The Poor Quality Of Risk Management - 3062 Words

CHAPTER 1 1.1 INTRODUCTION In the past few years, there has been a considerable amount of interest shown by the construction industry in terms of risk management techniques used. The significance of proper risk identification and management has reached across the broad underwriting lately, in that its essential in that amid the early phases of examination of the project. It is of direct assistance in establishing project constraints and provides useful data to assist the choice between projects. Risks in building projects are treated with little care by contractors and if they are not treated accordingly over the time period, it could contribute to the project in a negative way. Risks are seen as a probability of occurrence of a†¦show more content†¦Today it is virtually certain to be inadequate. Failure to some projects have been attributed to lack of proper risk management strategies. There is therefore a need to understand these issues, that is, the risks when constructing residen tial buildings. This project will look at risk management strategies used by contractors in Lagos state, Nigeria. Risk Management Strategies seek to ensure that all goes according to plan and project objectives are achieved. 1.2 AIM The main aim of this project is to carry out a study of the nature of risk associated with residential building construction work and strategies used by contractors curtailing effects of risk on selected sites of Lagos state. 1.3 OBJECTIVES The objectives are: 1. To identify nature of risks associated with residential building construction within Lagos State. 2. To evaluate risk management strategies used by building contractors in Lagos state. 3. To analyze risks analysis techniques used by these professionals in the construction industry. 4. To identify the best practice of Risk Management strategies initiated at different stages in the project life cycle. 5. To provide recommendations for project managers of residential building project based on best practice. 1.4 PROJECT DELIVERABLES The project deliverables are: 1. A literature review covering the nature of risks associated with residential building construction and risk management used within Lagos State. 2. An analysis of risks analysis

The Mexican Peso Crisis of December 1994 Free Essays

There are three different types of foreign exchange regimes that can be used by developing countries once their currency has stabilized. The first one is called the managed float. Also called the dirty float, the managed float is a system when exchange rates are able to change due to the nature of the market, but leaves the option for the government to intervene if the fluctuation is not desired. We will write a custom essay sample on The Mexican Peso Crisis of December 1994 or any similar topic only for you Order Now It is the regime that has been used by the monetary system since 1973. The second regime is called the crawling band. The crawling band, in this case, would combine Mexico’s crawling peg with a wider band. The crawling band is a compromise between a system of entirely fluctuating exchange rates and those that are inflexible. The parity levels would be adjusted either up or down as a moving average of the actual exchange rates that would fluctuate on a wider band. The exchange rate would be only allowed to move a maximum percentage. The amount of the percentage is called the annual crawling peg. The wider band that would cover the crawling peg would allow for the actual exchange rate to fluctuate. The third regime is called the floating exchange rate system. Also called the flexible exchange rate system, the exchange rate fluctuates based solely on market forces in this regime. A floating system allows countries to have independent monetary and fiscal policies. Also, central banks would not have to hold onto a large international reserve to back a fixed exchange rate system. Capital flight was one of the main reasons for Mexico’s financial collapse of the peso. Capital flight is when assets and money flow out of a country due to an economic event that doesn’t assure investors things are okay. Capital flight differs from capital flow because capital flight occurs when investors feel that prices are about to fall and it becomes a race to get your money out before the prices fall. The assassination of presidential candidate Luis Colosio definitely played a factor in the capital flight out of Mexico. In 1994, the United States, the International Monetary Fund (IMF), and a few others created a rescue package for Mexico. The United States put up $20 billion of the $50 billion for Mexico. The IMF guaranteed a credit agreement with Mexico for about $17. 7 billion. The Bank of International Settlements offered $10 to Mexico and The Bank of Canada offered about $1 billion. It was not just Mexico mismanagement that caused this crisis. The assassination of the presidential candidate was something that could not have been avoided and it caused to crisis to worsen even more. It seems like that event was the â€Å"last straw on the camel’s back†, so to say. In order to prevent this crisis from happening in the future, Mexico should pay closer attention to its current account balance. Now that this has happened once, Mexico should know what to look for in order to stop it before it gets even worse. Overall, the aid package was risky on the United States to do. No one was certain that Mexico would be able to pay back the money. The United States could just not do anything though. We have close ties with Mexico through the North American Free Trade Agreement (NAFTA). We weren’t just going to let Mexico fail. Just like the IMF helped Mexico back in 1994, they are currently lending to countries in need today. Countries with emerging markets such as Belarus, Hungary, Iceland, Latvia, Pakistan, Poland, Romania, Serbia, Sri Lanka, and Ukraine are receiving capital from the IMF. Almost always, low-income countries are also receiving money from the IMF. How to cite The Mexican Peso Crisis of December 1994, Essay examples

