Friday, January 24, 2020
A Work of Artifice - A Profound Poem for Many Cultures Essay -- Poetry
"A Work of Artifice"- A Profound Poem for Many Cultures Suppression of women has occurred in all societies. Damage created by societal repression ranges from psychological damage to physical damage. Ã The suppression of women is not only perpetrated by men, often other women support the cultural traditions which are damaging, as they themselves grew up within the confines of those social norms. Ã Marge Piercy, a feminist activist, writer and poet makes a statement against social norms damaging to women with her poem, "A Work of Artifice". After reading the poem, one can certainly appreciate the fact that many norms embraced as acceptable for a woman causes physical and psychological damage to their total health. Through "A Work of Artifice", Piercy delivers a poignant message to societies everywhere. A "Work of Artifice" contains images of female suppression from various cultures. Piercy uses the symbol of a bonsai tree to represent a woman that has been conformed to society. The gardener "whittles back the branches" (Piercy, 10) every day, as a society or group forms a woman into what they think is decent or acceptable. Much literature, as well as other forms of media is devoted to depicting women who find themselves trying to achieve their dreams, while simultaneously having to work against the wishes of the greater part of their societies. Sometimes the heroines have to struggle to overcome society created morals within themselves. An example of this can be found within David Graham Phillips' novel The Price She Paid. The heroine, Gertrude, must give up her notions (which have been impressed upon her since birth by her family, community, and the larger part of New York Society) of what a "lady's" occupations and actions sho... ... binding- lotus shoes". San Francisco Museum: 1999. 13 Mar 2003 <a href="http://www.sfmuseum.org/chin/foot.html">http://www.sfmuseum.org/chin/foot.html</a> Eliade, Mircea, The Sacred and the Profane. Trans. Willard R. Trask. Ã New York: Harcourt Inc, 1959 "Female Genital Mutilation, a course pack". Amnesty International Website. 14 Mar 2003 <a href="http://www.amnesty.org/ailib/intcam/femgen/fgm1.htm#ref1">http://www.amnesty.org/ailib/intcam/femgen/fgm1.htm#ref1</a> Phillips, David Graham, The Price She Paid. IndyPublish.com: 2002. 14 Mar 2003 <a href="http://jollyroger.com/library1/ThePriceShePaidbyPhillipsebook.html">http://jollyroger.com/library1/ThePriceShePaidbyPhillipsebook.html</a> Piercy, Marge, "A Work of Artifice". Literature: Thinking, Reading and Writing Critically. Ed. Sylvan et al. 2nd ed. New York: Longman, 1997: 882-83, 894
Thursday, January 16, 2020
A Social Worker
Social work is a profession in which it is important to have a set of rules to follow while working with clients. In the social work field, the code of ethics, values and use of supervision are important keys in how licensed social workers should handle their clients' private documents and other information in association with having skilled attitudes towards their work as well as in their personal life. The code of ethics is a set of rules set by the National Association of Social Workers made order for a social worker to follow while being a professional. These principles could also be considered universal in social work practice across the nation. Furthermore, these principles are further explain the six core values that licensed professional social workers understand must be upheld daily in their career. According to NASW (1996), the six core values are service, social justice, dignity and worth of the individual, importance and centrality of human relationships, integrity and competence (NASW, 1996). The value of service highlights the ethical principle of serving the community by addressing social issues that may be seen in certain communities. An example of service while being a social worker would be to helpa client who may be homeless find resources to enable him or her to get back on their feet. This could entail assisting the client with being put on the Housing Authority waiting list. The value of social justice is in relation to being an advocate for a client who may be treating unfairly and getting them into a situation in which he or she may have equal rights as others do. As a professional social worker, I feel like that it is only right to be a part of at least one organization that would assist me in learning how to take be an advocate and stand up against various laws that can work against the progression of the community that I may be serving as a professional social worker. By joining educational organizations, I won't just be able to join in activities that would educate and bring awareness to such issues but I would also be building my continuing education that a social worker take part in. The ethical principle defined by the National Association of Social Workers, for dignity and worth of the person is being able to respect clients no matter his or her situation. I believe that this is important as a social worker because this will help in building trust and a relationship with the client. This shows a client that just because they are the ones needing help that they will still be treated with dignity and respect. By being respectful and treating them as a person and not as someone who is looked at as being a bad person would open the door for more opportunities and resources that could be beneficial to the well-being of the client and situation. The importance of human relationships as an ethical principle is understanding that relationships are important while being a professional. This would help the client in building new relationships and build a social worker's expertise to be able to work more effectively with their clientele. Human relationships allow a person to be able to bond and grow more. Integrity and competence is a social worker understanding that he or she must act in a professional way and continue learning daily. As a licensed social worker and student, I am expected to become educated through professional development workshops and attending conferences. Within the State of Alabama, a social worker is to uphold these core values and ethical standards while practicing in the field. The use of supervision is not only an obligation but it is quite beneficial to a licensed social worker. In order for a social worker to keep his or her license, he or she must undergo hours of required supervision. Supervision is beneficial in that it assist a social worker in their ethical conduct. Under State of Alabama laws, a social worker would have to experience a minimum of 4 hours monthly for a continuous period of 24 months within a 36 month timeframe. Supervision would occur starting with having an occupation. Supervision is only completed by licensed professionals who are qualified as a Licensed Master Social Worker or Licensed Independent Clinical Social Worker. The first requirement of supervision is for a Licensed Bachelor Social Worker. If a social worker decides to no longer practice in a specific area, then he or she must complete a minimum of 4 hours monthly for a period of 6 months. Supervision is discontinued upon records and a contract is signed stating the type of supervision and conditions. Social Work Licensure and LawsWhile researching Social Work Licensure and Laws, I learned more about how the state of Alabama follows a standard guideline for the licensure and laws of social work. According to to the Alabama Legislature (1977), Title 34 Section 30 states that a person is not able to give themselves the title or practice social work unless they have been licensed and passed the social work exam (Alabama Legislature, 1977). In order to apply to take the exam, a candidate must be a graduate of an accredited BSW or MSW educational program. The applicant must be 19 years of age, have paid the initial examination fee of $250, passed the examination, signed a notarized statement and sworn of the professional code, and meet any additional requirements based on the level of licensure. In the state of Alabama, there are three types of licensure that are given to those who meet the above requirements. A person can be licensed as a Bachelor Social Worker, Master Social Worker, or an Independent Clinical Social Worker. In order to receive a license for BSW, a person has to have a bachelor degree from an accredited college or university. Furthermore, a person has to show that he or she has a completion of the social work major and completed two years of continuous full-time employment in a social work position under supervision. If a person does not have a Bachelors in social work, a person who has a Bachelor's in a related field, such as sociology, rehabilitation counseling, psychology and guidance counseling is eligible to apply for a MSW program or have a social worker job but will not be titled a social worker. In order to receive an LMSW, a person must have completed the Master or Doctorate of Social Work from an accredited or approved college or university. An exclusion to this requirement is a person who has candidacy that is granted by the Council on Social Work Education. After I graduate with my MSW, I will be seeking my LMSW. I believe that by going further in my education will not only make me more marketable in the social work field, but it will allow me to be more knowledgeable as how to work with clients. To become a LICSW, a person would need either a master's or doctorate of Social Work. A person would also need at least two years of supervision by after graduation, and be a U.S. citizen with appropriate documentation. When and if a person is issued a license from another state, he or she would be required to meet state requirements if qualifications from the other state are not equal to the qualifications of Alabama. However, this is with the exception that the application fee and exam has not been paid or passed. Those persons who are seeking exemption from the Board's examination must meet all qualifications for that specific license and also have completed six years of continuous supervised full-time employment approved by the Board or seven years of continuous full-time employment with a public agency on or before May 1, 1977. In the State of Alabama, a social work license must be renewed every 2 years. The fee for a license renewal is $100. If applicant fails to renew within a 60-day time frame of the expiration date, then the license is either terminated or suspended. Per state of Alabama law, any licensed professional who is actively practicing social work cannot be denied for license renewal. If the applicant would like to remain inactive, then that person may write a request to the Board Examiners to be placed