Thursday, February 27, 2020
SEX CRIMES Essay Example | Topics and Well Written Essays - 2500 words
SEX CRIMES - Essay Example Introduction Sex crimes include incest, rape, bigamy, child pornography, child molestation, indecent exposure, sodomy and prostitution. Nowadays, sexual motives play a pivotal role in stranger murders, intimate murders, serial murders, child murders, sexual abuse murders and prostitute murders. There exist a close link between homicide and sex. Sexual homicide can be defined as homicide where there exists a sexual motive, relationship or perversion, which includes molestation, rape, intimacy, prostitution, sexual jealousy and battering. Sexual homicide means the killing of an individual in the background of sexuality, brutality and power. Sex played a dominant role in various varieties of homicides involving kids, sexual workers and serial killers. (ââ¬Å"Flowers, 2006, p.9â⬠). Sex offenders comprise of an assorted group of individuals. The term sex offender is associated with the individuals who have carried out felonies like rape, engaged in child pornography, sexual murders and indecent exposures. Sexual offenders can be either juveniles or adults, male or female and of any age. Majority of sexual offenders aware of their victims and are associated to them, have some relationship with them or might have some authority over the minor or acquainted with them. Further, sexual offenses differ across cultures, religions, countries and states. In sexual offenses, there is a lack of consent on the part of victim and some level of intention on the part of an offender. Since 1980, many laws have been enacted in USA to enhance the supervision and administration of sexual offenders. For instance, such policy requires registration of sexual offenders, notification to community, restriction on residence, monitoring by GPS and compulsory chemical castration for those sex offenders under parole. (ââ¬Å"Terry, 2010, p.3â⬠). Statistical Date of Sexual Crime in USA In USA, as per the US Department of Justice, in every 2.7 minutes, one person is raped. In their lif eââ¬â¢s time, every one out of six American women has been the target of an attempted or suffered rape. In their lifeââ¬â¢s time, one in every thirty-three American men have witnessed an attempted or experienced a rape. In 73% of the sexual / rape attempts, the offender was well known to the victim who may be either an acquaintance or a friend or an intimate. About 191,670 rapes / sexual assaults were experienced by the victims with an average age of 12 or older in 2005 alone. Further, kids under the age of twelve comprise of 15% of the sexual /rape victims. Further, those under the age of 18 comprise about 44% of rape or sexual assaults. About 62% of the all sexual assaults or rapes were not made a complaint to the law enforcement in the year 2005. Of all the age group, people in the age group of 16 to 19 had a higher scale of sexual victimization. About 66% of prostitutes were reported to be sexually assaulted when they were as a kid. About 12% of the rape cases were recogni sed as alleged drug-facilitated cases in an emergency ward of a hospital. About 64,080 American women were reported to be raped in the year 2004-2005 alone. The occurrence of pregnancy for every-time unprotected sexual intercourse is estimated at five percent as per the medical reports. By applying the same to the 2004-05 rape victims, one can come to a conclusion that there would be 3,204 pregnancies due to sexual assault in that period as per RAINN report. Further, those kids
Tuesday, February 11, 2020
International Marketing Assignment Example | Topics and Well Written Essays - 2500 words
