Importance of Risk Management Free Essays

MGD426 Risk Management Overview A risk is, consequently, a hazard that can derail an organization from accomplishing a business process, project, or any activity that is vital to a company’s sustenance. There are different classifications of risks: financial, operational, infrastructure, human capital, and marketing risks. These risks embody subcategories of risks that can negatively affect the company. We will write a custom essay sample on Importance of Risk Management or any similar topic only for you Order Now Leverage, receivables, and investments are risks can hinder the financial situations of a company. The decline of profits, increased losses, and negative impact on business processes are some of the costs in the failure to control risks. Similarly, operational risk includes many losses that are associated with â€Å"internal processes, people and systems or from external events† (The Basel Committee, 2004). By continually improving operations, firms are better able to gain competitive advantage. Operational risks occur from the execution of a company’s business process. Although it is a relatively vague concept, it can be summed into a three-fold focus: processes, people, and systems. Internal fraud can be categorized into unauthorized activity, as well as theft and fraud; where as external fraud can be categorized with systems security, and theft and fraud. Importance of Assessment and Management In order for an organization to achieve certain objectives, coming across risks is almost inevitable. Organizations that are aware of such calamities are, more often than not, enabled to actively manage hazards and encompass potential opportunities for competitive advantage. This precisely means that contingency planning is important as uncontrollable risks (i. e. environmental factors) can occur at any time. While an organization cannot stop these hazards from occurring, they can mitigate the negative effects. By mitigating these risks with necessary responses, the company can aim their resources at improving or continuing their business processes. Therefore, the emphasis is, principally, on identifying and managing these hazards. Sustainable value is essential to the company and its activities; minimized uncertainty of goal achievement as well as maximized possibility of success. Competing in a dynamic environment leaves gap for uncertainty of the future. Briefly touched upon previously, this enables certain risks to not be accounted for. Risk management, as aforementioned, is a discipline that needs to be implemented by all companies. It is becoming increasingly important because of the dynamics of the environments in which an organization runs (technological, political, social, etc. ). For example, the effects of natural disasters can be mitigated but not stopped. Terrorism is a risk that cannot be calculated and accounted for prior to. All these questions and inquiries relay back to the umbrella question; why is risk management and/or risk assessment important to an organization? Risk assessment is a portion of Risk Management; it is a formulated procedure for making sure that firms are not exposed to deplorable hazards. Taking into context the previously mentioned information, it is not of much use if the scale of the risk is not measured. Once measured, the organization would rally against how likely it is and what the organization can/should/will do to mitigate its effects. Contingency planning, as mentioned, is a risk management technique that comes about based on the assessment of the risk. Building on risk assessment, a risk that is not managed correctly will cause the firm to be affected negatively. These negative effects can be financial, operational, infrastructural, related to human capital or market: classifications of risk. Moreover, risk management is only effective if the assessment is done correctly. Both go hand in hand; the magnitude of the risk determines the management procedures. Reducing the risk of accidents to the company can allow the company to better relocate its resources towards its operational needs rather than additional risk management or risk recovery. Risk Response The response to a risk is done by the concept of the 4 T’s (terminate, tolerate, treat, and transfer). By terminating risks, you are, inherently, doing things in a different manner and, thus, removing the risk. Tolerate means that nothing can be done a reasonable cost to mitigate the risk or the likelihood and impact are at a reasonable level. Moreover, treating risks is taking certain actions to control a risk by, either, mitigating the likelihood of it emerging or limiting the effect it will have on the business process/project. Lastly, transfer of risks is primarily the underlying principle behind insurance transactions. Specifically, a risk, outline in the insurance or contract, can be passed from a party who does not want the risk to another party who will take it (either for free or a premium – insurance). Financial Risk Management Financial risk management is, primarily, concerned with the economic value of an organization and the effects to it. The management aspect deals with the exposure to risk, and the response to it. Two primary risks involved in financial sectors of firms are credit risks and market risks (while others include Forex (foreign exchange), volatility, liquidity, inflation, etc. ). Since financial risk is a factor in all organizations, it is important to respond to any volatility that may occur – as it would affect the firm negatively. These risks primarily mean that a firm who is unable to appropriately manage their financial operations will be subjugated by losses. As stated previously, credit risk, which is the inability for a business partner to compensate for a loan or satisfy other monetary contract, will, obviously, damage the company. This is apparent since the company will be at a loss since the firm who adheres to a loan contract is not able to pay back the moneys. Risk assessment for this particular risk includes a â€Å"risk and control self-assessment† (RCSA). This is a set of directives, which help avoid any financial detriment because of fraud, carelessness, and/or technological malfunction. As with any other risk assessment technique, classification of whether it is low, medium, or high level risk is determined based on the estimated loss. This type of risk assessment falls under the ‘treat’ classification of risk response as a certain action is implemented in order to control/mitigate the risk. As stated, in this brief example, the importance of risk assessment and management is vital to an organization. Works Cited â€Å"Briefing Paper H: Risk Management. † Governance and Social Development Resource Centre. N. p. , n. d. Web. http://www. gsdrc. org/docs/open/CON83. pdf. â€Å"Corporate Governance Risk Management Policy. † Isle of Man Government. N. p. , n. d. Web. How to cite Importance of Risk Management, Essay examples

