Day: September 5, 2019

The Principle-Agent Problem, To Manage Incentive You Have to Understand Motivation.

 

What Is the Principle-Agent Problem?  Here is some help.   https://www.youtube.com/watch?v=cpu0dw9VY2E

 

Here is our case study this week.   https://www.nbcnews.com/business/business-news/another-wells-fargo-ceo-steps-down-about-damn-time-longtime-n988671

 

This week we look at the principle-agent problem and what when wrong at Wells Fargo. After another CEO Tim Sloan the CEO who was suppose to restore the bank’s reputation stepped down March 28, 2019 there are still huge questions. https://www.americanbanker.com/news/fed-wont-lift-wells-fargo-cap-until-deficiencies-are-fixed-powell

 

What about the incentive system resulted in massive creation of fake accounts by the retail operation and why did it only get worse from there? As you dig into this remember Froeb’s rule from Chapter 1″Avoid the temptation to think about the problem from the employee’s point of view…{and ask} how does the organization give employees enough information to make good decisions and the incentives to do so?” page 8

Our society, economy, and critical infrastructures have become largely dependent on computer networks and information technology solutions. Cyber attacks become more attractive and potentially more disastrous as our dependence on information technology increases. According to the Symantec cybercrime report published in April 2012, cyber attacks cost US$114 billion each year. If the time lost by companies trying to recover from cyber attacks is counted, the total cost of cyber attacks would reach staggering US $385 billion.

 

Why cyber attacks flourish? It is because cyber attacks are cheaper, convenientand less risky than physical attacks  Cyber criminals only require a few expenses beyond a computer and an Internet connection. They are unconstrained by geography and distance. They are difficult to identity and prosecute due to anonymous nature of the Internet. Given that attacks against information technology systems are very attractive, it is expected that the number and sophistication of cyber attacks will keep growing. Many cybersecurity experts believe that Deception is the key choice of weapon to carry out malicious intends to breach cybersecurity efforts in the cyberspace 

 

Assignment : 

 

Select and research one of the many types of Deceptions and briefly provide a description, deployment (methods) and countermeasures.

 

• Denial-of-service attacks
• Trojan horses
• Phishing
• Etc.

 

Conduct your own research and post a relevant “short” summary of your findings. ( Stick to current data, not older than five years ). Use not more than three (3) references.

 

 

 

 

 

Text Book Link:- https://drive.google.com/open?id=1TnSZFxVnr2ePMyUgvqV9uGOe8N02Klun

From ancient drum beats to e-mail, methods of communications have progressed astronomically. However, no matter the method of delivery, communications still face detrimental barriers, such as misinterpretation, jargon, slang, and even poor pronunciation and dialect. It is not enough to be able to speak more than one language; it is necessary to be able to reason and convince in second or third languages. A breakdown in communication is always the first rationalization when errors are made or a directive is misinterpreted. Added to the linguistic problems, bureaucratic stacks and layers of personnel, offices, bureaus, and agencies will cause confusion, misdirection, and revision of documents and messages.

 

Address the following in a 4-page paper:

 

• What is the National Strategy for The Physical Protection of Critical Infrastructures and Key Assets?
  • When was it created?
  • Who created it?
  • Why was it created? Explain. 
• How are communications addressed in the strategy documentation? Explain.
• Explain the concept of the inter-relationship of infrastructure sectors.
  • How does the well-being or disruption of one sector affect the others? Explain.
    • Provide 2–3 examples of infrastructure interdependence
• What can stakeholders and industry professionals involved in the various sectors do to protect themselves and each other? Explain.
  • Consider communications, information sharing, technology, and so forth.

 

Be sure to reference all sources using APA style.

Required Resources
Read/review the following resources for this activity:

 

• Textbook: Chapter 3, 4
• Lesson
• Minimum of 1 scholarly source (in addition to the textbook)

 

Initial Post Instructions
For the initial post, pick two (2) of the following settlements:

 

• Southern colonies
• Chesapeake colonies
• Middle colonies
• New England colonies

 

Then, address the following for your selections:

 

• Compare and contrast the settlement patterns.
• What forces and ideas shaped their origin?
• Examine the influence of religion for those settlements (e.g., Puritanism, Quakers, and the Anglican Church).