International Marketing - Assignment Example It was started in 1940 by Dick and Mac McDonald as the drive-in McDonaldââ¬â¢s Bar-B-Q restaurant in California, with the current restaurant format debuting in 1948 at the same location. In 1949, it introduced its legendary French Fries and Triple Thick Milkshakes. In 1954, the company franchised for the first time through Ray Kroc, which marked the beginning of rapid expansion of its business. In just four years, it expanded from 100 outlets in 1959 to 500 outlets in 1963. It went public in 1965 and began international operations in Canada in 1967. By 1983, McDonaldââ¬â¢s operated 7778 outlets and as of 2011, it operates 34000 outlets in 118 countries around the world, of which 80% are franchised (McDonaldââ¬â¢s, 2013a; McDonaldââ¬â¢s, 2013b). It has 1.8 million employees and is listed in all major stock exchanges such as, NYSE and LSE (NYSE Euronext, 2012; London Stock Exchange plc, 2013). McDonaldââ¬â¢s offers a variety of products in its home country of U.S such as , hamburgers, sandwiches, wraps, fried chicken items, salads, oatmeal breakfast, burritos, hotcakes, French fries, coffee, smoothies, yogurt, milkshakes, juices, ice cream, pies and cookies. Most of the products are available worldwide, with a few exceptions. On the other hand, it offers regional products in various countries that are not available in the U.S. Some of the country-specific products include McArabia wrap in the Middle East, McSpicy Paneer burger in India and Bubur Ayam chicken porridge in Indonesia (McDonaldââ¬â¢s, 2013c; McDonaldââ¬â¢s, 2013d; McDonald'sâ⠢ India, 2013a; McDonald's Indonesia, 2013). Rationale behind internationalization Since its inception, profit maximization was one of the prime motives of the business model, besides gaining maximum market share and attaining a vast service network. Throughout its history, McDonaldââ¬â¢s Corporation received a hugely positive reception and enjoyed a virtually competition-free environment during its gro wth, with the only direct competitor being White Castle that operated since 1921. The global influence of U.S. and the American culture being perceived as the right way of life also triggered a positive brand image of the company outside U.S., even before it began international operations. Thus, the rationale behind internationalization of McDonaldââ¬â¢s Corporation can be summarized as profit maximization, market share maximization, making good use of the positive brand image created internationally and gaining first moverââ¬â¢s advantage in foreign countries. Today, the company operates in 118 countries and is considered as a symbol of American culture (McDonaldââ¬â¢s, 2013a; White Castle Management Co., 2013). Mode of entry in foreign countries The different modes of entry that are available to a company are exporting products and distributing through a regional outlet, contracting another company to set up the complete business infrastructure for the entering company in exchange for a fee (known as a turn-key project), teaming up with a local partner to jointly share investments and profits (known as joint
Friday, January 31, 2020
In the Sun Also Rises by Ernest Hemingway Essay Example for Free
In the Sun Also Rises by Ernest Hemingway Essay In the Sun Also Rises, by Ernest Hemingway, alcoholism is an important theme in the novel. Alcoholism is a large part of Ernest Hemingwayââ¬â¢s novel ââ¬Å"The Sun Also Risesâ⬠. Drinking is the greatest escape that the characters use and the author employs it very often in the novel. All throughout the novel, the characters are drinking excessively. They use drinking to also help prove themselves. Because of Jakeââ¬â¢s war wound made him physically unable, he feels that he must prove himself to people so he uses drinking to prove himself. Jake also uses wine to forget the things that he doesnââ¬â¢t like about his friends such as the fight between Mick and Cohn, when Mike was mad that Cohn is always looking at Brett and holding in to her everywhere she goes. ââ¬Å"There was much wine and ignored tension, and a feeling of things coming that you could not prevent happening. Under the wine I lost the disgusted feeling and was happy. It seemed that they were all such nice peopleâ⬠(Hemingway 150). In reality, all that drinking does is to give them something in common so that they can relate to one another in some parts of their lives. They are always drinking together and talking about their life difficulties. Often, drinking provides a way of escaping reality and allows them to avoid their problems by avoid thinking about them. In conclusion, in Hemingwayââ¬â¢s the Sun Also Rises, it is clear that alcohol dependency is a main theme.
