Economy of Ireland - 4021 Words

Economy of Ireland I. Introduction The economy of Ireland has transformed in recent years from an agricultural focus to a modern knowledge economy, focusing on services and high-tech industries and dependent on trade, industry and investment. Since the mid 1990s, Ireland has experienced consistent growth rates of up to 10% per annum. This has been attributed to years of strong government planning through the implementation of five-year National Development Plans. These plans provided for large-scale investment in infrastructural projects and the focused development of Ireland as a base for multinational export-oriented companies. Ireland was transformed from one of the poorest countries in Western Europe to one of the wealthiest.†¦show more content†¦This attitude suited the developers down to the ground. Developers and builders launched into buying land and building huge housing estates (with money they didn’t have) and consumers, us, launched into buying these houses (with money we didn’t have ). This suited the banks down to the ground, lending more and more money expecting massive returns. The problem is someone at some stage forgot to tell them to stop building. Where were all the people going to come from to live in these houses? I don’t think unfortunately the full effect of the downturn has yet been felt by the industry as a significant number of infrastructure projects have yet to be completed. According to the CIC (Construction Industry Council) at its peak, construction represented 25% of GNP equating to â‚ ¬38.4bn. This level was unsustainable. IV. The Banking Sector The Irish banking sector has led a relatively fruitful life, especially over the last fifteen years or so and seemed that it would continue long into the future. The banks were joined at the hip with the construction sector and were making huge investments, albeit with shareholders money. The banks got into trouble because they got caught up in the mass psychology of an unprecedented property bubble – the steepest and longest of the several national property bubbles of the late 1990s andShow MoreRelatedThe Economy of Ireland1572 Words   |  6 PagesEconomics of Ireland The republic of Ireland lies to the East of England and Wales with an estimated population of about 4.5 million. Its well infrastructure in terms of communication and ICT, stable legal system, low corporate tax and other incentives have been put in place through the Industrial development Agency (IDA) have been attracting foreign investments. Ireland has most of the worlds best financial firms and a young highly skilled and available labour force that can be utilized by theRead MoreEssay On Ireland Economy703 Words   |  3 PagesIreland economy is recovering, but problems remain The Irish economy has gotten back on its feet, and its main task is to keep its stance solid by completing the recovery and spreading its fruits among the population. There’s already an astounding growth rate of 7.8 percent. In the past couple years the growth rate upgraded by the Irish Central Statistics Office to 26.3 percent. Ireland’s positive economic performance is expected to continue , despite the fallout from the UK vote to leave the EURead MoreFrom Celtic Tiger to the Financial Crisis in Ireland1735 Words   |  7 PagesThe latest history of the Irish economy: from Celtic Tiger to the financial crisisCeltic tiger is a term used to describe the economy of Ireland during a period of rapid economic growth starting in the second part of the 1990s and ending in approximately 2007-2008. During that time Ireland experienced a boom which transformed the country from one of the poorest states in Europe into one of the wealthiest. The term Celtic Tiger was first coined by an Irish economist Morgan Stanley and derives fromRead MoreThe Debt Of The Irish Banking System1798 Words   |  8 Pagesrisky activity, placing a large burden on those banks. The total assets of the Irish banking system were five times larger than the size of the Ireland economy prior to the crisis. By September of 2008, a year after the housing bubble began to burst, Irish banks were no longer able to raise funds on the international markets, consequently sending Ireland into a severe crisis. In an attempt to save Irish banks, the government issued a blanket guarantee for the liabilities of banks. The governmentRead MoreForeign Direct Investment ( Fdi )1406 Words   |  6 Pagesbe seen as an investment that leads directly to job creation in an economy. The unemployment rate decreases due to FDI, which leads to stability in economic, social and political spheres. This leads to establishing the notion that FDI is necessary for a country because it helps in strengthening the economy of a particular country. Ireland has been benefitted by FDI for years. Since the early years of the twenty-first century, Ireland has attracted billions of dollars of investment from its economicRead MoreEssay about The Great Potato Famine1740 Words   |  7 Pagespotato crops throughout various parts of Europe. With the spread of this disease, it soon targeted Ireland consuming the