Freezers Essay Example | Topics and Well Written Essays - 3000 words

Freezers - Essay Example Thus investing in the production of freezers seems to be profitable. However, investing decision needs to be taken with due care. For making a business profitable, the most important thing is to make a right decision about the location of the firm. If a person wants to set up a new business or to expand his/her existing business, it is very important to conduct a rigorous analysis of economic, political, social and technological environments of various areas before selecting any particular area for locating his or her firm. The person should choose the best suitable area for setting up his/her business. This paper analyses the potential of three developing regions for setting up a business of freezers. These three areas are Egypt, Turkey and Dubai. This paper will attempt to analyze economic, political, social and technological conditions of these three regions and find out which out of these three will be best suited for setting up the business. But before moving into an in-depth an alysis of the issue under consideration, it is necessary to provide a brief overview of the business organization that wants to invest in one of these three regions. The business organization is based at New Jersey, USA. It is a freeze manufacturing company and is quite new in this business. It was established only in 2004. Presently it is quite small in its size and belongs to the SME (Small and medium enterprise) sector of the United States. Although it is small in size at present, it has a number of investment plans in order to expand its business in near future. It is a profitable firm and purely concentrates on providing high quality products at reasonable prices. Although it started as a very small firm, its production level has been increasing quite rapidly given the increasing demand for its products. Looking at its growth in the US market, it is hoping that it would be also successful in other countries as well. But, instead of adopting a strategy

Risk Measurement Technique Essay Example | Topics and Well Written Essays - 750 words

Risk Measurement Technique - Essay Example Risk Management is a separate discipline that looks into all the possible aspects and reasons which could count as a risk in a particular background. The aim of risk management is to preempt any incident that might take place, and it focuses on the principle of prevention rather than correction. Risks are of different types, there could be risks towards the financial side of an organization, or the data contained by the department, or the risk of loss of experts and personnel due to various reasons (Hopkin,2012). Risk management techniques focus on a couple of simple and basic questions which pertain to the identification of source of risk. Once the source is determined, their impacts are evaluated, in case of extremely busy lines as is the case in few industries, prioritization is performed, and after that the probable solutions are devised. Various techniques are being used in the field of risk management, however the first and foremost step towards risks mitigation is its identification; it is a normally being said that solution to the problem lies in identifying the problem first.( Ziegler, pg 255, 2005) The same mechanism follows in the case of risk. A proper risk management approach should be adopted. Internationally and professionally there are a large number of measurement techniques for risk. After the step of identification, analysis is conducted which mainly includes understanding the nature and level of severity of a particular risk. All possible impacts and dimensions of the risk are studied and their possible impacts are studied as well. It is a bottom up approach that performs the evaluation keeping in mind all the possible factors that could create any risk. It looks into the processes, products and individuals which could generate any risk. Its strength is the identification of the areas which could be prone to failure and risk, and based on the knowledge, it enables taking