The International Monetary Fund And The World Bank Were

The International Monetary Fund and the World Bank were formed at the Britton Woods Conference in New Hampshire, United States, in 1944. They were designed as the mainstay of the post-war global economic order. The World Bank s focus is the provision of long-term loans to support development projects. The IMF concentrates on providing loans to stabilize countries with short-term financial crises Critics of the World Bank and IMF have argued that policies implemented by African Countries, intended to control inflation and generate foreign exchange to help pay off the IMF debts, often result in increased unemployment, poverty and economic polarization thereby impeding sustainable development. The World Bank and IMF became increasingly†¦show more content†¦In 1980, Zimbabwe after being liberated, the government vigorously invested in all sectors of the economy (health, education, mining, universal access to services but this in turn led to the government budget deficits in the mid-1980s and forced the government to look for ways to finance its excessive expenditure. Zimbabwe was then persuaded to implement ESAP. The programme was to run from year 1991 to 1995. ESAP was a package with instruments to be adhered to, and these were the components: 1. Reduction of government expenditure through privatization 2. Removing wage controls 3. Removing controls on exchange rates 4. Removing subsidies on basic goods 5. Removal of price control measures The basis of these components was to let the market control the economy and reduce government bills thereby cutting the expenditure. Although the neo liberalists favor the IMF and WB reform packages, the ESAP were to a larger extent disastrous in the different sectors of the economy ranging from people’s lives, health, education, agriculture and the macro and micro economy in Zimbabwe. According to Dhliwayo (2001), â€Å"the decision to want a major economic reform programs in Zimbabwe dates back to the beginning of the 1980s, with the main aim of attracting aid from international donors so that the country might close both the resource and trade gaps in order to meet its economic targets.† The ESAP was sought to transform Zimbabwe’sShow MoreRelatedThe International Monetary Fund And World Bank Group1644 Words   |  7 PagesThe International Monetary Fund and World Bank Group The International Monetary Fund (IMF) and the World Bank have had enormous impact upon the world’s economies since their inception, after World War II. Although each of these organizations has a similar history, their role, objectives and funding are unique. These Washington DC-based organizations have drawn more than their share fair share of criticism as well as praise. Modern nations require thoroughly understand of these organizations. TheRead MoreInternational Monetary Fund : The Imf And The World Bank1252 Words   |  6 PagesThe International Monetary Fund, otherwise known as the IMF and the World Bank are two of the most economic organizations. While they are both economic organizations, they have different objectives. In order to understand these objectives, one must know why these organizations were formed and what if anything they have accomplished. Based on said accomplishments and also based on their initial goals, one can infer which of the two has been a succe ss. Therefore, it can be said that when it comes toRead MoreInternational Monetary Fund And The World Bank1679 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreGlobalization and the Multinational Corporation: Multiple Choice Questions1378 Words   |  6 PagesInternational Financial Management, 2e (Bekaert / Hodrick) Chapter 1 Globalization and the Multinational Corporation 1.1 Multiple Choice Easy 1) Which of the following was created in an effort to promote free trade? A) World Trade Organization B) the Sarbanes-Oxley Act C) multilateral development banks D) the Organization for Economic Cooperation and Development Answer: A 2) Which one of the following is an investment from which the payoff over time is derived from the performanceRead MoreIMF : The Role Of International Institutions In Economy1045 Words   |  5 PagesRole of International Institutions in Economy: - IMF The IMF, in its 2010 published report, expects an average global growth rate of three percent. This is due to countries such as China, India and Russia. Thanks to them, the financial crisis in rich countries will not lead to a complete economic collapse, but will only slow down growth, experts say. In industrialized countries, stagnation or even recession will occur - in the best case the IMF expects zero growth. Great Britain, France and ItalyRead MoreThe Stystem Developed in the The Bretton Woods Conference862 Words   |  3 Pagesrepresentatives of two nations influenced the planning of the world monetary system (Scammell, 1982). The Article of Agreement was a negotiation between Britain and The United States, which was accepted and signed by 44 other nations (Ikenberry, 1933). The conference saw the establishment of the two most significant financial institutions, The International Bank for Reconstruction and Development [World Bank] and The International Monetary Fund (Stwenron, 1944). The conference set the standard of goldRead MoreMonetary Fund And The World Bank1554 Words   |  7 Pagesnternational Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these international financial power institutionsRead MoreRoles of International Financial Institutions1173 Words   |  5 PagesRoles of International Financial Institutions Marcus Jenkins MGT448 January 10, 2011 Paul Bogert Introduction When listening to the latest television report concerning global business news or world economics, names of financial institutions such as World Bank, International Monetary Funds, and Asian Development Bank may be the center of some discussion. A major player on the global forefront, international financial institutions function much differently from local neighborhoodRead MoreInternational Monetary Fund And The World Bank1561 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreThe Imf, Wto, And World Bank1053 Words   |  5 Pagesthe IMF, WTO, and World Bank The World Bank was founded at the Bretton Woods Conference in 1944. The bank was first known as the International Bank of Reconstruction and Development. Their founding mission was to help countries during a post-war World War II era rebuild and reconstruct. They did this by providing loans to countries who had been destroyed during wars. Their first loan was made in 1947 to France to rebuild following World War II (World Bank Group). The World Banks’s mission eventually

Theory and the Nursing Process - 942 Words

Theory and the Nursing Process Kenneth L. Harris University of Phoenix Community and Family Nursing NSG 420 June 22, 2015 Kimberly Lewis RN, MSN-Ed Theory and the Nursing Process The theoretical basis for public and community nurses began in the nineteenth century with Florence Nightingale. Nightingale believed in the prevention and surveillance of diseases. She further believed that a disease was more prevalent in poor environments. She proved that good health was more prevalent with a good environment for instance providing adequate ventilation, clean water, warmth, light, and cleanliness during the Crimean War (Allender, Rector, amp; Warner, 2014). The public and community health nurse can affect change in behavior by†¦show more content†¦The activities include physical and occupational therapy, nutrition counseling, and case management (Community Health Nursing, 2013). The two theories the Nightingale and the Knowles are an example of the integration of the nursing and education discipline to promote a health community and protect the population from illness, communicable diseases, injury, and death. The challenges are great but obtainable. The use of the survey by the community and public health nurses to identify problems and develop a plan of action. The development of education programs by employing the Knowles principles to reach out to the adult learner. The mission of community and public health nursing is related back to the work of Florence Nightingale. Her observation that good environment leads to good health and bad environment leads to bad health. References Allender, J. A., Rector, C., amp; Warner, K. D. (2014). Community and public health nursing (8 ed.). Philadelphia, PA: Wolters Kluwer, Lippincott, Williams, and Wilkins. Beagley, L. (2011, October). Educating Patients: Understanding Barriers, Learning Styles, and Teaching Techniques. Journal of PeriAnesthesia Nursing, 26, 331-337. http://dx.doi.org/10.1016/j.jopan.2011.06.002 Martin, D., amp; Yurkovich, E. (2014). â€Å"Close-Knit† Defines a Healthy Native American Indian Family. Journal of Family Nursing, 20(51-72).Show MoreRelatedThe Theory Of The Deliberative Nursing Process948 Words   |  4 PagesThis section presents an analysis of Orlando’s theory. The central thesis of the Theory of the Deliberative Nursing Process is finding out and meeting the patient’s immediate need for help. The concepts and propositions of the theory are written at a concrete level of discussion (Fawcett, Desanto-Madeya, 2013). The theory is classified as a middle-range predicative theory. The theory identifies the effects of a specific interpersonal nursing process on identification of the patient’s immediate needRead MoreTheoretical Framework in Nursing Process - Theory Development in Nursing2617 Words   |  11 PagesPocholo N. Isidro R.N. Philippine Womens University, Master of Arts in Nursing Theoretical Framework for Nursing Practice – Module 2 A. Explain/describe the 4 phases of theorizing: 1. Factor-isolating theory – This first phase of development can be further subdivided into two major activities: first is naming or labeling, second is the classifying or categorizing. The basic activity of labeling concerns itself with the recognition of an individual factor or aspect, defining what it reallyRead MoreDr. King