Jessica Schultz Part C
.pdf
keyboard_arrow_up
School
University of Alberta *
*We aren’t endorsed by this school
Course
441
Subject
Business
Date
Jan 9, 2024
Type
Pages
2
Uploaded by jas333333597 on coursehero.com
AUSTA 217
Final Exam
Ethical Analysis
1.
Provide an APA reference to the article
.
Wach, F.-S., Karbach, J., Ruffing, S., Brünken, R., & Spinath, F. M. (2016). University students’
satisfaction with their academic studies: Personality and motivation matter.
Frontiers in
Psychology, 7
. https://doi.org/10.3389/fpsyg.2016.00055
https://www.frontiersin.org/articles/10.3389/fpsyg.2016.00055/full
2. Discuss ethical issues of this article including the areas where your selected article meets
the ethical requirements and the areas where you have any concerns.
Introduction
This article investigates the relationship between personality, motivation, and academic
satisfaction among university students. Although the researchers do not mention the ethical
aspects of their study, Canadian researchers must follow the TCPS principles of: respect for
persons, concern for welfare, justice. I will discuss how this article adheres to or violates these
principles.
Respect for Persons
This principle requires that researchers respect and appreciate their participants autonomy
through and free, informed, and ongoing consent (TCPS, 2022, p. 6). Participants were recruited
through convenience sampling, and participation was voluntary with all participants having
provided informed consent (Wach et al., 2016). This aligns with TCPS requirements.
Participation was obtained without coercion and said to be informed of the study elements.
However, there is no mention of whether the participants were given sufficient information
about the purpose, methods, risks, and benefits of the research, or whether they had the
opportunity to withdraw their consent at any time (TCPS, 2022, p. 32).
Concern for Welfare
Researchers should aim to protect the participants from any potential harm, such as
physical, psychological, social, or economic harm, and minimize any risks or burdens associated
with the research (TCPS, 2022, p. 8). Participants were required to complete a series of tests, the
kind of test was not specified. Therefore, I am unable to assess whether there was potential harm
associated with the testing. Compensation for participating in the experiment was in the form of
course credit or monetary payment. Although all data was said to be kept confidential, the lack
of information makes it difficult to decide if TCPS requirements were met.
AUSTA 217
Final Exam
Justice
Justice refers to the researcher's obligation to treat participants fairly and equitably, and
avoid any discrimination, exploitation, or coercion (TCPS, 2022, p. 9). The article states that the
participants were a convenience sample of 620 undergraduate students majoring in teacher
education (Wach et al., 2016). However, it does not mention whether the participants
represented a fair demographic of students, or why teaching students were the population of
interest.
Conclusion
In conclusion, the article by Wach et al. (2016) does not provide enough information to
assess the ethical issues of the research. It is possible that the authors followed the ethical
guidelines of their institution or country, as the research was approved by the ethics committee
of the German Psychological Society (GPS), but they did not report them in the article.
Therefore, there are some concerns about whether the article meets the ethical requirements of
GPS or TCPS.
20 marks
Length:
It will take at least 4-5 paragraphs to adequately address the issue.
Your grade is based on
specific reference to each of the areas of ethical review indicated above
specific use of the language of the TCPS, include
citations (with page numbers)
specific mention to decisions reported or not reported in your article (feel free to use
quotes as evidence, but mark them as quotes, and include appropriate citations)
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
TO: DUHA SAMI (EXEC DIR OF BUS OPERATIONS/MAINT), MUNA TAREK (LEAD TECHNICALSTAFF)FROM: EMILY JONES (SENIOR LEASING AGENT)SUBJECT: FEEDBACK ON PROPOSED MOBILE APPDATE: 11/17/22CC: NINA COOPER (CUSTOMER EXPERIENCE REP, FTS INC.)Duha and Muna,Thank you for taking up the request to add a mobile app, this is something that students are always askingabout when shopping for apartments. It is so good to know that the answer will be “yes we have one”, nolonger “we are planning to have one”.I do have a concern about the current design proposal as I understand it. It is not uncommon for us to havesubleases and we should have a way for those tenants to be able to use the app. I know we have thosesublease contracts stored in the system so hopefully it would not be too much work to have thefunctionality to link a request to a sublease contract not just the original lease.Cheers,EmilyTO: DUHA SAMI (EXEC DIR OF BUS OPERATIONS/MAINT)FROM: JOSH MASON (MAINTANCE LEAD)SUBJECT: PROBLEM WITH THE MOBILE…
arrow_forward
Q1: There is the possibility of conflicts between stockholders and management in a large corporation. We called these conflicts agency problems and discussed how they might be controlled and reduced.
arrow_forward
In 2022, Ellen and Ed, married filing jointly, had $10,000 mortgage interest, $2,000 real estate taxes, $2,000 state income tax, and medical expenses of $2,000. Assuming they had an adjusted gross income of $50,000, which of the following is TRUE?