Farewell Essay The Boys Academy Example For Students

Farewell Essay The Boys Academy Out of these few years Ive been in Boys Academy, I learned several valuable life lessons. Ive learned how to cope; Ive learned how to show service brotherhood. Ive learned that life is about choices and if I make good choices, good things will happen, and if I make bad choices, I will be faced with bad consequences; but most importantly, I learned that my colleagues are not just my friends. They’re my brothers. They’re my supporters, and as the Boy’s Academy progressed, I developed a kinship-like relationship with these young men in my class. Through these few years, I thought I was going to be on my own in the Boy’s Academy but I realized that I had everything I needed in front of me . In these 2 Â ½ years in the Boys Academy, I experienced a lot of remarkable things. The education they give me here is top notch and extraordinary. I don’t know what I would of did if I did not join the Boy’s Academy team. Mr. Green tries harder than hard to keep this organization going. He spend his own pocket money on us making sure we have the best of the best. He’s a very strict Administrator but he loves and cares about us like we’re his own flesh and blood. We may not be perfect like so many wants us to be but we’re most definitely on point. Many boy’s in the Boy’s Academy struggle here and there, but unlike other High Schools, we’re not just faces in the crowd. The Boy’s Academy is big enough for extras, but small enough for faculties and staff to recognize who we are. Mr. Green also makes sure we’re safe and tries hard as possible to make the school and school grounds a safe environment. Mr. Green knows what’s best for me and my fellow brothers. He never tells me anything wrong and he always guide me in the right path. He continuously shares his struggles he had in high school and college with me and the rest about how he had his ups and downs. He also tells us that he does not want to see us on the street corners selling illegal drugs for a living or turn into an drug addict. He wants the best for me and everybody else. And as I leave this Academy, If I had one last thing to say, I want the 6th 7th graders to continue to succeed because later in life, you will be rewarded. And also, please set an example for the former 5th 4th graders who will be 6th 5th graders in September. The younger ones look up to you all and you would not want one of the younger students walking around with their pants low and out of uniform. If you ask me what was my experience in the Boy’s Academy, I had a phenomenal time. There’s something unique about everything we did. Our trip to Washington, D. C. Our college tours. The educational-based trips. The picnics we had. There is one thing I am going to miss about the Boy’s Academy. This Academy not only provided me with an education, but gave everything I needed and everything I wanted and one day when I am higher in life, I will like to give back.

A comparative study of Omani employees’ perception toward managers’ leadership styles and management competences in public and private sectors. The WritePass Journal