And Her Nursing Process Theory1453 Words   |  6 PagesThis theory analysis paper is based on the work of Mrs. Imogene M. King and her Nursing Process Theory. It will show an overview of the model related to person, environment, health and nursing. The paper will also discuss the model and how it relates to the nursing practice. Finally the strengths and limitations will be discussed. Goal Attainment Theory Imogene King developed her nursing theory on the basis that the nurse and the patient, â€Å"work together to achieve the goals in the continuousRead MoreTheoretical Framework in Nursing Process - Interaction Theories1655 Words   |  7 PagesTheoretical Framework for Nursing Practice – Module 6 A. Compare and contrast two of the models or theories presented in this chapter considering their usefulness in practice, research, education and administration. For the purposes of this discussion, I have selected King’s Theory of Goal Attainment and Peplau’s Theory of Interpersonal Relations. On a broad perspective, both theories aim at explaining the interaction processes that happen between a nurse and her patient. ImogeneRead MoreTheoretical Framework in Nursing Process - Outcome Theories1356 Words   |  6 PagesTheoretical Framework for Nursing Practice – Module 7 A. Think back to the last time someone close to you became sick. Using Myra Estrin Levine’s conservation model: what would have been the focus of your assessment? How did the illness affect you and the rest of your family? Levine’s Conservation Model  is focused in promoting adaptation and maintaining wholeness using the principles of conservation. The model guides the nurse to focus on the influences and responses at the organismicRead MoreTheoretical Framework in Nursing Process - Introduction to Theory2482 Words   |  10 PagesWomens University, Master of Arts in Nursing Theoretical Framework for Nursing Practice – Module 1 A. There are defining characteristics that determine nursing practice. Based on your clinical experience, explain the meaning of the following:   1. Nursing as a practice-oriented discipline – Nursing exists to provide nursing care for clients who experience illness, as well as for those who may experience potential health problems. When we say that nursing is a practice-oriented disciplineRead MoreTheoretical Framework in Nursing Process - Elements, Approaches and Strategies of Theory Development2854 Words   |  12 PagesPocholo N. Isidro R.N. Philippine Womens University, Master of Arts in Nursing Theoretical Framework for Nursing Practice – Module 3 A. What are the 5 types of concepts and its characteristics? Give an example of each type. 1. Primitive Concepts are those that have a culturally shared meaning (Walker and Avant, 2005 as cited by Peterson and Bredow, 2009) or are those that are introduced as new in the theory (Meleis, 1997 as cited by Peterson and Bredow, 2009). For instance, in culturallyRead MoreImportance of Theory Paper1381 Words   |  6 PagesImportance of Theory Paper Laura A. Novascone Chamberlain College of Nursing Instructor Jodi Protokowicz 7/16/15 A nursing theory provides a view or window into the reality of nursing (CCN, 2015). Nursing theories are basic concepts that define nursing practice and provide the explanation to why nurses do what they do. I have given no thought to the use of nursing theory until taking this nursing class and this assignment is proving very difficult to follow. I have utilized nursing theory in my everydayRead MoreIda Orlando1017 Words   |  5 PagesNursing Theory Paper Nurs/403 March 7, 2011 Jacqueline DePaulis Nursing Theory Paper Many different nursing theories have been developed by leaders in the nursing field over the past 40 years. I chose the nurse theorist, Ida Jean Orlando because of my lack of knowledge of Ms. Orlando and her theory, The Deliberative Nursing Process. She was one of the first nursing theorists to write about the nursing process based on her own research. This theory involves interpersonal processes occurringRead MoreImportance Of Theory Of Nursing Theory1723 Words   |  7 Pages Importance of Theory Evelyne Previl Chamberlain College of Nursing Importance of Theory Nursing theory is defined as a group of concepts, philosophy, or ideas that define and guide the nursing practice. In fact, nursing practice is firmly rooted from these concepts that were at times empirical, then abstract, and inferential. Reflecting back to the time of Florence Nightingale who is the pioneer in modern nursing and nursing theory up to the corner of 21st century

Gay Parenting Controversy Essay Example For Students

