INSEAD Announces Opening of First Permanent North American Facility

According to their website, INSEAD will be opening the INSEAD San Francisco Hub for Business Innovation in 2020. The downtown San Francisco facility will join campuses in Europe (Fontainebleau), Asia (Singapore), and the Middle East (Abu Dhabi), ensuring INSEAD’s position as a global program. Students at INSEAD’s San Francisco program will benefit from INSEAD’s decades of working with international executives and organizations around the world. The inaugural programs will be Transition to General Management, International Directors Programme, Integrating Performance and Progress, Blue Ocean Strategy, Leading Digital Transformation and Innovation, and The Future of AI. The Hub will also hold specially designed programs for U.S. and international companies. More about the new hub INSEAD sees the Hub as more than just an educational center. It will be a place for establishing new contacts through events organized in conjunction with corporate partners, alumni, and visiting faculty. According to INSEAD Dean, Ilian Mihov, â€Å"From our origins in postwar Europe, INSEAD has distinguished itself in bringing together diverse people and perspectives to drive learning and build bridges as we develop responsible business leaders. Coming to North America opens an important new chapter in this journey. We are deeply grateful to our many alumni donors who made possible the transformation of this historic building into a state-of-the-art facility for learning and exchange.† Peter Zemsky, Dean of Innovation oversaw the development of INSEAD’s San Francisco Hub for Business Innovation. â€Å"As tech innovation goes global, business leaders everywhere need to rapidly transform their strategies and organizations. At the same time, tech leaders need to adapt to the drastically shifting expectations about the impact of their products on societies worldwide. INSEAD is uniquely placed to facilitate this learning through our global faculty and network.† More about INSEAD INSEAD has had many firsts in their 60-year history: First international business school outside the U.S.; it opened in 1959 First business school to offer a one-year MBA program First business school to offer executive education based on the needs of individual companies First business school with complete campuses on multiple continents First and only business school to have a â€Å"triple first† in rankings – MBA, Executive MBA (Tsinghua-INSEAD EMBA), and Single School Executive MBA (INSEAD GEMBA) in the Financial Times ranking in 2016. Are you thinking of applying to INSEAD’s new program? We can help! Explore our MBA Admissions Consulting Editing Services and work one-on-one with an advisor who will help you GET ACCEPTED! hbspt.cta.load(58291, '4e484144-a453-4fe0-8b1c-95aef9c90181', {}); For 25 years, Accepted has helped business school applicants gain acceptance to top programs. Our outstanding team of MBA admissions consultants features former business school admissions directors and professional writers who have guided our clients to admission at top MBA, EMBA, and other graduate business programs worldwide including Harvard, Stanford, Wharton, Booth, INSEAD, London Business School, and many more.  Want an MBA admissions expert  to help you get Accepted? Click here to get in touch! Related Resources: †¢ What’s New at INSEAD, a podcast episode †¢ What INSEAD is Looking For †¢ INSEAD MBA Essay Tips Deadlines [2019 – 2020]

The Operating System ( Os ) - 1547 Words

The operating system (OS) has two view-points it provides services to: 1. User view 2. System view User view: From user point of view operating system should be convenient and easy to use and interact with. It should be better performance vice. Following are the two, some of important services provided by the operating system that are designed for easy to use computer system. a) Program Execution: The major purpose of the operating system is to allow the user to execute programs easily. The operating system provides an environment where users can conveniently run or execute programs and as well as able to end programs. Running programs involves memory management (the allocation and de-allocation memory), device management, processor†¦show more content†¦sensors, motion detectors etc.). Almost all programs require some sort of input and produces output. This involves the use of I/O operations. The operating system hides the low level hardware communication for I/O operations from the user. User only specifies device and the operation to perform, and only see that I/O has been performed (i.e. choosing one of the printer in office for printing service). For security and efficiency, user level programs cannot control I/O operations. Therefore, the operating system must facilitate these services. System view: From a system point of view operating system should allocate resources (use system hardware) in a fair and efficient manner. This includes algorithms for CPUs scheduling and avoiding deadlocks etc. Following are two services for system hardware. a) Resource Allocation: Modern computers are capable of running multiple programs and can be used by multiple users at the same time. Resources allocation/management is the dynamic allocation and de-allocation by the operating system of (hardware) including processors, memory pages, and various types of bandwidth to the computation that compete for those resources. Operating system kernel, in which all these functions, algorithms and services reside, is in charge of taking care of resource allocation. The objective is to allocate resources so as to optimise responsiveness subject to the finite resources available.

