How Polluted Is The Brisbane River Environmental Sciences Essay

How Polluted Is The Brisbane River Environmental Sciences Essay This paper described the water pollution in Brisbane River and its effect in the environment and human health. It constructed an index that focuses on the effects and vulnerability to the environment. Councils and industries affect the Brisbane River by polluting and not following proper precautions. This paper examines the contaminants present and how primarily reduces its number. There is a wide range of industrial pollutants in Brisbane River discussed in this paper. It affects the Entire River and bodies of water around the location. These pollutants are generally addressed in various ways. Benefits of effective environmental management include improved water working conditions and reduced pollution incidents significantly due to industrial and structural processes. Some environmental advocates of water ecotourism choose to think of it as a true return to nature by minimizing realty development in natural areas and preserving their intrinsic beauty. The balance of costs and benef its is difficult to assess due to the insufficient data. Introduction The government initiated measures to control Brisbane water pollution by regulating its source that prevent the pollutants from being released into the atmosphere. Emission control systems set by the government are seen as the solution rather than considering ways to eliminate or minimize pollutant. By virtue of government mandate, the Environmental Protection Agency has been charged with the responsibility for developing programs on Hazardous waste regulation as well as a regulatory body for Brisbane River (Miller, 2008). The Environmental Protecting agency may make rules subject to the negative designation of hazardous substances and the performance standard, safeguard, procedures and licensing requirement with accordance with which such hazardous substances shall be handled. The management investigate the environment generally and such premises necessary to ascertain the nature of pollutants. It also develops and implements programs for the management of such wastes which include registration and further characterization of significant sources being disposed to the environment There is a wide range of industrial pollutants in Brisbane River that started when European settlement establish around the area causing pollution and increase waste products (Gleick Palaniappan, 2008). These include combustion and sewage products from power generation, transport and incineration. The common contaminants generated by these processes include, nitrous oxides, phosphoric substances, particulates, carbon oxides and nitrogen oxides. Effects of the development in the area such as industrial pollutants are directly affecting river as well as health of the population. There are also significant amount of sulfuric or nitric acid detected in aquatic reservoir that can destruct vegetation, drinking water, erode buildings and damage aquatic life in the River. The community utilizes Modification of the Transmission to disperse pollutants and most of the other waste products generated are re-shipped to manufacturers for recycling (Agar, 2001). An Analysis of Past and Current Pollution Levels SURVEY_DATE Nitrogen (total) as N (mg/L) Phosphorus (total) as P (mg/L) 4/10/2006 0.54 0.24 15/11/2006 0.52 0.23 15/12/2006 0.51 0.2 16/01/2007 0.46 0.2 14/02/2007 0.48 0.2 16/03/2007 0.47 0.19 17/04/2007 0.43 0.2 15/05/2007 0.51 0.25 14/06/2007 0.66 0.28 12/07/2007 0.56 0.25 10/08/2007 0.41 0.25 10/09/2007 0.5 0.24 9/10/2007 0.49 0.23 7/11/2007 0.55 0.25 5/12/2007 0.48 0.25 8/01/2008 0.7 0.31 5/02/2008 0.57 0.19 5/03/2008 0.35 0.098 4/04/2008 0.37 0.14 15/05/2008 0.44 0.17 17/06/2008 0.57 0.16 16/07/2008 0.57 0.17 15/08/2008 0.45 0.14 11/09/2008 0.38 0.13 13/10/2008 0.43 0.15 12/11/2008 0.46 0.15 10/12/2008 0.71 0.14 8/01/2009 0.58 0.1 9/02/2009 0.42 0.11 10/03/2009 0.59 0.17 8/04/2009 0.68 0.18 7/05/2009 0.48 0.13 5/06/2009 0.55 0.1 6/07/2009 0.71 0.095 5/08/2009 0.42 0.084 3/09/2009 0.5 0.12 5/10/2009 0.46 0.12 4/11/2009 0.3 0.088 3/12/2009 1.9 0.16 13/01/2010 0.51 0.11    These data can be used as a proxy for water pollution in general, which impacts on many aspects of the riverà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s ecosystem and public health including such things as quality of water and biodiversity. But there is no continuous data monitoring for Nitrogen and Phosphorus and other hazardous chemical in Brisbane River (Miller, 2008). Therefore estimation for this pollutant indicator could not be determined. The data indices was developed in the past which describe the risks associated with sustainability, climate change, economic and social conditions, climate change, natural disasters, anthropogenic impacts in the river. Most of these figures describe the vulnerability of human systems with only limited attempts having been made to describe effects of air pollution on the environment (Donald, 2002). Nature There is a wide range of industrial pollutants in Brisbane River. These pollutants are generally addressed in various ways. These include oil products from manufacturers, industries, transport and incineration. The common contaminants generated by these processes include phosphorus and nitrogen. There are also non-combustion sources. Examples of these are industrial processes, transportation, agriculture and construction that produce water pollutants and particulates (Gleick Palaniappan, 2008). These are release directly from the source into the water