Essay on Compulsory Primary Education Essay Example for Free

Essay on Compulsory Primary Education Essay In a country everybody should know how to read and write and how to count, so that everybody can help the society with a better capacity. Primary education is based mainly on reading, writing and arithmetic. This is the minimum education that one should get, specially in a poor country like India, where nothing more can be possibly done owing to paucity of funds. Advantages: The present age is the age of people. In most of the countries there are democratic form of Government. Democracy cannot be successful if the people are illiterate. Because illiterate persons cannot read the newspapers. They cannot read the political pamplets. So, they remain in dark about their countrys affairs. People should have a least the primary education for their easy conduct in the society and for the success of democracy. Why it should be made compulsory: The poor people do not send their children to school for want of money. Some children work elsewhere to supplement their family-income. The farmers children help their parents in the field. So, they cannot come to school if it is not made compulsory. but it must be free education and children should get their books and slates from the Government. Most of the parents being poor, their children should be provided with free fooding and free clothing. Conclusion: It is the duty of every Government to make the primary education free and compulsory. The Government of India should work out this scheme with all sincerity, so that all the children of the entire country will come within the scheme. People should co-operate with the Government in this campaign. Students can help their local people to work out the primary education programme. During their holidays and vacations they should open camp-schools in their own localities and teach the local children in suitable hours.

The Catcher in the Rye - J.D. Salinger as Holden Caulfield :: Catcher Rye Essays

The Catcher in the Rye - J.D. Salinger as Holden Caulfield The Catcher in the Rye, by J.D. Salinger, is home to the protagonist Holden Caulfield. There is no coincidence that he holds a striking resemblance to the author of the novel himself. Salinger seemed to have a similar childhood as Holden describes in The Catcher in the Rye. Both men also seemed to have a certain fascination with younger children, especially younger women. J.D. Salinger based one of his most famous characters, Holden Caulfield, on personal experience. Holden's story in The Catcher in the Rye begins with Holden at his school, Pencey Preparatory, which is a boarding school. He was sent there by his parents, who seemed to be withdrawn from his life. Similarly, Salinger's parents sent him to Valley Forge Military School, where he had a neighbor who always seemed to be barging in, showing a resemblance to Ackley. The reader learns that Holden is the son of wealthy parents from New York. It turns out that J.D. Salinger was also born in New York to upper-class parents. It seems as though Holden Caulfield's childhood is an identical match to that of J.D. Salinger's. Salinger had a deep love and fascination with young children, especially young women. In the 1970s, Salinger maintained a close connection with an eighteen year-old girl, Joyce Maynard, who eventually moved in with the author. J.D. Salinger continued to have many relations with younger women, much like this one. His fascination with young women is reflected in Holden, who has a similar mind-set. Even as a seventeen year-old, Holden is infatuated with his perception of Jane Gallagher as a little girl. It is this picture of innocence that Holden is in love with, and not what Jane is like now. The concept of, "the catcher in the rye," itself projects his interest in children. He day-dreams about standing at the edge of the rye field catching any children that are too close to the edge of the cliff.