Socio Economic Crises Of South Africa S Horticulture Sector

SOCIO-ECONOMIC CRISES IN SOUTH AFRICA’S HORTICULTURE SECTOR In this research I have gone through the effects of the â€Å"Global value chain (GVC) and Global product networks (GPNs)† on the South African economy and the horticulture labour force. So what are GVC and GPNs†¦? Global value chain is the chain of activities, which include all the major steps from producing a product to selling them in an international market and even the after sales services (Inbound logistics, operations, outbound logistics, marketing and sales and services). Whereas, Global product network is the web of the company’s production cycle in which an organization manufactures the different parts of a product in different countries of the world or may be in different†¦show more content†¦The supermarkets changed the dynamics of agrofood trade, production and employment as supermarkets focused on providing better quality products to the consumers at cheaper rates which is offcourse a good thing but due to this the suppliers put extra burden on the horticulture firms in South Africa and that burden ultimately delegated to the lowest unit of the hierarchy of the firms, i.e., the workers. Along with this I have found that Social and Economic crises in South Africa are not only the result of bad effects of Global value chain and Global Product Networks but also the result of â€Å"Apartheid†. Apartheid is a former social system, followed in South Africa, in which blacks and other racial groups did not have the same political, economical and social rights like whites and were treated differently from white people. Under apartheid the South Africa was classified into four different races, i.e., the blacks, whites, coloured and Indian/Asians. In the whole country 80% of population was of blacks, 9% of whites, 9% of coloured and 2% was of Indian/Asians. In 1994 Nelson Mandela became the president of South Africa and ended the apartheid system permanently but in my research I have observed that the racial

The Unique Role of the Mother Essay - 1550 Words

The Unique Role of the Mother The discussion about our mother always evokes strong emotions in us. And it should! After all, we lived in her womb for nine months even before we experienced the light of this world. When we try to explain to others what she means to us, or what a mother should be like or do, each of us has a different expression. Each mother is, after all, different. The unique role of the mother will be viewed through the inspection of three short stories: Boys and Girls by Alice Munro, The Boarding House by James Joyce, and I Stand Here Ironing by Tillie Olsen. The old, traditional view on the role of the mother is that of the female parent taking primary care of the children and the household. The mother is the†¦show more content†¦She looked out of place, with her bare, lumpy legs, not touched by the sun, her apron still on and damp across the stomach from the supper dishes. (529) It is overlooked that the father would also look out of place if he were inside the house during his workday, invading his wifes territory, unless it was, of course, to come in for his prepared meal at lunchtime. Through the daughters descriptions, the reader can see that the father does his imperative work outside the home, and the mothers job was not considered as being important: work done out of doors, and in my fathers service, was ritualistically important (530). It is evident within the happenings of the story that the mother is not necessarily appreciated for what she dutifully does for her family. My mother, I felt, was not to be trusted#8230;.You could not depend on her, and the real reasons for the things she said and did were not to be known (530). Yet, the narrators mother went out of her way for everyone else, neglecting herself. She would tie her hair up [in a kerchief] in the morning, saying she did not have time to do it properly, and it would stay tied up all day (5 29). She is too busy holding the never-ending task of mother hood and womanhood, carrying out her duties quietly and inconspicuously, knowing this is her job. Every mother wants the best for her child, and typically wants to ensure that her child has the life she could not,Show MoreRelatedSummary Of Girl By Jamaica Kincaid1204 Words   |  5 Pagesfind ways to satisfy society. Women have at times needed to follow particular guidelines in order to maintain standing in society. Jamaica Kincaid’s in her book â€Å"Girl† conveys a mother and daughter to represent particular social issues during post colonialism. In Girl the daughter serves as a representation of what the mother believes to be society’s ideal woman. Through the stories use of post colonialism and symbolism as well as the stories context, style, and tone, Jamaica Kincaid exemplifies theRead MoreAmerican Families At The University Of Mount Union1678 Words   |  7 Pagesand children who thrive fro m tremendous emotional support. After weeks of studying the topic of American families more in depth in and outside of the classroom, my perception has changed. I have learned the important concept that every family is a unique, diverse unit. The service-learning project provided me with the opportunity to apply many topics discussed in class, such as family structure, communication patterns, and the Symbolic Interaction Theory