in a harmful form. A typical pollutant would be nitrogenous compound. Moreover, particulates are also present and serve as atmospheric pollutants that consist of the vapor phase of such compounds. Its chemical composition is depending upon source chemicals. The pollution level in the past years in Brisbane River is continually increasing partly because of industrialization and technology (Ostopowich, 2006). There is also inorganic water pollutants consist of many types of substances present in the river. Many of these liquid and solid substances may become particulate air contaminants. These inorganic water pollutants consist of sulfur, oxides of carbon, and nitrogen. Nitrogen and phosphorus are considered as a directly fatal and toxic material (Miller, 2008). Carbon dioxide in the water may turn out to be the most significant water pollutant of all because of its potential health hazard that might cause devastating water destruction. Oxides of nitrogen and sulfur are acid forming gases that can facilitate acid formation. These pollutants enter the water system as the result of industrial activities. The trends are continually fluctuating without normal ranges (Agar, 2001). Effects Water pollution from mechanical and industrial sources is the most widespread form of pollution in Brisbane River. It affects the Entire River and bodies of water around the location. Continuous Water protection monitoring is presently conducted in the river. Over the period 2000-2010 there has been a steady increase in the number of industries around the river (Gleick Palaniappan, 2008).The number of industrial processes in the area has remained more or less steady during this same period. There are pollution standard concentrations over a period of time that is considered to be acceptable on health and on the environment (Donald, 2002). They can also be used as a bench mark to see if water pollution is getting worse. Moreover, water pollution has a wide range of effects on human health resided along the river, ecosystems, structures and other human communities. Adverse effect and discomfort on human health and environment result to functional and physical damages. Australian Healt h Ministry reported incidence of respiratory diseases related to chemical pollutants around the area. They detected significant amount of phosphoric or nitrogenous chemicals in aquatic reservoir which can be attributed to acid rains. It can contaminate drinking water, vegetations and erode river wall buildings and damage aquatic life. Some environmental advocates of water ecotourism choose to think of it as a true return to nature by minimizing realty development in natural areas and preserving their intrinsic beauty. For example, instead of using up large tracts of land for building hotel complexes, these advocates prefer the construction of small, more ecologically friendly lodges that can take in a limited number of people only. The idea behind this thinking is to lessen the negative impact that tourist activities make on the environment, keeping consumption well within the carrying capacity of the area. (Miller, 2008). Others, however, see ecological benefits is being compromise because it accounts for benefits and uses that the host communities can get from the tourist activities in their area as well as the profits that travel agencies can also realize. They believe that conscientious consumption of the environmental resources and economic progress can be enjoyed simultaneously. The main thrust of this paper is therefore to determine if ecotourism he trending situations and is actually possible to reduce the pollutants, given the conflicting interests at play in these kinds of activities (Ostopowich, 2006). Control The number of collected data on control measures in Brisbane River is aggressively planned by our office (Environmental Protection Agency) with collaboration of various private and public sectors. It is difficult to determine accurately the percentage of effectively managed or controlled pollutants per year but the effort is continuous. Water pollutants resulted from industrial processes in the river is treated by different water treatment process (Gleick Palaniappan, 2008). It disperses pollutants to reduce the concentration at the susceptible target location to an acceptable level. The pollutant was transported with a considerable distance and transform to clean water. In this process, the water pollutants are brought to a designated area and are compacted. Most of the other waste products generated are re-shipped to manufacturers for recycling. In Trinidad only waste oil is recycled, therefore, given that 897.8 cubic meters of oil is generated per year, with 35.8 cubic meters bei ng recycled, the mean percent of hazardous waste recycled locally is about 4 per cent (Donald, 2002). Environmental Protection on water is also stressed out by the government. They prohibit the deposition or release of rubbish, scrap metal, motor vehicle parts, motor vehicle bodies, building waste, solid or liquid waste from an on-site domestic waste water treatment system, degreasing agent, paint, varnish or paint thinner or any manufactured product, or any by-product or waste from a manufacturing processes, that has a pH less than 6 or greater than nine (Agar, 2001). Recommendations The Environmental Protection agency gathers the most relevant information to come up with recommendations on how to decrease water pollution in Brisbane River. To help protect human health and ecosystem around Brisbane River, these recommendations suit to control and minimize