Thursday, January 23, 2020
Creating a Personal Electronic Home Room Security System Robot with Leg
Personal Electronic Home Room Security System-Bot Question: Is it possible to create a personal electronic home room security system with Legoââ¬â¢s Mindstorm kit? Hypothesis: If I use the Legoââ¬â¢s Mindstorm kit, I hypothesize that any type of security system is possible with legos because the freedom of using as many RCX blocks as possible allows room for larger and more complex robots, though the program NQC does have some limits to it. Background Research: Ever since the beginning of civilization, people had been searching ways to secure their own privacy from intruders. First, it was fire, the most basic form of security that scared unwary animals away, along with dangerously exposing oneââ¬â¢s ââ¬Å"clandestineâ⬠hideout to curious nature. Next came the actual fortification of structures and barricades, which provided temporary protection from unarmed thieves. Finally, after centuries of failed attempts of searching a flawless security system, the world entered the Information Age, where home security was given a complete renovation in safety and style. A typical home security system consists of an alarm system that sounds after an unwanted break-in. Motion sensors around the house may also trigger such an alarm, just in case if the burglar is already hiding out in the house after security is set. Paranoid housekeepers may also take the extra step of installing timed light systems, just to inform burglars that there is still life and activity within the house. However, the price is horrendously expensive. Nevertheless, one security system for the house is enough for the whole familyâ⬠¦ unless, those pesky teenagers want one too. Subsequently, installation of nested alarm systems and motion sensors is rather inconvenie... ... further studies, future creators can remedy this problem by developing new ways for two RCX to communicate with each other, such as touch sensors that are attached to both RCXââ¬â¢s, or the usage of laser communication. One other problem is the exposure of the RCX blocks that can allow intruders to simply turn off the blocks to shut off the alarm system. This can be fixed by developing automatic enclosing boxes that lock over the open RCXââ¬â¢s when password is set. The idea of multiplexing sensors without the usage of extra hand-created pieces is another important research that can allow more convenient robots and even a numeric pad controlled security system. With these studies, paranoid room securers may someday finally find peace in the security they have. References: Baum, David. Definitive Guide to LEGO MINDSTORMS: Second Edition. New York, Apress 2003
Tuesday, January 14, 2020
Child Labour Essay Essay
In the 1800ââ¬â¢s children were forced to go to work in factories for little pay. The factories were in very bad conditions for children to work in. Most of the kids got asthma because the factories were so dusty. The children had to get into small gaps in the machines to fix them which was very dangerous and some of the children died because of it. A lot of the children didnââ¬â¢t get any sleep so they fell asleep in the factories. The children had to bend over for long periods of time, if they fell asleep which made most of them cripple. Many factory owners were against reforming working conditions for children. This was because they thought they provided education, fair pay and helped them by giving them a job. They also said ââ¬Å"without working in factories the childrenââ¬â¢s family wouldnââ¬â¢t be able to survive. Some factory owners called for reform because they thought they worked too long hours and they didnââ¬â¢t get enough education. Some campaigners thought that reforms should be introduced because the factories were in bad conditions and most of the children have deformed bones and bad lungs. Other campaigners thought they should not because at least they are off the streets and not causing crime and the children are happy and there is no violence there. Doctors too, thought it was important to improve working conditions for children. For example Dr Samuel Smith thought that they should reform because children suffered loss of limbs like fingers and thumbs etc. Other doctors though thought differently because it wasnââ¬â¢t unhealthy to stand for long hours and they wanted to get more money from children visiting. Many children themselves wanted to keep working because otherwise they would live on the streets and if they lived on the streets they may possibly die of starvation. However, they still wanted to reform such as no harsh punishment, less working hours, more education, more sleep, and 3 meals a day. In conclusion, the result of the debate was for the Government to pass the 1833 Factory Act to improve conditions for children. The basic act was as follows: No children under the age of 9 are allowed to work, which was fair to the factory owners and the children Children between 9 and 13 are not allowed to work more than 9 hours a day and children between 13 and 18 are not allowed to work more than 12 hours, as the older children are stronger so they can work more hours Children are not allowed to work at night, this was good because the children could get more sleep which would make them more healthy The working days would start at 5:30am ~ 8:30pm and the other 9 hours are for resting Kids must have 2 hours of schooling each day so when they grow up they can read and write. Children allowed 1 à ½ hours for meals Children must have 3 meals a day so they can keep healthy The factory owners would have been disappointed, but the doctors and the children would have been very pleased and some of the campaigners would be happy but some wouldnââ¬â¢t.