to a real American family. I served as a volunteerRead MoreSame Sex Parenting And Parents Essay975 Words   |  4 Pagesto class material and Family Systems Theory as well as personal and professional application in their situation. There are a number of same sex parents in society today. Same sex families are no different from other families, but there are a few unique challenges that occasionally arise. Same sex parents still have a very effective style of parenting. I can see how a child’s success still comes from the quality of the parent-child relationships. Demographics: It is difficult to attain a preciseRead More Woman Warrior Essay695 Words   |  3 Pagessubservient to men, Kingston viewed them in a different light. She sees women as being equivalent to men, both strong and courageous. In a few stark story, depressing in their own unique way, attempts to disprove the traditional Chinese saying â€Å"it’s better to have geese than girls†. The first talk-story told to Kingston by her mother deals with the suicide of one of her aunts, who remains nameless throughout the tale. After becoming pregnant from a man other than her husband, Kingston’s aunt is forced toRead MoreBreaking Down Gender Roles : Analysis905 Words   |  4 Pages Kaveen Herath HON 296 003 Fiction and the Sciences Dr. C. Mainland Breaking Down Gender Roles Schnitzler’s Frà ¤ulein Else is a first-person stream-of-consciousness narrative about Else, a nineteen year old girl living in the 1900s. By writing as a stream of consciousness, Schnitzler provides the reader with a first-person account of everything that happened, and Else’s reasons for each of her actions. Else is told by her family to ask for money from a family friend, Mr. Dorsday, and the storyRead MoreAnalysis Of Schnitzler s Fraulein Else969 Words   |  4 Pagesevident that Else is rebelling against all the gender roles imposed on her and the Bourgeois family structure at the time, and trying to take control of her own life. Else’s view of the world, and Else s view of her mother’s action both imply that she is trying to break away from the norm, and trying to be unique. There are several points thought out the story when Else heavily criticizes her mother’s actions, and behaviors. Else sees her mother as someone who is clueless about her surrounding that’sRead MoreGender Roles And Stereotypes : The Kiss By The Dunphy s, And The Pritchet Tucker s Essay1319 Words   |  6 Pagesthe Dunphy’s, and the Pritchet-Tucker’s. Each family is unique as it depicts a specific family structure (or type) seen within society at large, representing a blended discourse of gender, race and sexuality. Superficially, it appears the families do represent segments of current society, however a textual analysis of the episode, â€Å"The Kiss† revels that heteronormative ideals linked to the nuclear family structure and associative gender roles are juxtaposed upon the characters and families portrayedRead MoreAnand Smilansky : A Developmental Theorist Who Has On Children s Learning1524 Words   |  7 Pagesuse their imagination to crea te what they are imitating, this is needed to allow children’s imitation of real-life events that are realistic and possible. Smilansky’s work talked of 6 characteristics of sociodramatic play: Taking on a make-believe role, making believe with objects, making believe with regard to a situation, persistence, language used communicate the context of the play, and interacting socially while playing. Sara Smilansky had four assumptions: â€Å"high quality sociodramatic play isRead MoreAfrican American Women : An Examination Of Female Slavery1204 Words   |  5 Pagesduring slavery. Additionally, White strives to surface illustrations of unique struggles enslaved women encountered to evince the historic racism and sexism that structured womanhood in order to answer a confident and assertive â€Å"yes† to the persistent question: â€Å"Ar’n’t I a woman?† (White, 190) – White strives to prove her thesis, which states that an overdue examination of female slavery will in end long held myths and unique struggles women faced during slavery will surface. The scrutiny of recentRead MoreWomen s Role During The Pre Colonial Nigeria1310 Words   |  6 PagesWomen have played an essential role in the pre-colonial Nigeria. Chinua Achebe exemplifies this argument in his book, Things Fall Apart. Also, he emphasizes that British colonization in Nigeria has expelled women from political, economic and other cherished roles. Before the British colonization women took part in most of the aspects of life in Nigeria. Although women’s role in the pre-colonial Nigeria was not the same as the role of men, women were highly respected and valued. Without women, Nigeria

Medication Can Help Reduce Childhood Obesity Essay