water pollution Water quality indexes must be used to serve as warning for susceptible people of a possible air pollution health risk. The modified Environmental Vulnerability Index must aid to summarize a wide range of environmental vulnerability for Brisbane River. A significant number of data collections are requirement to extract important information from various government or private agencies and international environmental organizations the country Administrative controls and legislative protocol can be utilized to minimize or prevent the generation of pollutants by the adoption of appropriate industrial practices and rules for specific processes including maintenance, waste disposal procedures and management controls. Engineering measures and controls can be used by Industries to minimize or prevent the release of pollutants. This approach includes polluting material elimination and substitution to prevent harmful emission into the atmosphere. Modification of the process to eliminate or reduce emissions is also part of engineering control. Emission control systems are also effective method to discharge gas streams adequately Government must continually provide support for strengthening the environmental management capacity of participating agencies to provide advice and access to data in support of its activities relating to complaints, environmental emergencies, monitoring compliance, enforcement and assessment of the state of environment. Properly dissemination of information and co-coordinate activities to promote and enhance environmental awareness of the public. A Predictive Model of Future Pollution The establishment of the predictive mode for water pollution is basically outlined from environment law and the plan provided a new set of perspective and basic ideas for the future environmental policies and trend regarding water pollution. This model established a framework with a long-term course. The model is a prediction on how the Brisbane River will progress and how the present effort affects the future. Previously, pollution problems were regional and the resulting damage was easy to see. It was therefore relatively easy to appreciate the causes and effect (Gleick Palaniappan, 2008). By contrasting the present situation to the past, many of todays water and environmental problems are caused by the activities of human being and many different elements that go to build up current complex and huge economic society. In order to solve these environmental problem, collaboration and partnership is a very important component. Collaboration in this case involves various private and l ocal elements in society working together in sharing and cooperating responsibilities. It also contains understanding the relationship between the activities of human and the natural environment, and also the connection that between socio-economic activities and the ecosystem. (Miller, 2008) People around Brisbane River have always been dependent on the environment as well as many people around the world. It is significantly essential for us to take into consideration, and realize, the relationship that between people and his environment, and to open a way for a sustainable future with the active cooperation and involvement of all people (Ostopowich, 2006). Conclusions Human systems and the environment are dependent on one another so that risks to the environment will eventually translate into harm and risks for humans and their welfare. Air pollutants from industrial facilities and industrial processes in Brisbane River include: oil refineries, power plants, chemical plants and steel mills. The amount of emissions are variously controlled, licensed and permitted emissions by the government, Waste production indicator is based on the amount of wastes produced by industrial processes and pollutants being generated or brought into the river.

Irc, Cva and Var †New Methods in Basel Essay

I. Introduction Last financial crisis was seen as a strong slap on the global economy. It has awakened Basel Committee on Banking Supervision (BCBS) about the importance of an aggregation between market and credit risks that banks have to cope with. In accordance with Saunders and Cornett (2011), definition of market risk is â€Å"the risk related to the uncertainty of an FI’s (financial institution) earnings on its trading portfolio caused by changes, and particularly extreme changes, in market conditions†. Interest rate risk and foreign exchange risk are some typical example for market risks (Saunders and Cornett, 2011). Meanwhile, credit risk is defined as risk increased when borrowers, bond issuers and counterparties in derivatives transaction may default (Hull, 2010). According to Madigan (2010), it would be greater risks when credit and market risks associated than the sum of individual factors. Therefore, it might lead to worse impacts to banks’ operations. From the crisis’s consequences, Nout Wellink – chairman of the Basel Committee believes that it is necessary for supervisors to learn experiences from recent events, thus set up new methods for banks to cope with fore problems (Ferry, 2008). These new rules which are reflected in Basel III support each other to efficiently measure and manage correlated risks, thus calculate capital requirement to cover these risks. A report by Goeth (2010) defines Basel III as an extensive set of measures reformed in order to enhance the regulation, supervision and risk management in terms of banking. This report mentions new methods with their strengths, weaknesses and effectiveness to help banks control