Gay Parenting Controversy Essay Gay parenting is an issue that affects a great number of people worldwide. Although the number is a minority, the issue still causes heated debate. People who are in favor of Gay, Lesbian, and Bi-Sexual parenting rights claim that as long as there is a commitment to parenthood then successful parenting is achievable as a homosexual or bi-sexual. Since within a gay couple there is no chance for accidental pregnancy, the couple must make a conscious decision to become a parent. People opposed to homosexual parenting argue that homosexual couples are not capable of having long enduring strong relationships required for the successful upbringing of children. They claim it is in the childs best interest to be raised by one female and one male. Such a family would provide the best environment for healthy intellectual and emotional growth. Obviously the debate over homosexual parenting brings for concepts of individual rights and the definition of family. What the argument boils down to is the definition of a family. With family defined there is little argument over who is capable of becoming a parent. An editorial found in Pride Page, an online gay community news and information cite, offers a defense to the gay, lesbian, and bi-sexual right to parenthood. The article by Brian W. Fairbanks entitled Gay Parenting is still Parenting attempts to provide the reader with valid reasons as to why gay couples should be allowed to become parents. Fairbanks believes that the same reason a heterosexual couple should be allowed to have children is greater in homosexual couples. Heterosexual couples are given the right to child-rearing because the are seen as fit to be parents. Homosexual couples have the advantage. He points out that the only way a homosexual couple could become parents is through actively choosing to become a parent. In no way would it not be planned, unwanted, or unexpected. Fairbanks also argues, it takes love to make a family and sex is not a part of the equation. The author is clearly very level headed regarding this issue. He doesnt make outlandish remarks or accuse anyone as being the cause of the problem. He attempts to touch the readers heartstrings instead of raising anger. The evidence he presents is quite valid and believable. He brings forth one fact from the American Bar Association as well as three references to pop culture, which anyone can recognize. The author opens with reference to a quote from Jean Kerr; Now the thing about having a babyis thereafter you have it. Fairbanks argument is that this quote doesnt sink in with potential gay parents anymore than it does with many straight ones. In other words, he believes that no matter what the sexual orientation people simply dont realize all that is involved in having children. Parenting is to be taken seriously. It is hard work which necessitates selflessness, responsibility, and commitment that few peopleare always prepared to give. Here the author is trying to put homosexual couples on the same playing field as heterosexual couples. To define what it takes to be a good parent allows the reader to become subjective no matter what the point of view regarding gay parenting. I feel the method Fairbanks used was excellent in forcing myself to look at the true essence of parenting and opened the playing field for any point of view, which he was about to make. That next point would be regarding the choice of parenthood. Fairbanks claims there is one advantage homosexual couples have over heterosexual couples. There is no need for birth control or abortion and there is no fear of accidental pregnancy. .u0aafc887b35fb8d67406c91d80886f9f , .u0aafc887b35fb8d67406c91d80886f9f .postImageUrl , .u0aafc887b35fb8d67406c91d80886f9f .centered-text-area { min-height: 80px; position: relative; } .u0aafc887b35fb8d67406c91d80886f9f , .u0aafc887b35fb8d67406c91d80886f9f:hover , .u0aafc887b35fb8d67406c91d80886f9f:visited , .u0aafc887b35fb8d67406c91d80886f9f:active { border:0!important; } .u0aafc887b35fb8d67406c91d80886f9f .clearfix:after { content: ""; display: table; clear: both; } .u0aafc887b35fb8d67406c91d80886f9f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u0aafc887b35fb8d67406c91d80886f9f:active , .u0aafc887b35fb8d67406c91d80886f9f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0aafc887b35fb8d67406c91d80886f9f .centered-text-area { width: 100%; position: relative ; } .u0aafc887b35fb8d67406c91d80886f9f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0aafc887b35fb8d67406c91d80886f9f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0aafc887b35fb8d67406c91d80886f9f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u0aafc887b35fb8d67406c91d80886f9f:hover .ctaButton { background-color: #34495E!important; } .u0aafc887b35fb8d67406c91d80886f9f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0aafc887b35fb8d67406c91d80886f9f .u0aafc887b35fb8d67406c91d80886f9f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0aafc887b35fb8d67406c91d80886f9f:after { content: ""; display: block; clear: both; } READ: Moose Essay Because of this homosexual couples must make that conscious decision; the intelligent, responsible choice to become a parent. If the parent(s) are willing to give themselves to have a child then, according to Fairbanks, that would make gays just as good of a candidate for parenthood as anyone else. As long as the commitment to parenthood is there, successful parenting is wholly within the gay couples grasp. With successful parenting being defined earlier in his work Fairbanks has made a convincing argument. The author next brings to light moral ideals set by our society. He .