major crop of potatoes. The famine began by this mysterious disease that hit many parts of Europe during 1845. T his disease known as the blight was caused by a fungus known ‘phytophthora infestans’. Prior to the blight, two main diseases known as ‘curl’ and ‘dry rot’ attacked Ireland but were not as destructive (Kinealy 33). The blight was known to be originated from South AmericaRead MoreEntrepreneurial Activities1060 Words   |  5 Pagesand key factors to the growth of the economy in Northern Ireland. Developing levels of risk taking, initiative and creativity are important in supporting this economic growth. Many entrepreneurial businesses that have been set up in Northern Ireland have been successful, leading to a growth in the economy. The Barclays Eagle Labs Belfast scheme at Ormeau Baths (Eagle Labs) states that â€Å"The Barclays Eagle Lab business incubator† was set up in Northern Ireland in June 2017 to give the start-up andRead MoreEconomic Assessment : Gdp Size And Growth946 Words   |  4 Pagesfrom $46,425 to $49,360 (Ireland GDP | 1960-2015, 2015). Despite overall growth, both GDP and per capita GDP experienced low growth from 2011-2013, and even negative growth in 2012. This is explained by the tight fiscal policy maintained by Ireland’s government during this time. In addition to GDP growth, an interesting indicator of Ireland’s dependence on trade is its exports as a percentage of GDP. Total exports accumulate to 107.8% of Ireland’s GDP in 2014 (Ireland GDP FOrecast, 2015). OneRead MoreProtestant and Catholic Troubles in Ireland1475 Words   |  6 PagesCatholics and Protestants in Northern Ireland. The troubles have been protracted and costly in every sense of the world. From the first civil rights marches in 1968 till the signing of The Good Friday Agreement in 1998, 3,500 people died and over 35,000 were injured in Northern Ireland as the direct result of the aggressive violence , rebellion, bombings, murders, and terror tactics. The Catholic and Protestant troubles and conflicts had a significantly impact on Ireland. This serious issue had impactedRead MoreThe World s Best Country1022 Words   |  5 PagesOnce called the â€Å"most depressed country in the world,† Ireland ranked the first in the best country to live in among 111 countries around the world, based on â€Å"quality of life† assessment by the Economist in the year 2004 (â€Å"The World s Best Country†). In January 1973, Ireland became one of the member of the European Union, and this is when the country took their first step to its development (EU Member Countries). Consisting of 28 member states in total, the purpose of establishing European Union

Determinants of Carbon Dioxide Emissions in the...

Introduction The National Aeronautics and Space Administration Goddard Institute for Space Studies (2014) states that â€Å"global surface temperature in 2013 was +0.6 °C (~1.1 °F) warmer than the 1951-1980 base period average, thus the seventh warmest year in the GISS analysis.† Global warming has always been correlated by the increasing amount of greenhouse gases, which carbon dioxide is notoriously known for, in the Earth’s atmosphere. Many environmental activists are putting pressures to every facet of society and making them aware about the harm of the continuously increasing carbon dioxide emission that the world is experiencing. The Philippines is already starting to experience sudden extreme changes in its climate and natural disasters†¦show more content†¦With this objective, the author thinks that there is a need to empirically determine the impact of macroeconomic determinants on carbon dioxide emissions. Significance Oftentimes, human nature dictates us to spur the most from what we have, thus, it is natural for greed and tunnel vision for growth to be in the minds of many businessmen, policymakers, or any citizen in the population. However, in many cases, these men fail to recognise that more than monetary costs, many of human actions entail environmental repercussions. The significance of this study can be derived from the essence of the variables that are going to be used in this study. Gross domestic product, foreign direct investment, exports, imports, energy use, and urban population relates with economic development. On the other hand, carbon dioxide emissions in this study, relates to environmental sustainability. Given these two, the study will give the reader insights, more or less, on how the Philippine population treats economic development along side environmental sustainability. Through the individual effects of the independent variables, we can infer not only about wha t those variables contribute to carbon dioxide emissions, but also see the level of environmental awareness that the population injects while inspiring development in the country. With the completion of the paper, we are bringing in practicality and the picture of reality that the Philippine economy and its society isShow MoreRelatedUrbanization and Environmental Degradation3651 Words   |  15 Pagesvegetation and soil. Cities remain warm in the night when the countryside has already cooled. IJREAS Volume 2, Issue 2 (February 2012) ISSN: 2249-3905 2. Changes in Air Quality Human activities release a wide range of emissions into the environment including carbon dioxide, carbon monoxide, ozone, sulphur oxides, nitrogen oxides, lead, and many other pollutants. 