and measure risks effectively, especially combination of credit and market risks. They are incremental risk charge (IRC), credit valuation adjustment (CVA) and stresses value at risk (VAR) model. II. Incremental Risk Charge – IRC 1. Strengths of Incremental Risk Charge Model In order to avoid crisis, banks must satisfy capital requirement demanded by Basel Committee to cover individual as well as correlated risks. IRC is a method which helps banks to estimate minimum capital needed to cover risks from unsecuritised credit instruments caused by default and migration events (BCBS, 2009b). It means IRC model calculates the maximum risks in the worst case when banks cannot securitise any products. As a result, banks have to set up the suitable capital for their own business and make sure that they can overcome difficulties even in the worst situation. In other words, banks will be safe from default and migration events, and more importantly, they can avoid crisis by using IRC model. In Basel III, with IRC model, risks can be measured for a one-year capital horizon at 99.9% confidence level, instead of a 10-day VAR at the 99% confidence level as in Basel II (Davidson, 2009). The extension of capital horizon is one of IRC’s strengths because it can evaluate and calculate  banks’ risks more effectively and accurately than 10-day VAR. The reason is one-day or 10-day VAR cannot comprise completely large cumulative price variation occurring several weeks or months as well as large daily losses which only happen two or three times per year (BCBS, 2009b). As a result, one-year horizon is the optimal time for banks to rebalance their capital. 2. Weaknesses of Incremental Risk Charge Model Under BCBS’s approval, banks are expected to improve their own IRC models to calculate risks for individual positions or sets of positions (BCBS, 2009b). It means the Committee hopes banks will have their own choice of liquidity horizon which is appropriate with their business without any issued industry benchmarks or standards (Stretton, 2011). However, it leads to inconsistence within banking system. Furthermore, supervisors have to face with more difficulties in process of evaluating banks’ IRC model. Although IRC helps bank to capture risks more effectively, especially when market and credit risks collide, there is a significant weakness still be existing. It is the overlap of counterparty credit risk cooperated with over the counters (OTC) and repo-style transactions between IRC and CVA (Stretton, 2011). As a consequence, it will lead to duplicate capital charge for the banks. Suggested by Linsz (2010) – the corporate Treasurer of Bank of America, the Committee should apply an integrated approach to combine the overlapping risks by deleting the risk above in IRC model, hence build up more accurate capital charge for banks. In fact, Bank of America thinks duplicated capital charge is inappropriate with risk management practices (Linsz, 2010). 3. Effectiveness of Incremental Risk Charge Model According to BCBS (2009b), IRC model mainly compounds two types of risks: default risk and credit migration risk. The origin of default risks can be obligors’ default and/or default events. As a result, it may lead to direct losses and/or indirect losses respectively. Meanwhile, credit migration risks may come from internal or external rating downgrade or upgrade as well as credit migration events (BCBS, 2009b). A study by Kealhofer et al. (1998) and Kealhofer (2003) (cited in Varotto,  2011), there are two main methods applied to rate company’s performance which are Through The Cycle (TTC) rating and Point In Time (PIT) rating. Both two rating methods are used to evaluate repay ability of a business, thus bank sets up its own capital to cover risks in case of the business’s default. Nevertheless, there are several differences between TTC and PIT ratings are as follows. While TTC rating tries to achieve stable rating which is not influenced by economic variation over mid-term or long-term, PIT rating reflects changes of the market as well as credit migration through the credit rating in a short-term. A study by Benford and Nier (2007) found that banks prefer to use PIT rating because it can update market variations and reflect them through enterprise’s credit rating downgrade or upgrade more effectively. In other words, IRC model which is used to estimate capital requi rement for banks based on their risks is influenced by both credit and market risks. III. Credit Valuation Adjustment (CVA) 1. Strengths of Credit Valuation Adjustment A capital charge for credit valuation adjustment (CVA) is a procedure used to calculate capital requirement for mark to market losses associated with counterparties’ decreased creditworthiness (BCBS, 2011b). Compare with the traditional method, CVA is more dynamic because it allows a bank or a financial institution to have trading opportunities with large exposures that excel limits set up to oppose future risks – the thing that the traditional method does not permit (Algorithmics, 2009). In fact, based on high risk, high return theory, banks have chance to increase their profit by the trading opportunities as above. Therefore, applying CVA approach instead of the traditional one may help banks achieve much profit. 