Briefly Describe the Nature of the Recent Global Financial Crisis Essay

Quickly Describe the Nature of the Recent Global Financial Crisis (GFC) - Essay Example The legislatures of practically all the countries needed to concoct bundles that are required to move out from such a circumstance. The budgetary emergency will shed its effects far and wide because of globalization. The employment surprisingly at each corner will feel the warmth of emergency (World Bank, 2009). Money related Crisis The breakdown of the U.S. lodging market viewed as the lodging bubble is portrayed as one of the prime explanation behind the circumstance to show up. The breakdown brought about flood of home loan advance defaults (World Health Organization, 2009, 2). The breakdown of the land advertise and the subprime contract market of the U.S. had the serious impacts far and wide. Vulnerabilities accumulated in the monetary frameworks. The loan bosses included themselves in pulling out their assets and got the money for out protections that were given by the monetary establishments (Jalilian, n.d., 1). These lead to disappointment of numerous establishments while oth ers attempted to endure ineffectively. The advance and credit prospects from the bank evaporated (Baily, Litan, and Johnson, M., 2008, 11). There was a downturn in the offer market as financial specialists dumped their property. The framework lost the certainty. So as to make securitization, the banks began to acquire more cash. For whatever length of time that the banks can pull out cash by selling credits based on protections, they didn't feel the reliance to depend on the savers (European Commission, 2009, 8). A portion of the banks even moved into contracts. There was pressure from the administration to serve poor people and the advances offered to the poor were hazardous as there was the dread of default (Roitman, 2009). They used to purchase the home loan so as to securitize them and afterward sell them. A portion of the banks began to purchase protections also. This expanded the introduction of the banks to dangers. At the point when the issue got understood, the way toward l oaning got eased back. A portion of the banks were very nearly the most hazardous advances which was past the aim of the financial specialists. The moneylenders fell upon to reclaim their advances. The speculation banks fell radically as they had no or little stores. The issue got escalated and even the manages an account with enormous capital stores started to feel the weight. They went to the legislature for help. The banks started to feel anxious to advance out the infused cash and the contracting banks drained cash out of the economy. Numerous economies are (or have been) in downturn, actually characterized as at least 2 fourth of negative development or withdrawal of genuine GDP, for instance the economies of the US, Japan, the Euro zone, UK, and New Zealand (however not Australia). Among different impacts remember ascend for the degree of joblessness, ascending in the degrees of worldwide and local obligation, emergency in lodging and home loan, disappointment of key organizat ions, for example, car industry of U.S., alongside different banks and lodging moneylenders. There were downturns in the offer market alongside decreases in the abundance of the customers. The volumes of universal exchange and speculation declined. There has been some recuperation with the help of the administrations, for example, stimulatory spending (yet regularly financed by further obligation), money related foundation assurances and buyouts, and help to businesses (however should have been inside the structure of WTO rules and understandings). So as to battle with the circumstance of fall in certainty it was important to infuse liquidity into the monetary institu