Allport’s Motivation, Functional Autonomy and Study of the Individual Essay

VI. Motivation To Allport, an adequate theory of motivation must consider the notion that motives change as people mature and also that people are motivated by present drives and wants. Allport believed that most people are motivated by present drives rather than by past events and are aware of what they are doing and have some understanding of why they are doing it. A. Reactive and Proactive Theories of Motivation Adult behavior is both reactive and proactive, and an adequate theory of motivation must be able to explain both. An adequate theory of personality, Allport contended ,must allow for proactive behavior. It must view people as consciously acting on their environment in a manner that it permits growth toward psychological health. A comprehensive theory must not only include an explanation of reactive theories, but must also those proactive theories that stress change and growth. In other words, Allport argued for a psychology that, on one hand, studies behavioral patterns and general laws (the subject matter of traditional psychology) and on the other hand, growth and individuality. Allport insisted that a useful theory of personality rests on the assumption that people not only react to their environment but also shape their environment and cause it to react to them. He criticized psychoanalysis and animal-based learning theories as being reactive because they saw people as being motivated by needs to reduce tension and to react to their environment. Personality is a growing system, allowing new elements to constantly enter into and change the person. B. Functional Autonomy Allport’s most distinctive and controversial concept is his theory of functional autonomy, it is Allport’s explanation for the myriad human motives that seemingly are not accounted for by hedonistic or drive reduction principles, which holds that some (but not all) human motives are functionally independent from the original motive responsible for a particular behavior. Motives that are not functionally autonomous include those that are responsible for reflex actions, basic drives, and pathological behaviors. If a motive is functionally autonomous, it is the explanation for behavior, and one need not to look beyond it for hidden or primary causes. Functional autonomy represents a theory of changing rather than unchanging motives and is the capstone of Allport’s idea on motivation. 1. Perseverative Functional Autonomy Allport recognized two levels of functional autonomy. Perseverative functional autonomy is the tendency of certain basic behaviors to continue in the absence of reinforcement. Allport borrowed the word â€Å"perseveration† which is the tendency of an impression to leave an influence on subsequent experiences. Perseverative functional autonomy is found in animals as well as humans and is based on simple neurological principles. Addictive behaviors are examples of perseverative functional autonomy. 2. Propriate Functional Autonomy The other level is propriate functional autonomy; it is the master system of motivation that confers unity on personality, which refers to self-sustaining motives that are related to the proprium. Examples of propriate functionally autonomous behaviors include pursuing interests that one holds dear and important. 3. Criterion for Functional Autonomy Present motives are functionally autonomous to the extent that they seek new goals. That is, functionally autonomous behaviors will continue even after the motivation behind those behaviors change. 4. Processes That Are Not Functionally Autonomous Allport listed eight processes that are not functionally autonomous: (1) Biological drives, (eating, breathing and sleeping) (2) Motives directly linked to the reduction of basic drives, (3) Reflexes actions (eye blink) (4) Constitutional equipment (physique, intelligence, and temperament) (5) Habits in the process of being formed,   (6) Patterns of behavior that require primary reinforcement, (7) Sublimations that are linked to unpleasant childhood experiences, and (8) Certain neurotic or pathological symptoms. Allport suggested a criterion for differentiating between a functionally autonomous compulsion and one that is not. For example, compulsions that can be eliminated through therapy or behavior modification are not functionally autonomous, whereas those that are extremely resistant to therapy are self- sustaining and thus functionally autonomous. C. Conscious and Unconscious Motivation Although Allport emphasized conscious motivation more than any other personality theorist, he did not completely overlook the possible influence of unconscious motives. Pathological behaviors are often motivated by unconscious drives, but healthy individuals are ordinarily consciously in control of their behavior. VIII. The Study of the Individual Because psychology has historically dealt with general laws and characteristics that people have in common, Allport strongly felt that psychology should develop and use research methods that study the individual rather than groups. To balance the predominant normative or group approach, he suggested that psychologists employ methods that study the motivational and stylistic behaviors of one person. A. Morphogenic Science Allport distinguished between two scientific approaches; Traditional psychology relies on nomothetic science, which seeks general laws from a study of groups of people, and idiographic which refers to that which is peculiar to the single case or study patterns of traits within the single case, but Allport used morphogenic procedures because the term â€Å"idiographic† was so often misused, misunderstood and misspelled. Morphogenic procedures refer to patterned properties of the whole organism and allows for intraperson comparisons Allport accepted self-reports, such as diaries, at face value. B. The Diaries of Marion Taylor During the late 1930’s, Allport and his wife became acquainted with personal documents, including diaries, of a woman they called Marion Taylor. Although the Allports analyzed much of this information, they never published an account of Marion Taylor’s story. Their work with Marion Taylor probably helped them organize and publish a second case- the story of Jenny Gove Masterson, another pseudonym. C. Letters from Jenny A short time later, the Allports analyzed and published a series of letters they had received from an older women named Jenny. These letters constitute Allport’s best-known example of morphogenic science in that they reveal one person’s pattern of behavior. Two of Allport’s students, Alfred Baldwin and Jeffrey Paige, used a personal structure analysis and factor analysis, respectively, whereas Allport used a commonsense approach to discern Jenny’s personality structure as revealed by her letters. All three approaches yielded similar results, suggesting that morphogenic studies may be reliable. IX. Related Research Allport believed that a deep religious commitment was a mark of a mature person, but he also saw that many regular churchgoers did not have a mature religious orientation and were capable of deep racial and social prejudice. In other words, he saw a curvilinear relationship between church attendance and prejudice. A. The Religious Orientation Scale This insight led Allport to develop and use the Religious Orientation Scale to assess both an intrinsic orientation and an extrinsic orientation toward religion. Allport and Ross (1967) found that people with an extrinsic orientation toward religion tend to be quite prejudiced, whereas those with an intrinsic orientation tend to be low on racial and social prejudice. A review of later studies (Trimble, 1997) found that prejudice is positively related to an extrinsic religious orientation but unrelated to an intrinsic religious orientation. INTRINSIC RELIGIOUS ORIENTATION – refers to motivation arising from goals set forth by the religious tradition itself, and is assumed to have an â€Å"otherly,† nonmundane, even self- denying quality: religion is regarded as a master motive whereas other needs, strong as they may be, are regarded as of less ultimate significance. EXTRINSIC RELIGIOUS ORIENTATION – refers to a flagrantly utilitarian motivation underlying religious behaviors: the individual endorses religious beliefs and attitudes or engages in religious acts only to the extent that they might aid in achieving mundane goals such as feeling comforted and protected or acquiring social status and approval. B. Religious Orientation and Psychological Health Research by Ralph Hood (1970) and others (Hansen, Vandenberg, & Patterson, 1995; Kosek, 1999; Maltby, 1999) has found that people who score high on the Intrinsic scale of the ROS tend to have overall better personal functioning than those who score high on the Extrinsic scale. In general, these studies have found that some highly religious people have strong psychological health, whereas others suffer from a variety of psychological disorders. The principal difference between the two groups is one of intrinsic or extrinsic religious orientation; that is, people with an intrinsic orientation tend to be psychologically healthy, but those with an extrinsic orientation suffer from poor psychological health.