3. Changes in Patterns of Precipitation Cities often receive more rain than the surrounding countryside since dust can provoke the condensationRead MoreComparing Organic Farming and Conventional Farming2727 Words   |  11 Pagesorganic farming are compensated by relatively higher price of the products and producers receive premium prices by selling organic products, consequently declining poverty and hunger pressures (Parrot et al., 2006). Thus, farm gate prices are crucial determinants for the profitability of organic farming. On the contrary, price premium tend to has negative impact to the consumers of organic products (Misra et al., 1991). The price of organic vegetables increases by 100% and organic vegetables were sold inRead MoreClimate Change And Subsistence Farming2247 Words   |  9 Pages70% of the world’s volume. The Asian rice-producing countries tend to consume most of their domestic rice production. Nevertheless, Thailand and Vietnam are able to export some rice to neighboring countries such as Ban gladesh, Indonesia, and the Philippines. Dasgupta et al. (2009) identified ten developing countries whose land areas are most exposed to the potential threat of a one-meter rise in sea level. Among the countries most affected by sea level rise are Bangladesh, China, Taiwan, and VietnamRead More7 Megatrends 203026297 Words   |  106 PagesMARKETS T3 SCARCITY OF RESOURCES T4 THE CHALLENGE OF CLIMATE CHANGE T5 DYNAMIC TECHNOLOGY INNOVATION T6 GLOBAL KNOWLEDGE SOCIETY T7 SHARING GLOBAL RESPONSIBILITY START INDEX TRENDS CONTACT 8 SUBTRENDS INCREASING CO2 EMISSIONS GLOBAL WARMING ECOSYSTEM AT RISK World   CO2 emissions   will    increase   16% The   average   global    temperature   will    rise   0.5- ­1.5 °C Declining    biodiversity   and    extreme   weather A. EXECUTIVE SUMMARY Seven   global   megatrends   shape   the   face   of   theRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesaccepted as inevitable if not imminent, humanity came to recognize, albeit more gradually, a second threat to global survival in the last years of the century—accelerated climate change brought on by the release of ever-increasing, polluting emissions into the earth’s atmosphere. But, as Richard Tucker shows, this ultimate peril comprises only one of the many strands of environmental degradation that have, in their intensity and cumulative repercussions, set the world history of the twentiethRead MoreNokias Human Resources System144007 Words   |  577 Pagesthese cases have been withdrawn or dismissed, with one dismissal currently on appeal. In addition, Nokia and other mobile device manufacturers and cellular service providers were named in five lawsuits by individual plaintiffs who allege that radio emissions from mobile phones caused or contributed to each plaintiff’s brain tumor. Although Nokia products are designed to meet all relevant safety standards and recommendations globally, we cannot guarantee we will not become subject to product liabilityRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesimproving an organization’s effectiveness. That’s a mouthful, so let’s break it down. Organizational behavior is a field o f study, meaning that it is a distinct area of expertise with a common body of knowledge. What does it study? It studies three determinants of behavior in organizations: individuals, groups, and structure. In addition, OB applies the knowledge gained about individuals, groups, and the effect of structure on behavior in order to make organizations work more effectively. To sum up ourRead MoreProject Mgmt296381 Words   |  1186 PagesBottom Line (planet, people, profit) The threat of global warming has brought sustainable business practices to the forefront. Businesses can no longer simply focus on maximizing profit to the detriment of the environment and society. Efforts to reduce carbon imprint and utilize renewable resources are realized through effective project management. The impact of this movement towards sustainability can be seen in changes in the objectives and techniques used to complete projects. See Snapshot from Practice:

Frankenstien Essay Example For Students