Management Internal/External Factors Essay -- essays research papers fc

The Internal/External Factors of Management †Wal-Mart Stores, Inc.      In today’s world administration must consider a wide assortment of elements so as to set up a compelling administration plan. Wal-Mart Stores, Inc. is the world’s biggest organization and number one retailer, with this achievement an organization this huge needs to not exclusively to search inside for answers for their administration goals, they should likewise look outside of their business for extra assets. With the expansion of innovation and the simple access to for all intents and purposes any data, Wal-Mart Stores, Inc. must be set up to respond to the huge number of requests made by shoppers and providers. The fast difference in the retail business from physical stores to Internet buys Wal-Mart Stores, Inc. has had the option to remain alluring to the purchasing open. Wal-Mart Stores, Inc. has achieved this through a profoundly complex stock following framework that empowers the stores, including the Internet, to have available precisely what the b uyers are searching for. As per Hoover’s Online Wal-Mart Stores, Inc has extended to around 4,700 stores including around 1,500 markdown stores, 1,650 mix rebate and supermarkets (Wal-Mart Supercenters in the US and ASDA in the UK) and 532 participation just outlet center (Sam’s Club) (2003). With the presentation of a remote market their administration plan must envelop the standards and guidelines of working together in an outside nation. With the creation of their following and distinguishing proof framework, called Radio Frequency Identification (RFID), Wal-Mart Stores, Inc. has applied power over their whole stock and empowers the laborers to distinguish and find stock all the more promptly for the clients. Web based business has expanded the simplicity of buying for buyers; Wal-Mart Stores, Inc. has a site that takes into consideration the straightforwardness and accommodation of buying pretty much every thing in the store over the Internet. Wal-Mart Stores, Inc. has been creative in addressing the requirements of their demographic, with the Supercenters, it is essentially one quit looking for the entirety of your family and basic food item needs, without the issues of halting at two stores when you get your things done.      As a profoundly regarded private boss, Wal-Mart is resolved to maintain decent variety. Wal-Mart is completely dedicated to regard their workers... ...er development that Wal-Mart Stores, Inc., has received is its edge defer information arrange. This takes into account Wal-Mart stores to inventory and analyze each exchange that is made so they will have the option to keep their finger on the beat of the customers’ purchasing behaviors. With this they can tract the amount of a specific thing clients purchase and afterward transfer that data on to the provider. For instance, on the off chance that clients are purchasing four of a similar thing, at that point Wal-Mart can instruct the provider with respect to this data and afterward the provider can bundle the thing in gatherings of four. Through development Wal-Mart Stores, Inc., has reclassified the fundamental component of the retail Industry. Works Cited About Wal-Mart. â€Å"Wal-Mart International.† 8 November 2003. http://www.walmartstores.com/wmstore/wmstore/Mainabout.jsp?BV_SessionID=@@@ Aisner, James E. â€Å"Rapid Response: Inside the Retailing Revolution.† Harvard Business School Working Knowledge on the Web. Winter 1999. http://www.e-proximity.com/cream/HBS%20retail.htm Biesada, A. (2003) Wal-Mart Stores, Inc. Hoover’s Online. Recovered November 8, 2003 from: http://www.hoovers.com/free/co/factsheet.xhtml Dash30. Wal-Mart Takes on The Web. 8 Oct. 2003 . The board Internal/External Factors Essay - articles look into papers fc The Internal/External Factors of Management †Wal-Mart Stores, Inc.      In today’s world administration must consider a wide assortment of elements so as to set up a powerful administration plan. Wal-Mart Stores, Inc. is the world’s biggest organization and number one retailer, with this achievement an organization this huge needs to not exclusively to search inside for answers for their administration targets, they should likewise look outside of their business for extra assets. With the expansion of innovation and the simple access to practically any data, Wal-Mart Stores, Inc. must be set up to respond to the large number of requests made by buyers and providers. The quick difference in the retail business from physical stores to Internet buys Wal-Mart Stores, Inc. has had the option to remain alluring to the purchasing open. Wal-Mart Stores, Inc. has achieved this through a profoundly complex stock following framework that empowers the stores, including the Internet, to have available precisely what the buyers are searchi ng for. As indicated by Hoover’s Online Wal-Mart Stores, Inc has extended to around 4,700 stores including around 1,500 rebate stores, 1,650 mix markdown and supermarkets (Wal-Mart Supercenters in the US and ASDA in the UK) and 532 enrollment just outlet center (Sam’s Club) (2003). With the presentation of an outside market their administration plan must incorporate the standards and guidelines of working together in a remote nation. With the innovation of their following and distinguishing proof framework, called Radio Frequency Identification (RFID), Wal-Mart Stores, Inc. has applied authority over their whole stock and empowers the laborers to distinguish and find stock all the more promptly for the clients. Online business has expanded the simplicity of buying for purchasers; Wal-Mart Stores, Inc. has a site that takes into consideration the simplicity and comfort of buying pretty much every thing in the store over the Internet. Wal-Mart Stores, Inc. has been excep tionally inventive in addressing the necessities of their customer base, with the Supercenters, it is essentially one quit looking for the entirety of your family unit and basic food item needs, without the issues of halting at two stores when you get your things done.      As an exceptionally regarded private business, Wal-Mart is resolved to maintain assorted variety. Wal-Mart is completely dedicated to regard their representatives... ...er advancement that Wal-Mart Stores, Inc., has embraced is its casing defer information organize. This takes into account Wal-Mart stores to index and look at each exchange that is made with the goal that they will have the option to keep their finger on the beat of the customers’ purchasing behaviors. With this they can tract the amount of a specific thing clients purchase and afterward transfer that data on to the provider. For instance, in the event that clients are purchasing four of a similar thing, at that point Wal-Mart can instruct the provider with respect to this data and afterward the provider can bundle the thing in gatherings of four. Through advancement Wal-Mart Stores, Inc., has re-imagined the fundamental component of the retail Industry. Works Cited About Wal-Mart. â€Å"Wal-Mart International.† 8 November 2003. http://www.walmartstores.com/wmstore/wmstore/Mainabout.jsp?BV_SessionID=@@@ Aisner, James E. â€Å"Rapid Response: Inside the Retailing Revolution.† Harvard Business School Working Knowledge on the Web. Winter 1999. http://www.e-proximity.com/cream/HBS%20retail.htm Biesada, A. (2003) Wal-Mart Stores, Inc. Hoover’s Online. Recovered November 8, 2003 from: http://www.hoovers.com/free/co/factsheet.xhtml Dash30. Wal-Mart Takes on The Web. 8 Oct. 2003 . The executives Internal/External Factors Essay - papers examine papers fc The Internal/External Factors of Management †Wal-Mart Stores, Inc.      In today’s world administration must consider a wide assortment of elements so as to build up a powerful administration plan. Wal-Mart Stores, Inc. is the world’s biggest organization and number one retailer, with this achievement an organization this huge needs to not exclusively to search inside for answers for their administration goals, they should likewise look outside of their business for extra assets. With the expansion of innovation and the simple access to for all intents and purposes any data, Wal-Mart Stores, Inc. must be set up to respond to the huge number of requests made by purchasers and providers. The quick difference in the retail business from physical stores to Internet buys Wal-Mart Stores, Inc. has had the option to remain appealing to the purchasing open. Wal-Mart Stores, Inc. has achieved this through an exceptionally complex stock following framework that empowers the stores, including the Internet, to have available precisely wh at the buyers are searching for. As indicated by Hoover’s Online Wal-Mart Stores, Inc has extended to around 4,700 stores including around 1,500 markdown stores, 1,650 blend rebate and markets (Wal-Mart Supercenters in the US and ASDA in the UK) and 532 enrollment just discount stores (Sam’s Club) (2003). With the presentation of an outside market their administration plan must incorporate the standards and guidelines of working together in a remote nation. With the innovation of their following and recognizable proof framework, called Radio Frequency Identification (RFID), Wal-Mart Stores, Inc. has applied power over their whole stock and empowers the laborers to recognize and find stock all the more promptly for the clients. Online business has expanded the simplicity of buying for buyers; Wal-Mart Stores, Inc. has a site that takes into account the simplicity and comfort of buying pretty much every thing in the store over the Internet. Wal-Mart Stores, Inc. has been extremely creative in addressing the requirements of their customer base, with the Supercenters, it is fundamentally one quit looking for the entirety of your family unit and basic food item needs, without the issues of halting at two stores when you get your things done.      As an exceptionally regarded private boss, Wal-Mart is resolved to maintain decent variety. Wal-Mart is completely dedicated to regard their representatives..