Monday, January 6, 2020
The M Records, Inc. V. Napster - 1439 Words
The purpose of the copyright system has always been to promote creativity in society and protect the creatorsââ¬â¢ interests. In applying copyright laws to any creation, three basic guidelines apply. First is the fair return for a creators labor, second is ââ¬Å"Fair Useâ⬠of the creatorsââ¬â¢ labor and finally the Progress of Science and useful Arts to further the public good. The application of these three guidelines in litigation for AM Records, Inc. v. Napster, found that the rights of reproduction, and distribution had been violated, in effect upholding the copyrights of nineteen different music companies represented under AM Records name, this ruling had protected the music industries interests. However it would seem that the publishing industry would not be so lucky, litigation in Authorsââ¬â¢ Guild vs. Google ruled that Googleââ¬â¢s actions constituted fair use. Under these two scenariosââ¬â¢ the copyright lawsââ¬â¢ have, effectively, protected the ri ghts of music artistsââ¬â¢, protected the publicââ¬â¢s right to ââ¬Å"fair useâ⬠and sparked new opportunities for creative growth. However, lawmakers continue to struggle to define copyright boundaries between the publicââ¬â¢s right of use and the creators right to profit from their efforts. Purpose of Copyright One needs to have a basic understanding of the purpose behind copyright laws as the founding fathers had intended. As stated in the ââ¬Å"Constitution. Article I, section 8, clause 8 of the United States Constitution provides that Congress shall have theShow MoreRelatedThe Napster and Grokster Cases: Differences and Similarities891 Words à |à 4 Pagesdebates ââ¬â peer-to-peer piracy ââ¬â file sharing. Internet companies such as Napster and Grokster became involved in notable legal cases in regards to copyright laws in cyberspace. These two cases are similar in nature, yet decidedly different. In order to understand the differences and similarities, one should have an understanding of each case as well as the courtââ¬â¢s ruling. According to the text A Gift of Fire, Napster ââ¬Å"opened on the Web in 1999 as a service that allowed its users to copy songsRead MoreA M Records Vs. Napster1001 Words à |à 5 PagesAM Records v. Napster is a landmark case in which the application of intellectual property laws has forever impacted contemporary culture with regards to digital works. The legal issues and applicable laws presented in the instant case resulted in a holding, which set forth a precedent that has influence the mode and means of digital works distribution. The outcome of Napster affects both businesses and individuals. Napster, a free online file sharing network, allowed peers to share digital filesRead MoreA M Records Vs. Napster Essay978 Words à |à 4 PagesAM Records v. Napster is a landmark case in which the application of intellectual property laws has forever impacted contemporary culture with regards to digital works. The legal issues and applicable laws presented in the instant case resulted in a holding, which set forth a precedent that has influence the mode and means of digital works distribution. The outcome of Napster affects both businesses and individuals. Napster, a free online file sharing network, allowed peers to share digital filesRead MoreCopyright And Public Domain Within The Entertainment Industry907 Words à |à 4 Pagessectors of television and film to render profitable returns. The case of AM Records Inc. v. Napster Inc., record companies brought infringement action against Napster for the unfair use of copyrighted work and harmed the potentiality of music within the market (239 F3d 1004, 2001). With the burgeoning of the internet age, musicians and artists were faced with the threat of in home piracy, via file sharing programs like Napster, or Grokster. There are claims made suggesting that copyright is a directRead MoreFile Sharing : Copyright For Information Professionals2266 Words à |à 10 Pagesproperty. In 1999 a 19-year-old college student co-founded a small file-sharing service that quickly grew and led to a landmark copyright infringement case. Napster, Inc. was a free service that focused mainly on audio files and allowed users to upload and share their files with others. Although similar services existed at the time, Napster was considered more user-friendly and quickly gained widespread notoriety after huge numbers of users began to upload and share MP3 files. This was the firstRead MoreEssay on Intellectual Property in the Age of the Internet1683 Words à |à 7 Pagesexponentially when Shawn Fanning created the software for Napster in 1999. It was estimated by the US Congress that peer-to-peer file sharing, increased 600,000,000 times because of Napster-type programs (H.R.4077, p.1). The losses felt both by the Music Industry and the individual artists, such as Metalica are undeniable. Napster was eventually shut down after residing Judge Marilyn Patel, in Napster v. AM R ecords, exclaimed that Napster was à ¬engaging in, or facilitating others in, copying, downloadingRead More Copyrights in the Music Industry Essay examples2359 Words à |à 10 Pagesproblem compared to Napster and Peer-to-peer networking (P2P). Napster was a web operated site with free software that enabled users to copy and transfer MP3 files via internet. (Miller R. J., 2011, p. 128) Peer-to-peer or P2P was sharing of