Internet Security And The Internet - 1275 Words

Internet Security The internet is a vast labyrinth of data for users to access. The internet is vast and complex; therefore, it is essential that a user have a fundamental understanding to the power and risks associated to using it. Much like the vast expanse of outer space, much of the internet is not understood and can be scary to become lost in. Protecting the data that is available on the internet is a daunting task with nearly zero possibility of complete protection. Sensitive data is often the target of insidious hackers seeking notoriety or financial gain from stealing it. How can anyone expect to protect this data from human or machine interfaces when the security is created by a person or machine? The data is doomed from the†¦show more content†¦Regrettably, the convenience of online shopping also brings great risk to those that utilize it; however, there are a multitude of online shoppers that feel information security will self-manage given ample time (Miyazaki F ernandez, 2001). While this may seem naà ¯ve, it warrants merit as many major banking institutions will forgive debt incurred due to fraudulent activities against customers’ accounts. Specific Risks to Data on the Internet Commonly used tactics are prevalent on the internet; in fact, browser attacks have escalated exponentially towards internet users (Bugliesi, Calzavara, Focardi Khan, 2015). In fact, browser attacks looking for cookies present such grave danger that Bugliesi, Calzavara, Focardi Khan (2015) stated â€Å"modern web browsers implement native protection mechanisms based on the HttpOnly and Secure flags to shield session cookies from unintended access by scripts injected into HTML code, as well as by sniffers tapping the client–server link of an HTTP connection† (p. 509). Yet another serious risk factor to internet use is browser attacks, which are insidious brute force attacks that savvy hackers will impose; consequently, consumers will oftentimes enter a password to confirm an order and verify the intent of an order (Jing-Jang, Yi-Chan Gen-Yih, 2015). Would be hackers are staged to receive and intercept passwords that are not adequa tely protected to steal them and act as the consumer without his or her consent.Show MoreRelatedInternet Security And The Internet955 Words   |  4 PagesInternet security are such a big thing because many things are based off the internet. As in most of the storage is done off of cloud storage, so you don’t need lots of storage in your computer. Which makes internets unsafe because anyone could hack into your account and take your information. Like your bank account and your personal accounts that could really hurt you I the long run. Or someone could put a scam on a common website that most people go on. And could hack everyone’s computer that hasRead MoreInternet Security And The Internet Essay1864 Words   |  8 Pagesthat the Internet continues to spread its influence to further parts of the world. The internet gives benefits to anyone who uses the global-reaching technology. 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Internet security is the protection of information throughRead MoreInternet Security1951 Words   |  8 PagesInternet Security Many people today are familiar with the Internet and its use. A large number of its users however, are not aware of the security problems they face when using the Internet. Most users feel they are anonymous when on-line, yet in actuality they are not. There are some very easy ways to protect the user from future problems. The Internet has brought many advantages to its users but has also created some major problems. Most people believe that they are anonymous when theyRead MoreInternet Security14081 Words   |  57 Pages| IT Security Consultants, Inc. 555 East 1000 South, Salt Lake City, UtahPhone Number: (801) 555-0100 Fax: (801) 555-0110 | 2/23/2009 | | | FTD Enterprises | Request for Proposal | | Brandon Moore Justin JoosBrandon LittleMark PetersonJason Kilgore | | **This document meets a request for proposal from FTD Enterprises to implement a security infrastructure and other tasks stated in the proposal. | Table of Contents Company Overview 3 Project Team Staffing 4 ExecutiveRead MoreThe Basic Internet And Its Security1420 Words   |  6 PagesBasic Internet and Its Security What is the basic internet and how do you make it safe? Most people in the world have a computer but do not know what makes a computer a computer. Most people do not even know what device would qualify as a computer. The computer is an important part of the twenty-first century. The responsibility of computer users goes beyond internet access. The computer has basic internet and security that is needed to be followed. The internet guarantees a source of internet accessRead MoreNetwork Security And The Internet1517 Words   |  7 Pagesever since the birth of the Internet and with the new networking technology coming out, will continue this way. There is a large amount of personal, business, and government information on the internet and network infrastructures. Network security is becoming of great importance because of the attacker s ability to steal this information that can be easily acquired through different means of attacks. The internet itself along with network infrastructur es has many security risks in it. Knowing whatRead MoreInternet Security And The Security System878 Words   |  4 PagesBusiness and people are using Internet for entertainment, e-business and e-commerce, social networking, and communication to the people and business, but there have always been threats to the Internet Security. Internet security is major concern in field of technology, because there are various personal, business and government data on the Internet. Today every businesses and organizations have their own security system to reach their goal of information security. Internet security systems are created toRead MoreSecurity And Stability Of Internet1469 Words   |  6 Pagespolicy related to security and stability of internet, exchange of information in the scientific community, affordability of the Internet in the developing world, disclose of emerging issues to the general public, use and misuse of the Internet among others. Internet Software Piracy Software is the programming language and the operative system that runs a computer and allows the user to execute actions such as send and receive information through pictures, music, videos, text messages, GPS coordinatesRead MoreSecurity Of The Internet Of Things1664 Words   |  7 PagesSecurity of the Internet of Things Natxo Vijande Jim Bown School of Science, Engineering and Technology Abertay University DUNDEE, DD1 1HG, UK ABSTRACT Context The forecasts point that then number of Internet of Things devices by 2020 will be around 25 billion, which is an exponential growth compared to 5 billion devices connected at this moment, while these systems are still considered weak on security measures. The reasons why security is not strong enough rely on their poor management

Max Webers Model of Bureaucracy and the Values That...