Dealing With the Stress of a Disappointing Election

Dealing With the Stress of a Disappointing Election Stress Management Situational Stress Print How to Deal With the Stress of a Disappointing Election By Elizabeth Scott, MS twitter Elizabeth Scott, MS, is a wellness coach specializing in stress management and quality of life, and the author of 8 Keys to Stress Management. Learn about our editorial policy Elizabeth Scott, MS Updated on August 09, 2019 How Stress Impacts Your Health Overview Signs of Burnout Stress and Weight Gain Benefits of Exercise Stress Reduction Tips Self-Care Practices Mindful Living Zero Creatives/Getty Images Political elections these days have become quite intense â€" we have very passionate participants on both sides, and  with so much passion on both sides, the side of the candidate who did not win inevitably feels disappointment and stress from having things go the other way. Its important for a nation to be united and move forward after a fiercely fought campaign, and its important for voters to feel better and less stressed about the results if the results werent what they hoped for. Here are some strategies for relieving stress about an election. Set Boundaries Many people got used to checking 24-hour news channels and websites and staying abreast of every turn in the campaign over the past several months. Now that the election has happened, you may start realizing that it was all a bit overwhelming. If you feel a little overwhelmed, try to limit your news exposure, or go on a news fast for a few days, to give yourself a break. While taking a break from the news, you may also want to expose yourself to new scenery that reduces stress: Take a walk with your family in the evening, go to an exercise class (exercise is a great stress reliever), or try some guided imagery for a quick change of scenery. You’ll be glad you did. Do Something People have already been volunteering and getting involved with the political campaigns in high numbers. Now that the campaigns are in the past, you might enjoy volunteering for a worthy cause that’s important to you. Doing something with your stressed energy can help you deal with your anxiety, give you a sense of control (read here about the benefits of gaining an internal locus of control), and take your mind off the stress of your candidate not winning. Change Your Focus Having your candidate not win can be very disappointing. As with other situations where you experience anxiety but have no power to directly change your circumstances, one thing you can do to reduce stress is to change our outlook. While you don’t have to be enthusiastic about the other candidate winning, you can reduce the anxiety you feel about the situation by changing what you focus on. You already know what you dont like about the other candidate, but you might feel better if you looked for qualities or possibilities that you can feel good about â€" nobody agrees or disagrees with 100% of another persons views and policies, so chances are good that there are some positives for you in this situation as well. If you look and still cant find anything about this outcome that doesnt feel terrible to you, it might help you feel better to focus on other things in life that bring you happiness, like friends and family. (See this article for more on changing your perspective with cogni tive restructuring.) Talk to Someone It can be very cathartic to talk to friends and family who agree with your political views. Get together and talk about your disappointment, and you may feel better just getting your feelings out; youll also feel supported and understood. Sometimes just sharing your feelings through journaling helps you to let go. If you find that your feelings are so intense that theyre interfering with your regular functioning, you may even want to talk to a professional. Regular Stress Management Stress is stress. Whether your stress comes from election fears or something else, it’s important to have some standard stress relievers you have up your sleeve to keep your current stress from morphing into chronic stress, where your stress response gets triggered and never quite gets turned off. Some of my favorites are breathing exercises, regular exercise, meditation, social support, and journaling.