A comparative study of Omani employees’ perception toward managers’ leadership styles and management competences in public and private sectors. Introduction A comparative study of Omani employees’ perception toward managers’ leadership styles and management competences in public and private sectors. IntroductionBackground of the StudyProblem StatementResearch Question and ObjectivesBackground Literature ReviewMethodologyLimitations / Ethical ConsiderationsReferencesRelated Introduction Leaders are fast becoming recognised as the key to success for organisations across the globe and as such studies on how leaders are created and how leaders interact with others are becoming much more prevalent (Chemmers, 1997). That said, the area of leadership in the Oman context has been largely overlooked when it comes to academic study and it is here that the research is going to focus. Leaders within business are increasingly being perceived as those who are responsible for either the success or the failure of the organisation in question and therefore their role within the organisation and the perception that others have of them are likely to be critical to their actions. Leadership has both an extrinsic and an intrinsic role. Firstly, it could be argued that leadership reflects the way in which the public view the company or the perceptions that those outside of the organisation have of how the company manages its operations; secondly, leadership looks at the way in which the employees and those who work directly with the managers are inspired and encouraged to perform in a suitable manner to meet with the organisation’s goals (Chemmers, 1997). Merely defining what is meant by â€Å"leadership† and the various styles that are seen to be available for such leaders is an academic study in itself, with one of the most accepted definitions being that of Chemers (1997, p.1) who stated that leadership is seen as â€Å"a process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task†. This type of collaborative approach will form the basic underlying concept of leadership, regardless of the jurisdiction in which it is operating. Following on from this background understanding the research will then go on to look at how leadership in Oman can be developed to achieve greater commercial success with reference to the distinction between public and private sector organisations. Background of the Study Although there has been a large amount of general literature in the area of leadership and the emergent theories of leadership that have come about in recent years, there has been a small level of understanding regarding the role of leadership within the developing region of Oman. It has been suggested by Dorfman in 2004 that one of the main difficulties is that organisations in Oman are typically not very transparent with their operations and this can make it harder to identify any form of business strategy, let alone one that is rooted in the perceptions of individual employees. Taking an internal view of the way in which an organisation works is a crucial element of then looking at the role of the leader and how they can influence the performance of employees. It is argued here that one of the key issues is, in fact, that the political context of the region has a real and direct impact on the organisation and the types of leadership that are likely to be effective. Crucially, it i s also necessary to look at the cultural and political factors that are at play within Oman and not to simply assume that Arab culture will prevail. As a further point, by way of background, it is also noted by Dorfman that in Oman (as is the case in many developing regions) the public sector is often the driving force with internal practices, such as leadership development emanating from public sector agendas. Finally, it is worth noting that Oman itself is a relatively small country when looking at population, with a total of 3.5 million. On the face of it, the country has many similar characteristics with its Arab neighbours and is also subject to rapid economic growth; however, it is suggested in this paper that Oman has a unique geographical and political scope which encourages the organisations, both public and private, to outperform other countries in the same region (Haligan, 2007). There are arguably multiple factors that are likely to impact on how leadership is dealt with in Oman and these will be considered in greater detail in the thesis when comparing the approaches in the public and private sectors. These are briefly identified by Haligan in 2007 and include the political development in the region and the British influence, in particular. Issues of religion and culture are also thought to be important in the region and these are arguably factors that remain prevalent, even where there are economic changes or there are factors that may otherwise impact on the operation of the business. Problem Statement The problem statement for this research paper is to look primarily at the comparison between the public sector and private sector leadership skills, with reference to the employees’ perceptions of their leaders. Although this is a relatively specific area of study, there are potential issues that need to be looked at surrounding the study, in order to ascertain the impact that the various leadership styles have on the perceptions of employees and therefore on their ultimate behaviour. Employee behaviours are arguably linked to the leadership style, but it is also expected that other underlying factors, such as religion, culture and politics will have an impact. A comparison between public and private sectors may provide a greater understanding of these issues and the ways in which leaders can improve their own behaviours, in the future, to influence the performance of their employees. Research Question and Objectives The question here is to undertake a comparative study of the role of the managers and their leadership styles, from the point of view of employee perspectives, in both the public and private sectors in Oman with a view to presenting overall findings. In order to be able to provide a balanced response to this research question, there are several other objectives that need to be looked at, so that the answer to the research question can then provide future guidance, which can add value to those involved in corporate Oman. Firstly, there is a requirement to understand the various leadership styles that may be employed by leaders and the way in which these are likely to develop within the workplace. Factors that may impact on the choice of leadership approach will also be looked at, with reference to the corporate climate in Oman. For example, it may be thought that the political context is relevant to the leadership style and that this will then be different in the public and private sectors. Similarly, it may be argued that religion or culture plays a much greater role than whether or not the organisation is public or private sector orientated. Secondly, as well as the actual factors that influence leadership styles, the next part of the research is to look at the impact that leadership styles have on employee perceptions of the leaders themselves, or indeed the organisation. The ultimate aim of this research is for those involved in leadership to be able to understand how they can influence employee behaviours to the benefit of the