Question 12Select one:
a.
They should take a standard deduction of $24,000.
b.
They should take a standard deduction of $12,000
c.
They should take an itemized deduction of $14,000.
d.
They should take an itemized deduction of $16,000.
arrow_forward
17-
Ms. Zainab had subscribed for a new internet package from Ooredoo, but she was not happy with the speed. Which one of the following options gives Ms. Zainab the best chance to express her unhappiness ?
a.
Team selling
b.
Personal selling
c.
Telemarketing
d.
Provocative selling
arrow_forward
ETHICAL DILEMMA 2: Bounty Hunters
His SUV carefully obscured behind a row of trees, Rick Raymond, private investigator, was on another case. This case was not to catch the unfaithful spouse or petty criminal in action. Instead, Raymond was tracking an employee, at the request of an employer, to determine whether an Orlando repairman was sick as he claimed today and as he had claimed to be several times recently.
As we have seen, absenteeism is a huge problem for organizations that has left them desperate for solutions. One solution is to investigate. In the typical routine, when an employee calls in sick, the employer asks for the reason. If the reason is illness, and illness has been the reason for an abnormal number of times in the past, the employer hires a P.I. to follow the employee and photograph or videotape his or her activity outside the house. Private investigators also are used to ascertain whether individuals filing injury claims (and drawing worker’s compensation…
arrow_forward
De Mar, a plumbing, heating, and air-conditioning companylocated in Fresno, California, has a simple but powerful product strategy: Solve the customer’s problem no matter what, solvethe problem when the customer needs it solved, and make sure thecustomer feels good when you leave . De Mar offers guaranteed,same-day service for customers requiring it. The company provides 24-hour-a-day, 7-day-a-week service at no extra charge forcustomers whose air conditioning dies on a hot summer Sundayor whose toilet overflows at 2:30 A.M. As assistant service coordinator Janie Walter puts it: “We will be there to fix your A/C onthe fourth of July, and it’s not a penny extra. When our competitors won’t get out of bed, we’ll be there!”De Mar guarantees the price of a job to the penny before thework begins. Whereas most competitors guarantee their work for30 days, De Mar guarantees all parts and labor for one year. Thecompany assesses no travel charge because “it’s not fair to chargecustomers for…
arrow_forward
What mean the following Occupational Safety and Health Act (OSHA) violations and the penalty for each violation?
1926.451—Scaffolding
1926.501—Fall Protection
1910.1200—Hazard Communication
arrow_forward
Question One
Discuss the risk management process according to Harrington and Niehans (2003)
Question Two
Avoidance is a risk control technique that can be used to effectively in a risk management program,
a)
What is the major advantage of using this technique as a risk control measure
0 I
Is it possible or practical for a firm to avoid all potential losses? Explain your
answer
Question Three
Discuss the major type of pure risk which is associated with great financial risk
Question Four
Certain requirement ideally should be fulfilled before a pure risk can be privately insured. Explain
the six requirement of an insurable risk
Question Five
Explain each of the following characteristics of a typical insurance plan.