Hydraulic Fracturing Has Recently Grown In Popularity As

Hydraulic fracturing has recently grown in popularity as a means of energy production. There are advantages and disadvantages, mainly relating to the environment and the economy, of this industry. Although there are pros and cons to both sides of the issue, a compromise needs to be found for both the safety of the environment and to be able to support affordable energy production. Hydraulic fracturing, as an industry, has had a large economic impact by creating jobs. Using natural gas from hydraulic fracturing, instead of coal, in electricity production has decreased carbon dioxide emissions. The drop in natural gas prices, because of increased production, has lead to cheaper energy prices. Hydraulic fracturing has the potential to†¦show more content†¦After the correct depth is reached, then a directional, or horizontal section is drilled to reach the oil or gas deposits. The fractures in the rock are formed from a process that consists of pumping a large amount of a fluid mixture into the rock formations at high pressures. The fluid is mostly made of water, a proppant (materials that keep the fractures open), and chemicals that help open the rock fractures further. Internal pressure pushes the fluid mixture back to the surface after the process is complete. The fluid that comes back to the surface is referred to as â€Å"flowback† or â€Å"produced water.† This waste fluid is usually â€Å"injected underground for disposal,† but in some cases it is treated with more chemicals and then discharged into water sources (â€Å"The Process of Hydraulic Fracturing†). The process of hydraulic fracturing has made it easier to reach gas and oil reserves that used to be impossible to access, this has led to a dramatic expansion of energy production and an increase in the activity level of the economy (Hassett and Mathur). The use of hydraulic fracturing and directional horizontal drilling are being used together to reach oil and gas that was previously unreachable with old drilling methods (Romich and Schumacher). In Ohio, there have been at least 80,000 natural gas and oil wells that have used fracking at varying depths (â€Å"Hydraulic Fracturing†). There are areas in Eastern Ohio that contain deposits of dry gas (farthest east) and wet gases and

Want to Know More About Ib Math Extended Essay Topics?

Want to Know More About Ib Math Extended Essay Topics? You should research suitable topic suggestions to be certain that you may find enough info to compose a strong paper. The first thing which you must keep in mind when deciding the lengthy essay topics is the length, as it's a lengthy essay then the topic ought to be something that has a wide number of information on it. The outline is also known as the format. Even more, you might want to select a trendy topic. In such a situation it could be wise to find professional extended essay support. As a way to score well, you must stick to the appropriate directions The subject of your essay is critical as it decides the range of your work. Don't neglect to explain how specific examples can allow you to illustrate an important point. If your school isn't one already, learn to turn into an IB World School to be able to implement the DP. There are professional writers accessible to understand the demands of the IB extended ess ay. Students lead busy lives and frequently forget about a coming deadline. Say, for instance, you're a high school student, and you should compose a 3-page essay. You won't make the error of writing something in your essay that you believe you have thought of yourself, but is actually something you're remembering from a book word-for-word. Most of the folks have a tendency to run away from politics and thus the politics essays too, therefore it is quite important to grab the eye of the readers till the conclusion of the essay and that would be much difficult I know. The sole thing that's left is to restrict your topic to a single aspect and stick with it in your essay. To sum this up, reading will allow you to earn a fantastic essay. Before you commence writing your math extended essay, you should read. My math teacher said it would be challenging to compose a paper in math unless you've done at the very least a bachelor's in math. When you start writing your essay you'll have all info you should make accurate direct quotations. An elongated essay is one which you won't finish overnight. Any elongated essay is a particular academic writing assignment that needs a suitable structure to be prosperous. Writing a winning extended essay is simple if you abide by the crucial guidelines. Ib Math Extended Essay Topics Ideas Or, you can turn into a member of an area group of biology enthusiasts. Therefore, if there's any reason why you cannot have your extended essay written on time yourself, all you have to do is place your order on our site, and leave the rest to us! When you believe you have sufficient resources that'll be the best time to start reading. If you aren't certain of who you'd like to be your advisor, I would start by making a list of your top 3 choices. Indeed, it's also fundamental to understand what kind of people are likely to read your essay. One of the very first things you have to unders tand in earning your topic choice is that there's a difference between history and current affairs. It's recommendable to compose issues which are presently affecting the lives of a lot of people. Many students wind up wasting a great deal of their power and time on their worries about a word count. Math Extended Essay math extended essay I'm currently in my very first year of the IB Diploma Programme, and I have chosen to compose my extended essay on the subject of. Like your History IA, it's crucial that you keep the range of your EE narrow to keep within the 4000 word limit. Math Extended Essay math extended essay I'm currently in my very first math of the IB Diploma Programme, and I have chosen to compose my extended essay on the subject of mathematics. If You Read Nothing Else Today, Read This Report on Ib Math Extended Essay Topics Choosing the topic has become the most important aspect. Researching is important if you don't know much about your topic. Begin the res earch possible once possible. If you really need to stand out, start looking for original and distinctive sources of information for your extended essay. You will have the ability to discover enough info on every one of them to conduct your research and answer your essay's major questions. If you get a superior research, you can construct a great paper that will stick out. Your research ought to be organised so the transition from doing your research to writing your essay is straightforward.