2. Weaknesses of Credit Valuation Adjustment When banks apply CVA approach, they have to face with a difficulty which is seen as weakness of CVA. It is banks cannot identify and evaluate counterparty’s credit rating accurately (Cameron, 2011). One of the reasons of this disadvantage is derivatives which are originally purchased between bank and counterparty can be transferred to the third party, then fourth party and so on†¦ As a consequence, the bank cannot control its  counterparties effectively, thus it will lead to bank’s incorrect rating counterparty. Another reason might be mistakes of rating agencies because they do not have enough information about banks’ counterparty. Therefore, it will cause inaccurate risk measure when applying CVA approach. In addition, a report undertaken in this area (Cameron, 2011) shows that there are some participants found CVA’s structuring is sophisticated to apply in several real situations. The dealer proves that there still be existing a lot of pitfalls and problems through the calculating risk process. As a consequence, it might lead to many difficulties for banks in using CVA. 3. Effectiveness of Credit Valuation Adjustment A study by Barus et al. (2010) found that CVA approach uses one-year market risk horizon instead of 10-day. It is the same horizon with model as well as VAR models; therefore it helps banks manage risks easier based on integrated time horizon between risks controlling models. In addition, BCBS (2011b) states that CVA capital charge includes charge for mark to market losses and counterparty’s devaluation in creditworthiness. If banks purchase securities at current time, then their market price decreases, banks will take an expenditure called mark to market losses. CVA captures these risks above means it covers market risk might occur to the banks. In fact, within the last crisis, only one-third of counterparty credit risks were due to actual defaults while the remaining two-thirds caused by CVA losses, especially mark-to-market losses (Goeth, 2010). As mentioned above, CVA also captures risk of counterparty’s devaluation in creditworthiness. According to BCBS (2011a), creditworthiness mentions ability to repay or meet debt obligation of an individual or an enterprise. Therefore, when the counterparty’s repay ability deteriorates, it will lead to increasing of CVA capital charge for banks (Bushnell, 2007) in order to help banks prepare an adequate capital. Put differently, CVA not only captures market risks but also cover credit risks that banks have to face with. As a result, CVA and IRC model associate and support each other to help banks measure and manage combination of market and credit risks more  completely effectively. IV. Stressed VAR 1. Strengths of Stressed VAR Model According to Butler (1999), VAR is defined as calculation used to measure â€Å"the worst expected loss that an institution can suffer over a given time interval under normal market conditions at a given confidence level.† After the crisis in the year 2007, Basel Committee realised that market condition is not always consistent. Therefore, stressed VAR was created to compute VAR which would be performed on the present portfolio of a bank in case that the related market elements were going through a stressed period (BCBS, 2009a). Based on VAR calculated, banks are required to have an appropriate amount of capital to cover their worst expected loss. One of VAR charge’s strengths is it reduces the pro-cyclical capital which are disadvantages for the banks. As stated by Christopher Finger (cited in Pengelly, 2011), recent data used for calculating VAR moved around and around, and it might lead to bad aggregation of more volatile markets, dealers’ losses and enlarged capital. 2. Weaknesses of Stressed VAR Model The weaknesses that can be easily seen in stressed VAR model is stressed VAR cannot capture migration and default risks of banks. That is the reason why banks also have to apply IRC model to capture these risks. Furthermore, stressed VAR also cannot cover mark-to-market losses which need to be measured by CVA approach. Therefore, banks have to cope with more complexity in risk measure; as a consequence, banks can make more mistakes in calculating risk process. One more important point is stressed VAR is not able to measure risk in a normal market condition, thus banks need to use one more different model – normal VAR calculation to measure this type of risk. Consequently, it will require really careful and complicated risk management system in order to measure risk accurately. 3. Effectiveness of Stressed VAR Model In accordance with BCBS (2011c), the effectiveness of stressed VAR model is performed through it can include all risks, for instance interest rate risk,  commodity risk, etc. over a period of stressed market that banks recently experienced. In other words, the more types of risks stressed VAR can cover, the more accurately banks can measure and manage risks. From the stressed VAR’s definition mentioned above, BCBS suggested that â€Å"it should be based on the 10-day, 99th percentile, one-tailed confidence interval VAR measure of the current portfolio, with model inputs calibrated to historical data from a continuous 12-month period of significant financial stress relevant to the bank’s portfolio.