Risk and risk management in Jordanian banking Dissertation

Risk and risk management in Jordanian banking - Dissertation Example The paper tells that recent global economic slump is considered as not only being the first global economic downturn of the 21st century, but it is also considered as a new ‘risk’ face by the global society coming from ‘unknown unknowns’ of which available information are insufficient in shedding light. Nevertheless, it should be noted, the global economic slowdown can be approached and analysed using several perspectives and it involves a whole gamut of issues that are intertwined, not just single direct cause. In light of this condition, as this research will deal with risk and risk management, it will primarily focus on operational risk management in Jordanian banking sector. Operational management and operational risks have long been part of the life cycle of businesses, especially in the banking industry. Generally, it seeks to address the risks arising from the day-to-day operations of the banks. As such, operational risks management deals with non-fin ancial risks, which when left unattended, are proven catastrophic not only for the banks, but for the entire global community. This situation highlights the urgency to give further clarification regarding the idea of operational risks and operational risks management so that a better understanding of its implications of in the banking sector can be achieved. It holds the position that gaining better understanding of operational risks management in Jordanian banking sector provides solid foundation, with which, its implications can be transformed in to valuable information and policies to counter operational risks. 1.2. Background of the Study Operational risks management is new (Petria & Petria, 2009), but operational risks are not. The inclusion of and explication of operational risks and operational risk management in Basel II Accord categorically show the integral importance of operational risks management in the banking sector. Since, Basel II now proposes a more stringent manag ement structure, tools and processes in addressing operational risks (Medova, 2000). The conceptual frame together with the events create the paradigm wherein the significance of a more coherent and systematic approach to operational risks becomes necessary in the banking se

Innovation and Sustainability Essay Example | Topics and Well Written Essays - 500 words - 2

Innovation and Sustainability - Essay Example This activity involves cutting, burning and bulldozing trees down to clear land or gain access to more land. It harms the earth when the carbon monoxide seeps into the soil and floats off into the atmosphere. The consumption point of this process is having land cleared to build an industry or commercial business. It allows humans to produce products and consume currency. Industrialization is also a major human production habit. It involves processing of raw material, could be natural resources from the earth, into finished products. Agriculture supports industrialization in the food sector and food systems sustenance (Likens, Driscoll & Buso 1996, p.120). This particular production habit has been greatly influenced by the technological changes and the scarce resources. These two factors have resulted to a lot of innovation and high utilization of the available resource. Consumption is the direct utilization of material resources. Transportation is one way that humans consume. The number of vehicles has increased gradually and the fuel we use to run them is very harmful to the atmosphere. In this way we consume the efficiency of mobility by producing vehicles to ferry us to our destinations. In the larger picture production is also a part of consumption especially in transportation since in the process of production materials have to be moved from one site to another. The concept of sustainable consumption and production is comprehensive and takes a holistic approach to the systems of production and consumption. Humans have to seek ways to ultimately reverse or reduce the negative social and ecological impacts. This calls for a means of aligning economic systems to meet the needs of current and future generations within the ecological carrying capacity of the Earth. Policy instruments and tools that affect change and shift in production and consumption patterns are efforts that need to be considered in sustenance of the global population.