Summay Reinventing Your Business Model Free Essays

Reinventing Your Business Model By Mark Johnson, Clayton Christensen Henning Kagermann Summary Submitted by Tiffany The article â€Å"Reinventing Your Business Model† is focused on the importance of innovating business models as a means of providing new growth and opportunities for an organization. The three authors, Johnson, Christensen and Kagermann, provide a layout to demonstrate possibilities for an organization. The first step is to understand the definition of a business model. We will write a custom essay sample on Summay: Reinventing Your Business Model or any similar topic only for you Order Now The article explains that a business model consists of four elements that each work together to provide value. These elements include customer value proposition (CVP), which is â€Å"a way to help customers get an important job done. † Next is the profit formula which is the plan for how the company will money while provide a value to the customer. The third element, key resources, is the assets that are required in order to fulfill the customer value proposition. Lastly, key processes are the primary operational and managerial tasks that also assist in delivering to the customer and company. Also you can read  Business Ethics Comprises The authors use two business examples to illustrate the process: Tata Group’s CPV for providing safer, inexpensive transportation and Hilti’s CVP for converting from commoditization of power tools to service provider through the leasing of power tools. After explaining the business model, the authors move forward to discuss understanding when a business model is needed. Although there are opportunities when a company can disrupt competitors by producing a product that is within their current model, a business must know when it is advantageous to create a new business model. The authors state that there are five strategic circumstances that require a change: 1) An opportunity to provide value for a group that is completely shut out of a market; 2) Capitalizing on a new technology by creating a business model around it; 3) Providing a â€Å"job-to-be-done† when it doesn’t exist yet; 4) Fending off low-end disrupters; and 5) Responding to a shift in the basis of competition. Additionally, the authors stress that venturing into a new business model should not be taken lightly and should be pursued only when the opportunity is large enough and â€Å"game-changing† enough to warrant it. At the conclusion of the article, the authors discuss Dow Corning as an example of a company creating a completely new business model independent of their existing model. Dow Corning discovered a need for a low cost product model and ultimately established Xiameter, which is starkly different from its original model. The authors also assert the need for trial and error and a willingness to revise as keys to creating a new business model. How to cite Summay: Reinventing Your Business Model, Papers