 

Professor’s post: Welcome to this first discussion board, which opens Monday, Sept. 2. I’m looking forward to our conversation through this term.

 

“Writing in 1782, J. Hector St. John de Crevecoeur tried to define “the American, this new man.” He was, Crevecoeur argued, “neither a European nor a descendant of a European” but an “American, who, leaving behind all his ancient prejudices and manners, receives new ones from the new mode of life he has embraced, the new government he obeys, and the new rank he holds.” Crevecoeur presumed that America was a melting pot, that the environment created a homogeneous American culture, with similar values, beliefs, and social practices” (Kulikoff, 1991, p. 197).

 

I hope you enjoy interacting with the unique history of two of these sections of the colonies. We have our ways of defining the sections of our country today, like South or Northeast, or West or mid-West, etc. These were the general ways they referred to the areas that comprised the British colonies.

 

While there are general reasons people came to the colonies from Europe, there were more particular reasons for each section they desired to emigrate to, as you’ll see.

 

Remember to interact with the text and lesson in your responses, as well as any other authoritative sources. By ‘authoritative’, I mean sources written by experts in the discipline.

 

And just to review the discussion board requirements:

 

Post a minimum of 3 substantive posts in each graded discussion: 1 initial post and 2 follow-up posts.

 

These 3 posts must be on 2 separate days Monday through Sunday.

 

The initial post in each graded discussion must be completed by Wednesday, 11:59 p.m. Mountain Time (MT).

 

Thanks very much!

 

Reference

 

Kulikoff, A. (1991). Colonial culture. In The Reader’s companion to American history (pp. 197-201). Boston, MA: Houghton Mifflin.

 

 

 

Professor’s comment: We know that many of the colonist came over in a state of being indentured servants. A curious practice. For a period of years, perhaps three to seven, another could own your labor. Today, we have internships and apprenticeships, some paid, some not, but these are set up to be win-win relationships. Well, the indentured servant did earn something: his passage over, and he was given some room and board for that time.

 

By the way, this was not only men. Women and even children could enter a contract to serve a term of four to seven years in return for passage from Europe to the British Colonies, then room and board. During this contract, a servant could not enter a marriage, unless allowed by the owner. At the end of the contract, the owner paid “freedom dues,” which was usually some food, tools and clothes. Sometimes the servant would be given a plot of land, as part of the contract. They could not leave you with nothing (Indentured Servants, 2015).

 

These binding contracts could be inherited or sold! So an indentured servant might go from a nice overseer to a terrible one, which he/she had never anticipated. If a servant ran away and was caught, increased time would be added to the contract as punishment (Indentured Servants, 2015).

 

So it seems that selling oneself into indentured service involved some risk. Persons would not logically pursue this path unless their present circumstances were pretty awful, one would assume.

 

Reference

 

Indentured servants. (2015). Stratford Hall. Retrieved from https://www.stratfordhall.org/educational-resources/teacher-resources/indentured-servants/

 

 

 

*Required textbook: OpenStax. (2019). U.S. history. OpenStax CNX. Retrieved from https://cnx.org/contents/[email protected]:gMXC1GEM@7/IntroductionLinks to an external site.

Apply Froeb’s Analytic Method:  Who made the bad decision; what information did they have, was it good, bad, unclear; and what was their incentive? 

 

Understanding the Robinson-Patman Act.   https://www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-laws/price-discrimination-robinson-patman

 

Intel made large loyalty payments to HP in exchange for HP buying most of their chips from Intel instead of rival AMD. AMD sued Intel under the antitrust laws, and Intel settled the case by paying $1.25 billion to AMD.

 

• What incentive conflict was being controlled by these loyalty payments?
• What advice did Intel ignore when they adopted this practice?
• Why did they ignore it?