Introduction In the opinion of Max Weber, government agencies should ideally be organized in accordance to the bureaucratic form. Indeed, in some quarters, the ideal-typical bureaucracy proposed by Weber is still regarded important to modern society. This text describes Max Webers model of bureaucracy. Also to be discussed are the values that bureaucracy jeopardizes in public administration. Max Webers Model of Bureaucracy Weber saw the traditional administrative system as being laden with defects or shortcomings. In his opinion, bureaucracy would help resolve some of these defects. An ideal typical bureaucracy for Weber as Pennington (2009) points out has a very definite organizational form which is adopted owing to its efficiency-enhancing properties. According to Pennington (2009), Webers ideal type bureaucracy is made up of ten features. I briefly examine each of these features/characteristics below. To begin with, the position or post occupied by an official should be his/her main or sole occupation. Secondly, a clear structure should provide for promotion on the basis of merit and/or seniority. Promotion in this case is however dependent on the superiors judgment. Third, the official must not appropriate his/her position as he/she is not deemed to own the office in his or her personal capacity. Next, the official should be subject to, and hence must abide by the of fices conduct and disciplinary system. Fifth, in the course of executing the dutiesShow MoreRelatedBureaucracy and the Church of God1906 Words   |  8 PagesMax Weber, German sociologist, social theorist, and economist, explicated the theory of bureaucracy in which he details the monocratic bureaucracy â€Å"as an ideal form that maximized rationality† (Bolman Deal, 2008, p. 48). He provided his most complete exposition of theory in his 1922 tome Economy and Society (Casey, 2004). This classic form of bureaucracy is characterized by the following (a) well-defined official functions; (b) specialization of function; (c) clearly defined hierarchy of offices;Read MoreThe Classical Theory of Organisation and Its Relevance4143 Words   |  17 Pagesrelations. The classical theory of organization suffers superficiality, over simplification and lack of realism in terms of problems faced by competitive organizations. Taylor and theorists of scientific management over rated scie ntific methodology as a value free integrating force that could bring about total managerial revolution. However the present forces of organizational change facing open ended competitive challenges are not prepared to accepts the principles of scientific management. OrganizationsRead MoreSolution Manual CH 1 Management A Practical Introduction 6th Edition8886 Words   |  36 Pagesmake it more collaborative. However, in 2011, they abandoned the council-based structure, saying that it actually slowed down decision-making. Now Cisco has just 3 management councils. Your Call: If the system of 48 management councils added bureaucracy and diluted managerial authority and accountability, what type of organization structure would help Cisco act quicker and more flexibly? Do you think studying management theory could help you answer this question? (Box in text on p. 41) ____Read MoreLibrary Management204752 Words   |  820 Pages/ Robert D. Stueart and Barbara B. Moran. — 7th ed. p. cm. — (Library and information science text series) Includes bibliographical references and index. ISBN 978–1–59158–408–7 (alk. paper) ISBN 978–1–59158–406–3 (pbk. : alk. paper) 1. Library administration—United States. 2. Information services— United States—Management. I. Moran, Barbara B. II. Title. Z678.S799 2007 025.1—dc22 2007007922 British Library Cataloguing in Publication Data is available. Copyright  © 2007 by Robert D. Stueart and Barbara

The Bible, The Adventures of Huckleberry Finn, and The...

