Effective management of legal risks within an organization inculcates the development of succinct strategies to proactively deal with legal obligations and the associated risks. The issue of appropriate legal risk management has become an ever increasing essential component of every organization. The major aim of managing legal risks is to help businesses organizations in avoiding its operational risks turning out into legal liabilities. Legal risk management isbest utilized when its objective is to highlight, evaluate and manage legal risks that are likely to affect an organization in any given way. Failure to manage any foreseeable legal risk has the potential to affect all sectors of an organization, and this becomes the concern of every shareholder, employee, and business stakeholders in the business. It is plausible that legal risk management is crucial to any organization since it can effectively remove any uncertainties in relation to business operation ofan organization, thus avoiding legal liability later in the future. An effective legal risk management initiative should ensure that the company can avoid any costs that may arise due to any form of legal negligence during its operations.
British Petroleum (BP) Company is the world’s third largest energy company and Britain’s largest corporation (British Petroleum Company, 2009a). It was started in 1908 as a German firm. It was sold to Anglo-Persian in 1917.In 1935 the name of Persia was changed to Iran. With the Second World War the overall economic conditions in Britain were worsened which deteriorated conditions in BP too. Due to the worsened conditions in Iran and the agreement between Iran and Britain, the company’s name was changed into BP (BP, 2009a).From 1981 to 1990,Sir Peter Walter was BP’s chairman. As a part of the then Prime Minister Margaret Thatcher’s privatization strategy, in 1987 BP got fully privatized. In the late 1990s, because of main mergers with BPs competitors in the energy market Amoco, Arco and Castrol Motor oil, BP got increased momentum. Ever since that BP has grown into world’s third largest energy company and became highly successful in terms of competitive position, the financial performance the brand strength, or the speed of international expansion (British Petroleum Company, 2009b).In this report, the various marketing strategies responsible for the company’s successful performance are critically evaluated.
1.1. Background and Motivation
Family businesses play a very important role in the economic development of all countries (Urassa, 2009).The contribution of family businesses to the global GDP is reported as ranging from 70 percent to 90 percent(Family Firm Institute,2012).According to the European Commission(2009) statistics, 60 percent of the European businesses is constituted by the family businesses.
Determination of Executive Remuneration in Banks- A Discussion in the Light of the Global Financial Crisis
The executive compensation had been a debatable topic particularly in the context of the recent global financial crisis, which emerged in 2007. Studies showed the improperly structured compensation arrangements especially the bonuses and the benefits in spite of the loss of shareholder values of the financial institutions including banks, as one main factor contributing to the recent financial crisis. In this context, this essay discusses how the executive remuneration in banks needs to be done in the light of the global financial crisis (Demirer and Yuan, 2011).
Terrorism is extremely condemned as a violent and brutal activity by people. However, the war against terrorism seems to be a lost war because the vice is not viewed on a broader perspective, that is; terrorism is only viewed to be killing of civilians and as such, aspects such as ethics and morals are rarely considered. The fact that terrorism is morally wrong calls for morality in controlling the crime.
James Sallis in his 2005 novel, “Drive,” details a story about a man who is only known by the name Driver. Set in Los Angeles, Driver is a Hollywood stunt driver during the day and a criminals’ getaway driver at night. Driver follows a strict code of, “I drive. That’s what I do. All I do,” which makes him only a driver. However, after a robbery that goes wrong, Driver’s character takes a drastic turn compelling him to be a killer. In his book, Sallis portrays destiny through Drive’s life events. Driver’s acquaintances in thepast as well as his night duties gradually shift his destiny towards crime.
Basis for Marketing Research:
Q. What are the fundamentals of marketing and promotional research? Why are they essential for decision making process?
As per my view for every business market research is significant. On continual basis successful business conduct research to maintain a competitive edge and to keep up with the market trend (Kotler, 2011).The process of market research encompasses following six steps.
- Determination of objectives:
Before initiating any market research it is necessary to determine its objectives. This is the significant part of the process and will avoid effort and time in further stages. For objective determination one should keep the following three questions in mind.
What is the reason of the research?
Which type of information is required?
How the information is going to utilize?
- Design of market research:
The experts or researchers lay out a design for attaining the information regarding marketing research (Cater, & Zabkar, 2009). The second point is necessary for the market research because most of the marketers do not create formal design plan while performing research.
- Data Collection:
The appropriate data collection can be challenging and complex. It is the third step. It involves many significant decisions. First thing to be considered in this level is how the participants of research will be contacted. There was at time when questionnaires were sent topotential respondent through the postal system.
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