on the inactive list. Social Work Practice Stages The Social Work practice stages are also known as the Generalist Intervention Model (GIM). According to Miller, Tice and Hall (2008), the Generalist Intervention Model is a method of practice that integrates casework, group work, and community organization, and focuses on the interaction between persons and their environments (Miller, Tice and Hall, 2008). The GIM uses engagement, assessment, intervention planning and implementation, evaluation and termination as a way to better assist clients to planned change. An example of utilizing the GIM would be first greeting and welcoming the client. For the purposes of this assignment, we will call the client- Client A. Client A is a female coming to a social worker in efforts of having planned change from her addiction of abusing alcohol. In efforts of demonstrating engagement, the social worker would use proper body language to show that he or she is listening to the client, using appropriate hand gestures and making good eye contact. The social worker would ask Client A to tell her what she thinks her needs are and what resources in the community may be beneficial to assisting her with changing. This would allow Client A to provide detailed information about her current situation and what she thinks about her surroundings. It is important for the social worker to take notes to assist Client A after the initial meeting. However, before taking notes, the social worker should ask Client A for their consent before taking notes. After asking open-ended questions through engagement, the social worker should go over with Client A how the social service agency works and the services that we will provided. Any questions that may be asked of Client A will assist the social worker with assessing Client A's needs. During the assessment portion, the social worker should assess Client A's mental/emotional state, appearance/ mobility, ability to perform her activities of daily living, her environment, health, economic status, education status and transportation needs. The social worker could utilize the tool of an Ecomap to assist her in assessing Client A's needs. For planning and implementation, the social worker should work with Client A regarding a plan that is real and attainable. Client A must believe that the plan will work and must desire to reach goals that will be made together with the social worker. The social worker should prioritize the importance of change and helping Client A understand that change is a good thing. The social worker should assist Client A in understanding how this could benefit her socially. Once the goals are established, the social worker should address the objectives of each task given and how to proceed with actions towards those goals. Since client A is struggling with alcohol abuse, the social work should assist Client A with establishing the goal of: Lessening her urge to drink alcohol. The objective would be for her go to an Alcoholic's Anonymous support group once a week for 6 weeks. The social worker will encourage Client A to keep a journal of her progress and Client A must write in her journal after each support group session and describe her experience. This will assist Client A as well as the social worker in understanding her growth.As a form of evaluation, the social worker will obtain Client A's journal that she has been writing her experience in and Client A will also complete a questionnaire on her progress. Client A would complete the questionnaire two weeks before her last appointment. The questionnaire would ask her about how she thinks she has progressed, services that were rendered, and about the social worker's expertise. Once she has successfully completed her goal, the social worker will talk with Client A about termination two weeks after the last meeting. During this, the social worker will also discuss with Client A her progression. The social worker should encourage Client A to continue with the progress she has made. If needed, the social worker should refer Client A to additional services that may be beneficial to other issues that she may face following termination. It is important for the social worker to follow-up with Client A once services are terminated. Follow-up can help Client A from relapsing or even coming back for services. However, the social worker should give Client A the phone number to the agency in case services may be needed again.Intervention and Developmental Theories for Direct Practice with Individuals, Families and GroupsThere are several theories that are used to explain the behaviors of an individual, and has provided the framework for various models and interventions. One theory that can be utilized is Conflict Theory. Conflict Theory focuses on the structure in an individual's life. This theory would showcase issues that could have occurred through a power struggle between family members or friends as well as in various stages of the individual's life. The conflict theory would then consider the familial structure, and if there is a continuous cycle that may be from the past. There is also the Systems Theory. According to Gibson (2016), Systems theory, also called social systems theory, in social science, is the study of society as a complex arrangement of elements, including individuals and their beliefs, as they relate to a whole (Gibson, 2016). The Systems Theory would show how the individual interacts with others and if there is any correlation between the influences in the client's life and their behavior. The last theory is practice models that focuses on creating an intervention through consultation and assessment of the individual. There are an array of interventions that may be completed, such as the Solution-Focused model, Crisis model, Task-centered model, and the Problem-solving model. The practice models would require more interaction with the client. Life stages would play an important role in each model especially when it comes to understanding what to focus on and what not to focus on. For example, a 50 year old is not at the same stage as a 20 year old because the 50 year old is more experienced with life. Therefore, it is key that the social worker understand this before using the practice models. Diversity/ Social Justice/ Advocacy/ Rural and Urban Communities Diversity, social justice, advocacy for rural and urban communities are at the core of social work. I believe that diversity is more important in urban communities rather than rural communities because individuals are looking for employment and better opportunity for school, homes, and the quality in urban areas. As a social worker working mostly with the older adult population, I work in both urban and rural areas. I observed that the services are limited in rural areas and is especially harder for my clientele to receive the necessary resources, such as transportation to and from their doctor's appointments. I observed that there is a need for more rural social workers to assist clients in obtaining more resources to a better quality of life. Social justice in both rural and urban communities is beneficial as there are most likely political and social issues faced by persons who live there. Some people in rural areas may not even have an opportunity for their social injustice issues to be addressed due the scarcity of resources. As a social worker, it is important to be an advocate for those who may not be heard. Advocacy for rural and urban communities varies due to the resources that the community may be lacking. Sometimes a social worker will have to be an advocate for those living in a rural area for there to be more resources, such as additional transportation for the aging to be able to get to their doctor's appointments that are located in urban communities. The lack of services delays certain individuals from getting the appropriate assistance, and as a result can place the community in a mentality that they are not able to be helped and their voices will never be heard. Policy and Policy Analysis Policy and policy analysis refers to the guidelines that are set to uphold the welfare and good of the clients. Policies are ever-changing and revised in accordance with time. An analysis is completed before a policy is written. The analysis helps in the development of the policy that is brought forth through careful research, surveys, case studies and other tools. It is crucial to have an analysis completed because it provides a thorough evaluation of any revisions or changes that need to be made. It also shows how useful the policy is to the population that is should protect. Understanding the efficiency and the worth of a policy helps lawmakers and other important decision makers. Research, Program Evaluation/Needs Assessment Research, program evaluation, and needs assessment are mainly targeted, not at the needs of one client, but of a client base. A single subject design is conducted for understanding the needs of an individual. In order to conduct research on a specific group of people, there must be an Institutional Review Board. The IRB is also known as a human subject committee is used to oversee research to ensure that it is following the proper guidelines set forth to be able to conduct the research. According to Royse, Thyer, and Padgett (2016) the guidelines include: the research participants must be volunteers, the participants should be given sufficient information about the study to determine possible risks or discomforts as well as benefits, no harm shall result from the study, and sensitive information should remain protected (Royse, Thyer and Padgett , 2016, pp. 45-46). According to Royse, Thyer and Padgett (2016) A program evaluation is conducted to understand if the services are really helping the clients that they are intended to serve (Royse, Thyer and Padgett , 2016, p. 1). During this process, information is gathered to see if the social worker and/or agency are the best fit for the client. According to Royse, Thyer and Padgett (2016), The mission of program evaluation in social work is to provide information that can be used to improve social programs (Royse, Thyer and Padgett , 2016, p. 2). Evaluation can range from a series of open-ended questions to observation of the client base in various environments. According to Royse, Thyer and Padgett (2016), Needs assessment are attempts to identify and document unmet needs, gaps in services, or problems in a community (Royse, Thyer and Padgett, 2016, p. 63). The assessment used would be dependent on how severe the clients' needs are and the type of resources that can be used to assist the clients. The individual conducting the needs assessment can utilize tools, such as surveys, personal interviews, focus groups and etc. to perform a needs assessment.
