Risk Management Program Assignment Example | Topics and Well Written Essays - 750 words

Risk Management Program - Assignment Example Before starting to implement change as a manager, I should ask myself the following questions, what need to be achieved through this change, how will I know that the process has been attained, who will be affected by this process and when change occur how will they react. To proactively manage system change, the following principles should be applied; developing a plane, supporting it, regular communication with the affected people, and involving the main people. The first step should be to involve the key people. This involves top management and other executives whose employees might be affected. The second step is developing a plan that will oversee effective transformation. The plan will define the roles of the main people involved at the same time putting down the short and long term objectives required for changes. This plan should also be flexible to accommodate any occurrence since change is unpredictable. The third step is supporting the plan. The main purpose of this step is to enable employees adapt the changes made; this is because the new structures might require training or hiring other employees. The last step occurs through the process. This involves free communication with the employees frequently about what is happening, why the occurrence is being carried out and how they are developing is significant. Since change can instill fear on the employees, increased communication will be used to remove the fear and encourage their consistent support. As a manager, I should be always around to take suggestion or respond to questions that might arise from the employees. Coming up with employees opportunities to provide they suggestions like holding meetings will facilitate change better. Plans, policies and procedures in an organization ensure that duties and services are carried out in a consistent manner. To create a risk management policy, there are some guidelines that need to be followed; these include the purpose of the policy, how it will be imp lemented, it should be in compliant with the federal, provincial and municipal regulations, and should be documented in writing. In creating a procedure, step by step instructions are created on how to carry out the significant task. Also the supervisor should be contacted if the employee wants to go beyond the given task. Transparency in an organization is important since it ensures efficient running of an organization. To have a transparent organization, as a manager, I should close the perception gap between the senior leaders and lower managers. I should also put in place a mechanism that ensures that there is proper communication between different parties to ensure that vital issues are communicated. And as manager, incase I encounter disappointing things; I should treat employees as adults with respect. A risk management plan is a document that is created and it outline how the risk management process will be organized, the phases it will have, the way it will be carried out a nd those who will be involved. The following steps are followed in designing a risk plan; one is making a list of potential risks. Everything should be documented include the small things. All the categories of the project should be listed and every risk should be evaluated. For example if it is a cost category, the factors that may raise the cost should be determined and listed. The second is

Ijarah and conventional lease contracts Assignment

Ijarah and conventional lease contracts - Assignment Example The main aim of this research is to give detailed characteristic of conventional leasing system and Ijara, to disclose differences and common features and discuss the variety of options and applications of both(Usmani). â€Å"Ijarah† in the language of banking and finance can have two simple definitions â€Å"hiring† and â€Å"leasing† which are commonly interchangeable, but the origin of that word comes from Arabic ‘ajara’ which means ‘recompensing’ or ‘rewarding’. From the view of the Islamic banking system Ijarah is referred to Islamic contract of leasing of property and equipment, of land to be leased to a client for rental payments or stream payments. From the view of Islamic banking system Ijarah is referred to a certain leasing contract of property and equipment or land which is leased to a client for rental or stream payment(Open to comparison). Ijarah word is to symbolize a contract between the two sides – the lessee and the lessor where the lessor is presented as an owner of a property of any kind and he gives permission to a lessee to make use of the usufructs of the property in question with terms agreed about the leasin g and the rental period. According to the fact that Islamic countries cannot be disconnected with their religion Ijarah contract has gained the permission of the Shari’ah due to several authorities(Nizram): The both parts of the contract are to be provided with certain conditions: they must be able to take responsibilities as well as being in sound mind and having reached the age puberty and the majority age. Secondly, the must not be banned to deal with their property, they need to present stability and stay far from being declared bankrupt or wasteful. Both of the sides should not be under pressure re any kind of compulsion. There are four conditions set up for property: first and foremost property must be owned by a lessor, it has to be available for immediate use, it is supposed to be delivered to the lessee and