† It means stressed VAR uses the same time horizon with IRC and CVA in order to help banks reduce mistakes in risk calculating process due to united horizon. Concurrently, the same time horizon also assists supervisors to revise banks’ risks more effectively. Besides, in order to set up an effective risk management method, banks have to use time-series data of 12-continuous-month for stressed VAR model that includes financial stress event which is relevant to banks’ portfolio (BCBS, 2011c). As a result, the financial crisis from 2007 to 2009 is the time period suggested by the Committee to banks to be used for building stressed VAR model. V. Conclusion In Basel III, three new methods above – Incremental Risk Charge, Capital Valuation Adjustment and Stressed Value at Risk – are concurrently used by the banks and they support each other to measure and manage risks more effectively. Strengths of one method are supplementary for others’ weaknesses. That is the reason why banks are required by Basel Committee to add both of three methods into their risk management. With normal VAR model, IRC, CVA and stressed VAR approaches help banks not only control risks as individual factors but also measure and manage risks as a combination, especially the aggregation of credit and market risks more efficiently. From that, banks need to set up their own capital which is appropriate with their financial situation in order to face with difficulties that the financial crisis 2007-2009 was the typical example. Besides undeniable advantages of three new rules, the largest banks in the world, such as Bank of America, UBS, Royal Bank of Scotland, still found  significant weaknesses and gave comment on the Basel Committee on Banking Supervision’s consultative documents. Basel Committee should concern about these recommendations to readjust Basel III in order to set up an accurate and effective regulation documents for international banks to help banks in particular as well as financial institutions in general avoid disasters as the financial crisis happened in 2007 to 2009. VI. References Algorithmics, (2009) Credit Value Adjustment and the changing environment for pricing and managing counterparty risk. [Online]. Available at: http://www.algorithmics.com/EN/media/pdfs/Algo-WP1209-CVASurvey.pdf (Accessed: 02 January 2012) Barus, R., Battaglia, F., Jagannathan, R., Mendis, J., and Onorato, M., (2010) Basel III: What’s new? Business and technological challenges. [Online]. Available at: http://www.algorithmics.com/en/media/pdfs/algo-wp0910-lr-basel3-exd.pdf (Accessed: 02 January 2012) Basel Committee on Banking Supervision, (2009a) Analysis of the trading book quantitative impact study. Bank for International Settlements. Basel. Basel Committee on Banking Supervision, (2009b) Guidelines for computing capital for incremental risk in the trading book. Bank for International Settlements. Basel. Basel Committee on Banking Supervision, (2011a) Application of own credit risk adjustments to derivatives. Bank for International Settlements. Basel. Basel Committee on Banking Supervision, (2011b) Basel III: A global regulatory framework for more resilient banks and banking systems. Bank for International Settlements. Basel. Basel Committee on Banking Supervision, (2011c) Interpretive issues with respect to the revisions to the market risk framework. Bank for International Settlements. Basel. Benford, J. & Nier, E. (2007) Monitoring cyclicality of Basel II capital requirements. [Online]. Available at: http://www.bankofengland.co.uk/publications/fsr/fs_paper03.pdf (Accessed: 28 December 2011) Bushnell, C. D. (2007) Detailed Comments on Market Risk NPR’. [Online]. Available at: http://www.federalreserve.gov/SECRS/2007/February/20070213/R-1266/R-1266_17_1.pdf (Accessed: 06 January 2012) Butler, C. (1999) Mastering value at risk: a step-by-step guide to understanding and applying VAR. London: Financial Times/Prentice Hall. Cameron, M. (2011) ‘Securitising CVA’, Risk, 24(2), p. 29. Davidson, C. (2009) ‘Urgency and uncertainty’, Risk, 22(4), p. 72. Ferry, J. (2008) ‘Wary of the IRC’, Risk, 21(9), p. 26. Goeth, P. (2010) Basel III – Design and Potential Impact. [Online]. Available at: http://www.garp.org/media/529782/basel%20iii_goeth112410.pdf (Accessed: 28 December 2011) Hull, C. J. (2010) Risk management and financial institutions. Boston, MA Harlow: Pearson Education. Linsz, D. M. (2010) Basel Committee on Banking Supervision, Consultative Document â€Å"Strengthening the Resilient of Banking Sector†. [Online]. Available at: http://www.bis.org/publ/bcbs165/boac.pdf (Accessed: 28 December 2011) Madigan, P. (2010) When market and credit risk collide. [Online]. Available at: Available at: http://www.risk.net/risk-magazine/feature/1652766/when-market-credit-risk-collide (Accessed: 03 January 2012) Pengelly, M. (2011) Stressed VAR questioned by risk managers. [Online]. Available at: http://webcache.googleusercontent.com/search?q=cache:8Hl5fareW-UJ:www.risk.net/risk-magazine/news/2024562/stressed-var-questioned-risk-managers+Stressed+VAR+questioned+by+risk+managers&cd=1&hl=en&ct=clnk&gl=uk (Accessed: 28 December 2011)

Business Practices and Theory 2019

The Doctorate of Business Administration (DBA) is a research doctorate, much like a PhD. There is also a PhD in Business Administration available, but the focus of this program is much more theoretical in nature. The PhD in Business Administration will prepare you for a teaching or research role. While a DBA also focuses on theory, it is designed to prepare the successful candidate for work in a managerial setting. Pursuit of the Doctorate in Business Administration follows completion of a bachelors in business and masters in business program. It may or may not require coursework, but a major thesis (70,000 to 100,000 words) is required along with a formal defense. One of the interesting aspects of this particular doctorate is the fact that many business schools now offer the program with emphasis on particular areas or study, such as technology management or the science of growth management. The curriculum for a doctorate in business administration will often focus on the practical applications