Gerald Ford s President Of The United States - 943 Words

Dylan Marrone Weiss Research Paper Gerald Ford What makes a great president? Being the President of the United States is one of the most difficult positions to be in. And throughout history there has been presidents who faced crisis and made society a better place, and then there were some who did not live up to their greatest opportunities. Gerald R. Ford was the 38th President of the United States of America and was considered below average in all aspects of his presidency including relations with foreign affairs, the economy and social/political cases in our country. In fact, according to scores based on Fields of History, Law and Politics, he was ranked as below average. This proves that he was not worthy compared to the levels of presidents before his time. For the case of discussing Gerald Ford, one of the most important events of his time as president is how he became one. After going into Republican politics at law school, he served in the House of Representatives for decades being re-elected twelve times. Even though he has never achieved his main goal of becoming speaker of the House, he was still supported by many, even including President Richard Nixon. In 1973, Spiro Agnew resigned the office of Vice President of the United States. When there was no Vice President left,â€Å"after pleading no contest to a change of income tax evasion, President Richard Nixon was empowered by the 25th Amendment to appoint a new Vice President† (Library 2). To explain,Show MoreRelatedEssay on The Presidency of Gerald R. Ford1081 Words   |  5 PagesThe Presidency of Gerald R. Ford Gerald R. Ford was the 38th President of the United States, after gaining the position through extraordinary circumstances. His good will and friendly demeanor helped him climb the political ladder higher than even he had anticipated. His career in politics began with his law firm, yet ended up in the oval office. While his presidency was short lived, it is remembered due to numerous crucial decisions he had to make. After graduating from Yale with a law degreeRead MoreThe Vietnam War And The Long Arms Of American History920 Words   |  4 Pagesreunify Vietnam. United State’s Cold War policy was beginning to come into play by this time. The U.S. was concerned with the domino theory, which believed that the communist overtake of North Vietnam would cause other countries in surrounding regions to adopt the ideology. In the interest of the U.S. to support South Vietnam, they back an anti-communist politician named Ngo Dinh Diem. In 1955, Diem took control of the South Vietnamese government with the support of the U. S. Later in 1955,Read MoreForrest Gump Essay1422 Words   |  6 Pageseighteen presidents with significant authority. d. George Washington served temporarily as president. e. the national government was supreme over the states. 2. The Constitution sets the length of a presidential term is set at ________ years. a. two b. four c. six d. eight e. ten 3. The presidents power to convene Congress a. allows the president to make recess appointments. b. is largely symbolic today. c. is utilized regularly by modern presidents. d. wasRead MoreThe War Of The Vietnam War1904 Words   |  8 PagesAccording to a lecture from POSC 458 - the Vietnam Wars, President Gerald R. Ford, perhaps not in any fault of his own, faced a fierce Congress who continued to reject funding the war in Vietnam. This is perhaps because of the Watergate scandal that essentially forced a president of the United States to resign the presidency for the first and thus far only time in the history of the United States. Perhaps, the United States Congress could no longer ignore the ever loud disapproval of the AmericanRead MoreThe Principles Of A Reagan Conservative, Dr. Paul Kengor1782 Words   |  8 PagesParty, but demographics within the United States have changed the relevancy of the principles. Understanding the political climate and demographics of the 1970s and 1980s in relationship to social conservatism and projecting the demographics and political climate of the 2018 mid-term election will determine the efficacy of the message of social conservatism for the current electorate. 107 lines Economically the 1970s proved to be a turbulent time for the United States. The U.S had been involved inRead MorePresident Ronald Reagan And President Reagan1351 Words   |  6 Pages Being president is a huge responsibility, and there are some who have done an excellent job. Then there are others who have made our economy, as well as our country, go down the drain. 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Who were the members of NATO? 11. NATO had what effect on the USSR? 12. The main Soviet response to containment was demonstrated by what? 13. When the Soviet Union sealed off the city of Berlin in 1948, President Harry Truman did what? 14. The National Security Act of 1947 established what? 15. The passage of the National Security Act in 1947 did what to the military? 16. As a result of Cold War military reforms, the dominant branch of the American armedRead MoreAnalysis Of The Video Lecture On America s Legal History1307 Words   |  6 Pagesin terms of America’s legal history, there has never been a situation where the judicial and legislative branches faced the president with a writ to provide evidence that could be valuable in a criminal case. In essence, this Supreme Court case tackles the political principle of â€Å"separation of powers,† which represents the foundation of the American federal system. President Nixon possessed secret audio recordings of several meetings with the top members of his administration, and a special prosecutorRead MorePardon of Richard Nixon1193 Words   |  5 Pages2014 Former President Richard Nixon is most well-known for his role in the Watergate crisis in the early 1970’s. The Watergate crisis started in June of 1972, when the Democratic National Committee (DNC) headquarters was broke into by members of Nixon’s re-election committee. The press took this breaking news and began to dig deeper into what the Whitehouse (President Nixon) was hiding. Over the next two years heavy investigations into the Watergate incident revealed that President Nixon did, in