b)
C)
Pooling of losses
Payment of fortuitous losses
Risk transfer
Indemnification
arrow_forward
Opinion to this statement “If we don’t know what Risk is? We can’t do Risk management”
arrow_forward
Address and briefly explain TEN (10) safety issues regarding explosion at AB Specialty Silicones, Illinois, US
arrow_forward
Part 3 LSP is under constant pressure to improve its products. In particular, reducing weight allows for better performance. LSP's design team has found a potential new supplier of the materials that make up the window frames that can significantly reduce the overall weight of the windows. The new plastic frame material is available from a supplier in Belgium. That supplier will only work under FCA terms. This will require LSP to take on new responsibilities that the existing frame supplier from Germany had performed. You have been asked to consider this potential change from a logistical perspective (both advantages and threats) and report back to the senior management team. Specifically, you have been asked to: 1. Provide a description of the potential insurance clauses that could be purchased and a recommendation on the coverage that LSP should purchase for the new Belgian plastic. 2. Provide a description of the role and function of an international freight forwarder and a…
arrow_forward
Q.13. Aseem is the Managing Director of Chanel Ltd. The company had established a good name for itself and had been doing well. It was known for timely completion of orders. The Production Manager, Ms. Zeel was efficiently handling the processing of orders and had a team of ten motivated employees working under her. Everything was going on well. Unfortunately, Zeel met with an accident. Aseem knew that in the absence of Zeel, the company may not be able to meet the deadlines. He also knew that not meeting the deadlines may lead to customer dissatisfaction with the risk of loss of business and goodwill. So, he had a meeting with his employees in which accurate and speedy processing of orders was planned. Everybody agreed to work as a team because the behaviour of Aseem was positive towards the employees of the organisation. Everyone put in extra time and efforts and the targets were met on time. Not only this, Aseem visited Zeel and advised her to take adequate rest. Identify and…
arrow_forward
QUESTION 12
A restaurant chain is hyper concerned about products in its supply chain that could be contaminated. The company's CEO has hired a team to manage supply chain risk. The purchasing unit is given the objective of minimizing costs. The supply chain managers and purchasing managers have potentially conficting objectives.
True False
QUESTION 13
If managers seek to implement an enterprise risk management system, they will become more effective managers because they will learn about the vulnerabilities of the company they are managing.
True False
QUESTION 14
A book publisher tries to publish 100 tities each year from 100 different authors. The books are evenly split befween fiction and non-fiction. This is an example of using diversification to manage business risk.
True False
arrow_forward
Question 1 Read the following extract and then answer the questions below.Part A Mr. Baeti has been engaged by Local Enterprise Authority (LEA) as a consultant. He is tasked to carry out a workshop for LEA beneficiaries and the objectives of the workshop is to teach or equip members with knowledge how the contract of Agency can be authorised in order for it to be in place. The reason for this is that LEA members are struggling to reach out to their customers and grow their business. Mr. Baeti wants to teach the members about the various sources of authority that may lead to the existence of an Agency. What are those available authorities that Mr. Baeti should teach these LEA members about? In doing so and where necessary, Mr. Baeti should give examples of relevant cases to support his answer. Explain in detail what Mr. Baeti should discuss with LEA members
Part B Assist Mr. Baeti to list 5 duties of an agent.
arrow_forward
Q6:write briefly but relevant answer
a) PERT and CPM
b) Risk Management and its types.
arrow_forward
QUESTION 1Takyiwaa, Salamatu and Adade are Undergraduate Students from the University of Professional Studies who studied Management of Small and Medium Enterprise. After their National Service they decided to start a Restaurant Business. The overarching purpose for opening a Restaurant, was to be the second to none producers of Quality service in the Restaurant Business in Accra and respect for the customer. Starting a business of like nature is time consuming and full of uncertainty in view of the risk involved. Takyiwaa, Salamatu and Adade have been in the same class since Level 100 and they have the belief that, the future of the business they are about to start, its success and failure is within their control and that external influence has a very little control.They had a meeting and agreed that it is important to systematically gather information and analyze these information concerning other Restaurants Business trends and activities within Accra, in order to further their…
arrow_forward
Question : Read the below scenario carefully and answer the questions?
YOU BE THE CONSULTANT
Ed Sabol, a once unhappy coat salesman, had a passion for filming his son’s high school football games and other activities. Word of Ed’s filming abilities soon got around and he found himself working a number of local high school games. This led to Ed’s successful bid ($3,000) to film the 1962 NFL championship game. Then Commissioner Pete Rozelle was so impressed with the work that he agreed to Ed’s proposal to create a new entity known as NFL Films that would both preserve the history of the game and promote it to the nation’s sports fans. NFL Films’ creative approach to the game has resulted in 82 Emmy Awards to date
Ed retired in 1987, turning the reins over to his son Steve who has taken the company to new heights thanks in part to his empowering leadership style and product innovation. The company now has a 200,000 square foot state-of-the-art facility. . Identify the entrepreneurial…
arrow_forward
ONLY ANSWER PART B PLEASE
Question 2
Rampersad Enterprises, a machine shop, has outgrown their current capacity and as such,
they are planning to move to a larger location. The new space will be 60 feet by 40 feet
wide. For this new location, the owner would like to have six distinct production areas, all
roughly the same size. Mr. Rampersad is keen on ensuring safety protocols are adhered to
and intends on having marked pathways throughout the building to facilitate the
movement of people and materials.
His foreman has completed a month-long study of the number of loads of materials that
have moved from one process to another in the current building. The information is
contained in the following flow matrix.
