stay safely and suitable for their life plans. For example, most of person avoid the set up new company because they choose to work another companies for salary, in their opinion this situation is easy and safe. The second important advantages about the life boundaries. Every people have many boundaries, we can feel the boundaries our life giant boundaries. I want to give example in my family about the boundaries, my father works in Ministry Of Family but at first he had worked at Halk Bank which was a public bank while my father was working there but one day the bank was sold to foreigner company by Turkish government. I thought that this is a very good new because my father`s salary will be increased but my father wanted to work for government. Because he has a lot of plan for future and to many boundaries, he couldn`t destroy his boundaries .As a result, now my father is government employee and his salary is not high but he is a happy for this situation. The last advantages is about crisis management. If we don`t to plan carefully wa can face to many hardships. People can believe that this situation is very bad. Therefore, they want to avoid to take risk. However, if we face to many hardships we can acquire to ability to crisis management. I think this skill is the most important thing for the success. Because you can make many careful plan but life is not obey the your plans. Therefore, you must be ready for life`s rigors ,so we must have to ability to crisis management. To conclude, we should take risk. If our ancestors obeyed the their careful plans, they wouldn`t try to make fire. Moreover, if they didn`t try make a fire. we couldn`t have to comfortable life. Maybe we had to hunt a deer. Lastly we musn`t forget that when we make a plan for the future , the life smiles from over the clouds.

Discuss the Theoretical Explanations for Risk-Taking

For many years, adolescents have been described as risk-takers, unruly, mischievous and are generally portrayed in a negative light. Examples of these depictions can even be traced back to Shakespearean times, however the adolescent stage was not recognised as its own life stage until very recently. Risk taking in adolescence is an area of study psychologists have been extremely interested in, providing many explanations for the said behaviour. In this essay I will discuss explanations of risk taking and other influences.

One theory proposed by biological psychologist suggested that the brains reward system in the brain’s limbic system is said to be linked to risk taking. During adolescence, the brain begins to develop from a child’s brain to an adult’s brain, with changes from myelination of neurons, grey matter changes to even chemical imbalances. Bhide et al in 2004 decided to investigate limbic brain activity in adolescent brains by confronting the teenagers with a threat, there was enhanced activity in the emotional control section of the brain and when he compared his findings with that of adult brains, he found that teenage boys were unaffected by the threat of punishment yet hypersensitive to the possible reward from the gamble. It was found that a molecule needed to develop fear was significantly less active in teenage boys. Other psychologist stated that higher levels of stimulation is needed to achieve pleasure as the neurotransmitter levels become lower during this time. This could suggest that adolescent males are more likely take risks as they require higher levels of stimulation for reward (thus a more thrilling method must be used to seek out such pleasure), as stated above, it was also found that fear levels are also lower, yet pleasure hypersensitivity is higher, these factors mean reward seeking easier and much more thrilling, according to the biological explanation. This explanation leaves little-to-no room for influence from the outside world and states risk taking is a result of biological imbalances and changes. Risk taking is explained as an act of impulse control: there is an urge to be rewarded or satisfied and the means of which the urge is fulfilled is by risk taking. Biological studies are mainly focused of male participants however, so the question may arise as to whether these finding can be generalisable to female adolescents. There is also evidence stating females develop earlier than males, so again, does this difference affect risk taking. These are all points that will addressed towards the end of the essay.

Another explanation of risk taking is the social developmental theory, this is the belief that there re three main goals within this theory: emotionally regulated, a sense of identity, and the ability to form close relationships. Being autonomous and emotionally driven is a result of growth. These three goals are believed to have a large effect on adolescent behaviour especially risk taking. One researcher interested in adolescent risk taking was Steinberg, he gave questionnaires to participants aged between 11 and 24 and asked them to evaluate the danger levels and riskiness of hypothetical scenarios. He found that 16-year-old behave like adults however 15-year-olds were more likely to take risks. This study faced criticism from other psychologist and Steinberg himself began to question the methodology as it lacks ecological validity. In real life situations there is a lot more legitimate excitement and reactions, whether that be caused by chemical reactions or other factors. When studying risk-taking, psychologist could not control for emotional arousal as that was argued to be a factor of risk taking, therefore emotional arousal became a measured factor. Steinberg presented 70 male participants (14 adolescents, 19 youths and 37 adults) with a video game called ‘chicken’ that essentially tested their risk-taking skills (the readiness to stop the car at a red light, nearest to an upcoming wall in reward for point for stopping closest or no points at all for crashing the car). The groups played in 2 conditions: alone (emotionally cool) and in a group (emotionally hot), and their results were recorded. In “cool” situations, adolescent and adults took risks at the same rate, however in “hot” situations, adolescents took twice the risks as adults (who didn’t change based on condition). Steinberg concluded that adolescents took risks in high emotionally aroused situations because “they gave more weight to the payoff”.