organisation, in the future. With this in mind, the research question will need to be broken down, to understand the factors that are present but unchangeable and those which can be influenced, so as to create a more balanced view as to what leaders and managers can do to change the operation and the perceptions of their employees within the workplace. Background Literature Review Despite the fact that there is a large amount of literature available in terms of leadership styles, all of which will be looked at as part of the main research, the real essence of this research will be to look at leadership in the context of Oman and Omani culture. Over the years, it is argued that Omani culture and how it deals with politics, in particular, is that it has supported a participative leadership approach as being the dominant form of accepted leadership within the culture. This was the subject of the discussion in the paper of Eickleman, (1987) who found that the people of Oman, in general, operated by consultation, with leaders being largely selected based on merit, rather than on succession. This type of underlying culture is important as a means of understanding the prevailing culture and the likely employee perceptions of their leaders. Specific research in the area of Omani business has also taken place, identifying that the way in which leaders are selected by priests within the community by merit from a religions context which offers an opportunity for further analysis within the commercial context. Arguably, this type of social selection was also seen to be prevalent when Al-Ghailani researched the area, in 2005, considering how this then influences human resources practices. It was found in this research that the use of social criteria was often seen as important when it came to recruitment and promotional decisions. This was evidenced in the 2005 research by the fact that it was found that many religious leaders were petitioning the public sector to recruit family members into certain roles. He found that there were essentially two different leadership structures in operation, the first looking at merit and the notion of recruiting to fill a need and the second based on family and cultural issues. This two fol d approach suggests that leadership is unlikely to be a black and white scenario and perceptions are going to vary from person to person not just from organisation to organisation. By looking at other areas of research into leadership and therefore the employee perceptions that emerge as a result of the leadership, it can be seen that there are very distinct opinions, with those such as Farazmand, (2006) noting that this social element in fact complements leadership and improves perceptions, rather than being a detriment to the European and Western approach. A specific research paper that looked at the leadership values in Oman was undertaken by Neal et al (2005), which found that positive leaders were seen as those displaying attributes of strong charisma, being largely interactive and also having a degree of authority inherent in their attitude. This indicated that those successful leaders in Oman were not actually far remote from the Western ideals. In particular, Neal et al. found that an effective leader in Oman needed to be concerned with the personal welfare of all of the employees and that a further level of respect is given to the use of legal authority, which is seemingly logical given the high level of bureaucracy within the region. Methodology The methodology that is going to be used in the research here is inductive in nature, as it will look at the observations and actions of the various different managers, before then attempting to produce an overall theory that could ultimately apply across both private and public sector organisations. The first step of this research, therefore, is to undertake a full literature review and analysis of the leadership approaches and those factors that theoretically have a means of determining the different perceptions which are going to emerge from employees in relation to the leadership skills displayed. From this general theoretical understanding, primary research in the form of case study interviews will then be undertaken, with the author looking specifically at two organisations, one in the public sector and one in the private sector. Although it is recognised that ideally several different organisations should be looked at, it is noted that the reality is such that focusing on two organisations will allow for sufficient depth of comparison between the styles of leadership. This will then be used to produce a theory and a set of suggestions as to how the information can then be applied to establishing a set of recommendations for managers across Oman and indeed across other simi lar jurisdictions. Limitations / Ethical Considerations A key limitation which has been identified is that the case study element will only look at one organisation from the public sector and one from the private sector. It would be desirable to look at a broader range of organisations and even to undertake such research over a period of time, to ascertain how these issues change and the long term impact of culture and politics, at that point in time. There may also be concerns that the employees will not be as open as they could be, due to concerns about what their manager will think; therefore, anonymity is crucial and is something that needs to be taken to the forefront when collecting data. References Al-Ghailani, R. (2005). Equal opportunity in public office in principle and practice: An empirical study of the Omani Civil Service. Doctoral dissertation, University of Hull, Hull. Al-Hamadi, A., Budhwar, P., Shipton, H. (2007). Management of human resources in Oman. International Journal of Human Resource Management, 18(1), 100-113. London Chemers M. (1997). An integrative theory of leadership. Lawrence Erlbaum Associates, CA, Publishers. Dorfman, P., House, R. (2004). Cultural influences on organizational leadership. In R. House, P. Hanges, M. Javidan, P. Dorfman, V. Gupta (Eds.), Culture, leadership and organizations, the GLOBE study of 62 societies. Thousand Oaks, CA: Sage. Farazmand, A. (2006). Public sector reforms and transformation: Implications for development administration. In A. Huque H. Zafarullah (Eds.), International development governance. Boca Raton, FL: CRC/Taylor and Francis. Halligan, J. (2007). Leadership and the senior service from a comparative perspective. In B. Peters J. Pierre (Eds.), Handbook of public administration (pp. 63-74). London: Sage. Hofstede, G. (2001). Culture’s consequences: Comparing values, behaviors, institutions and organizations across nations. Thousand Oaks, CA: Sage. Jabbra, J., Jabbra, N. (2005). Administrative culture in the Middle East. In J. Jabbra O. Dwivedi (Eds.), Administrative culture in a global context. Whitby, ON: de Sitter. Neal, M., Finlay, J., Tansey, R. (2005). â€Å"My father knows the minister†: A comparative study of Arab women‟s attitudes towards leadership authority. Women in Management Review, 20(7/8), 478-498. Riphenburg, C. (1998). Oman: Political development in a changing world. Westport, CT: Praeger. Winckler, O. (2000). Gulf monarchies as rentier states: The nationalization policies of the labor force. In J. Kostiner (Ed.), Middle East monarchies: The challenge of modernity (pp. 237-256). London: Lynne Rienner.