From\To
Materials
Welding
Drills
Lathes
Grinders
Benders
Materials
0
100
50
0
0
50
Welding
25
0
0
50
0
0
Drills
25
0
0
0
50
0
Lathes
0
25
0
0
20
0
Grinders
50
0
100
0
0
0
Benders…
arrow_forward
Incidents for Discussion
Ringold’s Pool and Patio SupplyJohn Ringold, Jr., just graduated from a local university with a degree in industrial managementand joined his father’s company as executive vice president of operations. Dad wants to breakJohn in slowly and has decided to see how he can do on a project that John Sr. has never hadtime to investigate. Twenty percent of the company’s sales are derived from the sale of aboveground swimming pool kits. Ringold’s does not install the pools. John Sr. has asked John Jr. todetermine whether or not they should get into that business. John Jr. has decided that theeasiest way to impress Dad and get the project done is personally to estimate the cost to thecompany of setting up a pool and then call some competitors and see how much they charge.That will show whether or not it is profitable.John Jr. remembered a method called the work breakdown structure (WBS) that he thoughtmight serve as a useful tool to estimate costs. Also, the use of such…
arrow_forward
Incidents for Discussion
Ringold’s Pool and Patio SupplyJohn Ringold, Jr., just graduated from a local university with a degree in industrial managementand joined his father’s company as executive vice president of operations. Dad wants to breakJohn in slowly and has decided to see how he can do on a project that John Sr. has never hadtime to investigate. Twenty percent of the company’s sales are derived from the sale of aboveground swimming pool kits. Ringold’s does not install the pools. John Sr. has asked John Jr. todetermine whether or not they should get into that business. John Jr. has decided that theeasiest way to impress Dad and get the project done is personally to estimate the cost to thecompany of setting up a pool and then call some competitors and see how much they charge.That will show whether or not it is profitable.John Jr. remembered a method called the work breakdown structure (WBS) that he thoughtmight serve as a useful tool to estimate costs. Also, the use of such…
arrow_forward
You have been tasked to establish and implement an effective hearing conservation program for a manufacturing industry. Noise monitoring shows that the employees working in the production area has been exposed to 8-hour TWA noise exposures between 85.0 dBA and 90.0 dBA. REQUIREMENT/ASSIGNMENT QUESTION Based on the latest DOSH requirements, discuss the requirements for an effective hearing conservation program and steps to make the program as effective as possible. a) Your report should include the following: i.Executive summary ii.The objective and importance of conducting noise monitoring iii.Process description (Flow chart, diagram etc.) iv.Methods and measurements v.Results and discussion vi.Conclusions and recommendations to reduce the noise exposure in the company b) Each aspects must be discussed and supported with evidences (pictures, documents, flow charts, etc) from the selected company. c) Relevant regislations related to each aspect must be properly quoted and discussed. (…
arrow_forward
Memo
To: Ervin Holder
From: Grace Lathrop (Customer relations)
Date: 9/14/23
RE: Warranty coverage
Hello Mr. Holder, my name is Grace in customer relations. I have a customer who is upset because their air conditioner broke. Looking into the database, I discovered a problem with the updating of the software. Customers that have a warranty are not showing in the database as being active.
I have chosen to cover the warranty because of your policy to honor any warranty bought with the previous owners. I have contacted the customer to inform them that their problem will be taken care of. I have also contacted IT services to correct the issue so that the system updated each account monthly. This will ensure that all accounts that are active stay active and that this issue will not happen again.
I am contacting you to inform you of the process that is being taken to ensure this issue gets resolved and make customers feel like family. I look forward to…
arrow_forward
PART 4 Questions 21-27
TEST 5
IMG_2
Read the text about Madame Tussauds, the famous wax museum in London. Are sentences 21-27 'Right' (A) 'Wrong' (B)? If there is not enough information to answer 'Right' (A) or "Wrong' (B), choose "Doesn't (C). For questions 21-27, mark A, B or C.
MADAME TUSSAUDS
Madame Tussauds is a famous wax museum in London with branches in a number of major cities. It has a lot of famous people made from wax. Wax is a solid substance that becomes soft when warm and molts casily. It comes from bees and is often used to make candles. Many people visit wax museums because the sculptures look like they are real.
A visit to Madame Tussauds wouldn't be complete without meeting the Royal Family. Dating back over ten centuries, the Monarchy has played an important role in the UK. but rather than reading all about it in a dusty history book you'll meet history's royalties face to face at Madame Tussauds! You can plant a kiss on Prince William's check, or shake Prince…
arrow_forward
Question 1
Q.1.1 Explain the meaning of the term "risk consumerism".