resources (such as files, hard drives, and processing styles) among multiple computers without the need for a central network server. Napster was allowing users who downloaded the free software to illegally download artist music. Napster was eventually chargedRead MoreThe Issue Of First Amendment Law2539 Words à |à 11 Pagesof English printers and booksellers known as the Stationersââ¬â¢ Company (Moser Slay, 2012, p.15). When the revised version of this act was passed in 1557 requiring that all written works had to be registered with the Stationersââ¬â¢ C ompany in order to record who owned the copy right, it became clear that the Stationersââ¬â¢ Company was essentially a monopoly because they also had the right to find and destroy any works that were offensive. ââ¬Å"This precursor to copyright was therefore a means of censorship ratherRead MoreCopyright Law And Its Effects On The World Of Art2229 Words à |à 9 Pagesof art h) Reproductions of a work of art i) Drawings or plastic works of a scientific or technical character j) Photographs k) Prints and pictorial illustrations including prints or labels used for articles or merchandise l) Motion-picture photoplays m) Motion-pictures other than photoplays n) sound recordings. (D) The list above is a wide range of works of art that can be copyrighted and this list has stayed true to todayââ¬â¢s works from artists, authors and the like. Anything created by an ââ¬Å"authorâ⬠Read More The Digitial Millenium Copyright Act Essay3311 Words à |à 14 Pagesinformation. The bottom line is that the objective of the Digital Millennium Copyright Act is to prohibit all Internet users from accessing copyrighted materials on the Internet. The most renowned case where this is currently happening is AM Records, Inc v. Napster Inc (Downing 2). The reason the DMCA creates such controversy is that many people believe that the Act puts all of the control into the creatorââ¬â¢s hands, which, in truth, is not a balance at all. However, one cannot blame this lack of balance
Sunday, December 29, 2019
Demonstrate And Critically Analyse The Risk Management Process Finance Essay - Free Essay Example
Sample details Pages: 9 Words: 2794 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? ABSTRACT Today, its become difficult to protect financial organisations from risks. It harms the organisation in different ways like damaging assets, information or data. It can be in any organisation whether it relates to Business, Finance, or IT. Donââ¬â¢t waste time! Our writers will create an original "Demonstrate And Critically Analyse The Risk Management Process Finance Essay" essay for you Create order Therefore to handle risk companies use Information Risk management. It is the process of managing risks and protecting organisations. There are many issues like information classification where different categories of information are needed to protect using different terminologies. The information risk management adopt international standards according to business context. It has management principles to securely manage organisational assets. INTRODUCTION Information plays vital role for organisations to get success. To protect information companies have Information risk management. It is a powerful source to tackle with the risks found in the organisations. The Risk management define strategies to locate the risks and threats in the organisations and also provide solution to reduce the affect of risks. An effective risk management process is an important component of a successful IT security program. The principal goal of an organizations risk management process should be to protect the organization and its ability to perform their mission. (Stoneburner et.al, 2002) The information risk management process considers the goal and objective of the organisation to manage and remove risk from the company. The risk management processes has certain predefined steps to follow and to manage risks in business. These steps include identification, analysis, evaluation, treatment, monitor and review techniques. These steps are reviewed and monito red to check whether processes are going in right direction or not. safety_flow_chart Risk Management Process (Exton, 2010) Another way of protecting information is Information classification by using this process organisations classify there information into categories having different security levels. In a finance companies like Bank, Insurance companies, Loan companies, etc risk management processes are required to provide secure environment and confidential information. Its dificult for any bank to convey information they have regarding their customers or stakeholders. The financial risks are also very high in the banks. They need financial strategic plan to protect transactions. Therefore they use risk management strategies to prevent the informaiton they have form hacking and to secure other information assets. Identify and critically assess the importance of the information classification process and other related issues. Information is an important asset of every organisation. The each phase of organisation needs information. Every department has some specific information to protect. Therefore for security reasons the classification of information is important. Organisations usually classified there information into different categories like Secret, Confidential, Restricted, Unrestricted, and