The Bible, The Adventures of Huckleberry Finn, and The Epic of Gilgamesh - Are They Relevant Today? In The Epic of Gilgamesh, Gilgamesh, the hero of this epic, achieves many feats of skill, which makes him famous, but that is not the reason it is an epic. The Epic of Gilgamesh fulfills the requirements of an epic by being consistently relevant to a human society and carries immortal themes and messages. By looking at literature throughout history, one can infer the themes that are consistently passed on to other generations of humans. It is in human nature for people to want to excel in life and strive to make a name in this world for themselves. We want to be remembered by name or for something we have done. Most, who†¦show more content†¦It is in human nature to want to be recognized and receive what one think he or she may deserve. In the Bible, one of many themes is the quest for something greater than what the seeker currently has, in terms of stature or wealth. One of many examples are the theft of Esaus birthright by Jacob. In Genesis 25: 27-34, Esau Sells H is Rights as the First-Born Son, Jacob wanted more than his proper inheritance, he wanted the rights as the first-born son. His brother Esau was hungry and asked for some soup that Jacob was cooking. Jacob answered, I will give it to you if you give me your rights as the first-born son. Jacob could not be content with what he already had. He wanted a larger portion of the inheritance entitled to the one who is the first-born as well as the title. In The Epic of Gilgamesh, Gilgamesh seeks to gain more fame by attempting feats of great proportion. One of the feats is the slaying of Humbaba, the giant beast who is the keeper of a !! forest. By doing so, Gilgamesh becomes famous for killing the dreaded Humbaba, even though it does not pose any threat to people who stay out of that particular forest. ï‚ ¼Together we will accomplish a work the fame of which will never dieï‚ ¼your dream is good, your dream is excellent, the mountain which you saw is Humbaba, Now, Surely, we will seize and kill him. He does this is for fame as well as access to the cedar trees. After this

A Structural and Vocabulary Analysis of John Donnes The...

A Structural and Vocabulary Analysis of John Donnes The Flea In his poem The Flea, John Donne shows his mastery in creating a work in which the form and the vocabulary have deliberately overlapping significance. The poem can be analyzed for the prominence of threes that form layers of multiple meanings within its three stanzas. In each of the three stanzas, key words can be examined to show (through the use of the OED) how Donne brilliantly chose them because of the various connotations they had to his audience. Finally, each of the three stanzas contains completely different moods that reflect the speaker’s emotions as the situation changes. Upon knowing some of John Donne’s personal history, especially of his eventual high†¦show more content†¦According to the OED, anything that caused surprise or alarm was referred to as a flea. Another common usage for the word flea was as an adjective. Something was like a flea if it was small and contemptible. The third relevance was as a popular phrase saying that there was a flea in one’s ear. The OED definition of this saying is, stinging or mortifying reproof, rebuff, or repulse, which sends one away discomfited. It is easy to see the evolution of the word flea to the verb, to flee. The second stanza can be summed up by the word jet. Jet also has several layers of meaning. Donne writes, Though parents grudge, and you, we are met,/ And cloistered in these living walls of jet. The speaker is trying to convince a lady to have an illicit tryst with him, and this line shows that he is being sneaky and sly because they are somewhere dark and secretive. Jet literally means black and shiny, just like a flea, but according to the OED, it also represents an action. A jet is a sudden, darting movement and the speaker actually makes a jet towards the lady. It is in this stanza that he makes his most ambitious argument to the lady, and because this is obviously a sexual proposition, Donne’s clever word selection reveals why the third meaning of jet is especially relevant. Jet also has a phallic/male connotation as the root of the word jetty (an outcropping of rocks

Crushing the Native Americans Free Essays

After the Civil War, Indians inhabited almost half of the United States. White Americans were urged to move west and settle, not taking regard that Native Americans already lived there. By the late 1800s most Indians had lost their land and had been driven onto reservations. We will write a custom essay sample on Crushing the Native Americans or any similar topic only for you Order Now Eastern Indians had already been forced to the west. A number of tribes weren’t cooperative with moving onto reservations and changing their customs. This caused many battles between whites and Native Americans. During the Gold Rush of 1849, a lot of Native Americans were killed by white disease and minors burning their villages. These events were significant because they contributed to an up rise between white Americans and Indians. On November 29, 1864, Colonel John M. Chivington led an attack on the Cheyeane and Arapaho. They killed and scalped men, women, and children. I believe this was important because it showed the disregard for the tribes and how ruthless the whites were against them, but also warranted a treaty. The Fetterman massacre that took place in December 1866 was a big part of the Sioux War of 1865-1867. Red Cloud, the Sioux Chief, lured Fetterman’s army into an ambush and wiped out all of them. This took place again because of gold rush invasion and only shows the results of someone trying to take another’s homeland. http://www. indians. org/articles/native-american-indians. html The Native American Indians were forced out of their homeland, resulting in many issues and events including the Trail of Tears. Most of them eventually converted to the European way of life by dressing the same and changing their religion to Christianity. How to cite Crushing the Native Americans, Papers