Q.1.2 Sipho has just started his classes on the risk management module. He was advising his friends that fundamental risks are those risks that have the possibility of either a profit or a loss.
Do you agree? Explain your choice.
Q.1.3 Pure risk and speculative risk are two different risk types.
Do you agree? Support your answer.
Q.1.4 There are two approaches to the implementation of ERM, namely the measurement driven approach and the process-control approach.
What is the focus of the measurement driven approach in implementing ERM?
Q.1.5 Write a small paragraph on the concept of maximum foreseeable loss (MFL) and its significance in risk management.
Question 2
Q.2.1 Distinguish between the.'Maximin', 'Maximax·• and the 'Minimax regret' decision strategy.
Q.2.2 Determining the size or quantum of a possible loss provides a backdrop against which efforts to manage the risk can be measured .
: Highlight the measures…
arrow_forward
When the client's image team sends the first round of selections to Marlena's team for review, Tim (an editor on the team) notices that several of the images are iconic images that he has seen in other publications. He researches these images to check copyright information and finds that four of the five images cannot be used in the book without paying significant costs that are out of budget. Marlena tells the client's image team that the images have been rejected for copyright issues and must be replaced with new selections. The second round of images sent for review is also found to be problematic. Again, Marlena informs the client's team that several images must be changed.
At this point, Marlena's team has spent a lot of time reviewing and researching copyrights for images, and she fears that many more rounds may cause the team to expend all of their budgeted hours before this phase of the project has been complete. She recognizes that although the client's team is slated to…
arrow_forward
building project failures Exactracted from (News 24,2021)
with reference to case study provided the 1.1criically discuss the primary reason contributing to failure of building
1.2 in reference to the reasons provided in question 1.1 above, discuss the impact of project failures and suggest solution that can be considered by project managers to mitigate against future project failures
1.3 with reference to construction project,critically discuss the contents of a project quality plan. your response should refer to reference to revent examples
arrow_forward
Q)6. Which of the following is NOT a correct description of the PESTLE model?
Group of answer choices
“E” in the PESTLE model stands for “Economic”. The factors to consider is the positive or negative impact of the big five forces.
“P” in the PESTLE model stands for “Political”. The factors to consider is the positive or negative impact of a given event such as the outcome of an election.
“E” in the PESTLE model stands for “Environmental”. The factors to consider is the positive or negative impact of natural environment related concerns.
“L” in the PESTLE model stands for “Legal”. The factors to consider is the positive or negative impact of a given change in legislation.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Related Questions
- TO: DUHA SAMI (EXEC DIR OF BUS OPERATIONS/MAINT), MUNA TAREK (LEAD TECHNICALSTAFF)FROM: EMILY JONES (SENIOR LEASING AGENT)SUBJECT: FEEDBACK ON PROPOSED MOBILE APPDATE: 11/17/22CC: NINA COOPER (CUSTOMER EXPERIENCE REP, FTS INC.)Duha and Muna,Thank you for taking up the request to add a mobile app, this is something that students are always askingabout when shopping for apartments. It is so good to know that the answer will be “yes we have one”, nolonger “we are planning to have one”.I do have a concern about the current design proposal as I understand it. It is not uncommon for us to havesubleases and we should have a way for those tenants to be able to use the app. I know we have thosesublease contracts stored in the system so hopefully it would not be too much work to have thefunctionality to link a request to a sublease contract not just the original lease.Cheers,EmilyTO: DUHA SAMI (EXEC DIR OF BUS OPERATIONS/MAINT)FROM: JOSH MASON (MAINTANCE LEAD)SUBJECT: PROBLEM WITH THE MOBILE…arrow_forwardQ1: There is the possibility of conflicts between stockholders and management in a large corporation. We called these conflicts agency problems and discussed how they might be controlled and reduced.arrow_forwardIn 2022, Ellen and Ed, married filing jointly, had $10,000 mortgage interest, $2,000 real estate taxes, $2,000 state income tax, and medical expenses of $2,000. Assuming they had an adjusted gross income of $50,000, which of the following is TRUE? Question 12Select one: a. They should take a standard deduction of $24,000. b. They should take a standard deduction of $12,000 c. They should take an itemized deduction of $14,000. d. They should take an itemized deduction of $16,000.arrow_forward
