Monarch PLC Airlines Essay Example | Topics and Well Written Essays - 2500 words

Monarch PLC Airlines - Essay Example Monarch Airline operates in an environment that has appreciated the advantages of technology, innovation, and rapid changes in their trading environment (Doganis 2006). Its customers have diverse interests and satisfaction levels hence serving as the main drive for change. In addition, the airline faces a lot of competition from other airlines operating within the same locality and destinations. With such a diverse and demanding environment, the airline has had to make major improvements to continue meeting the market demands. For example, to continue meeting the high demands on bookings by customers, the organization had to change from making bookings over the internet to using open skies by Navitaire. This has seen the company grow to handle large systems of operations within small timelines. It has also favored the company in protecting its information while changing swiftly to the ever-changing demands in the airline market. The survival of any business depended on how the manage ment will handle the risks since they are inevitable but manageable. Challenges and opportunities keep on changing making it hard for any company to operate in a highly competitive area. Therefore, for any business to grow, risk taking is a practice to embrace (Flouris & Yilmaz 2011). Monarch airline is not exempted in this and thus has had to face many risks. Overcoming and managing the risks has seen the company grow to where it is today. Managing risks involve balancing between rewards and losses. It entails minimizing bad outcomes and enhancing good outcomes (Thomas 2002). It comes with a preparedness to handle any misfortunes that will take place in the cause of operation. It has been proved that everybody would play on the safe side of life. This provides a shield against unplanned events that endanger the running of a company or any part in the society (Flouris & Yilmaz 2011). However, some risks are inevitable and uncertain to happen. When they happen, it is only prudent to learn how to cope with them. Uncertainties and ignorance stands as major challenges in coping with the situations. Through the authorities, the balancing act should be approached from an open point of view that will accommodate all parties involved. Risk management in any organization is perceived to be the responsibility of specific individuals. However, this should not be true since every human being by nature is a risk manger. Every person by nature is responsible to handle the nature of risk created by his or her behavior (Douglas & Wildavsky 1983). The only thing that the authority can do is to ensure that every individual within the operations of the organization are well informed of the risks involved and the possible ways out of the risks. In every organization, risk experts and safety regulators stands out as very important part in the daily running of the institution. They identify risk issues early before everybody else does that (Thomas 2002). Risk authorities estimate t he magnitude of risk and therefore advise the parties involved accordingly. However, there has been cases where many people insist in taking much risk than can be handled (Douglas & Wildavsky 1983). One could be because of ignorance and two could be lack of knowledge on how much such risks could cost the organization. Risk is

What Is Electrical Engineering Research Paper Example | Topics and Well Written Essays - 1000 words

What Is Electrical Engineering - Research Paper Example Electrical engineers are continuously putting their efforts to improve communication between people by designing easy to use communication technologies, such as, cell phones and notebooks. Electrical engineering not only facilitates long distance communication but also serves the world in many other areas related to technology. Therefore, we can say that electrical engineering is one of the major fields of engineering which is playing a considerable role in technological progress all over the world. What Do Electrical Engineers Do? In the present world, electrical engineers are putting their efforts in solving electricity shortage problems by identifying and designing new electricity generating systems. â€Å"Electrical engineering mainly deals with the generation and distribution of power and maintenance of large power systems† (Dhulipala). Some of the major fields related to renewable energy systems in which electrical engineers have really shown their potential, knowledge, and skills include generation of hydropower energy, wind energy, and geothermal energy.Electrical engineers design new electronics, which they also test for quality and reliability. â€Å"The engineer is often responsible for overseeing the installation of the product to ensure it is installed properly and safely† (Partington). ... Electrical engineers mainly deal with the production of electricity by designing circuits. â€Å"An electrical engineer has many potential job functions but most work on designing products that are powered by or produce electricity† (Partington). â€Å"One of the tasks of an electrical engineer would be to develop electrical system products for household uses or for business uses† (Shipway). Electrical engineers design different electricity-based products, which serve people as well as countries. Electric products, such as, televisions, radios, computer systems, mobile phones, laptops, audio and video systems all involve the input of electrical engineers. Let us now get an overview of some of the major technological developments, which could have been impossible without input of the efforts electrical engineers. Electric Cars Electric car is one of the major developments related to the field of electrical engineering. An electric car is a vehicle that makes use of batte ries and electric motors instead of gasoline engines. The batteries are rechargeable and control the main parts of the cars. Some of the most considerable features of electric cars include more reliability, convenience, less noise, up to 500 hundred percent more efficiency as compared to internal combustion engines, regenerative breaking system, and no emission production. There is no emission of fuels from electric cars because they do not use gas for any purpose. Compared to the internal combustion engines, electric cars provide up to three times more stored energy to the wheels. It is due to these benefits that today electric cars are becoming more and more popular in