There was a time when chubby children were considered cute. It was assumed that their baby fat would melt away and a healthy adult would remain. We now know that childhood obesity can be very harmful for our nations children. Not only can obesity cause health problems but also psychological problems. In recent years, policymakers and medical experts have expressed alarm about the growing problem of childhood obesity in the United States. While most agree that the issue deserves attention, consensus dissolves around how to respond to the problem. One literature review examines one approach to treating childhood obesity: medication can hopefully we can slow down the epidemic. In March†¦show more content†¦Obesity can be a devastating problem from both an individual and a social perspective. It will not inhibit a child from living a normal life, but prevents the child from a healthy and favorable future. Obesity puts children at risk for a number of medical complications, including type 2 diabetes, hypertension, sleep apnea, and orthopedic problems (Henry J. Kaiser Family Foundation, 2004, p. 1). Researchers Hoppin and Taveras (2004) have noted that obesity is often associated with psychological issues such as depression, anxiety, and binge eating. Obesity also poses serious problems for a society struggling to cope with rising health care costs. The cost of treating obesity currently to tals $117 billion per year—a price, according to the surgeon general, â€Å"second only to the cost of [treating] tobacco use† (Carmona, 2004). The number of children who suffer from obesity grows, long-term costs will only increase. While the scientific data on the concrete effects of these medications in children remain somewhat unclear, medication is not the only avenue for addressing the crisis. Both medical experts and policymakers recognize that solutions might come not only from a laboratory but also from policy, education, and advocacy. The solutions proposed by a number of advocacy groupsShow MoreRelatedThe Levels Of Childhood Obesity914 Words   |  4 PagesLevels of childhood obesity in Australia have been increasing at alarming rates since the 1970s. 1 in 4 Australian children aged 2-17 years are overweight or obese and this is expected to rise to 1 in 3 children by 2025. Being overweight places these children at a greater risk for hypertension, diabetes, heart disease, and other diseases we would ordinarily only see in adults. What’s truly eye-opening is that, for the first time in history, our children may well have significantly shorter life expectanciesRead MoreChildhood Obesity : A Major Health Issue1731 Words   |  7 Pages Abstract Childhood obesity is a major health issue nationwide and globally. This has been going on for many years and childhood obesity has increased tremendously. The main problem is the difference between calorie ingestion and calories consumed. Other influences (hereditary, developmental, and environmental) can also affect obese children. Physical, emotional, and public health issues causes pain and suffering for many children. The process of obesity growth is not completely understoodRead MoreThe Effects Of Nature On Children s Health1536 Words   |  7 Pagesto green space. However, this is not completely true. Children in both urban and rural areas can develop health issues, but one way of reducing the chances of escalating health problems from being unhealthy is to be exposed to the nature. Nature will affect the development of children s health in many beneficial ways. It is important for children to become connect with the nature during their childhood years because this is the mos t important time of their lives, (Faber Taylor Kuo, 2006). 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Professional Environment Evaluative Business Explanation

Question: Describe about the Professional Environment for Evaluative Business Explanation. Answer: Introduction: Reflective writing helps to express individuals personal experiences. Reflective writing nurtures the information, ones response towards a situation or events even any learning sessions. Here reflection has been given on two different topics such as first on a lecture named Some Issues for Ethics, Professionalism and Technology-an IT Perspective by Karl Reed and another on Team Building Activities. This report has covered four dimensions to form an appropriate reflective extraction. Description of the learning sessions along with the importance of the outcome and future purpose of this has been incorporated here to make the reflective writing justified. Reflection Topic 1: Associate professor Karl Reed has discussed some conflict and contradictory issues that often occur in IT industry making difference between the professionalism and ethical concerns. Dilemma between moral concern and practical activities can be further understood with the help of following attributes of reflective expression. What happened: The lecture has included names like Chelsea Manning and Edward Snowden with few others, who have gone against the US laws by disclosing confidential documents. The documents revealed few shocking incidents that were array with the ethical concern of the public. It is ethical for the US context to allow the government to monitor personal information if needed. However, providing information to any interested person is offensive under Australian policy. Hence, as per my understanding, fact of the matter is both professionalism and ethical issues differ in different background. One must understand whether it is right or illegal reviewing the intensity of the situation (Banks 2012). Importance of the lecture outcome: This lecture is important to me as it has mentioned the necessity of the code of ethics to accomplish the day to day activities for IT professionals. Ethical codes can restrain the professionals from doing any illegal or immoral activities (Harris Jr et al. 2013). Moreover, professional ethics can also influence the practitioners to make the