The social developmental theory concluded that environment influenced emotional arousal thus causing adolescents to take risks. “Emotional arousal” is defined as heightened psychological emotions e.g anger, fear etc. with this definition, the adaptation Steinberg’s study can be used to explain the biological approach: the addition of external factors (presence of friends), heightens emotion (controlled by the limbic system which is already going through changes) affect the adolescent’s decision making and encourages risk taking. Further research was done to investigate why risk-taking is so prevalent in adolescents and it was found that many factors and experiences shaped the decision-making process. Researchers from UCL (2018) concluded (through longitudinal studies of 11726 families in the UK) that although risk taking is common among adolescents, the extent and frequency of risky behaviours varied amongst gender, social ranking, areas of residence, ethnicity, economic ranking and even factors such as sexual orientations had differences. For example, 6.1% of adolescents had tried drugs in Scotland compared to 2.8% in Northern Ireland. It was also recorded that participation in risky activities was also age dependant, (21% of 14-year-olds having dried drinking or smoking with only 3.5% 11-year-olds). These finding suggest that risk taking is influenced by other interactions and the outside world and is not just limited to biological causes.

In each explanation, there is an expectation of risk-taking behaviour in adolescents, however research shows that 79% of adolescents did not partake in substance use by 14-years-old. To fully understand influences to adolescent risk taking, more research will be needed.

Cross-Cultural Risk Is Often Intensified by Managers with Geocentric Tendencies: Persuasive Essay

International Trade is usually defined as the exchange of goods and services across international borders or territories. It acts as a significant factor in many of the national economies, as there is a direct proportional relation between export growth and the economy’s Gross Domestic Product GDP. World trade plays a vital role in humans’ lives, taking a look at a supermarket or a shopping center, Brazilian coffee, Swiss chocolate, English tea, and Egyptian textiles, in addition to many other imported products could be found showing the impact of world trade nowadays.

Along the international trade process, there are some risks that the business practitioners would struggle with and should be taken into consideration while approaching world trade and needed to be responded to and monitored. These risks can be classified into four major risks: Commercial Risk, Country Risk, Currency Risk, and Cross-Cultural Risk (NerdySeal, 2021). Commercial risk is a potential for loss with a trading partner due to the inability of paying for the products or services provided, the inability to meet the delivery dates, or the differences in interpreting the agreement with the trading partner (Study.com, 2022).

Secondly, country risk, or the so-called political risk, ‘Country risk broadly refers to the likelihood that a sovereign state may be unable or unwilling to fulfill its obligations toward one or more lenders. It involves an assessment of economic performance in the context of a country’s demand for external financing and judgments about the prospect for changes in financial returns’ (Wagner, 2012). For example, China usually interferes with and highly controls the national business procedures, especially while being in a trade war, by imposing tariffs and quotas on imported products, so there are considerations that should be taken by the international firms willing to do business there.

A great example of a foreign trade war is the one that started in 2018 between the US and China when the largest two economies in the world started imposing tariffs on each other’s goods worth hundreds of billions of dollars. Tariffs were imposed on more than $360bn of Chinese goods, and China responded with tariffs on more than $110bn of US products (BBC News, 2020). Washington delivered three rounds of tariffs in 2018, and a fourth one in September 2019. The last round targeted Chinese imports, from meat to musical instruments, with a 15% duty. Beijing hit back with tariffs ranging from 5% to 25% on US goods (BBC News, 2020). In January 2020, after markets got affected and pressure was put on the global economy, negotiations succeeded between the US and China and an agreement has been signed aiming to ease the trade war. China has undertaken to boost US imports by $200bn above 2017 levels and strengthen intellectual property rules. In return, the US has agreed to reduce almost one-half of some of the new tariffs imposed on Chinese products (BBC News, 2020).

Moving on to the currency risk, which is also named the exchange rate risk, and considered to be one of the remarkable risks regarding the international trade processes. It can be referred to as the frequent fluctuation of the currencies’ values and the uncertainty of future exchange rates. Variations in the exchange rate can have an effect on the payments that trading partners owe each other, and the actual values of companies could change by the great vicissitudes in currencies (Study.com, 2022). If the seller is not properly protected, he could lose money in case of a devaluation or depreciation of the foreign currency. To explain the idea, if the buyer has agreed to pay ¬500,000 for trade, and the Euro is valued at $0.85, then the seller would expect to receive $425,000. If the Euro’s value decreased to $0.84, then the payment under the new rate would be only $420,000, meaning a loss of $5,000 for the seller (International Trade Administration, n.d.).