Wednesday, January 8, 2020
The Lincoln Electric Company s Aspects Of The Company
According to Carpenter, Taylor and Erdogan (2009) Organizational culture could be considered as a system of defining standadrds of appropriate companyââ¬â¢s staff behavior and control of inappropriate companyââ¬â¢s staff behavior, and plays very important role in companyââ¬â¢s life. On the one hand it is absolutely necessary for continuous motivating of workers through sharing of values within organization. On the other hand it is used as means of control since in certain circumstances it has more influence than formal rules and guidelines (Carpenter, Taylor and Erdogan, 2009). Organizational system consists of three aspects: assumptions ââ¬â the deepest level of organizational culture, based on thoughts and understanding about human nature and reality; values, which define standards and principles of work and artifacts ââ¬â really existed things, tangible aspects. The aim of this essay is to analyze the Lincoln Electric Companyââ¬â¢s aspects of the companyââ¬â¢s culture. All aspects will be considered on the basis of study case prepared by A. Sharplin. The company was formally established by John C. Lincoln in 1895. In 1907 James F. Lincoln, Johnââ¬â¢s younger brother, joined the company and later on (in 1914) he was promoted to become General Manager and vice-president. He organized the advisory board the main aim of which was to improve company processes and operations. It was established from the employeesââ¬â¢ representatives. It had a strong impact on the further company life since it was aboutShow MoreRelatedAnalysis Of Lincoln Electric Company Of Cleveland Ohio Usa S Organizational Culture877 Words à |à 4 PagesLincoln Electric Company of Cleveland Ohio USA`s organizational Culture is exceptional and has earned it the acolade of being the best managed manufacturing company in the whole world. I will explore and attempt to identify culture aspects of Lincoln Electric from several issues such as; the continuing influence of founders of the company, the golden rule, the incentive management plan,the performance appr aisal system, how people communicate in the organization, the merit pay plan, the bonus planRead MoreThe Legacy Of Lincoln Electric Company1222 Words à |à 5 Pageswarfare. Lincoln Electric, shares many of the qualities that made Sparta great. It is a company with a focus on mastery, frugality, industriousness, and a culture that aligns everyone towards domination of an industry that they have held leadership in for nearly one-hundred twenty (120) years. In fact, as recently as 2014, they were the largest provider in the welding supplies industry, with over 14% global market share (Samani, 2014). 120 Years of Founder Influence Lincoln Electric Company wasRead MoreThe Legacy Of Lincoln Electric Company1222 Words à |à 5 Pageswarfare. Lincoln Electric, shares many of the qualities that made Sparta great. It is a company with a focus on mastery, frugality, industriousness, and a culture that aligns everyone towards domination of an industry that they have held leadership in for nearly one-hundred twenty (120) years. In fact, as recently as 2014, they were the largest provider in the welding supplies industry, with over 14% global market share (Samani, 2014). 120 Years of Founder Influence Lincoln Electric Company wasRead MoreThe Legacy Of Lincoln Electric Company953 Words à |à 4 PagesFounded in 1895 by John C. Lincoln, the Lincoln Electric Company is a high-quality manufacturer of welding machines and welding equipment based out of Cleveland, Ohio. Lincoln Electric was founded upon a strong foundation of competitive logic, using many levels of synergy in its manufacturing process to create the highest quality welding equipment and the lowest costs. Through the companyââ¬â¢s unique management system and vertical integration strategies, they have created and maintained a strong competitiveRead MoreLincoln Electric Company Based Out Of The East Side Of Cleveland925 Words à |à 4 PagesLincoln Electric is company based out of the east side of Cleveland, OH. Being a Manufacturing company they mainly deal with welding materials and electrodes. The company was started by Lincoln himself back in 1895; with a little inspiration and his second patent on an improv ed Motor. It has been recognized as one of the most stable and great companies to work over the years by multiple different associations. But what contributes to such success? In this essay I will go going through the aspectsRead MoreAnalysis Of The Lincoln Electric Company1164 Words à |à 5 PagesAnalysis of the Lincoln Electric Company Upon review of the Lincoln Electric Company case study conducted by Arthur Sharpish of Harvard University, I came to find that the culture within the company is what elevated Lincoln Electric above all other companies in that field. When analyzing the report I considered many aspects of the company in order to determine what exactly that separates Lincoln from their competition. First, I examined the ongoing influence that has been exerted by the foundersRead MoreCulture Of The Lincoln Electric Company1174 Words à |à 5 PagesWritten Assignment Unit 3 Culture of the Lincoln Electric Company The company culture of Lincoln Electric is one of teamwork, support and innovation. After reading and reviewing the case study done on Lincoln Electric by Arthur Sharplin of McNeese State University, I have come away with a better understanding of how the company has become the role model for management world-wide. Many different programs have been incorporated into the company that insures morale and productivity levels remain highRead MoreAnalysis Of Lincoln Electric s Website878 Words à |à 4 Pages117 Years of Excellence; this is the header of the ââ¬Å"Company Historyâ⬠section of Lincoln Electricââ¬â¢s website. I began the analysis at the careers section, looking through a variety of job descriptions and qualifications. The common requirements for management on the site are a Bachelorââ¬â¢s degree (Masters preferred), 5+ years of previous management experience, experience with Lean/Six Sigma tools to create impactful business improvements, proven experience in implementing and/or running an operationRead MoreLincoln Electric Company s Culture1291 Words à |à 6 PagesThe Lincoln Electric Company s culture is a wonderful example of how to create an exceptional culture within your business. Lincoln Electric has been a leading manufacturer in welding machines and electrodes for over 100 years. During this impressive tenure, the Lincoln Electric Company has adhered to its foundersââ¬â¢ philosophy that the customer always comes first, the employee always comes second, and stockholders come third. This philosophy is upheld throughout the entire organization, fromRead MoreThe Lincoln Electric Company Case Analysis1249 Words à |à 5 PagesThe Lincoln Electric Company Case Analysis Introduction Lincoln Electric Company is a manufacturing company, which has been focusing on welding products for the recent 30 years. The company had outstanding brothers leading the company to success. John was a technical genius and he brought the best skills in production and James was good at management and he was working on the employees incentives. The company gained its reputation through the world war till present as the welding equipment
Monday, December 30, 2019
Reaction Quotient in Chemistry
Reaction quotient is the ratio of the concentrations of the products of a reaction to the concentrations of the reactants.Each concentration is raised to the power of the stoichiometric coefficient in the chemical formula. Finding the Reaction Quotient In general, for the reaction:aA bB ââ â cC dDThe reaction quotient, Q isQ [C]c[D]d/[A]a[B]b