- 17- Ms. Zainab had subscribed for a new internet package from Ooredoo, but she was not happy with the speed. Which one of the following options gives Ms. Zainab the best chance to express her unhappiness ? a. Team selling b. Personal selling c. Telemarketing d. Provocative sellingarrow_forwardETHICAL DILEMMA 2: Bounty Hunters His SUV carefully obscured behind a row of trees, Rick Raymond, private investigator, was on another case. This case was not to catch the unfaithful spouse or petty criminal in action. Instead, Raymond was tracking an employee, at the request of an employer, to determine whether an Orlando repairman was sick as he claimed today and as he had claimed to be several times recently. As we have seen, absenteeism is a huge problem for organizations that has left them desperate for solutions. One solution is to investigate. In the typical routine, when an employee calls in sick, the employer asks for the reason. If the reason is illness, and illness has been the reason for an abnormal number of times in the past, the employer hires a P.I. to follow the employee and photograph or videotape his or her activity outside the house. Private investigators also are used to ascertain whether individuals filing injury claims (and drawing worker’s compensation…arrow_forwardDe Mar, a plumbing, heating, and air-conditioning companylocated in Fresno, California, has a simple but powerful product strategy: Solve the customer’s problem no matter what, solvethe problem when the customer needs it solved, and make sure thecustomer feels good when you leave . De Mar offers guaranteed,same-day service for customers requiring it. The company provides 24-hour-a-day, 7-day-a-week service at no extra charge forcustomers whose air conditioning dies on a hot summer Sundayor whose toilet overflows at 2:30 A.M. As assistant service coordinator Janie Walter puts it: “We will be there to fix your A/C onthe fourth of July, and it’s not a penny extra. When our competitors won’t get out of bed, we’ll be there!”De Mar guarantees the price of a job to the penny before thework begins. Whereas most competitors guarantee their work for30 days, De Mar guarantees all parts and labor for one year. Thecompany assesses no travel charge because “it’s not fair to chargecustomers for…arrow_forward
- What mean the following Occupational Safety and Health Act (OSHA) violations and the penalty for each violation? 1926.451—Scaffolding 1926.501—Fall Protection 1910.1200—Hazard Communicationarrow_forwardQuestion One Discuss the risk management process according to Harrington and Niehans (2003) Question Two Avoidance is a risk control technique that can be used to effectively in a risk management program, a) What is the major advantage of using this technique as a risk control measure 0 I Is it possible or practical for a firm to avoid all potential losses? Explain your answer Question Three Discuss the major type of pure risk which is associated with great financial risk Question Four Certain requirement ideally should be fulfilled before a pure risk can be privately insured. Explain the six requirement of an insurable risk Question Five Explain each of the following characteristics of a typical insurance plan. b) C) Pooling of losses Payment of fortuitous losses Risk transfer Indemnificationarrow_forwardOpinion to this statement “If we don’t know what Risk is? We can’t do Risk management”arrow_forward
- Address and briefly explain TEN (10) safety issues regarding explosion at AB Specialty Silicones, Illinois, USarrow_forwardPart 3 LSP is under constant pressure to improve its products. In particular, reducing weight allows for better performance. LSP's design team has found a potential new supplier of the materials that make up the window frames that can significantly reduce the overall weight of the windows. The new plastic frame material is available from a supplier in Belgium. That supplier will only work under FCA terms. This will require LSP to take on new responsibilities that the existing frame supplier from Germany had performed. You have been asked to consider this potential change from a logistical perspective (both advantages and threats) and report back to the senior management team. Specifically, you have been asked to: 1. Provide a description of the potential insurance clauses that could be purchased and a recommendation on the coverage that LSP should purchase for the new Belgian plastic. 2. Provide a description of the role and function of an international freight forwarder and a…arrow_forwardQ.13. Aseem is the Managing Director of Chanel Ltd. The company had established a good name for itself and had been doing well. It was known for timely completion of orders. The Production Manager, Ms. Zeel was efficiently handling the processing of orders and had a team of ten motivated employees working under her. Everything was going on well. Unfortunately, Zeel met with an accident. Aseem knew that in the absence of Zeel, the company may not be able to meet the deadlines. He also knew that not meeting the deadlines may lead to customer dissatisfaction with the risk of loss of business and goodwill. So, he had a meeting with his employees in which accurate and speedy processing of orders was planned. Everybody agreed to work as a team because the behaviour of Aseem was positive towards the employees of the organisation. Everyone put in extra time and efforts and the targets were met on time. Not only this, Aseem visited Zeel and advised her to take adequate rest. Identify and…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education