How to decrease the possibility of having financial crisis Essay

How to decrease the possibility of having financial crisis - Essay Example The financial crisis in a company is an unplanned burden which may affect its resources, capabilities, the values and the goodwill of the company. Lack of corporate governance and business ethics is one of the reasons responsible for the financial crisis in an organization. Acemoglu and Johnson (2003) have said that managers should change their way of thinking by disregarding that mismanagement of the macroeconomic policies is responsible for the lack of corporate governance. They should plan for strategies to overcome crisis in an organisation. The business leaders should focus on the policies like the legal framework of the organisation and protection of the interest of the stakeholders and investors. A good relationship between the shareholders and the managers help to achieve corporate governance within an organisation. Lack of business ethics in an organisation is responsible for weak corporate governance. Business ethics help an organization to frame a corporate governance stra tegy consisting of values, principles, a good work culture and proper decision making ability of the organizations. Wood (2002) and Lagan (2006) have said that organizations need to set the business ethics with strategic objective which can provide scope for achievement of corporate governance. ... The purpose of this research is to provide a methodology by which an organization can achieve proper corporate governance required in order to reduce its financial crisis. The main objectives of this research are: To achieve transparency and fair operations within an organization. To provide proper decision making ability in order to achieve the goals of an organization. To protect the interest of the customers, the shareholders and the investors. To understand the needs and demands of the stakeholders. To prevent the occurrence of unethical behaviour within an organization. To understand the liability of the directors to the managers and the liability of the managers to the shareholders, also known as accountability. Methodology According to Joseph and Tobin (2006) research philosophy is a procedure of collecting data, analysing it and then interpreting the result in order to work on a particular research. Research philosophy mainly consists of two approaches. One is the positivist style and the other one is the phenomenological style. Positivist research model focuses on analyzing the interdependency of the external variables and internal variables. Positivist style is selected for this research, as this style deals with understanding of the internal affairs related to a business. Positivist style of research will also help to understand the reasons behind the lack of corporate governance in an organization. There are two types of research strategies, namely quantitative research methodology and qualitative research methodology. The research strategy chosen for this research is qualitative methodology. Qualitative research model is used for descriptive research. Qualitative research can be analysed in terms of culture, ethics and behaviour. Qualitative

Set of laws governing public and private security agencies Essay

Set of laws governing public and private security agencies - Essay Example The rate of fatal crimes like homicides and cold blooded murders rose to an unacceptable level for the public. On the other hand the governments around the world blamed persistent economic recession, for their inability to invest in the betterment of the security setup. This above mentioned problem gave rise to the development of privately owned security companies, which worked for the last two decades to provide adequately acceptable security, with the help of latest technology. They are also fairly successful in fulfilling their promises, which compelled the general public to trust them more often. This trend led to the higher level of acceptability of these agencies in the society. According to some famous researchers, this fashion led to cause the shift of power needed to manage the security setup from federal agencies to general public and organizations, thus resulting in the decentralization of authority among civilians (Benson, 2007), who possess the money to hire their own ar my. This phenomenon caused the sense of inequity and insecurity among those who are weak. As a consequence, the prevalence of fear increased in the community. This practice also fueled the cold war for the authority among private and public security agencies, which impacted negatively on the standards of the already decaying security setup. However, the roots of these private security providers could be found in the large scale layoffs in military, after the end of cold war. This left, many highly skilled militants out of job. Due to this reason, they formed collations with each other and started robbing the government’s military facilities in the beginning (Schreier & Caparini, 2005). Thus with the passage of time these organizations formalized their existence and structure. Another important facet of this phenomenon is the consistent collaboration, between the government and private weapons producers, through which the former entity is getting war equipment from the latter one (Avant, 2003). This trend is playing a significant role in strengthening the weapon producers in terms of influence. These non-government security organizations are also used for the following purposes The employees of privately managed security companies are often sent on the harmony preserving missions of UN, because of the fact, that most of the developed nations do not deploy their military forces on these type of missions, due to their political reasons (Schreier & Caparini, 2005) These forces are also deployed in the case of large scale calamity effecting any nation, with the mission of helping humanity (Schreier & Caparini, 2005) They can also be used in support capacity in cooperation with other federal law enforcement agencies (Schreier & Caparini, 2005) Governing Laws for Public Reinforcement Agencies The major purpose of these organizations is to protect the citizens of the country from any kind of loss, due to theft, murder, fraud and other similar activities. They a re under strict monitoring of the government, which results in highly formalized chain of command structure (Glover, 2012). Following are the laws governing formal security operations in US implicated. The police officers cannot investigate any citizen without legitimate reasons They cannot arrest anyone without permission from government officials They cannot search anyone without