Healthcare Service Marketing

Question: Write an essay on Healthcare Service Marketing. Answer: Healthcare service marketing: Marketing is defined as a tool for execution of the conception, pricing, promotion and distribution of the goods, ideas and service. Here the term health care marketing is applied to understand the medication in the area of health care marketing. It is noticed that though there is a restrictive plans such as the medicare, it is observed that elective must be provided. With medicare is long considered as the process of service which is not covered to the patients. There are some common examples such as the gastroenterology service, sigmoidoscopies services, weight control service are certain number of services which can be provided for a particular diagnosis (Blackwell et al., 2015). With the rapid growth and expansion of managed care and especially with the squeezing out of the specialist it has already been observed that the healthcare marketing is expanding for elective care. In addition to this some of the typical services like digestive disease procedure by the gastroenterologist along with that it has also been notice that services like blepharoplasty Below listed in the referral map which reflects the healthcare marketing service Where Business Originates Nutritional Consultant and Diablites screening Figure 1: Referral map for healthcare marketing Radiation Oncologist The study reflects that there are some basic tools for marketing are available to promote more elective care for the practicing surgeon. The first objective is to prescribe the patients particularly and to remain ethical about it and ensuring that a person who is prescribed moves to remote area without the proper medical attention. In consultation to the plastic surgery practicing surgeon it encourages all the staff to have a cosmetic surgery in any manner just to enable them self to communicate with the patients (Kongstvedt, 2012). While on the other hand there are some, other promotional tools to offer services to the patients. Key tools such as patients can be provided knowledge about the selected form of health care services. Some other tools like prioritizing the services in line with the offerings along with including the physicians and building a feedback systems. There are question that have raised about the healthcare marketing is the viability of the service. It is noted that clinic possessing high quality have the potential to perform better in the market place than the one that is recruiting. It is noted that few of the services have the positioning power, which creates a symbolic impact on the overall reputation of the quality and the services positioning of the organisation as a whole. Services such as heart surgery, neurosurgery and trauma services define the positioning power as these services covers the aspects of death and life Figure 2: Chart Illustrating Health Care Service Cases On the other hand, profitability of the healthcare services is an important constraint for the organisation. Profitability should be rated highly rated, as it is one where the health care service cannot subsidise. The referral map shows the most significant group of customers. It provides that internists and family practitioners consist of about 70% of the referrals. The referral map illustrates the most significant procedures, which is represented in the group when a comparison is drawn with the remaining 30% of internist and family practitioner who refer. There is also another way of providing healthcare service is by focussing on the growth of marketing. It is evident that there is also a rise of several disease like cancer, prostate bladder, lung cancer which are accountable for the treatment in hospital. This referral survey map highlights that six out of ten cases should be treated in hospital. On the other hand it is observed that there are numerous such services that involves the consumer to spend beyond the limit. An important illustrations has been sited is the dexa screening for osteoporosis. Figures obtained from research shows that the age group ranging from 45 to 65 are more likely to avail such services and they are also willing to pay out of the pocket. Figure 3: Healthcare Cases in Percentage In several other cases screening has been identified as process which generates revenues. It is therefore, suggested that the marketers must evaluate such line of service in order to determine the target area of promotion for health care services. Hence, market segmentation helps the organisation to identify the target set of specified services and marketing issues. It is noteworthy to denote that market segmentation in health care services is usually defined by the demographic characteristics and geographical locations. In addition to this if a patients elects non-covered care in health and services, it is the obligation of the health care clinics to satisfy the customers with their expenditure, which help in improvement of marketing in health care service (Kotler Clarke, 2012). Reference list: Blackwell, R. D., Johnston, W. J., McKay, M. E., McNeeley, B. (2015). Marketing Oriented Strategies for Physicians: The Coming Competition in Health Care Delivery. InProceedings of the 1982 Academy of Marketing Science (AMS) Annual Conference(pp. 544-544). Springer International Publishing. Kongstvedt, P. R. (2012).Essentials of managed health care. Jones Bartlett Publishers. Kotler, P., Clarke, R. N. (2012).Marketing for health care organizations. New Jersey: Prentice-Hall, 1987.. Rutten, L. J. F., Ebbert, J., Greene, S. M., Mazor, K., Nekhlyudov, L., Dearing, J. W. (2014). SOCIAL MARKETING TO SUPPORT ADOPTION, EVALUATION, AND CONTINUOUS IMPROVEMENT OF HEALTH INFORMATION TECHNOLOGIES IN CLINICAL CARE.International Journal of Medical and Biological Frontiers,20(2), 179.