that lay beyond the field of study. One program, for example, offers a DBA in Management with focus on organizational behavior, human resource management, strategic management and organizational theory. A person that has completed this level of study could turn to the business world and function as a consultant. Businesses that have experienced rapid growth or businesses that have become moribund with old and ingrown operational methods are prime candidates for professional consulting. The DBA, with an intimate understanding of both the behavioral and structural theories underlying business functions, can be of valuable service in dysfunctional corporate environments. .u7d7ad6a562350f057eb94f94e4087d28 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u7d7ad6a562350f057eb94f94e4087d28:active, .u7d7ad6a562350f057eb94f94e4087d28:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u7d7ad6a562350f057eb94f94e4087d28 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u7d7ad6a562350f057eb94f94e4087d28 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u7d7ad6a562350f057eb94f94e4087d28 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u7d7ad6a562350f057eb94f94e4087d28:hover .postTitle { text-decoration: underline!important; } READ Making a Difference with Payroll AccountingGlobalization has added a new area of focus for many DBA programs. The growing integration of capital, trade and business ownership across borders has provided for some rich new academic orientations. Politics of necessity enter into the picture as entire labor markets and industries are shifted from one continent to another, profoundly affecting the economic balance of trade that nations have traditionally enjoyed. A doctorate in business administration today will include some study of cross-cultural relations, as a precursor to cross-border economic accomplishments. Beyond the cultural issues are international business and trade law, along with offshore labor practices that vary widely and are rapidly being integrated into American companies. India and China are emerging as world economic powers and with this sea change there are great opportunities for those who have a grasp of global economic functionality. There are distance learning programs for both of these degrees. University of Phoenix Online offers a Doctor of Business Administration as well as a Doctor of Management in Organizational Leadership. Capella University has a Doctorate in Business Administration available. Clearly, achieving all of the requirements for these degrees through distance learning would be a formidable task. .u15c902228b74a58b236e759c84486d47 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u15c902228b74a58b236e759c84486d47:active, .u15c902228b74a58b236e759c84486d47:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u15c902228b74a58b236e759c84486d47 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u15c902228b74a58b236e759c84486d47 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u15c902228b74a58b236e759c84486d47 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u15c902228b74a58b236e759c84486d47:hover .postTitle { text-decoration: underline!important; } READ AA Business Watch Out for these Common Degree ScamsIf you have college credits, however, it is definitely worth looking into the coursework required to achieve admission to the doctoral program. The Doctorate in Business Administration is at the end of a long road. Although, unlike most non-medical doctorates, there are many opportunities beyond the academic world. Related ArticlesDoctorate in Business Administration and the Theory of BusinessA Doctor of Business Administration Degree Unlocks the Door to the Global EconomyOnline Postgraduate Business Administration DegreesFind Business and Management Degree ProgramsYour People Skills and a Career in Human Resources ManagementThe Doctorate in Education Educational Leadership

The Birthmark by Nathaniel Hawthorne - 1674 Words

â€Å"The birthmark† by Nathaniel Hawthorne is a story about a scientist who is obsessed about his wife’s birthmark and would go to any length to remove it, because he believes that his has the power of science, commands nature and can cure whatever form of imperfection there is. Why is he so obsessed with the birthmark? Does he successfully remove it at the end without harming his beautiful wife? Why he feels it was best for him and his wife to remove the birth mark, this essay shows it was clearly a stupid idea. Shortly after marrying his bride Aylmer finds out something troubling about her appearance. After gazing at her Aylmer the scientist find a birth mark on his wife’s cheeks and he’s somewhat troubled by it. Georgina his wife has never taken anything serious of her birthmark that is like a tiny hand before he asked â€Å"’has it never occurred to you that the marks on your cheeks can be removed?’