Sunday, December 22, 2019
The Importance Of Being Earnest By Oscar Wild And True West
The epitome of society is easily represented and used within the context of dramatic plays and literature to provide an easier background for the audience to relate including setting, language, character portrayals, and the issue at hand. Moreover, the same theatrical characteristics by writers can be seen at different time periods, but it is nonetheless, effective in communicating toward the audience like The Importance of Being Earnest by Oscar Wild and True West by Sam Shepard. Even though they differ within writing style, character development, setting, and literary elements, both plays have aspects that pull the audience forth into eventually confronting reality. The two works of art consist of a different setting and character buildâ⬠¦show more contentâ⬠¦At the time The Importance of Being Earnest was produced, the low Irish playwright, Wilde, had been struggling with supporting his family and mother while balancing his homosexual affairs with Lord Alfred Douglas. There was pressure to have to rely on Earnest to achieve success and elevate the poor Irish family. When the play did become Wildeââ¬â¢s best hit, he instantly became valued and welcomed into the upper class. Yet, Shephard was already a successful professional American playwright, actor, author, screenwriter, and director when he wrote his play. He had decided to experiment with different dramatic form including the classic family tragedy. These authorsââ¬â¢ backgrounds gave way to their technique of writing to achieve fame and triumph, strengthening the characters to what readers even today can experience themselves. While both the Importance of Being Earnest and True West both contained a comedic and dramatic genre, True West diverged to additionally accommodate family with realism. The main problem throughout the Importance of Being Earnest was the ownership of the name ââ¬Å"Earnestâ⬠. Yet, ââ¬Å"the most earnest looking person [people]â⬠with the name of Earnest are lying to their mistresses to win over their hearts (Jacobus 784). Supplementary, the main protagonists, Austin and Lee, were constantly fighting, but they were skirmishing over scripts, toasters, and pencils! True Westââ¬â¢s illustrated aShow MoreRelatedThe Epithet in the Novel Jane Eyre18849 Words à |à 76 PagesINTRODUCTION The present course- paper is devoted to the comprehensive study of stylistic device ââ¬â the epithet in the literary work ââ¬Å"Jane Eyreâ⬠by Charlotte Bronte. The topicality of chosen by us theme lies in the fact that a human being perceives the reality by means of various images. These images exist everywhere: in art, in nature, in thoughts, and in speech in particular. Each of us at least ones created an image. We use different means (stylistic expressive means and devices) to achieveRead MoreExploring Corporate Strategy - Case164366 Words à |à 658 Pagesplanning the use of these cases within programmes, care needs to be taken to balance the time taken on such strategic analysis so as to allow the time required to analyse the main issues for which the case has been chosen. Where the text and cases are being used as the framework for a strategy programme (as we hope they will), it is essential that students are required to undertake additional reading from other sources and that their ââ¬Ëpracticalââ¬â¢ work is supplemented by other material as mentioned above
Saturday, December 14, 2019
Succubus Dreams CHAPTER 25 Free Essays
Iââ¬â¢d sworn Iââ¬â¢d never go back into my bedroom, but just then, I needed my bed. I spent the rest of the day in it, curled up in the proverbial fetal position. Much like when Iââ¬â¢d made Seth leave, I didnââ¬â¢t feel anything. We will write a custom essay sample on Succubus Dreams CHAPTER 25 or any similar topic only for you Order Now I was dead inside. There was nothing left, nothing in my life, nothing to keep me going. Some wise part of my brain said I should cry. I knew there was grief inside of me, grief that would eventually explode. But I was blocking it for now, afraid to acknowledge that all of this was real or face the consequences. This, I realized, was why Yasmine had screamed. It was a terrible thing to be cut off from something you loved so much. To be cut off from the thing that gave your existence meaning. Hours passed, and light and shadows moved across my bedroom as the sun began its descent. My room grew dark, but I didnââ¬â¢t bother flipping on the lights. I didnââ¬â¢t have the energy or motivation. I donââ¬â¢t know how much time passed before I heard the knock. At first, I wasnââ¬â¢t even sure thatââ¬â¢s what it was. Then, it sounded again ââ¬â definitely someone knocking on my front door. I stayed in bed, not wanting to see or talk to anyone. What if itââ¬â¢s Seth? Some small part of me clung to that hope, that maybe heââ¬â¢d changed his mind. The rest of me didnââ¬â¢t believe it. Iââ¬â¢d seen the look in his eyes. The resolve. He wasnââ¬â¢t coming back. And if he wasnââ¬â¢t coming back, then there was no point in being social. My visitor knocked a third time, louder still. Beside me, Aubrey turned her head toward the living room, then toward me, no doubt wondering why I wouldnââ¬â¢t put a stop to the noise. With a sigh, I crawled out of bed and stalked toward the front of the apartment. Half-way there, I stopped. It wasnââ¬â¢t Seth. ââ¬Å"Georgina!â⬠wailed a twangy soprano voice. ââ¬Å"I know youââ¬â¢re in there. I can sense you.â⬠Iââ¬â¢d sensed Tawny too, of course, which is why Iââ¬â¢d stopped walking. I sighed again, wondering if it would be possible to ignore her. Probably not. Even if I didnââ¬â¢t answer, sheââ¬â¢d probably stand out there all day, now that she knew I was here. I opened the door, expecting to be barreled into with tears and fanfare. Instead, I found Tawny standing calmly outside my door, hesitant to enter. Her eyes were wet after all, but she seemed to be trying very hard to rein herself in. The trembling of her lip suggested that wasnââ¬â¢t going to be easy. And she had a glow. ââ¬Å"C-can I come in?â⬠she asked. I stepped to the side and waved her in. ââ¬Å"You want me to take you out for a drink to celebrate your conquest?â⬠That was it. She lost it. Sobbing into her hands, she sank down on to my loveseat. Still numbed from the Seth fallout, I had no mental energy to deal with this. Not enough energy to hate her, not enough energy to pity her. I was living apathy. ââ¬Å"Tawny, I ââ¬â ââ¬Å" ââ¬Å"Iââ¬â¢m sorry!â⬠she interrupted. ââ¬Å"Iââ¬â¢m so, so sorry. I didnââ¬â¢t want to. I didnââ¬â¢t want to do it. But he told me if I did that itââ¬â¢d pay off for both of us, that heââ¬â¢d pull strings to get me faster advancement and that Iââ¬â¢d ââ¬â ââ¬Å" ââ¬Å"Whoa, hang on,â⬠I said. ââ¬Å"Whoââ¬â¢s ââ¬Ëheââ¬â¢? Niphon?â⬠She nodded and produced a pack of tissues from her purse. At least she traveled prepared now. She blew her nose loudly before going on. ââ¬Å"He told me to fake it ââ¬â fake being bad. I meanâ⬠¦well, actually, I am kind of bad. Okay, a lot bad. I canââ¬â¢t flirt like you. And I really canââ¬â¢t dance.â⬠She paused a moment, as though this caused her particular pain. ââ¬Å"But you were right in saying it was impossible for me to not get sex from someone. I did. I just lied and said I couldnââ¬â¢t.â⬠It was just as Iââ¬â¢d suspected for a while now, but hearing her confirm it didnââ¬â¢t really cheer me up. It was yet another reminder of all the miserable things in my life these last couple of weeks. Staring at her, I still couldnââ¬â¢t bring myself to feel angry at her. Partially because I was still drained of feeling and partially because it just wasnââ¬â¢t worth it. Niphon had used her to play me, but heââ¬â¢d played her too. ââ¬Å"Youââ¬â¢re a good liar,â⬠I told her finally. ââ¬Å"I could never be sure if you were telling the truth or not ââ¬â but you seemed to be. Iââ¬â¢m usually good at reading people.