Sensitive. The increasing need for companies to protect their customer and financial information is obvious. (Fowlar, 2003) The classification of information in financial companies is become important because now a days banking sectors are using IT technology. They transfer money online which is quite risky because of hacking, phishing, sniffing, etc techniques used by Hackers. An important aspect of protecting critical electronic information knowing what information needs to be protected, what doesnt, and who are the authorized recipients. Countless organizations stamp Confidential at the bottom of their docume nts. It says everyone inside the organization can access it, but nobody outside. (Landwehr, 2007) This classification method will help to identify important information of the organisation which helps to protect it. Another most important and difficult portion of information classification defines very strict classification rules to ensure that there isnt any overlapping between different information entities. If the information overlaps then it leads for redundancy of data and function in IT enterprise. (Nattygur, 2005) Issues Related To Information Classification: While performing these tasks there are many problems that a bank faced to reduce risks. The first issues that arise are categorising information into different categories like public and confidential. To divide information, review of whole information is necessary. Therefore a responsible person is required. Some time companies higher Information Security Consultants from outside the organisation which may work for more than one organisation. Therefore it is a risk to the confidentiality of the information security. Risk in the classification of information depends upon risk factors of information used by banks. The information which is more prone to threats is categorised with higher level of security and other in lower level according to low risk. The information classification issue is dependent on context and content of the information. Example: if john smith has $100 in his account then it is not sensitive but if he has $100,000 in his account then information becomes extremely sensitive.(Bayuk, 2009) It becomes difficult for some organisaitons to create flow chart to depict the nature of classification because of complexity in use of information. Critically analyse the information Classification schemes and information classification management process. Information classification scheme is a process of classifying information for public and private sector. The effective information classification scheme can be setup by defining organisations goal, which says what you want to do with classified data. The classification scheme of information is developed to categories information into different categories. The main prospective of classification is to provide security to information used in organisations. In financial organisations like bank, the information used is known as bank information. (Rao et.al, 2007) In Banks, they need to take financial decisions those are required to be confident. Therefore to protect this information bank store it according to different modes of security. In banks the financial information is classified as account amounts, saving, deposit and loan values, ratios, call reports, and financial statements. (Rao et.al, 2007) The classification of information in this context helps to provide protection to custom ers. Generally organisaitons classify information in following categories: Secret- The Secret information is accessible only to higher authorities. Confidential- The Confidential information is customers personal info saved by organisations. Sensitive- The sensitive category includes data which can be easily damaged. Restricted- The restricted type has restriction to access information without privileges. Whereas it can be classified as Colour coding Scheme, Classes, Nation-wise. Information classification schemes used in banks filter information and define it according to Classes. These classes have labels of security to access and use information in different fields. The motive of financial organisations to use classification scheme is apparently to secure the information form copying or to protect it from being damage by intruders. In other way classification of information is making it Confidential. If it is written at the bottom of the document that means the information is highly sensitive. If the sensitivity is high that means the level of information security is higher. Information classification management process: The Information classification for financial organisations is required to manage under continues process. The commercial banks need information under different classes. Most banks use e-banking for the transactions of information and money. This process requires more security to protect information from hackers. The banks classify information and prioritise into different categories according the security requirements. For each system that enters, processes, stores, or transfers data that the bank has classified as highly confidential, controls should be in places that are commensurate with the information they protect. The information classification process will assist bank management in focusing attention on priority areas first and pinpointing key areas of vulnerability.