effort in favor of society. I have also learned that I must put the society ahead of my personal interests or interests of my colleagues. One important factor of following ethical codes is, it comprises the principles and values that effects the decisions, taken during the emerging practices (Parrott 2014). Evaluation of the learning: There are several incidents like security breaching of the clients in Vodafone, EFTPOS (banking system) crashes, disclosure of police data etc. These incidents are result of lack of professionalism and tampering of the code of ethics by the IT professionals. Therefore, this lecture is valuable for me to assess the priority and validity of the daily activities. Furthermore, importance of honesty due diligence and transparency in terms of following the ethical issues and maintain the professionalism (Durkheim 2013). Significance of the learning in future: The learning outcome will definitely help me in future by shaping my decisions. It will allow me to think logically and make the most appropriate decision, with less ethical conflict and doubtful professionalism. Reflection Topic 2: This part of the topic assesses the importance of the team building activities for an organizational set up. The main objective of the team building activity is to promote the interpersonal communication among group members, cooperative working, proper planning and execution. Dyer and Dyer (2013), mentioned that success of a firm is critically dependent on the team production. Focus on the external issues diverted if the company has to pay lot of time to resolve internal issues like conflict among the team members (Belbin 2012). To understand the impact of the team building activity, Tower Building Activity has been chosen as the topic of the lecture. What happened: Tower building activity is one of the recognized action that is usually used in different sector to enhance the potential outcome of teamwork. It aims to reduce the squabble among the teammates, incapability of decision making of the team leader and following of the decision by other members (Drew and Coulson?Thomas 2013). Lecturer asked to make towers with the straws; task was assigned for different 3 groups having 5 members. Materials were provided during the lecture. After 30 minutes, each team was supposed to present their tower in front of the class. Each team were given the choice to select a team leader for their own team. Importance of the lecture outcome: This learning session was important to know both the advantage of disadvantage of each. Opinion of each team member was considered during the selection of team leader; it reflects the evaluation of the choice of everyone in a team. Moreover, everyone was asked to share their idea on the procedures of tower building; it means contribution of everyone is important to obtain the maximum and positive yield from a team (Cummings and Worley, 2014). During this session, strong communication among each other was required, that helped in formation of the supportive approach toward each other. This lecture helped me to learn the fact that, weakness of one team member must be suppressed by the strength of other members. Evaluation of the learning: This learning session has helped in alignment of the goals. It has also influenced me to evaluate the importance of obtaining an effective relationship with each other in a workplace. Moreover, another important point, I have learned from this lecture is that, during any crisis team members are required to find solution for that crisis unitedly. Everyone must work cooperatively and in a supportive manner. Significance of the learning in future: Tower Building Activity has influenced me to understand the appropriate behavioral approach while working in a team. It will definitely help me to make intercommunicative and supportive relation with my team members during any operational requirement. Furthermore, learning outcome will help me to give importance to the decision of other coworkers if I am supposed to take the final decision as leader. This lecture will act as pathfinder for me in future while there are requirements of teamwork. Conclusion: In this reflective writing, the main focus has been given on Some Issues for Ethics, Professionalism and Technology-an IT Perspective by Karl Reed and Team Building Activities. To assess the importance of the lecture outcomes discussion have been incorporated in various points. Future prospects have also been discussed. Hence, it can be said this reflective writing has covered all the requirement to establish the evaluative explanation of the topic. Reference list: Banks, S., 2012.Ethical issues in youth work. Routledge. Belbin, R.M., 2012.Management teams. Routledge. Cummings, T.G. and Worley, C.G., 2014.Organization development and change. Cengage learning. Drew, S. and Coulson?Thomas, C., 2013. Transformation through teamwork: the path to the new organization?.Team Performance Management: An International Journal. Durkheim, E., 2013.Professional ethics and civic morals. Routledge. Dyer, W.G. and Dyer, J.H., 2013.Team building: Proven strategies for improving team performance. John Wiley Sons. Harris Jr, C.E., Pritchard, M.S., Rabins, M.J., James, R. and Englehardt, E., 2013.Engineering ethics: Concepts and cases. Cengage Learning. Parrott, L., 2014.Values and ethics in social work practice. Learning Matters.