Worth Of Education Essays - Middle Schooler, Personal Enlightenment

Worth Of Education Essays - Middle Schooler, Personal Enlightenment Worth of Education Scholarship Essay A few days ago, as I was eating lunch with friends, I entered a heated debate about the worth of education. "I should not have to learn algebra and calculus because it will have no influence on my life," my opponent angrily shouted as I tried to defend the usefulness of mathematics. Three days later, I still mul l over the issue, trying to arrive at the origin of the disparity of views betw een my opponent and me. I treasure every bit of knowledge I gain, in or out of school. When someone contends that a particular academic field or realm of inf ormation has no applications, I feel compelled to demonstrate the fallacy of such an argument by citing an example from my life. As a middle-schooler in Moscow, Russia, I took English for three years. Many of my peers grumbled about having to attend the course, adamant in their belief that these skills would be never used. However, some, including myself, felt that any offer of knowledge was to be accepted and stored away for possible later use. Lo and behold, three years after I signed up for my first English class, I found myself living in the United States, sending sincere thank you letters to my English teacher for supplying me with survival skills. If I had not taken my class seriously, my integration into the American society would have taken much longer. My attitude toward learning has not changed since. Striving to excel in every class I take, I regard education in all areas as relevant to my life, rather than remote. I try to link each piece of new information either to my intended field of study (Physics/Mathematics) or to personal enlightenment. Living up to my motto, "The measure of learning is its application," I prepare myself for all situations and achieve well-roundedness.

Controversial Advertising Coursework Example | Topics and Well Written Essays - 7500 words

Controversial Advertising - Coursework Example Since wary and cynical viewers are bombarded with an ever-increasing number of advertising messages, they immediately tend to put up their defences as they detect they are being sold something. Marketers must therefore rely on more subtle methods of communicating a message to their consumers. Stealth marketing attempts to catch people at their most vulnerable by identifying the weak spot in their defensive shields. Stealth marketing represents the latest in a long line of marketers' attempts to get their brands noticed in a crowded marketplace by flying below the consumers' radar. It is considered a viable alternative to conventional advertising because it is perceived as softer as and more personal than traditional advertising. Stealth-marketing attempts to present a new product or service by cleverly creating and spreading "buzz" in an obtuse or surreptitious manner. (1) Instead of aggressively shouting to everybody at the same time, stealth marketing tends to whisper occasionally to a few individuals. It loads a product or service with attractive features that make it "cool" or "in" and relies heavily on the power of word of mouth to encourage customers to feel they just "stumbled" upon the product or service them. The main objective of controversial advertising is to get the right people talking about the product or service without it appearing to be company-sponsored. ... (1) Instead of aggressively shouting to everybody at the same time, stealth marketing tends to whisper occasionally to a few individuals. It loads a product or service with attractive features that make it "cool" or "in" and relies heavily on the power of word of mouth to encourage customers to feel they just "stumbled" upon the product or service them. The main objective of controversial advertising is to get the right people talking about the product or service without it appearing to be company-sponsored. Essentially, it creates a positive word-of-mouth environment whereby selected consumers become spontaneous carriers of the message. Eventually, the message is diffused in concentric circles, from the trendsetters to mainstream consumers. The initial message can be conveyed in a variety of ways: physically (celebrities or trendsetters may be seen with the brand); verbally (people sneak the brand name in on-air or off-air conversations); virtually or virally (message is transmitted via internet chartrooms, newsgroups, or weblogs); or in any combination thereof. If consumers like the new product or service, they will be delighted to mention it to their friends and colleagues who probably know people just like themselves. By attempting to incorporate the product in the target audience's lifestyle, stealth marketing tends to present products and services by the softest sell of all. Brand managers looking to move beyond the traditional reliance on 30- second TV commercials should explore the feasibility of using controversial advertising techniques. While stealth marketing is an emerging phenomenon in the controversial advertising arena, it will become more