Frankenstien Essay Many punishments for crimes are often given to innocent people. In the novel Frankenstein by Mary Shelly, there are several instances in which the punishment is given to an innocent person. Justine, a maid at the Frankenstein residence, was killed for a crime she did not commit. Felix, a character the Monster encounter, was exiled from his country, for helping an innocent man escape from jail. Lastly Victor himself was jailed for a murder, which he did not commit. Justine was killed because Victor Frankenstein’s younger brother, William, was murdered. An item that William was wearing during the night of the murder was found on Justine leading everyone to believe that Justine is the murderer. When Victor arrives back to Geneva and hears that Justine has been accused of the murder his reaction was, â€Å"Justine Mortiz! Poor, poor girl, is she accused? But it is wrongfully; everyone knows that; no one believes it, surely†¦Ã¢â‚¬ . Victor knew the Monster killed William and probably framed Justine. He knew Justine was innocent, but no one believed him. Justine was also forced to give a false confession, and was hanged. People dislike being insecure, like having a murderer loose among them, so they punish a scapegoat, like Justine, to ease their minds. When Felix and his family were living in Paris, a Turk was arrested and sentenced to death. Felix and many others believed that his religion and wealth were the cause of his condemnation, not the alleged crime. Felix however takes matters into his own hands, and frees the Turk from jail, but the government captures his family. Felix surrenders in hope that his family will be spared. However the government exiles all of them. Any body in power punishes any threat to its control with extreme measure to ensure that its power is intact. The Monster also supports this view since, as he conveyed the story to Victor he says, â€Å"The government of France was greatly enraged at the escape of their victim and spared no pains to detect and punish his deliver,† (110) showing how quick the government was to destroy any threat to it’s power. For this reason, Felix, who saves an innocent man, which is not a crime, was punished. Victor is jailed because he is suspected of murdering his friend Henry Clerval. The murder occurs the previous night and there are witnesses that say they saw Victor acting suspiciously during the night. Victor was then arrested and jailed. Although Victor was released when Mr. Kirwin helps collect witnesses, arranges his defense and â€Å"†¦proved that I Victor was on the Orkney Islands at the hour the body of my friend was found†¦Ã¢â‚¬  (166), Victor was still punished, by being forcibly jailed, for a crime he did not commit. This is another example of how people’s insecurity, in this case, again, due to the fact a murderer was loose, finds someone easy to blame, so that their minds will be at ease. In conclusion, all three examples given, from the novel Frankenstein, consist of people being punished for crimes not committed by them. Justine was punished for the murder of William, Felix for assisting an innocent man escape, and Victor for the murder of his friend Henry Clerval. Although all three of these characters are punished falsely, they are punished for different reasons. One reason is that people do not like being insecure and quickly find someone to blame so that they can be more secure knowing the culprit, in their minds, is behind bars. The second reason is that anything in power does not like to give up that power, so when its power is challenged, it quickly destroys the challenger so that its power is not threatened. Both Justine and Victor were punished because of the first reason, and Felix was punished because of the second reason. .u2577350798e853c2dec913e34e6ba37d , .u2577350798e853c2dec913e34e6ba37d .postImageUrl , .u2577350798e853c2dec913e34e6ba37d .centered-text-area { min-height: 80px; position: relative; } .u2577350798e853c2dec913e34e6ba37d , .u2577350798e853c2dec913e34e6ba37d:hover , .u2577350798e853c2dec913e34e6ba37d:visited , .u2577350798e853c2dec913e34e6ba37d:active { border:0!important; } .u2577350798e853c2dec913e34e6ba37d .clearfix:after { content: ""; display: table; clear: both; } .u2577350798e853c2dec913e34e6ba37d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2577350798e853c2dec913e34e6ba37d:active , .u2577350798e853c2dec913e34e6ba37d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2577350798e853c2dec913e34e6ba37d .centered-text-area { width: 100%; position: relative ; } .u2577350798e853c2dec913e34e6ba37d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2577350798e853c2dec913e34e6ba37d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2577350798e853c2dec913e34e6ba37d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2577350798e853c2dec913e34e6ba37d:hover .ctaButton { background-color: #34495E!important; } .u2577350798e853c2dec913e34e6ba37d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2577350798e853c2dec913e34e6ba37d .u2577350798e853c2dec913e34e6ba37d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2577350798e853c2dec913e34e6ba37d:after { content: ""; display: block; clear: both; } READ: Self-Description: Coming to the Philippines from Korea EssayBibliography:

Disaster Recovery Plan for Organization †Free Samples to Students