Management of Information Security and Control

Abstract Information is a very important ingredient of any organization. This is because no business can operate without it. In the current business environment whereby the computer has interconnected businesses and transactions are no longer carried out through paperwork, information system has become a very important part of an organization.Advertising We will write a custom research paper sample on Management of Information Security and Control specifically for you for only $16.05 $11/page Learn More Therefore the management of information should be one of the priorities if the organization is to be successful. However, the concern for information security has also risen in the recent past. In some business the need to protect information assets has even surpassed that of physical assets. This is so because any business in the current information environment that intends to be competitive and sustain growth must be ready to develop and exploit as well as protect its information assets. Information Security Needs of an organization Information security needs of an organization refer to reasons why an organization may find it necessary to have information security and control. They are as follows: To protect the functionality of the business because when operations are interrupted, costs that could otherwise have been avoided are incurred. Organizations need to have a system that ensures that operations are carried out smoothly which means there are no interruptions and work also goes according to plan. As such, the general manager and the IT managers need to design and implement an information system that cuts out intruders as well as human error that might interrupt operations (Whitman Mattord, 2008) Secondly, an organization needs to ensure that its operation applications are safe. These applications include electronic mail, operating system platforms as well as instant messaging. The laws governing information security award damages to the plaintiff and these damages are at times punitive. Therefore any organization needs to ensure that its information system cannot be used to infringe other peoples’ rights as this ends up costing the organization. This means that all information system applications need to be assessed to ensure that they do not pose a security threat to users (Whitman Mattord, 2008). Thirdly, there is the need for safeguarding technology assets in order to sustain growth. As an organization grows it needs to come up with secure software and infrastructure that helps it to sustain that growth. For instance an organization may develop innovations that help it to have an edge over its competitors.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As such, its networks must grow to be able to accommodate its changing needs otherwise the competitors will easily have access to its new technologies and use them to outdo the company. Some of the measures that can be taken to shield an organization from its competitors include protection of manufacturing procedures, chemical formulae and technological innovations (Kouns Minoli, 2010). Fourthly, there is the need to protect data that is used by organizations. An organization cannot plan effectively and deliver value to clients if it losses its record of transactions. Any business entity, government agency or any other institution that is operating in the modern business environment, where responsive services depend on information systems to provide support to transactions, must protect its data. For that data to be reliable, the management needs to ensure that the processes of collection, storage and usage cannot be interfered with. Otherwise the decisions made will not be effective or even beneficial to the organization (Kouns Minoli, 2010). Types of threats involved in the management of information security and appropriate control measures Threats refer to any entity – person or object – that poses a security risk to an organization’s assets. There are various threats that face information, systems or people of an organization. This means that the management needs to be aware of transport, processing and storage systems that need protection from threats. For instance, when an organization connects to the internet then threats that originate from the external sources are bound to increase. There are various categorizations that show the types of threats and what in the organization is faced by that threat. However, each organization needs to find out the priority threats that it needs to deal with. The prioritization will depend on the security situation of its operating environment, the exposure levels of its assets and its risk strategy (Whitman Mattord, 2008). The categories of threats include acts of human error, which