Close Analysis of the Beginning of Chapter 2 of the Great...

The valley of ashes This close analysis is based around the passage at the beginning of chapter II of The Great Gatsby by F. Scott Fitzgerald. The word ‘Egg’ in West Egg symbolises new life and renewal, the word ‘New’ in New York also symbolises similar ideas of a young, modernistic place. This is appropriate as the valley of ashes is the geographic midpoint between the suburbs and the city, between the two yet not part of either; as it is the home of the people left behind in the Roaring Twenties. The sentence ‘the motor road hastily joins†¦ land’ suggests the Valley of ashes is is home to the sorts of people the wealthy are content to overlook. This can also be seen : ‘men swarm up’, likening people to insects, implying they are†¦show more content†¦J. Eckleburg and God exists only in George Wilson’s grief-stricken mind – in Chapter 8: ‘You may fool me, but you can’t fool God!’† The sentence ‘the passengers†¦ stare at the dismal scene for as long as half an hour’ symbolises the wealthy forced to be confronted with the consequences of their lives of luxury, while the word ‘forced’ implies these upper class people would rather not know about places like the valley of ashes and the conditions the people there have to live in, the truth being inconvenient. This ties in with the theme of the American Dream but draws attention to the reality of a downside to the hedonistic lifestyles of the rich – the Valley of Ashes is proof of this; it is a by-product of capitalism. The idea of the wealthy thinking of themselves as being superior and having dominance over others can be seen: ‘literally forced me from the car. â€Å"We’re getting off,† he insisted.’ Tom’s dominant attitude can be seen, as Nick is forced into meeting Tom’s mistress, also giving the impression Tom wants to show off ‘his girl’. This also puts the idea forward that Tom thinks of Myrtle as another possession to be shown off, again tying in with the theme of the American Dream in accumulating as many possessions as possible. This attitude Tom has towards Myrtle can also be seen: ‘leaving her at the table,Show MoreRelatedThe Disillusionment of American Dream in Great Gatsby and Tender Is the Night19485 Words   |  78 PagesThe disillusionment of American dream in the Great Gatsby and Tender is the night Chapter I Introduction F. Scott Fitzgerald is the spokesman of the Jazz Age and is also one of the greatest novelists in the 20th century. His novels mainly deal with the theme of the disillusionment of the American dream of the self-made young men in the 20th century. In this thesis, Fitzgerald’s two most important novels The Great Gatsby(2003) and Tender is the Night(2005) are analyzed. Both these two novelsRead MoreANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesï » ¿TEXT INTERPRETATION AND ANALYSIS The purpose of Text Interpretation and Analysis is a literary and linguistic commentary in which the reader explains what the text reveals under close examination. Any literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model†