Memory Process Serial Position Effect Lab Report

Memory Process Serial Position Effect - Lab Report Example Atkinson & Shiffrin (1968) tried to explain the primacy serial position effect as a result of the greater attention allocated to the first and last items on a list. This improves the probability of recalling such items in long-term memory. They explained recency serial position effect as being recalled by short-term memory as last items were last viewed through the list. Rundus (1971) proved that participants devoted more rehearsal to items first in list. Welch & Burnett (1924) further proved that primacy effect was reduced and items first in list were not stored in long-term memory when participants were asked to only rehearse items while they were being presented. Glanzer & Cunitz (1966) showed that items presented at faster rates provides less rehearsal time by participants which reduced primacy effect. The recency effect was also proved to be related to short term memory by requesting participants to do something else before testing their memory of items. Both, Glanzer & Cunitz (1966) proved that the recency effect is explained by short-term memory account by introduction a distracter activity after last items on a list such as a small arithmetic question. They found that recency effect was reduced by such distractors. The following experiment investigates the serial position effect.This is accomplished by recalling of alphabet letters using a software simulation program. Hypothesis to be tested was that structural retention occurs faster than semantic and phonemic retention. Method Participants The participants in the experiment consisted of University undergraduates enrolled in a Cognitive Psychology course. Apparatus The experiment was conducted by use of computers install in Lab. Each computer ran the simulation psychology program Psyktrek 3.0. Participant used a standard mouse to enter their input in the computer. during the experiment. Procedure Participants were positioned in front of a computer which ran the simulation program Psyktrek 3.0. Once the CD was loaded on the computer, a selection of different types of experiments is displayed on the screen. The Memory Processes Serial Position option was pressed using the mouse.The program presents a page with one side of blank space and the other side with buttons representing each letter of the alphabet. Each trial consists of a sequence of six letters which are presented separately. Each letter was displayed for one second. All letters on the side become clickable once the letters are hidden. Each respondent uses his mouse to click on the letters he recognize in any order. The program waits for participants to select six letters then it stops receiving participants input. The program records the time taken to enter all choices. Participants then pressed the Next trial button to go to the next sequence of letters until six trials are conducted. After participants complete all six trials, results of correctly recognized and recalled lettes are displayed. These results include tabular and graphical presentation of the percentage of correctly recalled items together with a list of presented letters. Results Data for participant number 7 and 8 were removed due to procedural error in recalled results. Recall and Recognition: Descriptive analysis of the data shown in appendix I, reveals that the mean average of recalled letters was (9.3) with standard deviation of 4.4. This accounts to 22.4% of all letters displayed. The mean average of

Chartered Portfolio Manager- Week 8 Discussion Post and Student Essay

Chartered Portfolio Manager- Week 8 Discussion Post and Student Responses - Essay Example This is to help standardize the type and content of messages posted by financial firms on social media and to eliminate fraudulent content (Flynn, 2012). Among the rules to be followed include ensuring that there is explanation of how a firm is using social media to advertise, ensuring that there is a record of all communication on social media, and ensuring that a firm is accountable for all messages posted on social media by their employees (Bahadur et al., 2012). After highlighting the importance of social media to individuals and firms, Roland should also add the limits that should be in place to ensure safe and efficient advertising of financial firms. I agree to the rest of the post where Roland analyses the advantages and functions of FINRA to businesses and their clients but I think that he should consider adding the risks of financial advisors to firms. When Kyrette explains what social media advertising is all about, he should also consider stating the risks associated with financial advisors. In addition to this, he should also consider adding information on what FINRA stands for, and its functions in advertising when he gives advantages of social media to professionals. Although Sherard’s gives a clear discussion on who financial advisors are and their main functions in a financial firm, Sherard should consider adding the rules and regulations put in place by FINRA. After highlighting the advantages and disadvantages of financial advertisers to firms, Sherard should give an opinion whether he recommends financial advisors to firms or