â⬠Tawny smiled, just a little, with something almost like pride. ââ¬Å"I hustled people a lot when I was mortal. Worked some con jobs.â⬠The smile disappeared. ââ¬Å"Until that asshole dumped me for a cheap blond whore. She had no idea what she was doing, but did he care? No. Dick. Heââ¬â¢s sorry now. They both are.â⬠I blinked. I hadnââ¬â¢t expected to hear that. I wasnââ¬â¢t sure I wanted to hear that. Suddenly, Tawnyââ¬â¢s initial desire to make men everywhere suffer made a lot more sense ââ¬â as did the reason she might have sold her soul in the first place. I hoped her current appearance wasnââ¬â¢t some weird bastardization of the cheap blond whore. Because that would just be kind of creepy. ââ¬Å"Well, um, Iââ¬â¢mâ⬠¦sure they are. And you know, the skills you need to hustle and con arenââ¬â¢t that different from seduction.â⬠Maybe it was the moving and talking, but as I sat there, my sluggish brain began to stir to life and analyze the situation. ââ¬Å"Tawny, why are you telling me this? If youââ¬â¢re working for Niphon, heââ¬â¢s probably not going to appreciate you blowing his cover.â⬠ââ¬Å"Youââ¬â¢re right. He doesnââ¬â¢t know Iââ¬â¢m here. Butâ⬠¦but I was afraid. I know itââ¬â¢ll all come out if you tell, and I donââ¬â¢t want to go down with him! I thought if I came and talked to you and told you what happened that maybeâ⬠¦maybe you could forgive me. Iââ¬â¢m starting to like it here. I donââ¬â¢t want to leave. And if they punish him, theyââ¬â¢ll punish me too and ââ¬â ââ¬Å" ââ¬Å"Wait, wait. Stop again. Punish him for what? For getting you to lie?â⬠I frowned. ââ¬Å"And what is it Iââ¬â¢m going to tell?â⬠Tawny was so surprised that she forgot to sniffle. ââ¬Å"About her.â⬠ââ¬Å"Her?â⬠ââ¬Å"That ââ¬â that hag. The one who came into my dreamsâ⬠¦Ã¢â¬ ââ¬Å"Nyx? Oh. That really is how you hid your glow. Hugh was right.â⬠ââ¬Å"I hated it,â⬠said Tawny vehemently. ââ¬Å"Every time he made me go to her so she could suck me out. And then Iââ¬â¢d have such weird dreams.â⬠Think, Georgina, think! It was all coming together here if I could just put my own romantic disaster off to the side of my mind for a moment. ââ¬Å"Youâ⬠¦went to Nyx willingly? To have your energy sucked out so I wouldnââ¬â¢t find out that you were lying?â⬠Tawny nodded. My brain hurt. ââ¬Å"And he ââ¬â Niphon ââ¬â made you, and ââ¬â â⬠I stopped. ââ¬Å"Niphon knew about Nyx. You both did. And how to find her.â⬠ââ¬Å"Heââ¬â¢s the one who got her to come here when she escaped. Promised her two succubi,â⬠sniffed Tawny. She gave me a puzzled look. ââ¬Å"I thoughtâ⬠¦I thought you knew all that? I heard you were there when they captured herâ⬠¦Ã¢â¬ Tawny looked a little nervous, like she was wondering if maybe sheââ¬â¢d done the wrong thing in betraying Niphon. As for me, I was suddenly reliving the battle back in my bedroom and Nyxââ¬â¢s offer to help me get revenge on the one whoââ¬â¢d sent her after meâ⬠¦. Niphon. ââ¬Å"Niphon?â⬠I exclaimed. ââ¬Å"Niphon sent a crazy chaos goddess after me? Why? Why does he hate me that much?â⬠Tawnyââ¬â¢s eyes went wide, no doubt surprised at my sudden outburst. ââ¬Å"Iâ⬠¦I donââ¬â¢t know. He just said that he wanted to make things difficult for you. Screw up your life. Maybe get you sent away.â⬠Hughââ¬â¢s words came back to me. All I know is that when an imp shows up and is going to this much trouble over something, the evidence suggests itââ¬â¢s big. My heart raced, and I grabbed hold of her hand. ââ¬Å"Tawny. Did he ever say anything about my contract? Any contract at all?â⬠She shook her head frantically, tousling her blond curls even more than they already were. ââ¬Å"No, not while I was around.â⬠ââ¬Å"Are you sure? Think! Think of anything, anything at all he might have said to explain why he did what he did.â⬠ââ¬Å"No, nothing!â⬠She broke her hand away. ââ¬Å"Iââ¬â¢m telling you the truth this time. He just made it sound as thoughâ⬠¦well, like he didnââ¬â¢t like you. He wanted you to be unhappy. Suffer. I donââ¬â¢t know.â⬠Niphon. So many things could be laid at his feet. According to Tawny, heââ¬â¢d used her to make me look like a bad mentor (which I was, kind of) and possibly get sent away. The imp had also talked to Seth about selling his soul ââ¬â despite my warnings. Sethââ¬â¢s decision to leave me had been his own, true. But, I realized, Niphon had played a role in getting Seth to think about such things. The distraction Nyx had caused ââ¬â which apparently Niphon had brought about too ââ¬â had cut me off from spending time with Seth. Realizing how close heââ¬â¢d been to selling his soul had driven Seth away. The fear of how that would affect him and me both had been too strong ââ¬â strong enough that he chose to walk away from me. ââ¬Å"Georgina?â⬠I made a decision then. It wasnââ¬â¢t going to change what had happened with Seth and me, but it was going to make me feel better. ââ¬Å"Georgina?â⬠repeated Tawny, peering at me. ââ¬Å"Are you okay? You arenââ¬â¢t going to get me sent away, are you? Georgina?â⬠I rose from my chair, surprised at how my muscles had become kinked. No longer wanting to be dressed up, I shape-shifted out of the dress and into jeans and an empire cut sweater. Black. Like my mood. I glanced over at Tawny. ââ¬Å"You want to go to a party with me?â⬠I drove us over to Peter and Codyââ¬â¢s, where the ââ¬Å"evilâ⬠holiday party was taking place. I barely noticed that it was raining again. I walked up the buildingââ¬â¢s stairs like one going to her own funeral, grim and purposeful ââ¬â and with enough speed that Tawny had to scurry to keep up in her stilettos. When I felt the immortal signatures within the apartment, smug relief flooded me upon discovering Niphon was still there. Peter opened the door before I finished knocking. He wore a red sweater with an appliqu?à ¦ Santa on it. It matched his tree, of course. ââ¬Å"Look at this,â⬠he said sarcastically. ââ¬Å"She deigns to show up and join us lowly ââ¬â ââ¬Å" I strode past him without a word. He gaped. Moving through the room, I was vaguely aware of the others there. Jerome. Cody. Hugh. But I didnââ¬â¢t want any of them. Niphon, standing with a glass of wine, regarded me with curious amusement as I headed straight for him. Considering I usually avoided him if it all possible, my approach undoubtedly astonished him. But not as much as when I punched him. I didnââ¬â¢t even need to shape-shift much bulk into my fist. Iââ¬â¢d caught him by surprise. The wineglass fell out of his hand, hitting the carpet and spilling its contents like blood. The imp flew backward, hitting Peterââ¬â¢s china cabinet with a crash. Niphon slumped to the floor, eyes wide with shock. I kept coming. Kneeling, I grabbed his designer shirt and jerked him toward me. ââ¬Å"Stay the fuck out of my life, or I will destroy you,â⬠I hissed. Terror filled his features. ââ¬Å"Are you out of your fucking mind? What do you ââ¬â â⬠Suddenly, the fear disappeared. He started laughing. ââ¬Å"He did it, didnââ¬â¢t he? He broke up with you. I didnââ¬â¢t know if he could do it, even after giving him the spiel about how itââ¬â¢d be better for both of you. Oh my. This is lovely. All your so-called charms werenââ¬â¢t enough to ââ¬â ahh!â⬠Iââ¬â¢d pulled him closer to me, digging my nails into him, and finally, I felt an emotion. Fury. Niphonââ¬â¢s role had been greater than I believed. My face was mere inches from his. ââ¬Å"Remember when you said I was nothing but a backwoods girl from some gritty fishing village? You were right. And I had to survive in gritty circumstances ââ¬â in situations youââ¬â¢d never be able to handle. And you know what else? I spent most of my childhood gutting fish and other animals.