(Bonnette, 2002) For example in Colour Coding scheme management classify information according to its privacy. Management assign different colours which represent how much particular information is secured like; re d is more secure, purple is intermediate, and green coloured information can be assessed by any authorised user. Please find steps to classify information in Appendix-I. Demonstrate the needs for information risk management and the importance of adopting international information risk management standards. Risk is the probability that a hazard will turn into a disaster. (Fairhurst, 2002) Risk is an unexpected event which causes damage to the organisation. The organisations use Information Risk Management (IRM) to Manage, Identify, Plan and Reduce the risk factor from companies. The basic need of risk management is to protect information assets and the goal of the organisation. The risk management also helps to protect organisation from internal and external threats. The need of IRM is for: Information risk management easily track and find risk from the organisation. IRM requires to protect the firm against market, credit, liquidity, operational, and legal risks.(IFRI) The risk management provide transparency in business strategies. Every organisation has some vital information to protect that information risk management will help. It removes the risks in given time spam from the business. IRM monitor risk throughout the life cycle of running process and tell where risk lie before it create any damage to information assets. The risk management is used to maximise the resources of organisations. The IRM protect the reputation of business organisation. IRM also resolve the issues related to risks The IRM helps in planning, decision making processes as well. Importance of adopting international standards of IRM: The international standards are importantly used in many finance companies to implement security. There are many standards available but mostly ISO/IEC 27001:2007 and BS7799 are commonly used in UK based organisations. The important aspect to use these standards is to improve the quality of the information, and to reduce risk factor. These two standards have defined life cycle which include risk management, risk analysis, risk evaluation, risk assessment, and risk treatment steps to manage risks in the organisations. If banks have some standard then it increases customers liability which leads to more investment in bank. It also provide framework to handle issues related with security. The international standards make organisations more aware about risks. In financial companies it increases the investment and helps to grow organisation with great extent. Demonstrate and critically explore the concepts of information risk management in the business context. The business organisations deals in finance have many risks related to money, information loss, weak strategic plans, etc. The companies having risks also suffer from delays in outcomes, processes, financial problems, operational work flow. To overcome these difficulties companies make use Information Risk Management which is very beneficial for improving their financial power. Information risk management is used in every organisation whether Business, IT, or Finance. A string of large and highly public corporate failures over the past 10 to 15 years has focused investors and regulators attention worldwide on the way in which company directors and managers are managing risk. Many companies have focused on value creation as a key goal. (ICA, 2002) The need of managing risk is to meet the business goals. Stakeholder, investors and other members of managing committees make sure that best technique must be used. IRM use following steps to manage risk in business: In the first step Identification of risks in the companys are determined and they ranked according to higher threats. Selecting the risk management technique to avoid and eliminate risks. Defining controls to manage risks. Continuously monitor effectiveness of risk management strategies. Reviewing techniques and improving business by experiences.(ICA,2002) The financial director has responsibility of managing and regularly monitoring risks in organisations. IRM helps in defining long term strategies, reduction in programming errors, making and planning of projects, operational outcome of organisations, and financial transactions. The risk has different levels i.e. Strategic, Program, Project, Operational, and Financial. Information risk management handle risk according to its severity in business. The IRM track the risk and then take action according to different terminologies. It mitigate, accepts, transfer, eliminate, and reduce risk according to its possibility of occurrence. In UK financial organisations use CRAMM (CCTA Risk Analysis Management Method) tool to protect from financial risks in business. (Sans, 2002) Critically explore the different types of information risk management terminologies used and the types of assets. Information is the important key of doing things in right format. In organisational way the information is the processed form of data. Companies gather data from different sources, which is called as raw data and then they process this data to derive the required information. To protect this processed information there is a need of risk assessment. The Risk Assessment is an examination of knowing everything is going right or not. And