†(341) She is angered at first b ecause of his statement, what people considered as a charm would distress the man whom fell in love with her. Furthermore her husband had a dream but forgot about it, now she became concerned with the topic of he and for the first time brought it up just as the light was dimming out, he finally recalls every scene in the dream and he states â€Å"He had fancied himself with his servant Aminadab, attempting an operation for the removal of the birthmark; but the deeper went the knife, the deeper sank the hand, until at length its tiny grasp appeared to haveShow MoreRelatedThe Birthmark By Nathaniel Hawthorne1493 Words   |  6 PagesRomantic period authors, like Nathaniel Hawthorne, a prevalent example of a Romantic author from the 19th century, believed that people were getting too reliant on on science. Romantics were literary rebels who wrote about strong emotions, the supernatural, and the power of nature. The writing style of the previous century was known as the Age of Reason, the authors thought emotion was unnecessary; they loved science and wrote a lot of non-fiction. The romantics wanted to remind people that thereRead MoreThe Birthmark By Nathaniel Hawthorne Essay1615 Words   |  7 PagesA birthmark as referred to in this short story is the â€Å"Differences of temperament†, the inborn traits someone can develop. In Nathaniel Hawthorne s The Birthmark there are many different themes such as, nature versus science, and perfection. We see Aylmer struggle with his own temperament. For him the birthmark becomes the symbol of Georgiana’s flawed humanity, which he tries to alternate. Throughout the story, we come across several observances of otherness revolving around â€Å"The Birthmark†. AylmerRead MoreThe Birthmark By Nathaniel Hawthorne873 Words   |  4 PagesThe Birthmark is a story by Nathaniel Hawthorne the carries vast amounts of symbolism in its pages. It’s a story that you can pretty much look at anything that is involved and see how it carries some type of underlying meaning that either helps the character development or means something entirely different. The basis of the story is similar to that of Mary Shelley’s Frankenstein, which only came out about 20 years before The Birthmark. For the most part the story is about human imperfection andRead MoreThe Birthmark By Nathaniel Hawthorne1511 Words   |  7 PagesThe Birthmark Nathaniel Hawthorne like many other writers during the nineteenth century focused their writings on the darker aspects of life. â€Å"The Birthmark,† is set in New England and has a Puritan perspective. Aylmer, a well-known scientist, marries Georgiana who has a hand shaped birthmark upon her face. After some time during their marriage Aylmer and Georgiana decided to remove the mark through scientific means. Advancements in science and the ability to change nature were at the center ofRead MoreThe Birthmark By Nathaniel Hawthorne2570 Words   |  11 PagesRawan Jabr Professor Stafford English 102 November 9th 2014 Nathaniel Hawthorne’s â€Å"The Birthmark† â€Å"The Birthmark† is a short story authored by Nathaniel Hawthorne and published in 1848. The story is about Aylmer, a brilliant scientist who is obsessed with science and is planning to use his experiments to remove a birthmark on the face of his wife Georgiana. Aylmer’s love for science made him yearn to obtain control of the entire divinity. His wife was among his victims of science that was strongerRead MoreThe Birthmark By Nathaniel Hawthorne1185 Words   |  5 PagesAli Qutab Honor American Literature â€Å"The Birthmark† : Essay #4 December 30th, 2015 The Effect of Nature on the Scientific Ego of Aylmer Throughout, â€Å"The Birthmarkâ€Å", by Nathaniel Hawthorne, symbolism and imagery are used to show that Aylmer s attempt to perfect something natural is the cause of Georgiana s death and that when man manipulates something as powerful as Nature, terrible things can occur. Aylmer is a scientist whose strives for perfection and is blinded by his love for science, resultingRead MoreThe Birthmark By Nathaniel Hawthorne1707 Words   |  7 PagesMany of Nathaniel Hawthorne s stories are based off of morality and is heavily influenced by religious beliefs and women. Hawthorne published The Birthmark, a parable, dark romanticism, at a time when people praised the scientific method and were starting to think science could make anything possible. He set his story about sixty years earlier in the 160-year-long wake of the Newtonian Revolution, in the Age of Enlightenment, when science was gaining recognition. His story argues that, despiteRead MoreThe Birthmark By Nathaniel Hawthorne923 Words   |  4 PagesIn Nathaniel Hawthorne s â€Å"The Birthmark†, we find the tragic story of a woman named Georgiana who sacrificed her life for the sake of appeasing her husband, Aylmer. What did Georgiana do that it was more favorable for her to die than to continuing to displease her husband? Georgiana, who was otherwise hailed as incomparably beautiful, had a birthmark on her face. Aylmer desired this to remove this birthmark, which he considered the one thing keeping her from being â€Å"perfect†, from her face. In anRead MoreThe Birthmark By Nathaniel Hawthorne913 Words   |  4 Pagesstory The Birthmark, Nathaniel Hawthorne used Aylmer and his wife Georgiana to display that no person can be perfect. He does this by using Aylmer obsession with perfection and science. His wife Georgiana beauty is amazing and almost perfect, except for a crimson scar on her check that looks like a hand. Aylmer wants to remove the mark that symbolizes imperfection, sin, and mo rtality; though it could result in death. In the act, he is acting like God. Hawthorne’s argument in The Birthmark is our imperfectionsRead MoreThe Birthmark By Nathaniel Hawthorne Essay1399 Words   |  6 PagesThe Birthmark Criticism Analysis The short story â€Å"The Birthmark† by Nathaniel Hawthorne was written in 1843 at the beginning of the largest feminist movement in the United States of America which occurred between the years 1840 and 1920 (National). Furthermore, during the 1830s and 1840s there were many women who spoke out about women’s rights. They argued for many changes with one of them being a social change in their duties to be subdominant to males. They rallied around the prohibition by fighting