â⬠I ran a finger down his neck. ââ¬Å"I can do it for you too. I could slit you from throat to stomach. I could rip you open, and youââ¬â¢d scream for death. Youââ¬â¢d wish you werenââ¬â¢t immortal. And I could do it over and over again.â⬠That wiped the smirk off Niphonââ¬â¢s face. Behind me, the rest of the room had come to life. ââ¬Å"For fuckââ¬â¢s sake,â⬠yelled Jerome. ââ¬Å"Get her off him.â⬠Strong hands pulled me back, Cody and Hugh each grabbing one of my arms. I fought against them, struggling to get back to a cringing Niphon. My friends were too strong. I couldnââ¬â¢t break free and didnââ¬â¢t have the life left to shape-shift added bulk. ââ¬Å"Get rid of him, Jerome!â⬠I yelled. ââ¬Å"Get rid of him, or I swear to God, I really will rip him apart. He set me up to fail with Tawny. He brought Nyx here, for fuckââ¬â¢s sake! Get rid of him!â⬠I saw my bossââ¬â¢s face. He didnââ¬â¢t like being yelled at or ordered around ââ¬â particularly in front of others. His face was hard and angry. I could tell he was about to tell me to shut up, and then something in his expression shifted. He turned his attention back to Niphon. ââ¬Å"Get out,â⬠the demon said. Niphon stared open-mouthed. Very fishlike, actually. ââ¬Å"Jerome! You canââ¬â¢t just ââ¬â ââ¬Å" ââ¬Å"Get out. I know what you were trying to do, but you shouldnââ¬â¢t have done it behind my back. Go back to your hotel, and be out of town by tomorrow.â⬠Niphon still wanted to protest. But then, he looked at Jerome, looked at me, and then looked at Jerome again. Swallowing, the imp scrambled to his feet and grabbed a briefcase sitting on the couch. With one more glance back at me, he ran out the door. Jeromeââ¬â¢s gaze fell on Tawny, who was pressing herself against the wall in a futile effort to disappear. ââ¬Å"Itââ¬â¢s not her fault,â⬠I said quickly. ââ¬Å"Donââ¬â¢t punish her.â⬠Jerome studied her a few more moments before sighing impatiently. ââ¬Å"Later. Iââ¬â¢ll deal with you later.â⬠I wasnââ¬â¢t sure if that was a good thing or not, but the fact that he hadnââ¬â¢t smote her on the spot was a positive sign. Judging from the grateful look on her face, she agreed. Cody and Hugh still had a death grip on me, but after several moments, they released me. I sagged with exhaustion, surprised to see I was breathing heavily. Tension filled the room. Finally, Cody said, ââ¬Å"Where did you learn to throw a right hook?â⬠ââ¬Å"You donââ¬â¢t live through the Dark Ages without learning stuff like that,â⬠mused Peter. He glanced at the spilled wine and sighed. ââ¬Å"Club sodaââ¬â¢s not going to get that out.â⬠ââ¬Å"Georgie,â⬠said Jerome in a rumbling voice. ââ¬Å"Do not ever speak to me like that.â⬠I steadied my breathing and swallowed back the bloodlust coursing through me. I met Jeromeââ¬â¢s dark eyes defiantly. ââ¬Å"Noted,â⬠I said. Then, unable to handle my friendsââ¬â¢ looks of both astonishment and concern, I ran out of the apartment. I made it down one flight of stairs before collapsing and sitting on the landing. I buried my face in my hands and started sobbing. The grief had finally won. A few minutes later, I heard footsteps on the stairs. Hugh sat down beside me and put his arms around me. I pressed my face to his chest and kept crying. ââ¬Å"Youââ¬â¢ll get over this,â⬠he said quietly. ââ¬Å"No. I will never get over this. Iââ¬â¢m alone. I wish I was dead.â⬠ââ¬Å"No, you donââ¬â¢t. Youââ¬â¢re too wonderful and have too many people who love you.â⬠I lifted my head and looked at him. Iââ¬â¢d never seen his face so compassionate, so serious ââ¬â except when heââ¬â¢d yelled at Seth during poker. I sniffed and ran a hand over my wet eyes. ââ¬Å"We broke up. This is what you wanted. You didnââ¬â¢t want me and Seth to be together.â⬠Hugh shook his head. ââ¬Å"I like Seth. I want you to be happy. If you could be together without all the heartache, Iââ¬â¢d send you on with my blessing. But I donââ¬â¢t think thatââ¬â¢s possible. I think this is best.â⬠ââ¬Å"You told him the only way Iââ¬â¢d let him go is if he hurt me, if he was an asshole. Do you think thatââ¬â¢s why he did it? Slept with Maddie? Because only something drastic would drive me away?â⬠Hugh looked surprised at the reference to Maddie. ââ¬Å"I donââ¬â¢t know, sweetie. I donââ¬â¢t know what he was thinking.â⬠Sighing, I leaned back into him. ââ¬Å"I will never get over this.â⬠ââ¬Å"You will.â⬠ââ¬Å"Itââ¬â¢s going to take a lot of time.â⬠ââ¬Å"Well, you have a lot of time.â⬠How to cite Succubus Dreams CHAPTER 25, Essay examples
Friday, December 6, 2019
Risk Management by Investors Saudi Aramco
Question: Discuss about the case study Risk Management by Investors for Saudi Aramco. Answer: Introduction: Saudi Aramco, a state-owned oil company owned by the Kingdom of Saudi Arabia, is a fully unified worldwide petroleum and chemicals enterprise. In recent times the company is partnering with leading global companies across the world with an aim to strengthen its downstream business and to achieve competitive advantage from its operations in exploration, production and marketing (Company Website). Key highlights: Headquarter: Dhahran, Saudi Arabia Workforce: More than 65,000 workers and employees worldwide Global Presence: Saudi Arabia, China, Egypt, Japan, India, the Netherlands, the Republic of Korea, Singapore, The United States of America and the United Kingdom. Main Partners, Ventures Affiliates: Saudi Aramco Products Trading Company, Sadara Chemical Co., The Saudi Aramco Total Filtering and Petrochemicals Firm, Fujian Refining Petrochemical Company and S-OIL, South Korea Saudi Aramco, on 08th January 2016, announced and confirmed that the company was studying various plans and options to allow more public participation in its equity shares through sale of an appropriate percentage of its equity stake in its main business through listing in capital markets and through Listing or privatizing some of its downstream subsidiaries. In the present report we will be discussing about the Risk and risk analysis risk management for the various risks as identified for the probable investors of Saudi Aramcos and its downstream subsidiaries equity shares in capital markets. After having identified the various risks we will try to create a risk register containing information about various risks faced by the investors, its severity, probability of occurrences and mitigation plans if any. Then we will perform qualitative risk assessment and try to create risk assessment matrix for various risks to categorize the risks into Low, Medium or High risks and prioritize which risks need to be addressed for mitigation first. After having done all the above we will then discuss the possible risk mitigation strategies available to the investors for various risks mitigation if possible. Risks and Risk Analysis Management - Introduction Risk may be defined as the possibility of occurrence of unexpected outcome or loss (Bouchet, Clark Groslambert 2003). Risk can be bifurcated into four factors viz. probability of occurrence of an event, severity of unwanted impact, external impacts and interdependency with other influences or risks. Risks Analysis Management may be defined as the process of identification of risks, assessment of magnitude of risks, measuring impact of risks and implementation of risk mitigation techniques (Gitman, Joehnk Billingsley 2014). Risk management helps in identification of various risks specific to a project / activity / organization and responding to them in best possible ways to eliminate or mitigate the impact of such risks on project / activity / organization (Merna 2007). Qualitative Risk Identification for Risks to Investors The investors in the capital markets as well as the investors in private investing activities are prone to number of risks for their investments in the companies through the route of share markets or direct investments privately. The following may be categorized as the different risks faced by the investors for their probable investments in the Saudi Aramco or its downstream subsidiaries (Merna 2007): Country Risk: Country risk refers to the risk type which takes shape due to the inherent characteristics of a country based on its geographic and demographic features. The major business operations of the company are geographically located in Saudi Arabia and Middle East. The said geographical area of the globe is prone to unrest and civil war situations thus creating a country risk for the investors. Political Risk: Political risk refers to the risk type which is present due to the political structure and scenarios which were present in the country in the past and the scenarios which are expected to take shape in the future. Saudi Arabia is under the Kingdom Rule creating a Monarchy political situation in the country. It is generally observed that under Monarchy rule the business operations are influenced by the changing political policies of the Kingdom. Industry Risk: Industry risk refers to the risk type which is inherent in the industry in which the main business operations of the company are taking place. Some industries are more prone to risks as compared to other industries. Saudi Aramco deals in oil industry which is the worlds biggest industry but is also prone to various factors including cartels for administering the production of the limited natural resource and the prices of such products. Company Risk: Company risk refers to such risk type which is inherent due to the policies, operations, procedures and management decisions of a company itself. It is generally believed that this risk is the most prevalent in the investments and is also able to avoid this risk by having a diversified investment portfolio by the investors. Saudi Aramco since deals in oil products has inherent risks in its business operations. It deals in production of natural resources which are limited and thus creates a limit on the size a company can attain. Currency Risk: Currency risk refers to the risk type which takes shape when the home currency of the company is different from the operating currency of the company and thus forces a company to have exposure in the number of currency conversion transactions. Saudi Aramco investments have inherent currency risk as the home currency of the company is different from the operating currency of the company. The company needs to incur every expense in terms of US Dollar which is the prevalent currency in oil industry. Investment Risk: Investment risk refers to the risk type which the investors face for the possibility of not being able to recover their initial investment value due to any contingency especially in the situation of possible bankruptcy of the company. Investors of the Saudi Aramco company faces an investment risk for not being able to recover their investments due to possibility of company going bad due to such vulnerable business environment in which the company operates. Legislative Risk: Legislative risk is the risk type which is present due to the changing legislative requirements of the country in the company operates. Changing legislative requirements in the country will always have significant impact on the business operations of the company and may also outcome in rise in the action expenses for the company in-order to conform to the moving legislative necessities. Volatility Risk: Volatility risk is the type of risk which is inherent in the capital markets in which the shares of a company trades. Volatility refers to the changes in the market prices that the share of the company is able to command in the capital markets. Capital markets are often faced with the volatility in the prices of share and securities. Investors of Saudi Aramco will also face such volatility risk in their investments. Liquidity Risk: Liquidity risk refers to that risk type in which the investors are able to convert their investments into cash as and when they feel and is profitable to them. As already discussed about the business operations, political situation in the home country and the geographical presence of the company, the future investors may shy away to invest in the company thereby making the investments of the investors less liquid in the capital markets. Credit Rating Risk: Credit rating risk refers to that risk type which is due to the ratings given by different credit rating agencies to the different companies based on different parameters. There are different credit rating agencies which issues credit ratings for the different companies across the globe. There may be a possibility for the credit rating agency to downgrade the ratings of Saudi Aramco due to changing oil industry and other company specific reasons. This downgrade will result in the loss to the investors due to fall in the value of their investments in capital markets. Risk Register and the Severity of Risks Identified The below mentioned table is a Risk Register for the various risks identified for the investors for their probable investments in the Saudi Aramco or its downstream subsidiaries which describes about the probable risks, risks type, impact of Risks, impact description, probability of occurring, timeline in which the risk is expected to occur, status of responses by investors, any completed actions by investors to mitigate the risk, any planned future actions by the investors to mitigate the risk and risk status as on date (Burtonshaw-Gunn): 1. Basic Risk Information 2. Risk Assement Information 3. Risk Responce Information Risk Number Risk Description / Risk Event Statement Risk Type External /Internal Impact High / Medium / Low Impact Description Probability High / Medium / Low Timeline Near term /Mid term /Far term Status of Response No Plan / Plan Enacted / Effective Plan Enacted Finalized Actions Strategic Future Actions Risk Status Open / Closed / Moved to Issue R 1 Country risk may effect in investments to loose worth in global markets External Low Value of the investments may loose worth as the reserves in the country is no longer viable for global investors Low Far term No Plan N/A N/A Open R 2 Political risk in the country may make business operations on the company financially unfeasible External Medium Profitability of the company may take a impact due to changing political environment as the country is under kingdom rule Low Far term Plan Enacted N/A Make cartels in the industry to influence the political situation in the country Open R 3 Industry risk in the oil industry will result in low prices of the products External High Prices of the product may fall to such lows to make negative cash flows to the company Medium Mid term Effective Plan Enacted OPEC formed to administer prices of the oil industry products N/A Closed R 4 Company policies and announcements may lead to fluctuations in the prices of the shares in capital markets Internal High Profitability and prices of shares of the company may be impacted High Near term No Plan N/A N/A Open R 5 Currency of the country in which the investment is valued may fluctuate in the currency markets External Low Currency fluctuation may result in variations in the value of investments High Near term No Plan N/A N/A Open R 6 Investment risk may result in the investments go bad Internal High Investments in the company may go bad due to company's