finding whether precautions are needs to revise or not. To procure information assets of organisations the Risk Treatment is necessary. The organisations are using many tactics to control and manage risks. The Risk Management process is used to identifying, analysing, and prioritising risks according to its severity. To protect information there are different types of terminologies available. The terminologies are defined as a set of terms used to manage organisation. These are designed according to organisations work flow. The different terminologies in use today are: Mitigation: It is a process of improving or reducing new risks occurred in organisations or those might occur to harm financial assets. Accept: According to this terminology IRM allows bank to enter risks which does not damage to companies assets. Transfer: It transfer risk to other party handling risks in the banks. Eliminate: This terminology is used to reduce risks from banks. Risk owner: The Risk Owner is the person acknowledged by financial organisations as the responsible individual for overseeing the risk. The Risk Owner identifies and assesses risk to produce probability and impact information. He or she should develop risk mitigation and contingency plans and provide status data for respective risk issues.(McNair, 2001) Residual risk: It is any disclosure arises from risk completion or management terminologies. Different Types of Assets: The information management is very valuable in context to information protection and for the protection of information assets. The Informational Assets are another important aspect as organisational view. There are different types of assets like tangible assets or intangible assets. In financial markets tangible assets are also known as physical assets. (Brigham, Houston, 2007, page 145).It includes all hardware equipments used in organisations. The intangible assets are Software devices, Information or Data used in company, Policies, Pricing details, Business continuity plans, Training material, Risk analysis, etc. IRM also use different terminologies to handle risks. Investigate the risk management principles in terms of organisations information security management and develop the information risk management strategy for organisation to effectively handle the issues. The IRM has important role for financial organisations like banking sector to diminish risk. There are different terminologies used to save company from risk. Every bank using information risk management has some principles or rules to follow. These principles are as follow: Confidentiality- The banks keep the customer information as very confidential. They provide satisfaction to their customer to keep their information secret. They also do some paper work for the satisfaction of customers. Integrity- This principle protect information from modification by unauthorised persons. Availability- The availability means it should be available whenever it requires in the Banks. Authentication- It ensure that both parties wants to access information has right to access that information. The Information Risk Management (IRM) provides transparency between Bank and their customers to gain faith of people. The managing committee of bank set priority of accessing information risks. IRM minimise credit risk in most of the banks. IRM deploy Risk avoidance, Risk Transfer, Risk reduction, Risk assumption techniques for banks. IRM develop many strategies to handle risks in banks these are like: Risk Avoidance: The risk avoidance is similar to ignoring the anything else. But only those risks can be avoided those are not dangers. Risk Acceptance: The organisation accept risk when the losses are less but the profit is higher by accepting it. But it does not mean that management do not know about the effectiveness of risk. Risk Mitigation: It is a process of minimising the probability of occurrence risks. Risk Transfer: In this the risk is transferred to another group of risk handlers to overcome the load of processing. (Nikonov, 2009) Risk Retention: This process is used to retain risk at the current position until it recovered. Risk Abatement: This is used to reduce the risk from the organisation. Risk Allocation: In this, organisations share risk with other parties if risk become higher. By using these strategies financial risks can be moderated. While developing strategies for banks the IRM must know about financial behaviour of the bank, what type of risks can be occurred to divide information of Bank into different levels of security. By developing strategies the organisations can reduce risks and improve the financial conditions of banks. CONCLUSION: In Conclusion, the information risk management has vital role in organisations. It provides security to classified data by using different techniques. It work according to the principles and terminologies defined. The adaptation of international standards also helps to secure information. The IRM develop risk management strategies accordingly the occurrence of risks in organisations. RECOMMENDATION: I would like to recommend deploying Information Risk Management strategies in financial organisations because the financial information is open to threats and hackers always in deed to hack that information. And most importantly the organisations must use international standards.
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