refers to acts done without malicious intentio ns. People are likely to do mistakes when using information systems. This may be due to inadequate training, making of assumptions that are incorrect or even working under fatigue. Employees feature among the greatest security threats because they use organization’s data on a daily basis hence making them the closest threat agents. This means that their mistakes can undermine the integrity, availability as well as the confidentiality of data. Their mistakes can also pose a threat to the organization or to outsiders. For instance they can accidentally reveal classified information, delete or even modify data (Whitman Mattord, 2008)Advertising We will write a custom research paper sample on Management of Information Security and Control specifically for you for only $16.05 $11/page Learn More Most of the mistakes can be prevented by carrying out continuous awareness activities, training and also setting up controls. The controls can range from the requirement that a user types an important command twice to the requirement that a particular command be verified by a second party. The second category of threat is debate act of trespass. This refers to an act where an unauthorized individual intentionally gains access to an organization’s protected information. Although some information gathering techniques are acceptable, some information gatherers use techniques that are beyond the legal or ethical threshold. Some of these attacks can cost the firm financially or dent its reputation with clients. This threat can be prevented by putting up controls that notify a trespasser whenever they try to access unauthorized areas. Valuable information and systems can also be protected by using sound authentication and authorization principles. Such controls use multiple factors or layers to prevent the unauthorized users from gaining access (Alberts Dorofee, 2002). Forces of nature or acts of God are another form of threats. These types of threats are very dangerous as they usually take place with little on no warning at all. They can interfere with data storage, its transmission or even its usage. They include the following: fire, which can burn down the building that houses part or all of the information system. Secondly, there is floods which refers to water that is overflowing to areas that are expected to be dry under normal circumstances. This can end up destroying part or all of the information system. It can also prevent access to the building that houses the system. Thirdly, there is earthquake which refers to an abrupt shaking of the earth’s crust as a result of the volcanic activity below the earth surface. This directly affects the system as it can destroy part or all of the system, as well as the building where the system is housed (Vacca, 2009). Lastly, there is lightening, which refers to a sudden natural electric discharge within the atmosphere. This also has a direct effect on the sys tem as it can destroy part or all of the system or its power components. All these risks cannot be controlled per se; however they can be mitigated by purchasing insurance policies that address each of the insurance risks (Vacca, 2009) A software attack is another information security threat and it involves an individual or group coming up with a malicious code or malicious software to attack an organization’s information system. These programs are designed in such a way that they can damage the target systems or even deny access.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More They take various forms which include viruses, which are software that attach themselves on other programs and can destroy the system when activated. Viruses can be controlled by using anti-viruses which prevent them from accessing a computer system. Secondly are worms, which are able to replicate themselves several times such that they fill the computer memory. Anti-viruses can also be used to control them as they are capable of detecting them and inhibiting their performance (Vacca, 2009) Technical hardware failure is another type of threat whereby an organization purchases equipment that has a defect from a manufacturer. The defect can be known or unknown. Such flaws can result in unexpected performance of the system such as unreliable service. These can therefore lead to losses to the organization, some which are irrevocable. The best control measure is to ensure that the organization purchases from reliable vendors who can offer products with guarantees as well as quality produ cts. However, it is also important that regular check ups and service be done to the equipments so as to be able to detect defects in advance and correct them (Vacca, 2009). Risk management Before defining risk management it is important to define the key terms that make up its definition. Threat: refers to any event, object or circumstance which has the possibility and capability of adversely affecting an organization’s asset, through destruction, denial of