Lastly, the cross-cultural risk refers to the cultural differences between countries and the risk affecting the international trade process between them in case of misunderstanding those differences. Culture is a term that points to a large and diverse set of mostly intangible aspects of social life. According to sociologists, culture consists of the values, beliefs, language, communication, habits, and customs that people share in common and that can be used to define them as a collective. Culture also includes the tangible objects that are common to that group or society (Cole, 2017). These values indicate the common mindset in the country, how the business is managed and the buyers’ shopping manners, as the foreign customers are totally different from the domestic ones.

Globalization has enhanced the ability of many organizations seeking to conduct business internationally to manage the accompanying cultural differences. The focus has been on overcoming the uncontrollable factors including the legal, political, technological, and economic barriers, while cultural barriers are often ignored. The expected results of ignoring the cross-cultural differences may be losing market share or acquiring a weak one, low or negative return on investment, missing opportunities, and reputational damage as well as legal challenges, productivity losses, expatriate failure, and the premature termination of contracts, joint ventures, and partnerships. The misunderstandings, tensions, and biases caused by cultural differences can even lead to complete failure (Menzies, 2019).

A good example to understand the risk of language differences and how it may affect business agreements If one side is not fully aware of the other one’s language is the literal meaning of the words. In the Spanish language, ‘ma±ana’ literally means ‘tomorrow’ but in the business environment, it means ‘not today’, or ‘indefinite time in the future’ which simply refers to a procrastination manner. So, if the buyer is from Latin America and the English seller asked about the payment time and the answer is ‘ma±ana’, the seller likely will not confirm when the payment will be transferred and there is no guarantee as the word is so vague (Wikieducator, 2007). So, some regions like Latin America need the business agreements to be in high context and more detailed than their neighboring countries in the US or Canada so that the low context agreements may be accepted for them. Even simple words like ”yes” may have various connotations in business agreements, in some regions it means an agreement is taken, while in other regions it simply means that the term is recognized but there is no guarantee for an agreement. (Study.com, 2022).

Religion is another important cross-cultural aspect that affects international trade. For example, in regions where Islam is the predominant religion, the public, and some private sectors comply with what is called Sharia law which is the Islamic constitution and the main principles of Islam that regulates Muslims’ lives. According to Sharia, usury is prohibited, which is financially dealing with interests by collecting, lending, taking loans, or making payments. Trading in financial risk is forbidden as well because it is considered to be a form of gambling. Sharia also prohibits investing in businesses that sell illegitimate ‘haram’ products such as alcohol, pork, and meat that are produced by a non-Islamic way of slaughter. A committee of domestic Islamic scholars is formed by the country’s government to check whether the traded food products entering the market are accepted, and the ‘halal’ label must be stuck on them, otherwise, the whole shipment could be rejected. Furthermore, businesses that produce media contradicting Islamic values are prohibited such as gossip columns or pornography. And even if those products got governmental permission, the end users’ religious sense may get provoked which may lead to losing the market share or getting a bad reputation. International business traders need to understand these cultural barriers before dealings with companies located in such countries as they may limit their success chances and make trading with them risky (Wikieducator, 2007).

The first is an analysis of the “Credit Suisse’s 
Involvement in the Archegos Co

The first is an analysis of the “Credit Suisse’s 
Involvement in the Archegos Collapse: Risk Management and Internal Controls”” reading. The second is a similar
analysis of the “Midwest Health System: Information System Risks and Controls” reading. 
Each
paper should be not more than six pages, 
not counting a title page and references. Students 
are
encouraged to provide a bibliography of the 
resources you consulted to draft the paper. Please
avoid bullets for the items selected. 
The format should be: 
1. Briefly describe all of the 
risks described in the reading. 
2. Select two or three of the most important risks. 
3. Briefly describe all of the management
strategies that you can identify in the “select” risk
list 
4. Delve deeper in the two or three elements of the 
management strategies you feel offer the
best 
chance of success. 
5. Make a brief assessment whether the culture of 
the facility will accept these management 
strategies.
NO DETECTION OF AI. MUST PASS TURNITIN. NO 
PLAGIARISM. 
DO NOT GO OVER 6 pages. 
Must be APA format. 
Use the article attached and outside resources as well. 

Please type a 1-2 page MAX response to the question below. NO DETECTION OF AI OR

Please type a 1-2 page MAX response to the question below. NO DETECTION OF AI OR PLAGIARISM. IT 
MUST BE 0%. I also have to use grammarly for this paper as well. Please use APA 7th addition. 
Only use this resource attach. 
“Discuss RMF’s 
approach to risk 
management”

Please type a 1-2 page MAX response to the question below. NO DETECTION OF AI OR

Please type a 1-2 page MAX response to the question below. NO DETECTION OF AI OR PLAGIARISM. IT 
MUST BE 0%. I also have to use grammarly for this paper as well. Please use APA 7th addition. 
Only use this resource attach. 
“Discuss RMF’s 
approach to risk 
management”