effectually‚ that is using the logic that entrepreneurs use in solving problems in highly uncertain market environments. Effectuation is considered to be the set of decision making principles expert entrepreneurs are observed to employ in situations of uncertainty. The alternative to effectuation is causation which uses the tools of causal reasoning by beginning with a specific goal and a given set of means to reach it. Mr. Blekman suggests that effectuation should be used rather than causal reasoning by
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the US dollar against other major currencies coupled with other inflationary factors has further increased the cost of construction; and the potential impact on the global economy caused by difficulties in the US sub-prime market has created much uncertainty amongst investors. These issues give rise to particular risks for developers and contractors alike. The allocation of risk is one of the most important matters of any construction contract. The traditional approach was to provide a fair balance
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1. Qualify the title of the film: DOUBT (Qualify: explain‚ defend‚ support‚ probe) Doubt is known as a feeling of uncertainty and lack of conviction. It describes a feeling of a person when he/she feels uncertain and confused about a certain situation due to lack of knowledge‚ proof‚ or even experience. The movie‚ Doubt‚ is about a nun who believes that the Father of her perish is having an inappropriate relationship with some of the male students‚ mainly a boy named Donald Miller. This accusation
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The client should be provided enough information‚ in simple terms‚ to make an informed decision‚ given his/her mental or emotional state and overall ability to understand what is being provided. There are four main areas that should be discussed: (1) the nature of the treatment; (2) the risks and expected benefits associated with the treatment‚ including the likelihood of success; (3) any alternatives to treatment‚ including the alternative of no treatment‚ and their risks and benefits; and (4) any
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Investigative Journalism ` ` ` ` ` ` ` ` ` Rajashri Venkatesh Ameet Kaur Abhishek Baldota Avinash Kaur Bedi Kawaljeet Singh Chandhok Divya Chitroda Shilpa Das Aakash Prabhakar Kashish Kapoor ` An investigative report is a document that is meant to provide information on a certain topic that is not easily obtained. It is meant to present the reader with a wealth of easily understood information and usually contains an interview or two on the subject. In order to
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A STUDY ON RISK MANAGEMENT IN BANKING INDUSTRY SHAJITHA.K M.Phil SCHOLAR.‚ Risk management is relatively new and emerging practice as far as Indian banks are concerned and has been proved that it’s a mirror of efficient corporate governance of a financial institution. Globalization and significant competition between foreign and domestic banks‚ survival and optimizing returns are very crucial for banks and financial institutions. However‚ selecting the efficient customer and providing
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OCCUPIERS LIABILITY The occupancy of premises is affected by two statues: 1) The occupier’s liability act 1957. Under this act there is a duty to keep safe and lawful visitors to the premises 2) The occupier’s liability act 1984. Where an occupier may owe a duty to protect trespassers onto the premises. LAWFUL VISITORS A lawful visitor has permission to enter premises. This can be expressed permission of implied. There are four situations covering implied permissions: 1) If the occupier
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Step-by-step approach in Failure Modes and Effects Analysis (FMEA)‚ beginning at the earliest conceptual stages of design and continues throughout the life of the product or service‚ it identifies all possible failures in a design‚ a manufacturing or assembly process‚ or a product or service. Any errors or defects that affect the customer are “Failure modes”‚ that can be potential or actual. “Effects analysis” are failures prioritized according to how serious their consequences are‚ how frequently
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Running head: Applied aviation safety 1 The “4 Pillars” of SMS creating a “proactive and predictive” safety program Applied aviation safety 2 When accidents happen due to negligence or a lack of safety rules‚ companies can face penalties in terms of finances and public credibility. The main purpose of a safety management system is to establish standards and procedures to effectively identify
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Some people believe that life depends on either the concepts of certainty and doubt. With certainty comes a sense of confidence. When you are certain about everything in life‚ you will know with absolute truth your capabilities‚ responsibilities‚ and consequences for your actions. However doubt engraves a feeling of the unknown. If you are uncertain about life‚ then how will you ever be restrained by boundaries? Doubt may be the only certain undeniable truth. We cannot know with certainty what happened
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