Problems Associated With Autism Spectrum Disorder

Due to confidentiality concerns some identifying information has been changed to protect the identity of those involved. BD is a 6 year old male who has been diagnosed with Autism Spectrum Disorder. He is enrolled in an intensive behavioural intervention program at PS Center with an upcoming discharge scheduled in September of this year. This IBI program falls under the T*** organization and is fully funded by the Government of Ontario. Due to the age of the client his guardians make decisions regarding his care, education, program and treatment options. History: This is the first behaviourally based program that the client has received. However, BD has had prior treatment assistance from an occupational therapist, a speech language pathologist, and a family support coach. Current behaviour protocols in place are to counteract the inappropriate groin touching behaviour. The protocol is as follows: if the behaviour, groin touching, occurs during a group activity, recess, or a dyad session the behaviour is to be ignored. However, if the behaviour is presented at snack or a 1:1 session then once presented one is to issue a vocal instruction of â€Å"Hands.† Prompts are to go from least to most to assist in redirecting BD to â€Å"neutral hands†. Prompt levels, from least to most, involve: vocal with model, vocal with partial physical (touch wrists), and, if required, vocal with full physical (hand over hand). This client has not displayed any anxious, hostile orShow MoreRelatedProblems Associated With Autism Spectrum Disorde r1953 Words   |  8 PagesControversies in Treating Autism Spectrum Disorder According to the Centers for Disease Control and Prevention (CDC), 1 in 68 children are diagnosed with autism spectrum disorder (ASD) or more commonly referred to as autism yearly (â€Å"Autism Spectrum Disorder†). Autism is a complicated developmental disorder typically diagnosed during the time between infancy and age three (Autism Spectrum Disorder†) that can cause â€Å"difficulties with social interaction, [both] verbal and nonverbal communication,Read MoreTreating Autism Spectrum Disorders1025 Words   |  5 PagesAutism spectrum disorders are a class of developmental brain disorders with symptoms that range widely with each affected individual. Autism is a disorder that varies in severity of social interaction and communication that can benefit from the help of different types of treatment. Asperger syndrome, Rett syndrome, autism, pervasive development disorder, and non pervasive developmental disorder are disorders on the autism spectrum with differing levels of intensity. Treatments for autism includeRead MoreIs Autism A Developmental Disorder? Essay1619 Words   |  7 PagesExploring Autism in Children Rutgers University Atypical Adolescence and Development Professor. Stevie McKenna November 2nd, 2016 Autism Abstract Autism is a developmental disorder in which an individual has problems with communication and interaction. Autism Spectrum Disorder was adopted as a categorization in 2013 and begins in childhood and follows throughout the course of a child’s life and is actually a collection of developmental brain disorders. There isRead MoreSoar Research Paper: Theories Of Autism. Autism Is Known1454 Words   |  6 PagesTheories of Autism Autism is known as a profound neural development disorder marked by an inability to communicate and interact with others. In many families, there appears to be a pattern of autism or related disabilities, further supporting the theory that the disorder has a genetic basis. (Autism and Neurodevelopment) While no one gene has been identified as causing autism, researchers are searching for irregular segments of genetic code that children with autism may have inherited. 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Objective The objective of this study is to examine the vulnerable population of those with Autism and to examine the characteristics and attributes that make this group vulnerable. This work will identify the risk factors that contribute to potential health threats and describe how the community health nurse would assess for these potential and actual health problems. A list of formal and informal resources will be included. Finally, this work will examine howRead MoreAutism Is A Neurodevelopmental Disorder That Is Found To1103 Words   |  5 PagesAutism is a neurodevelopmental disorder that is found to be affecting more people every day. Autism spectrum disorder is a term used to hold many levels of autism under it from high functioning to non-verbal. To fall in the spectrum there is certain criterion that must be met part of which is a common set of behavioral and cognitive impairments. These behavior impairments, much of which are restrictive and repetitive along with being too focused or channeled on one thought, idea or activity. Acting

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