bankruptcy High Mid term Plan Enacted N/A Offer management expertise in the company to successfully run the business operations Open R 7 Legislative requirements in the country may result in higher operational costs for the company External High Profitability of the company may be impacted due to changing legislative requirements in the country Low Mid term No Plan N/A N/A Open R 8 Volatility inherent in the capital markets may impact share prices External High Price of the shares may take a plunge due to volatility in the capital markets High Near term Plan Enacted N/A Try to minimize the volatility in the company's shares by actively trading in the market Open R 9 Liquidity risk may result in less buyers in future Internal Medium Stake sale will not be possible due to less buyers in the market in future Low Mid term Plan Enacted N/A Arrange an investment banker to discuss the ways in which the stake may be sold in future Open R 10 Credit rating agencies may downgrade the company Internal Low Company's value in the eyes of probable investors may fall due to adverse credit ratings Medium Mid term Effective Plan Enacted Discussions with the credit rating agencies to avoid their apprehensions about the company N/A Closed Qualitative Risk Assessment for Risks to Investors The below mentioned table is a risk Qualitative Risk Assessment Matrix for the various risks identified for the investors for their probable investments in the Saudi Aramco or its downstream subsidiaries (Anthony 2008): Probability Extremely Unlikely Very Unlikely Likely Very Likely Extremely Likely Impact Very Low Low Country Risk Credit Rating Risk Currency Risk Moderate Liquidity Risk Political Risk High Legislative Risk Industry Risk Volatility Risk Very High Investment Risk Company Risk Low Risk Medium Risk High Risk As per the risk matrix above the risks faced by the investors can be categorized into three different categories: Low Risk (Green): The following risks may be categorized as low risk category Country Risk: Very unlikely probability of occurring with low impact on investors Liquidity Risk: Extremely unlikely probability of occurring with moderate impact on investors Medium Risk (Yellow): The following risks may be categorized as medium risk category Credit Rating Risk: Likely probability of happening with low outcome on investors Currency Risk: Very likely probability of occurring with low impact on investors Political Risk: Very unlikely probability of occurring with moderate impact on investors Legislative Risk: Very unlikely probability of occurring with high impact on investors High Risk (Red): The following risks may be categorized as high risk category Industry Risk: Likely probability of occurring with high impact on investors Volatility Risk: Extremely likely probability of occurring with high impact on investors Investment Risk: Very likely probability of occurring with very high impact on investors Company Risk: Extremely likely probability of occurring with very high impact on investors As per the risk matrix above the risks faced by the investors are categorized into three different categories according to which the risks can be prioritized by the investors to be considered for mitigation if possible. As per risk matrix it is advisable to first consider the High risk types (Red) for mitigation followed by Medium risk types (Yellow) and lastly Low risk types need to be considered for mitigation if possible. Qualitative Risk Mitigation Strategies available to Investors As per Risk Register and Risk Assessment Matrix it can be observed that there are a number of risks faced by the investors of Saudi Aramco and such risks have different probabilities of occurrence and different magnitude of impact of the investors. It can also be observed that different risks have different timelines for their occurrences and different status of responses along-with different risk status post mitigation of such risk if possible. Based on risk assessment matrix it can be observed that risks are categorized as Low, Medium and High Risks and based on such categorization the following risk mitigation strategies may be adopted for the risks faced by the investors: References Anthony, L. (2008), What's Wrong with Risk Matrices?, Society for Risk Analysis, Vol. 28, Issue 2, pp. 497-512, viewed on 14 July 2016, Retrieved from https://onlinelibrary.wiley.com/doi/10.1111/j.1539-6924.2008.01030.x/full. Bouchet, M., Clark, E. Groslambert, B. (2003), Country Risk Assessment: A Guide to Global Investment Strategy, Wiley: Great Britain, Retrieved from https://books.google.co.in/books?hl=enlr=id=sKx_6770QxsCoi=fndpg=PR5dq=qualitative+risk+assessment+to+share+investorsots=xrM5NsJf25sig=JmCA39DoRrTxNSmeeBs4cGmIB84#v=onepageq=qualitative%20risk%20assessment%20to%20share%20investorsf=false. Burtonshaw-Gunn, S., Risk and Financial Management in Construction, GPM First, viewed on 14 July 2016, Retrieved from https://www.gpmfirst.com/books/risk-and-financial-management-construction. National Research Council, The Owners Role in Project Risk Management Risk Mitigation, Committee for Oversight and Assessment of U.S. Department of Energy Project Management, The National Academies Press: USA, Retrieved from https://www.nap.edu/read/11183/chapter/7. Courbage, C. (2016), The Geneva Papers: 40 Years at the Cutting Edge of Research in Insurance Economics, Macmillan Publishers Limited: UK, Retrieved from https://books.google.co.in/books?id=HugdCwAAQBAJpg=PT68lpg=PT68dq=qualitative+risk+assessment+by+share+investorssource=blots=gb4Ycm3dCSsig=cuHbcxcgEeOuxz-OktLJ102e3tUhl=ensa=Xved=0ahUKEwivo5Wdn_DNAhVMtY8KHbYKDQ04ChDoAQhMMAg#v=onepageq=qualitative%20risk%20assessment%20by%20share%20investorsf=false. FAO, Qualitative risk characterization in risk assessment, viewed on 14 July 2016, Retrieved from https://www.fao.org/3/a-i1134e/i1134e03.pdf. Financial Stability Report (2014), Risk Assessment, eiopa.europa.eu, viewed on 14 July 2016, Retrieved from https://eiopa.europa.eu/Publications/Reports/5.Risk_assessment.pdf. Gitman, L., Joehnk, M. Billingsley, R. (2014), PFIN, South-Western Cengage Learning: USA, Retrieved from https://books.google.co.in/books?id=rCALWobRny4Cpg=PA270lpg=PA270dq=qualitative+risk+assessment+by+share+investorssource=blots=ooqpNk2Comsig=ISQ71h3MHDHcsqKrHBMgO2blKFMhl=ensa=Xved=0ahUKEwiv0IiQn_DNAhUUSY8KHTOQDm0Q6AEISDAG#v=onepageq=qualitative%20risk%20assessment%20by%20share%20investorsf=false. McDonald, M., Ward, K. Smith, B. (2007), Marketing Due Diligence: Reconnecting Strategy to Share Price, Elsevier: The Netherlands, Retrieved from https://books.google.co.in/books?id=v99bAwAAQBAJpg=PA39lpg=PA39dq=qualitative+risk+assessment+by+share+investorssource=blots=GDMxidAe2tsig=Hz7UCx1bXeyPHrytc1BIB0g8y1ohl=ensa=Xved=0ahUKEwivo5Wdn_DNAhVMtY8KHbYKDQ04ChDoAQg4MAQ#v=onepageq=qualitative%20risk%20assessment%20by%20share%20investorsf=false. Merna, A. (2007), Risk Management Study Guide, Manchester Business School, Accounting and Finance Division Setten, L. (2009), The Law of Institutional Investment Management, Oxford: India, Retrieved from https://books.google.co.in/books?id=-7jn5H9URjUCpg=PA155lpg=PA155dq=qualitative+risk+assessment+by+share+investorssource=blots=tS9jnzIWJQsig=t0Ibas0tXB4QrbUh4hOZULNtgiUhl=ensa=Xved=0ahUKEwivo5Wdn_DNAhVMtY8KHbYKDQ04ChDoAQhJMAc#v=onepageq=qualitative%20risk%20assessment%20by%20share%20investorsf=false. Saudi Aramco, Statement by Saudi Aramco 08 January 2016, viewed on 14 July 2016, Retrieved from https://www.saudiaramco.com/en/home/news-media/news/statement-by-saudi-aramco.html. Saudi Aramco, Company Website, viewed on 14 July 2016, Retrieved from https://www.saudiaramco.com/en/home.html.
Subscribe to:
Posts (Atom)