Week 5: LODD – Electrocution at Structure Fire

 

Review the NIOSH – F2005-7: Career captain electrocuted at the scene of a residential structure fire – Californiareport.

 

 

 

Did the conclusions in this report offer recommendations for future prevention of similar incidents? What relation did established regulations and standards have to the events surrounding the fatality?

 

 

 

————————————————————————————————————

 

 

 

#1

 

 

 

In this week’s forum the topic at hand describes the LODD of a career Captain who was electrocuted on February 13, 2005. This is yet another death that could have been avoided in my eyes. In the conclusion of the report multiple recommendations were giving to prevent further incidents. I think this report showed that the IC and ISO lack experience in that specific incident when dealing with electricity. I think that complacency took part in this death because after a couple close calls with the same electrical wire nobody deemed it necessary to do anything about it. When the Chief finally considered the need to fix the situation, it was a poor attempt on his part. Communications has also played a role in this incident as well. There was several missed communications during the incident. As the incident commander proper care should be taken when transmitting a message and receiving affirmation that the message was in fact received. Due to bad communication the call for the utility truck was delayed, PAR check was not conducted, and personnel left out of the loop on the surrounding hazard that waited them.

 

 

 

An important role of the ISO is to confirm that dangerous situations are avoided on scene by making sure the utilities are in fact cut off in the immediate danger zone. By not having the proper standards set in place when dealing with downed wires, it cost a firefighter his life and putting others at risk. One recommendation stated the need for an SOG. With an SOG in place everyone would be on the same page as far as keeping a certain amount of distance away from the wire. The SOG should have guidelines on how to proceed and encounter electrical hazards. 

 

 

 

Another recommendation was stated about the firefighter’s awareness of hazards that are on scene. During the incident the IC decided to let the crew members know about the electrical hazard as he saw them. This message could have been taken more seriously by being transmitted via radio communication. There was no way for the officer to know if all crew members were aware of the hazard at hand. This unfortunate death could have very much been avoided. During emergencies it can get loud and hectic but we as emergency responders should know the importance of taking it slow and just being situational aware of the danger that we can encounter.

 

 

 

Lutz, V. (2006, MAY 24). Career Captain Electrocuted at the Scene of a Residential Structure Fire – California. Retrieved from NIOSH Fire Fighter Fatality Investigation and Pervention Program : https://edge.apus.edu/access/content/group/security-and-global-studies-common/EDMG/FSMT405/NIOSH%20-%20F2005-7_California%20Electrocution%20LODD-1.pdf

 

 

 

NIOSH. (2014, May 20). Two Career Lieutenants Killed and Two Career Fire Fighters Injured Following a Flashover at an Assembly Hall Fire—Texas. Retrieved from NIOSH: https://edge.apus.edu/access/content/group/security-and-global-studies-common/EDMG/FSMT405/NIOSH%20-%20F2013-4_Flashover%20LODD.pdf

 

 

 

#2

 

 

 

Did the conclusions in this report offer recommendations for future prevention of similar incidents?

 

 

 

This is a event that needs to be address but could have been easy avoided. Electrocution is a topic covered in most of our certifications and common sense when dealing electrical hazards. Also with fire and our most common mistake is getting tunnel vision with fire and not doing a complete 360 of the situation miss certain factors like the down power line that could of also help avoid the situation as well as the like of experience of the crew with dealing with this incident types.

 

 

 

The SOGs and SOPs need to be updated and with all fire and emergencies all hazards that can be turned off and removed to prevent further damages and injuries. As always make sure communication is good with all crews and warning each when they come across issues like fallen trees and powerlines. Because like stated above we get tunnel vision with fires and sometime forget to look at the whole picture. And as firefighter we risk more than we need to risk and need to remember risk management for life and not property but try to save what we can instead of losing our crews and fellow brothers over lost property that will be replaced and a firefighter we can’t replace him to our crew or his family. ICs and crew need to do more training and classes on how to prevent further incidents like this so they can understand the risk they take over the glory of being the hero and saving all and accepting the wrong risk.