Business Risk and Inherent Risk Assessment

Question: Discuss about the Business Risk and Inherent Risk Assessment. Answer: Introduction Imagine a situation where a company lost about 50 percent of its capital through dubious financial investments that have not been duly confirmed and authorized. The outcome is dire. It will only take one financial reporting for the corporate world to know that something has been going wrong. How one manages a business risk determines the value that will be realized by the shareholders. The role of the board of management and other senior executives in the corporate world is assessing business risks that may hinder them from achieving the organizational objectives (Hayes et al. 2005). The case of HIH Insurance Limited clearly confirms this statement. The company did collapse because it did not engage in extensive consultations before making significant investments and also because of failure to do due diligence to determine the viability of a given investment and the associated risk. In this analysis, the discussion will discuss various business risks and inherent risks associated wit h the company failure, the prevailing legal liability and the business ethics that all people charged with top leadership should exercise. Business Risk and Inherent Risk Assessments Assessing the Business Risk of HIH Insurance Limited The business risk of HIH Insurance Ltd could be determined by looking at its business process and how decisions are made. From the company scenario, it is revealed that there is no clear decision-making process. The company did make major investments in the insurance industry by purchasing FAI Insurance, World Marines and General Insurance and Cotesworth. It did this without elaborate board members consultations. Further, the company did accept investment deals without carrying out due diligence. This possesses a very serious risk because the business was not able to identify what such moves have for the company and the long-term effect. The risk aspect was not taken seriously before making any financial decision. In simple terms, therefore, the assessment of the business risk is founded on how decisions are made (Hayes et al. 2005). Given the evidence from the company like forming the merger with Winterthur and the managing of business operations that were not open and transparent, clearly, demonstrate the business risk assessment situation for HIH Insurance Ltd. The following are the inherent risk factors affecting HIH Omission: The specific omission that amounts to the inherent risk of HIH Insurance Ltd is the authorization of the prospectus issue on the October 26th, 1998 by the Chief Executive Officer (CEO), Mr. William. The prospectus did omit some important information about the company activities which could have informed the stakeholders on the company prospectus. Fraud: This is also another inherent risk associated with the company. This is demonstrated by the case where Mr. Howard was charged with criminal misconduct. He did receive $124,000 from Mr. Brad Cooper to facilitate the payment of $737,000. Howard did authorize the payment even though it had already been discharged. This was money lost. Top management behavior: The top management also seems not to work as a team. The directors can make major decisions individually with involving the others. This is witnessed from the signing of reports by the CEO without the endorsement by the other directors. Misrepresentation: This is one of the common inherent risks in the company. The CEO used to sign statements which were not and thus misguiding the stakeholders. The director did sign misleading letters apart from signing the reports that overstated the operating profits in the period 1998/1999. The report showed $92.4 million before abnormal items and income tax. These factors if detected could have an inherent risk assessment. However, because they were committed without the notice of the other stakeholders, it is hard to stop them. This is an issue of governance and how they contribute to important matters affecting the company. The assessment of these risks will have protected the company from bad practices and mismanagement of resources. Legal Liability In Australia, the insolvency rules and other regimes high regard both the clients and the creditors during the liquidation process (ICLG, 2017). This is to say that they have a right to claim to be paid what the companies owed them during the sale proceeds. This is to say that the clients and the creditors will stand a chance of getting paid at the end. However, this depends on some factors that as raised in the case of Commissioner of Taxation v Australian Building Systems Pty Ltd (In Liquidation) [2014] FCAFC 133 8 October 2014. The defendant was liquidating while the complainant (Commissioner of Taxation) was seeking direction from the court on how the accruing taxes will be paid. From the sale of the company real estate property, it managed to get $1.2m. The plaintiff wanted to get a binding as guided by Section 254 of the Income Tax Act (1936) to have all accruing taxes paid before any other payments can be made (Meyer, 2014). The complainant wanted the liquidator to fully acco unt to the commissioner of taxes before any notice to assessment can be given. This was necessary to ensure that the Commission did get its rightful share as required by the law since the sale of the company property was a business transaction and therefore liable to paying tax. The issue in court was to determine under section 254(1) (d) of ITAA 1936 if the Commission was to be paid the full tax liable amount owed by the company before giving any priority to any creditors. The tax law requires the liquidator to be enjoined in such a case because of his or her role as a trustee. As a trustee, one serves the responsibility of