Small Business in Australia

Introduction Business insurance is a mandatory risk management prerequisite for every business despite its size and sector of operation. The business entity under study in this report is a sole proprietor small business that has been in operation for over ten years in Australian of professional services sector of the economy.Advertising We will write a custom essay sample on Small Business in Australia specifically for you for only $16.05 $11/page Learn More Australian business environment is full of risks. Unlike big business entities, it would be very difficult for a small business to survive a calamity given the limited capital invested in the business. According to GIO Business Insurance Company, research shows that 70% of Australian small businesses would not survive a calamity such as storm or fire without proper insurance (Protecting Your Business, par. 2). It is for this reason that the owner of the small business I surveyed found it prudent to h old insurance as a risk management strategy. Insurance protects small businesses from any potential risk that might lead to losses and the eventual collapse of the business. Types of insurance available to small business owners in Australia There is quite a variety of insurance available to small business owners in Australia. Depending on the needs of the business owner, the following types of insurance are applicable. Liability Insurance This type of insurance covers business owners against any form of liability in the course of their business operations (Insurance Quotes Compared, liability subsection). Liability insurance protects the business as well as anyone associated with it including customers. Under the broad category of liability insurance, a business owner may opt for public liability to cover the business against any liability claims from third parties, or product liability to cover the business against liability claims regarding its product (Insurance Quotes Compared, liability subsection). Assets and Revenue Insurance This type of insurance gives the business a wider coverage and protects both business assets including building and contents, machinery, automobile, as well as covering the costs of business interruption or loss of profits (Insurance Quotes Compared, Assets and Revenue subsection). Assets and Revenue insurance can be broken down into the following types of insurance:Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fire and Perils: that covers the business premises and its contents against the dangers of fire, lightning and storm. The calamities covered in this type of insurance can be either malicious or accidental. Auto Insurance: sometimes referred to as motor insurance covers both own property damage and injury resulting from the use of one’s vehicle as well as third party injury and property damage arising from use of the same. Machinery Breakdown: that covers the business against losses resulting from machinery breakdown, specifically electric motors or boilers that are used in the business. Business Interruption Insurance: that covers the costs of taxes and other utilities during the period the business is temporarily closed down following a calamity. Workers Compensation This is compulsory insurance for every employer in Australia (Pynt, p. 86). It covers costs arising from claims made by employees due to injury, illness or death during the course of duty (Insurance Quotes Compared, people subsection; Insurance Information Institute, par. 2). Professional Indemnity This type of insurance is specifically applicable to businesses in professional services sector of the economy. It covers the business owner against legal claims made by his clients against him because of the losses they incurred as a result of the business owners omissions or errors in his professional advice (Insurance Quotes Compared, As sets and Revenue subsection). Political Risk insurance This type of insurance covers the business against losses that would arise from political perils including riots, revolution and embargo. Tax Audit This type of insurance covers the costs that the business owner would otherwise incur because of response to ATO audit. Reasons behind the choice of business insurance The small business owner in this study holds an Assets and Revenue insurance. This type of insurance covers his business premises and the contents therein as well as costs of running business during business interruption period. Given the fact that his business is located in Australia, a country prone to natural disasters such as fire and storms, his business premises stands a high risk of destruction. Building and assets therein form the backbone of every business, big or small. Should he suffer any loss due to weather calamities, then he is likely to close down his operations given the small size of his business. Bes ides, the cost of running a business after an interruption may be too high for this type of business. Through his business interruption cover, he assured of a relief in the basic costs of running his business, i.e. rent, tax, and utility bills, during the period of business interruption. Therefore, the main reasons for his choice of insurance are two fold: the uncertainty of Australian physical environment, and the possibility of a business interruption following a disaster.Advertising We will write a custom essay sample on Small Business in Australia specifically for you for only $16.05 $11/page Learn More The relationship between business owner’s background and business insurance focus From the consolidated data, it was revealed that the small business owner in this case study is an Asian. There is a high possibility that his ancestry influenced his choice of business insurance. Asia is a region prone to natural calamities including floods and storms. An Asset and Revenue insurance is a necessary insurance cover for every business in Asia to safeguard them against the risks of losses resulting from natural disasters. Most likely, the business owner in the question had this preconception and hence settled for Assets and Revenue insurance to cover his business premises and contents therein as well as costs during business interruption. Yet, liability insurance and professional indemnity would be more applicable to his business given his sector of operation. The relationship between business background and insurance focus The small business owner in this case study specializes in professional services. Considering his type of business, there is no relationship between his business background and insurance focus, no wonder he has never lodged any insurance claim despite being in operation for over ten years. Based on his type of business, he ought to have opted for more appropriate types of insurance like Professional Indemni ty to protect him against any claims that his clients would make regarding errors or omissions in his advice. Works Cited Insurance Information Institute. â€Å"Workers Compensation Insurance.† Insurance Information Institute Inc., 2011. Web. Insurance Quote Compared. Business Insurance. Insurance Quotes Compared, 2009. Web. â€Å"Protecting Your Business.† GIO, n.d. Web. Pynt, Gregory J. Australian Insurance Law: A Fast Reference. Chatswood, N.S.W: LexisNexis Butterworths, 2008. Print.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This essay on Small Business in Australia was written and submitted by user B1-Beast to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.