Ten Critical Steps for Risk Managers Essay Example | Topics and Well Written Essays - 750 words - 2

Ten Critical Steps for Risk Managers - Essay Example Argentina is one of the Latin American countries which have a high political risks associated with international business. These risks affect the way international business is done between Argentina and the rest of the world.According to World Bank (2001), managing political risk and other forms of risks associated with international business is something that can be very difficult for businesses. However, experts such as Thomas Cook (2012) have provided useful information regarding the ways in which international businesses can address these issues. For a country such as Argentina, the main issue for international business people to understand is the fact that this country is not stable politically. Countries which have not matured democratically such as Argentina have more and higher political risk and it is necessary for businesses to be able to address these risks in a more serious way. The following ten steps as developed by Cook can be used to manage political risk in Argentina . The first issue to for a manager to consider is selecting a risk insurance firm which is suited to the insurance needs of the business. According to Cook (2012), it is absolutely necessary for a manager to know that the underwriters who they choose are conversant in political risks in the country. In this regard, choosing an insurance broker in Argentina will concentrate on looking for an insurance broker who critically understands the political risks in the country not only in theory but also in practice.... In buying insurance, it is always necessary to understand the nature and extent of the risk involved (Cook, 2012). In this regard, it will be increasingly necessary to understand the political risks involved in Argentina and then look for an insurance provider who will guarantee these risks. It will be necessary to look for an insurance provider who clearly understands these risks and who is able to look at the way in which the business can be shielded from this kind of risk. Thirdly, the manager should consider combining risk and covering them with one insurance policy. There are a number of risks associated with doing international business in Argentina and this will require combining risks when buying an insurance policy. In this regard, it will be necessary to understand the various risks which can be combined in order to make sure that the business is well protected. For instance, apart from political risks, there are other non-political risks which must be looked at in this reg ard, instead of having a different policy for each risk; it could be useful to have one umbrella policy which will protect the business from all the risks. Fourth, constant communication about the contract after it has been put in place is also very important. This is because Argentina’s political environment is very volatile and therefore the nature and extent of political risks in Argentina keep changing over time. Fifthly, constant review and update of the insurance contract is necessary because political risks can change with regard to which regime is in power and also depending on seasons such as the electioneering season. With a country which does not have a concrete public policy, the nature of the governance is purely

Welfare Reform in the US Essay Example | Topics and Well Written Essays - 750 words

Welfare Reform in the US - Essay Example Drug testing for welfare recipients would save money and effectively limit the number of drug abusers collecting money. Each year in the United States, approximately four hundred billion dollars is given to citizens in the form of welfare. The recipients are out of work or do not make enough money to live a healthy, albeit basic, lifestyle. The cash assistance given is used towards housing, bills and utilities, food, and clothing, and the primary focus is ensuring that any children involved are being taken care of. Though many recipients use their money to make sure their families have food in their stomachs and a roof over their heads, roughly twenty percent of recipients use their government aid to fuel their illegal drug use. They may be in the same financial distress as others on welfare, but instead of using their government aid to improve the quality of their lives, they use it to make it increasingly worse. It has been proposed that people who apply for welfare should be drug tested before being allowed to receive cash assistance from the government. By drug testing recipients, the government can weed out the people who have the potential to abuse the system by using their money on illegal substances. ...It almost becomes a case of who is more deserving of government aid. However, a need for it has arisen. Drug testing potential welfare recipients can be monetarily beneficial for the government. If they stop supplying drug addicts with money, that money can be put to other state or national uses. The extra money can also be put towards other families that need financial assistance and will spend the money on necessities. Another possible outcome that could come as a result of drug testing recipients is that by cutting drug abusers from a primary source of money, then the drug users will have less opportunity to obtain drugs. In the end, more money will exist for the people who sincerely need it to improve their lives, and increasingly less money will be available for the drug abusers to feed their addiction.