making retains from business proceeds to pay the tax. Following the submissions of both parties and the application of law, the judge did issue a cautionary statement about the distribution of sale proceeds. The liquidator was required to be prudent and retain part of the proceeds to pay for some other obligations. The court also required the liquidator to retain the proceeds until the exact position of the tax liability was established. In essence, this case forms a critical background in the case regarding HIH Insurance Ltd. The case proofs that the clients and creditors can hold the liquidator liable, however, for one condition. All state obligations must be first from the capital gains. It, therefore, means that the two can be paid, if the full amount or not will depend on the balances after paying the tax (Hayes et al. 2005). The following conditions must exist for the negligence action to be held: Presence the duty to care: HIH Insurance Ltd had the duty to care both for their clients and the creditors. The company was expected to act in a reasonable manner to protect their interests. However, the company was irresponsible, and their actions were irresponsible. Breach of ones duty: Further, the company did fail to act in a reasonable manner towards its clients and creditors for not sharing with them correct information. The injury caused: The clients and creditors were injured because they were not paid for the services rendered. The existence of monetary losses: The services provided by the clients and creditors can be quantified in monetary terms. Ethics The company wanted to hire prior members of this external audit team to come and destroy the evidence of the wrongs that had been done in the company. This clearly demonstrates a failure in business ethics since there is a clear conflict of interest. The direct cannot do oversight role of themselves since they will not give factual business position (Gckler Armbrster, 2003). The following are the advantages of a company having the same firm carry out both the auditing and the consultancy services: Economies of scale: Because of the amount of work which is huge, the company can be able to bargain and get a better deal regarding cost savings. This is because costs like negotiation costs will be constant. Promoting professionalism: It is also important for the company to understand that the firm that does the auditing understands the company systems better and can give more practical recommendations (Hayes et al. 2005). This is because they have first-hand information about the business scenario and the challenges being faced. c) Circumstances provide a scenario where there no work and governance ethics. To start with, the first example gives rise to a conflict of interest (Hayes et al. 2005). This is because at one hand, the auditors are auditing company and on the other hand they play an oversight role of what they have audited. Based on the amount of money that Andersens was paid for ten years, one could be left wonder if the company got value for its money. Andersens was paid about $15 million. This figure is huge. This shows that something is wrong with the board. Further, the audit firm is only professional in audit and cannot provide other consultancy services. They only give a report to implement. d) The main subject of the report is about the independence of audit. The recommendations include: The Corporate Act to have a clause requiring the independence of auditors. In financial reports, there should always be a declaration that the independence of auditors was observed as required by the Act. The recommendations also touched on the relationship between the auditors and the clients, establish of the auditor independence board and finally, enhance audit committees to make various judgments about audit services and accruing fees (The Federal Government, 2001). Even though the recommendations are a major milestone in the corporate world, they may not have a major impact. This is because the recommendations have clearly stated what the consequences are for those partners that do not follow them. Conclusion This report has critically analyzed the concept of Business risk and inherent risk assessment with particular reference to the case of HIH Insurance Ltd. The company forms one of the major companies that have collapsed not only in Australia but globally because of the inherent risks committed by the leadership team. The inherent risks cause major shake-ups to businesses if not managed. The effects of inherent risks are dire and they affect many stakeholders including the clients and the stakeholders. These groups hold a liability case towards the liquidated company because of the pending bills. The problem of inherent risk is mainly caused by the acts of the board of governors. In general, to avoid the recurrence in the future, other recommendations alongside Ramsay Report and CLERP 9 have to be enacted. This is to send a stern warning to the perpetrators. References Gckler, J Armbrster, T 2003, Bridging uncertainty in management consulting: The mechanisms of trust and networked reputation. Organization Studies, 24(2), 269-297. Hayes, R., et al. 2005, Principles of Auditing. An Introduction to International Standards on Auditing, Prentice Hall ICLG 2017, Corporate Recovery Insolvency, June 24th, 2016, available at https://iclg.com/practice-areas/corporate-recovery-and-insolvency/corporate-recovery-and-insolvency-2016/australia Meyer, V 2014, MV's Top 5 Insolvency Cases for October 2014, November 1st, 2014. Available at https://www.meyervandenberg.com.au/property-construction/mvs-top-5-insolvency-cases-october-2014 The Federal Government, 2001, Ramsay Report recommendations into audit independence, available at https://www.johnwiley.com.au/highered/auditing/lecturer-res/current_affairs/2002-05/2002-05-2.pdf