Organisational Change Management Organisational Efficiency

Question: Discuss about theOrganisational Change Managementfor Organisational Efficiency. Answer: Introduction A manger can be understood as a person who is responsible for organisational task and operations. There is usually certain staff of individuals who used to report the manager for their respective activities. The management can be explained as the effective coordination and the organisation of the business activities and operations for the accomplishment of the set goals and objectives. There is vital importance of managers and effective management in achieving organisational efficiency and long-term sustainability (Mintzberg, 2004). Another vital aspect in the organisations is leadership as with the help of improved and competent leadership, the organisation can achieve high employee involvement and organisational development as the leaders influences the organisational employees to work efficiently (Yukl, 2002). There is a difference between management and leadership as the management focuses upon all the business activities and departments of the organisation whereas in leaderships the primary focus is upon the people. To achieve rapid organisational development, the managers take use of various strategies and techniques for having successful organisational change (Zaugg and Thom, 2002). When any organisational change takes place, there is increased involvement of the employees. And it is essential to have their engagement so that there cab effective implementation of organisational change and hence there can be attained improved organisational development. Use of Different Organisational Development Techniques to Lead Organisational Change When any kind of organisational change takes place, there is essential need to manage it effectively. The organisation plans for numerous strategies and approaches for managing these changes so that it may offer positive implications only. There are various strategies for managing change such as every change should initiate by setting a goal statement which is required to be attained from implementing the change in the organisation. It is also essential that, the change should be first implement at the top level sp that the subordinates as well as the grass root level employees also easily get fascinated to adapt the change (Hayes, 2014). Secondly strategy is that there must be taken feedback from the employees regarding the implementations of the change so that they can share their views and issues with the management. This feedback is required to take before the initiation of the cahnbge program. It is also a part of the strategy to explain the need, benefits and impacts of the org anisational change over the employees, so that they can remain prepare for working in a changed organisation (Anderson and Anderson, 2010). (Jurevicius, 2013) According to the McKinsey 7s model of organisational design, there are seven different aspects in this tool for analysing the organisational design of the company. The model explains the hard and the soft elements which includes 3 hard elements i.e. systems, structure and strategy and the 4 soft elements comprises of shared values, style, staff and skills. The mangers can take use of these hard and soft elements in managing the organisational changes. The hard elements can be used in a more direct manner as in the strategy; there is development of a plan for the effective implementation of the change and to attain higher competitive benefits (Hanafizadeh and Ravasan, 2011). The reason behind the models or frameworks of organisational design is for improving the organisational performance, for examining and analysing the impacts of future changes within an organisation, for having alignment of the processes and the departments at the time of acquisition or mergers and determining the best way of implementing a proposed and planned strategy. The hard elements are more concerned with the organisation and its relative success whereas the soft elements have their primary focus upon the individuals and their development and satisfaction (Bhatti, 2011). There is also vital importance of employee buy-in the organisational change process. The employee buy-in can be understand as an approach of program by which there is increased involvement and engagement of the employees in the organisation and the organisational operations. The concept of employee buy-in is very much essential in present scenario and current business operations (Kotter, 2012). When an employee buys into the organisational mission and objective, then they act as the driving forces for the accomplishment of the mission. Whereas if the employees does not buy in, then it is assumed that they are working opposite to the organisational mission which restricts the organisation in rapid attainment of the organisational goals. The employee participation and employee buy-in are recognized as the