Business Writing week one discussion Assignment Example | Topics and Well Written Essays - 500 words

Business Writing week one discussion - Assignment Example Listening with an open mind isnt always easy, but its the only way to make sure you really hear what people are telling you† (Bovee 38). Rather than approaching the communication situation with an open mind, they brought in preconceived notions. The conversation advanced with them continuing to advance the narrative that they had devised in their minds. The text indicates that communication prominently involves listening, as it is impossible to properly disseminate information without having a back and forth discussion. Ultimately, the communication event would have been more successful if my supervisor had been a more active listener and constructed her knowledge based on the conversation. My name is Birgit. I have a large number of hobbies. Undoubtedly, one of my most frequent hobbies is personal fitness. Throughout high school, I participated in a number of team sports and sort of got in the habit of being physically active. Since graduating from high school, I’ve kept up my physical activity through running every day. I also occasionally play basketball and volleyball with friends. In addition to physical activity, I am an active reader. I recently purchased an iPad so I would have to stop buying so many print books; so far I’ve read the Hunger Games trilogy and the latest Harry Potter novel. I also regularly enjoy cooking, particularly pasta. My greatest communication challenge would definitely have to be public speaking. While in front of certain audiences I am able to be engaging, in most instances I find that I am incredibly shy and slightly anxious. Another communication challenge I face is verbal tests; similar to my fear of public speaking, these instances make me highly nervous. The most effective communicator I know is my uncle. Currently, he is the general manager of a hotel in Los Angeles, California. I have visited him and witnessed how he interacts

Enterprise Risk Management Essay Example | Topics and Well Written Essays - 1750 words

Enterprise Risk Management - Essay Example The reason lies in that it lacks the integrated approach to the management of risk which characterises enterprise risk management. It is precisely for this reason that regulators in Canada, Germany, the United Kingdom, the United States, and other developed countries have issued rules and guidelines that advocate an enterprise-wide approach to risk management, further pushing many companies to adopt ERM (Kleffner, Lee and McGannon, 2003). Quite simply stated, the drive towards the adoption of ERM, as opposed to RM is due to the fact that the integrated approach adopted by the former, and which is absent within the context of the latter, is regarded as a more effective and efficient approach to risk management. With that being the case, as this research will argue, the real question relates to the reasons why more corporations do not adopt ERM, as opposed to RM. In order to properly determine the reasons why ERM is considered superior to RM, it is important to define each of the two terms. These definitions will highlight the advantages and disadvantages of either approach and allow for a greater understanding of differences between them. Enterprise risk management has become a significant topic for larg... It provides an active, vital and comprehensive modelling approach for integrating all financial decisions and risks. This includes investment decisions, borrowing policies, liability, and setting of goals (Kleffner, Lee and McGannon, 2003). The comprehensive management of risks and the adoption of an integrated approach to risk management has several benefits. An enterprise with fully diversified losses requires much less capital than an enterprise with concentrated worst-case losses. In turn, the anticipated profitability of the company is affected by the degree of diversification since a reduction in capital will increase expected profits. The goal of ERM is to maximize the firm's overall profit, while maintaining its enterprise risks at acceptable levels (Mudge, 2000). Insurance companies, for example, should analyze their major risks so that adequate capital exists at the firm level to pay insurance policyholders in the event of legitimate insured losses. The desired level of capital depends upon the severity of claims. And since these claims are a direct function of random events, the insurance company must calculate a distribution of losses for its entire operations in order to set the proper level of firm-wide capital (Doherty, 2000). Due to this, Meulbroek (2002) insists that regulatory bodies should check these systems in order to validate that the risk management strategies are reasonably well developed and consistent with current approaches and practice. The firm-wide models are also known as Dynamic Financial Analysis. An ERM system consists of three primary elements. These are 1) a stochastic model for projecting a set of scenarios of the future --the scenario