Risk management (casa study of British American Topacco Pls(BAT)) Essay

Risk management (casa study of British American Topacco Pls(BAT)) - Essay Example In the year 2009, the subsidiaries of the company enabled global governments to earn over  £26 billion in a financial year from taxes together with excise duty on their product. The subsidiary companies of BAT operate in 41 countries producing through 50 cigarette factories around 724 billion amounts of cigarettes. The company employs around 60,000 people globally. The organisational decisions are made keeping in view certain policies, strategies, standards, and delegated authorities. The benefit of local stakeholders to a business is the pivotal point in any organisational decision. The management of BAT is also conscious about their operating responsibilities as they produce products which pose risk related to the health aspects. The company works coherently with thousands of global tobacco farmers. These attributes have made the company a leading global giant in the tobacco industry. In this report, the inherent risks associated with any organisation will be analysed. Stakeholde rs’ benefit is a significant part of any business. They are generally concerned about their losses and gains from any business before investing in it. Therefore, the manager of any business has to try and mitigate any risks related to any business for shareholders to keep faith in the organisational business policies and initiatives and thus enabling them to consider making further investments into the business. The corporate governance process also is an integral part of any business organisation, as they have to carry out their financial activities as well as their organisational activities keeping in view the regulations of corporate governance (British American Tobacco, n.d.). Risk is an integral part of any business venture. Therefore, there is a need to properly manage risk in order to maximise the benefits from a business and reduce the damage which may be caused due to the risk associated with it. Risk management is a very

HR's Role in an Organization Essay Example | Topics and Well Written Essays - 1250 words

HR's Role in an Organization - Essay Example Huge responsibility is laid on medical staff, whom we entrust with the most important thing that we have – own health. In this respect, the process of choosing and recruiting the right employees becomes the most initial for medical establishments. Effective and correct work of personnel influences on the customer’s satisfaction, which in its turn affect competitiveness, reputation and profits of the hospital. Sometimes one little mistake of medical employee is able to cause drastic and destructive consequences, which also not always can be remediable. For avoiding such situation and providing clients with highly qualitative treatment, it is recommended to take the recruitment, development and training of human resources into careful consideration. It is important to realize the significance of appropriate personnel, which is able to become the biggest competitive benefit of the organization only on conditions that a company implements various programs of constant develo pment and improvement of workers’ productivity. ... Human recourses as competitive advantage Today more and more companies start to realize that human is the most significant factor for pushing own business to effectiveness and profitability. However, only few of them pay much attention at personnel development, considering such action as money-loosing. In reality numerous practical examples show that the more entrepreneur spends up on own staff the bigger return comes later on. Competition can be rather unsteady phenomenon, which depends on various elements. The most considerable of them is highly professional service that makes clients content and creates customer’s loyalty. Frequently one detail of personnel’s work can affect customer’s attitude to the whole company. And with a help of word of mouth one unsatisfied consumer is able to influence on groups of people, which in own turn can proceed the chain of negative review. But if a company has a qualified team of real specialists, who posses deep knowledge alo ng with good interpersonal skills and comprehend the significance of customer’s satisfaction, then such enterprise will be in demand on the market. That is why effectively used human resources can become a huge competitive advantage that manages to attract new customers and affect the financial results of company’s performance later on. Despite developed equipment and new techniques used during medical procedures, the personnel of Laurel Surgery and Endoscopy Center guarantees a good old-fashioned patient care. Medical staff of the center looks after each client extremely attentively, ensuring pre- and post-operative treatment, the questions about which potential patients may find out from the