two main keys of effective change management. Therefore, it can be analysed that the employee buy-in is of high significance in an organisation for the effective implementation of the changes in an organisation (Bateh, Castaneda and Farah, 2013). There are various other OD models and frameworks which are utilized by the managers at the time of organisation changes such as Kotler 8-Step change model, as per this model, there are eight different steps under which an organisation has to work upon for having successful implementation of change. The eights phases comprises of creating a sense of urgency, building a guiding coalition, forming a strategic vision, enlisting a volunteer army, enabling actions by eradicating barriers, generating short term wins, sustaining acceleration and instituting change (Sacheva, 2009). The second OD framework highly used by the organisation is the Lewins Change management model. In this model, there are three stages i.e. Unfreeze, transition and freeze. With the help of these model, the organisations motivate employees to adapt the changes in the unfreeze stage, initiate the change in the transition stage and the change is successfully implemented in the freeze stage (Levasseur, 2001). It has bee n analysed that in almost all the models, the theorists lay down more attention to the soft elements. This is due to the fact that it is more important to manage the organisational individuals first by the means of shared values, skill development, etc so that they can adapt the organisational change and become its part rather than just focusing upon the organisational strategies, structure or systems. In any organisational change, the most vital role is of a leader as the leader is an individual which has the power to influence other individuals and develop employee engagement and effective implementation of the change by considering the needs of the employees and integrating their individual needs with organisational goals and objectives (Iles and Sutherland, 2001). Conclusion Organisational change is an inevitable part of an organisation. Every organisation is required to implement an organisational change whether at the early stage or in the long-run. From the essay it can be concluded that the organisational managers and leaders take use of various change management strategies and OD techniques for achieving g effective and successful implementation of the change management programs. There has been taken use of soft as well as hard elements for analysing the change and its impact on the organisation. Therefore, it can be analysed and conclude that, organisational change is a significant aspect which needs appropriate planning, strategies and frameworks for its implementation. References Anderson, D. and Anderson, L.A., 2010.Beyond change management: How to achieve breakthrough results through conscious change leadership. John Wiley Sons. Bateh, J., Castaneda, M.E. and Farah, J.E., 2013. Employee resistance to organizational change.International Journal of Management Information Systems (Online),17(2), p.113. Bhatti, O.K., 2011. Strategy implementation: An alternative choice of 8Ss.Annals of Management Research,1(2), pp.52-59. Hanafizadeh, P. and Ravasan, A.Z., 2011. A McKinsey 7S model-based framework for ERP readiness assessment.International Journal of Enterprise Information Systems (IJEIS),7(4), pp.23-63. Hayes, J., 2014.The theory and practice of change management. Palgrave Macmillan. Iles, V. and Sutherland, K., 2001. Organisational change.A review for health care managers, professionals and researchers. Jurevicius, O., 2013. McKinsey 7s Model. Accessed on: 2nd May, 2017. Accessed from: https://www.strategicmanagementinsight.com/tools/mckinsey-7s-model-framework.html Kotter, J., 2012. How the most innovative companies capitalize on today's rapid-fire strategic challenges-and still make their numbers.Harvard business review,90(11), pp.43-58. Levasseur, R.E., 2001. People skills: Change management toolsLewin's change model.Interfaces,31(4), pp.71-73. Mintzberg, H., 2004.Managers, not MBAs: A hard look at the soft practice of managing and management development. Berrett-Koehler Publishers. Sacheva, S., 2009. Change Management for e-Governance.I-Ways Journal of E-Government Policy and Regulation,32(2), pp.109-117. Yukl, G.A., 2002. Leadership in organizations. Zaugg, R. and Thom, N., 2002. Excellence through implicit competencies: Human resource managementorganisational developmentknowledge creation.Journal of Change Management,3(3), pp.199-211. Bibliography Anderson, D. and Anderson, L.A., 2010.Beyond change management: How to achieve breakthrough results through conscious change leadership. John Wiley Sons. Bateh, J., Castaneda, M.E. and Farah, J.E., 2013. Employee resistance to organizational change.International Journal of Management Information Systems (Online),17(2), p.113. Bhatti, O.K., 2011. Strategy implementation: An alternative choice of 8Ss.Annals of Management Research,1(2), pp.52-59. Bovey, W.H. and Hede, A., 2001. Resistance to organisational change: the role of defence mechanisms.Journal of managerial psychology,16(7), pp.534-548. Elving, W.J., 2005. The role of communication in organisational change.Corporate Communications: An International Journal,10(2), pp.129-138. Graetz, F., Rimmer, M., Lawrence, A. and Smith, A., 2006.Managing organisational change. John Wiley Sons. Hanafizadeh, P. and Ravasan, A.Z., 2011. A McKinsey 7S model-based framework for ERP readiness assessment.International Journal of Enterprise Information Systems (IJEIS),7(4), pp.23-63. Hayes, J., 2014.The theory and practice of change management. Palgrave Macmillan. Iles, V. and Sutherland, K., 2001. Organisational change.A review for health care managers, professionals and researchers. Jurevicius, O., 2013. McKinsey 7s Model. Accessed on: 2nd May, 2017. Accessed from: https://www.strategicmanagementinsight.com/tools/mckinsey-7s-model-framework.html Kotter, J., 2012. How the most innovative companies capitalize on today's rapid-fire strategic challenges-and still make their numbers.Harvard business review,90(11), pp.43-58. Levasseur, R.E., 2001. People skills: Change management toolsLewin's change model.Interfaces,31(4), pp.71-73. Mintzberg, H., 2004.Managers, not MBAs: A hard look at the soft practice of managing and management development. Berrett-Koehler Publishers. Sacheva, S., 2009. Change Management for e-Governance.I-Ways Journal of E-Government Policy and Regulation,32(2), pp.109-117. Todnem By, R., 2005. Organisational change management: A critical review.Journal of change management,5(4), pp.369-380. Vakola, M., Tsaousis, I. and Nikolaou, I., 2004. The role of emotional intelligence and personality variables on attitudes toward organisational change.Journal of managerial psychology,19(2), pp.88-110. Yukl, G.A., 2002. Leadership in organizations. Zaugg, R. and Thom, N., 2002. Excellence through implicit competencies: Human resource managementorganisational developmentknowledge creation.Journal of Change Management,3(3), pp.199-211.

Way to Mitigate Risks in Contracts-Free-Samples for Students

Question: Define Risk in Contacts. How can we mitigate risks in contracts. Recommend efficient strategies to mitigate risk in different contracts. Answer: Introduction: Contract is one of the essential tools for the project delivery system that aids to effectively manage obligations. It helps all the parties engaged in the business to reduce their effort and time significantly (Kendrick, 2015). Additionally contacts help the parties, who are indulged in business to create and amend their strategies as well as the procedures to perform the business smoothly. Using the contracts for business quantity, price and equilibrium quantity can also be chalked out by the management of the firm (Love Trowbridge, 2017). Now, when it comes to smooth operation of a business, then contracts are the cornerstone that brings in transparency and maintain the quality requirements. According to the Harrel, (2017) it is important to remember that contracts expose the firms to the unique risks, which are beyond the scope of typical control framework. Managing this risks and proper assessment of the risk is highly important in order to attain the best deals. Though there a re high amount risk is associated with the contracts, however, if it can be managed properly, then aids the firm to have higher profitability as well as better scope of income with ultimate transparency in the business (Klijn Koppenjan, 2016). There are various ways to assess the risk associated with the contract and numerous ways have been discovered to mitigate them. Simple steps or initiation can lead the contract as a tool that enlarges the business and make it more lucrative in front of the prospective customers (Wellin, 2016). This essay is meant t analyse the ways to mitigate risks in contracts at first place and then it will discuss the reason for rising those risks. Besides this, the essay will discuss efficient strategies to mitigate risk in different contracts and to conclude it will provide some recommendations to reduce the scope of risks in contracts in the business. Way to mitigate risks in contracts: Contracts are one of the most useful things that aid the business to become more competent and transparent. However, it has been seen that it possess adequate amount of risks if handled improperly. These risks can lead the joint venture or the whole operating to breakdown that makes it highly important to mitigate the risks in contracts (Liu et al., 2016). There are various ways to mitigate the risks in contracts, which are risk assessment, transferring risk, risk buffering and many others. Details regarding these risk management mechanisms are as follows: Risk assessment: In order to mitigate the risk associated with a contract, risk assessment is one of the best tools. It helps to understand the key business and legal risk associated with the parties involved in the contracts and highlights the areas that need focus. With the involvement of the stakeholders, risk assessment guide to identify the areas of high risk in the contracts and reduce the same with proper actions (Lin, 2016). Risk assessment not only includes the financial aspects, moreover, it considers the financial aspects to find out the likelihood of occurrence of the risk. Besides this, risk assessment considers various things to trace the probable occurrence of the risk in contract are as follows (El-Sayegh Mansour, 2015): Expanses and the possibility or revenue generation in case of the contracts Type of the authority (for instance, foreign subsidiaries, business units, individual firm and others) who are engaged into the contract Functional area of the party who are engaged in the contract Depending upon the number of hands the contract flows, risk assessment categories the contracts and aid the firm to reduce the scope of risk to a great extent; however, the level of benefit that a firm can gain from the risk assessment largely depends upon the factor that how well the particular brand utilize the tool. Transferring risk: Once the contractual