service or unauthorized access. Vulnerability: refers to the â€Å"existence of a weakness in design or implementation or an error that can result in undesirable or unexpected event that may compromise the security of the information system† (Alberts Dorofee, 2002 p. 28). Therefore, risk management is a process whereby vulnerabilities as well as threats and potential impacts that are as result of security incidents are evaluated against safeguard implementation costs (Alberts Dorofee, 2002). Risk management strat egies are developed and implemented so as to reduce adverse impacts and to provide a framework that can be used to make consistent decisions concerning the options of risk mitigation. Risk management is broadly divided in to two phases: the first one is risk assessment which involves identifying threats and assessing the possibility and ability that the threats can exploit some vulnerability of the organization as well as the impact in the event that the threat happens. The other stage involves risk treatment; where an organization responds to the risks identified earlier. Risk management is important to the organization because it helps the management to determine the protection needed by various assets at the most efficient cost. Investment in risk management is beneficial both now and in the future and to everyone that deals with the organization (Alberts Dorofee, 2002). Risk Assessment This process has various stages which include: first identification of assets where the asset s of the organization are identified and their value is determined. Secondly, there is threat identification and assessment of threats. This involves identifying the categories of threats and the adversaries that pose the threats as well as their motives. Such threats can be terrorists who want attention, political activists fighting for some rights or disgruntled employees who feel wronged by the company. The next step in assessment of threats is determining the adversary’s capability, how frequent the threat can occur and the extent of damage it can cause on the related asset (Kouns Minoli, 2010). When documenting the adversaries it is important to consider technical and human capabilities as well as their modes of operation. These include even those parties that are able to cooperate with them as well as how easy they can communicate with them. Being that threat is the most difficult to assess, it is important that both facts and assumptions are recorded. Lastly there is the determination of vulnerability level of each of the assets that need protection. Here an in depth knowledge of the capabilities of countermeasures that an organization has is important. As a result an appropriate scale can be developed for measuring (Kouns Minoli, 2010). The third stage of risk assessment is analytical risk management. Here the threats and vulnerabilities are evaluated in regard to the respective assets so as to provide an expert opinion on the possibility of loss and the impact as guideline for action. In order to asses the risk effectively and to determine what to prioritize in asset protection one should do the following: first, estimate what level of impact the undesirable events have compared to each target asset. This involves reviewing the impacts based on the information acquired on vulnerabilities and threats. As a result the ratings can either increase or reduce (Calder, Watkins Watkins, 2010). Secondly, estimate how likely an attack can happen from the potential threats. This involves evaluating the adversary’s capabilities, his intentions and other details of their history. After this, rating is done to determine the most and least likely threat. Thirdly, estimate the probability that a given vulnerability will be taken advantage of by a given threat. Here a review is done on the vulnerability ratings that were done previously. Armed with information from all the ratings done, an overall level of risk of the information system is done. As a result suggestions of measures to be taken are made (Calder, Watkins Watkins, 2010). Risk Treatment This is the ultimate goal of risk management as information from the assessment stage is used to determine the appropriate treatment measures that will be implemented. There are various options available in treating risk. It can be reduced, avoided, accepted or even transferred. However a combination of more than one option is also possible. There are various factors that determine w hich options to pick and these include the cost incurred each time the event associated with the risk happens, the expected frequency with which it will happen, the attitude of the organization concerning risk, availability of resources and the current priorities of the organization concerning technology (Roper, 1999). When an organization chooses to reduce risk, it will have to choose whether to reduce the chances of occurring or reduce the chances of the adversary exploiting vulnerability or even reduce the effect of the threat should it successfully