Question: Discuss about the Disaster Recovery Plan for Organization. Answer: Introduction Disaster Recovery Plan can be expressed as a document process or set of procedures to recover and to protect the details of business organization and its IT infrastructure to be aware of tending a disaster or disruptive events. Disaster can be arising in any situation i.e. power failures, IT system crashes, supply chain problems or it can be a natural calamity. Organizations sometimes ignore or avoid the disruptive event but it cannot be ignored for long term. In an organisation to avoid the disasters careful planning and strategies should be planned to get it minimized from the disaster. The main object to avoid the disaster is the data loss of an organisation and downtime (Phillips, 2015).It is necessary to maintain the business continuity plan which is generally falls within the several issues regarding costs constraints. It generally arises where business lack in achieving the targets and the requirements regarding to the main objects which need to be fulfilled. An organization n eed to set the objectives and the strategies to avoid the disaster. The best solution making in consideration is to keep the initial cost, transferring of data cost and the cost of data. To identify the type of risk occurred and to evaluate need to be identified the cost failures and how to identify the profitability from the occurrence of a disaster. In the given time it is essential to restore the services and to recover the valuable data. It plays a vital role to perform an action so as to avoid the disaster occurred. A well designed format should be created so that significant future event or problems may not arise in future. It is also known as Plan B, as it is an alternative action being taken if the expected targets generally fails to materialize. It has become the necessity to make the contingency plan as the main priority. Answer 1: Threats that could impact any of the important data are: Misuse of staff details Organization database Information regarding customer records and billing information Progress report or dashboards of individual user. Unwanted files from access to an internet usability Department of Finance which is affected because of its billing information and their financial reports. Answer 2:The applications and files that you will backup: Recovery of Database- It is also termed as Application- aware backups. It is necessary and good for backing up of applications and databases. It usually includes various features like independent retention schedules and automated maintenance. Tape Drives- These are the most commonly used, because of the most common backup devices. It basically uses magnetic tape cartridges to store data, but it has one disadvantage that these are not highly reliable. Tape drivers are fairly slow, and eve its selling price is low in cost (Cook, 2015). System Imaging-It captures everything that is placed on servers disk like files, programs, operating system, etc. The best suitable way of restoring the system images is when it is capable before is shut down and restore the whole data on daily basis. Recovery of Desktop security- The protection of business security offers simple and affordable desktop security which usually aims to protect against the malicious activities and dangerous threats. It basically shields desktops and servers from virus attacks and quickly recovers desktops from the event of failures (Haddow, Bullock, and Coppola, 2017). Backup of Dashboards- When you are logged out from the web; you can directly log in and can recover the files present on the dashboard like document file or report. This allows you to recover all the work and allow you to analyse and editing to a file. Backup of Storage Location-It keeps the copy of disinfected or those files who are not harmed from any threat or malicious activities. Its main feature is to restore all the possible data to process the objects at any time. Answer 3:Which, if any, data listed as important may be subject to legislative or regulatory constraints All organization has some data collection and release activities that are followed by some legal rules, regulations and legislative authorizations. Some of these are: Administrative Barriers- They are basically bounded with the limited data sharing. Security concerns and regulations required to use the specific software for circulating of information so that these requirements can secure data and computer systems. Data Incompatibilities- Various resources are needed for the manipulation, coding and transmitting of data within the organization. It can be limited because of user friendly data information tools or it can be detailed documentation. Data Sharing Guidance- Lack of standard languages are processed related to the sharing of the data. It has legally served the data policies and procedures within the organizations because of its inconsistent data researched by the policy community. Its main roles is to provide the data to its partners for the public purposes because of balancing of privacy concerns but some are not familiar with it so Experts and resources have the knowledge for creating the agreements with then but are not easily shared (Snedaker, 2013). Day Tape # B/Up Type Location Comment Archive Monday HPC7976A Full Backup USA Backup Type Daily Tuesday HPC7975A Incremental USA Backup Type Daily Wednesday 6935G Incremental USA Backup Type Daily Thursday 6920G Incremental USA Backup Type Daily Friday 6935Z Incremental USA Backup Type Daily Saturday HPC7976A Incremental USA Backup Type Daily Sunday HPC7975A Incremental USA Backup Type Daily Day Tape # B/Up Type Location Comment Archive Monday 6935G Full Back UK Storage Type Weekly Tuesday 6920G Incremental UK Storage Type Weekly Wednesday HPC7975A Full Back UK Storage Type Weekly Thursday 6935Z Incremental UK Storage Type Weekly Friday HPC7975A Full Back UK Storage Type Weekly Saturday 6935Z Incremental UK Storage Type Weekly Sunday HPC7976A Full Back UK Storage Type Weekly Day Tape # B/Up Type Location Comment Archive Monday 6935Z Incremental USA Backup Type Daily Tuesday HPC7975A Full Back USA Backup Type Daily Wednesday 6920G Full Back USA Backup Type Daily Thursday 6935G Incremental USA Backup Type Daily Friday HPC7976A Full Back USA Backup Type Daily Saturday 6935Z Full Back USA Backup Type Daily Sunday 6935G Incremental USA Backup Type Daily Day Tape # B/Up Type Location Comment Archive Monday HPC7976A Full Back UK Storage Type Monthly Tuesday 6935G Full Back UK Storage Type Monthly Wednesday 6935Z Full Back UK Storage Type Monthly Thursday 6920G Full Back UK Storage Type Monthly Friday HPC7976A Full Back UK Storage Type Monthly Saturday 6920G Full Back UK Storage Type Monthly Sunday HPC7975A Incremental UK Storage Type Monthly (Source: By Author) Saving Time and Spending Time- It need patience for solid backup plans which requires the investment of time and money, but its cost is very less according to the tasks which are not sure even that whether backup exist or not. It usually happens that the organization generally face the power and internet failures. Data loss is very expensive- Data loss of organisation is a big loss specially to the small business, because the resources and the technology required to recover the data is very expensive so it is essential to prevent the data for future occurrences Nature is Unpredictable- It is unpredictable to the nature, so it is necessary to plan the business continuity because if any kind of disaster calamity occurred, it would be bad impact on business profit, productivity loss etc. It is necessary to have a regular backup for the vital insurance against a data loss. Network backup or server only- It is necessary to back up the entire network and it must have the storage devices attached to certain servers where a business organisation can keep or an individual user can copy their important files from it. If it has more clients attached to the single server than the costs of the backup recovery would be less. Server upgrades are a snap- To restore a full system every couple of years, we can just use the system state backup to restore to a new operating system. It is easy to access and restore the business critical data in one project (Young, 2016). Reasonableness- A Company need not to manage every possible risk just because not all the risk is reasonable to manage. It is basically the test that can be applied to determine whether the risk can be controlled. It is derived from the reasonable person standard in law. Balancing Risk and Cost-The cost charge to manage or control the risk must be balanced against the impact value. The cost is basically balanced according to its actual monetary values if they are available. While there is another form to balance the costs using relative values such as low, medium and high (Strong and, 2011). Role-based Perceptions of Risk-In personnel not all the ideal people will understand the threat to a companys if risk is not managed. One of the most challenging tasks with the effective risk management is to achieve a proper balance between the security and usability. Balanced security and Usability- One of the challenging task with effective risk management is to achieve a proper balancing of system usability and security. Risk Identification Techniques- It is basically to learn and identify the risks occurred. Losses are occurred generally when the threat exposes vulnerability. There are 3 steps: Identify Threats Identification of vulnerabilities Calculate the Livelihood of a threat References Cook, J., 2015. A six-stage business continuity and disaster recovery planning cycle.SAM Advanced Management Journal,80(3), p.23. Haddow, G., Bullock, J. and Coppola, D.P., 2017.Introduction to emergency management. Butterworth-Heinemann. Johnson, L.A. and Mamula-Seadon, L., 2014. Transforming governance: how national policies and organizations for managing disaster recovery evolved following the 4 September 2010 and 22 February 2011 Canterbury earthquakes.Earthquake Spectra,30(1), pp.577-605. Phillips, B.D., 2015.Disaster recovery. CRC press. Sahebjamnia, N., Torabi, S.A. and Mansouri, S.A., 2015. Integrated business continuity and disaster recovery planning: Towards organizational resilience.European Journal of Operational Research,242(1), pp.261-273. Snedaker, S., 2013.Business continuity and disaster recovery planning for IT professionals. Newnes. Strong C. K and Shane S. J, 2011. RISK MITIGATION STRATEGIES FOR OPERATIONS AND MAINTENANCE ACTIVITIES. Available at: https://www.intrans.iastate.edu/reports/tr-627_risk_mit_w_cvr2.pdf Accessed on:30th August 2017 Young, S., 2016. Disaster Recovery 5 and Business Continuity of SCADA.Handbook of SCADA/Control Systems Security, p.115