risk assessment is done, then the next step to minimise the risk is to implement the risk transfer procedure. It aids to determine and dismembers the risk to different parties (Ahmad et al., 2016). Various indemnification clauses make the risk transferring procedure, which are as follow: Indemnification Clauses: It is a mechanism that allows shifting the probable cost of risk from one party to another. In the case of any physical or monetary loss indemnification clause allows to pay to the third part as outcome of the injury (Lobo, Newhouse Bergstrom, 2017). Using this mechanism, risk associated with the contract can be altered to the third party thus by reduces the scope of loss. Limitation of Liability: It is another beneficial strategy to reduce the risk associated with the contract because it provides a exposure cap to the contracting parties in case of any claim is made. Limitation to the liability reduces the risk exposure by 90% and thus reduces the overall risk level associated with the contract. Subrogation Waiver Clause: This is another risk mitigating clause in case of contracts that helps the firms indulged in the contract to sue the third party for the loss incurred due to the failure of the contract. Thus, by reducing the scope of uncertainty it helps to subrogation of the risk associated with the contract (Soderblom, Samuelsson Martensson, 2016). Risk buffering: Risk buffering is an effective mechanism to reduce the scope of contract risks because this simple framework aids the firm indulged in the contract to keep some buffer stock so as to make them potent for absorbing any undesired shocks (Olson Wu, 2015). Whether it is cost overrun or the lack of time and material, if the buffer stock is there, then it can aid the contract to operate smoothly; however, it is important to keep in mind that, risk buffering gives the contract price to rise and lead the project completion time to increase (Mishra et al., 2016). Whatever it is, risk buffering will certainly aid the contract to run smoothly without any scarcity and even if there is some amount of scarcity, then it would the reserve stock will absorb the same. Reducing uncertainty and bringing in organizational flexibility: Uncertainty is one of the main reasons for the rise in contractual risk and whenever there is contract, and then there will be some amount of uncertainty too. Depending upon the level of uncertainty, the burden of the risk can be shared among the parities indulged in the contract (Grote, 2015). Thus, if the uncertainty of the contracts can be reduced, then it would mitigate the risk associated with the contract too. One of the best ways to reduce the uncertainty associated with the contract is to enhance the organisational flexibility and bring in the risk control mechanism (Kerzner Kerzner, 2017). Professional tools: Till now most of the ideas that can be used to mitigate the risk in contract are theoretical, however, in order to utilise them in practical, there are professional tools or software that do the task. These tools are programmed in such a way that it can address the central issue of the contractual risk and focus on the factors to negotiate on the management process in order to enhance transparency (Yildiz et al., 2014). Professional tools are beneficial to reduce the communicational gap among the parties indulged in the contract and open up the path to enhance the linkage among the external stakeholders as well as the third parties. The process of contract negotiation become inherently collaborative with the use of the professional tools and it not only gives enough amount of transparency, moreover aids the firm to chalk out their incurred cost, profitability and liabilities. Back and forth exchanges in case of the contracts get largely reduced by utilizing professional tools and thu s it reduces the scope of miss approvals (Neale, Weir McGee, 2016). On the other hand it keep limelight on the five stages of the contract life cycle, thus providing enough scope to mature the contract and prove it to be fruitful for all the parties indulged in the contract. Risks in contract: Contracts are one of the essential tools for the growth of every business irrespective of their variety. Contracts aid the firm from introducing new subsidiary firm to establishing partnership and in addition, it guides the firms to secure licenses to enhance their business around the various places beyond their place of origin (Edsparr Fisher, 2014). However, it is true that contracts are highly associated with the risks and it can bring the firm to the shutdown point leading to complete loss of all the effort. On the other hand, if the contracts can be managed properly, then it would provide great amount of protection from the risk and liability. Depending upon the contract type, risk burden varies widely and the share of the burden falls relying on the amount of uncertainty the respective parties are facing. For instance, there are three broad categories of contract, which are namely Fixed-Price contract (FP), secondly Time and Material (TM) contracts and lastly Cost Reimbursable (CR) or Cost Plus (CP) contracts (Jorgensen, Mohagheghi Grimstad, 2017). Now, in the case of FP contracts, seller has highest amount of uncertainty in the amount of profit making due to the fact that seller does not know how much profit he or she can earn at the beginning. On the other hand buyer has full information about the payout that reduces the amount of uncertainty that the party is going to have. Thus, the risk in contract in the case of FP