occur. The organization can also choose to accept the risk when reducing is not possible. This includes lack of appropriate measures to be implemented, whose costs outweigh the losses to be prevented. In cases where the risk cannot be reduced to acceptable levels it can be transferred to a third party, for instance to an insurance firm by buying a policy to protect the property against the threat (Roper, 1999). Risk avoidance is anoth er option, whereby the firm chooses to avoid all business dealings that are associated with the risk. After identifying the risk treatment decisions to use, the next step is implementing the decisions. This is later followed with monitoring and reviewing stage, which is a continuous process as long as the organization is in operation. However, risk cannot be eliminated completely and instead it can only be minimized to acceptable levels. What remains after minimization is referred to as residual risk. There are chances that the residual risk can grow to unacceptable levels and this shows another importance of monitoring and reviewing (Roper, 1999). Importance of information security and control management Research has shown that most managers as well as employees do not regard information as a primary priority particularly because it seems not to have a direct impact as effectiveness and efficiency. This calls for training to create awareness on its importance and its roles. Differe nt levels of management should be given specialized training on the relevance of information security in their level. Then the link between the training and the organization needs at each level should be established. In addition the training should be customized to focus on specific security issues (Isaca, 2010). An organization’s failures related to security can really be costly to a business. These costs can be recovery costs or even reputation costs. When an organization’s system is easily accessed by intruders, it ends up losing confidence from the public. As a result customers will be reluctant to deal with them. Therefore it is important that an organization invest in designing and development of effective information system. This calls for an organization to develop an information security policy which defines its information system as well as the access to its information property. It also explains the control measures that are appropriate for the organization. As a result the company increases its efficiency in managing its information assets (Kadam, 2002). In addition, an information system that has effective security and control measures in place can be an area of competitive advantage to an organization. This is because in such a system customers’ and suppliers’ documents will not be lost or be destroyed. Particularly because access to the system is controlled and incase part or all of the system is destroyed, back ups are available. Stakeholders are therefore attracted to such an organization as they feel that their documents will be secure. On the other hand the organization is able to plan how to better meet the stakeholders’ needs using the reliable information (Kadam, 2002). Conclusion Every organization has a need for information security and control. Therefore, when designing and implementing the information system the management must ensure that it meets those needs. An assessment of the organization shoul d be done to find out the needs and get information that will help in addressing the needs effectively. The assessment includes assessing the assets of the organization, the threats it is facing and its vulnerable areas. As a result the organization becomes equipped with adequate information that can help it come up with effective treatment decisions and in the end these decisions are implemented. In addition, the system should be monitored and evaluated continuously to ensure that the system is actually meeting the objectives which it is meant to. References Alberts, C. J. and Dorofee, A. J. (2002). Managing information security risks: the OCTAVE approach. Upper Saddle River, NJ: Pearson Education. Calder, A., Watkins, S. and Watkins, S. G. (2010). Information Security Risk Management for ISO27001/ISO27002. Cambridgeshire: IT Governance Ltd. Isaca. (2010). CISA Review Manual 2011. Rolling Meadows, IL: ISACA. Kadam, A. (2002, September). Why Information Security is important for you r organization: Network Magazine. Retrieved from http://www.networkmagazineindia.com/200209/security2.shtml Kouns, J. and Minoli, D. (2010). Information Technology Risk Management in Enterprise Environments: A Review of Industry Practices and a Practical Guide to Risk Management Teams. Hoboken, NJ: John Wiley Son. Roper, C. A., (1999). Risk management for security professionals. Burlington, MA: Butterworth-Heinemann. Vacca, J. R. (2009). Computer and information security handbook. Burlington, MA: Morgan Kaufmann. Whitman, M. and Mattord, H. J. (2008). Principles of Information Security. 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