contracts shifts from buyer to the seller (Biais, Heider Hoerova, 2016). According to the same source, when it comes to the CP contracts, then the buyer do not have idea regarding the amount of payout during the time of contract and this enhances the level of liability to the exorbitant level. On the other hand, seller has proper information regarding the payout for the contract that reduces the uncertainty level. Thus, the burden of risk in the FP contract lies over the buyer with a higher magnitude compared to the seller. TM is the mediating form of contract that sets between the previously mentioned contrac ts varieties. According to the Shokoohyar Katok, (2017) level of uncertainty remains same for both the parties and the risk of this type of contract is divided between both the parties. During the initiation of the project none of the party has proper information regarding the cost of the project. In the case of buyer he doesnt have any idea about the material cost and on the other hand the supplier does not have idea regarding the labour cost. Thus the risk of this type of contract is shared both by both the parties. Well, though there are risks in case of the contracts, however, it can be reduced to a great extent using the proper mechanism. Moving forward, this essay will highlight various efficient strategy recommendations to mitigate the risk related to the contracts. Recommendation of efficient strategies to mitigate risk in different contracts: Contracts are efficient tool that can lead a business or collaboration to the zenith of success; however, if it is mishandled, then it can come down as the bane on the whole project. Thus, whenever parties are engaging themselves in the contract, then it is highly important to follow some basic rules, in order to reduce the scope of risks in contract. Some of the recommendations for this purpose are as followed: Fundamental of managing risks in contract lies in the in-depth knowledge about the contract. Thus, the first and foremost thing in order to reduce the risk in contract is to properly know the clauses and proper understanding regarding the same and then indulging into the contract. Secondly, it has often been seen that firms, irrespective of the size and magnitude of business are indulged into the variety of contracts with different parties. Over the time they forget to review them and this gives the stimuli in to the risk in contract. Thus it is highly important to review the contracts in a periodical manner in order to reduce the scope of contracts. Proper assessment of the suppliers and measuring the value addition of the contracts are subject to periodical reviewing. Thus it would be better for the firm to perform survey and organise interviews with the parties indulged into the contract in order to mitigate the scope of risks in contracts. Contracts are considered as one of the influential tool for pricing strategy of the firms. Thus proper monitoring of the pricing adjustment and amend the same in order to stick with the contract is essential for mitigating the risk associated with the contracts. It would be better for the firms to bring in risk control mechanism so that in case of any unwanted fluctuation in the contract couldnt hamper the flow of operation. Using tools like early warning system and risk control mechanism, firms can avoid the scope of risk appearance in case of the contract. Surveying and risk assessment frameworks are cost worthy, however, they need huge amount of investment too during the initial stages. Thus it would be better for the firms to allocate necessary amount of fund in order t reduce the scope of cost overrun. Conclusion: The essay has analyzed the risks in contracts and it has tried to find out how the risks related to the contract can be minimized. The analysis has found that there are various reasons that can give rise in the contractual risks. Among many, one of the main reasons for the rise of contractual risk is lack of transparency in the contracts. The report has found that, lack of transparency in the contract can lead to bad planning as well as result in complicated pricing strategy. These things ultimately cause overrunning costs, miscommunication among the parties indulged in the contract and lead to loss of revenue. Besides this, the report has found that, lack of timely reviewing of the contracts makes the contract a financial burden for most of the firm. The report has found that contracts act as the financial burden to the small firms compared to the large firms due to the fact that they are in their growth stage. Moving forward, it can be said that the essay has provided various ways to mitigate the risks in contract. As an effective mechanism to reduce the scope of risk in the case of contract, is to adhere with the risk management guidelines. Besides this, it has also been found that timely reviewing and proper knowledge about the contract can be proved to be beneficial for the firms to reduce the scope of risk in the contract. In addition, risk transfer is another effective mechanism to reduce the scope of risks in contracts. The essay has provided some effective recommendations, if implied these can lead to a transparent contract, which is associated with minimal amount of risk. To conclude, it can be said that contracts are effective and essential tool for every business; thus, if they can be used properly, it can help the business to reach the zenith of success and act as the buffer for any supply or demand side shock. 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