advice - Blog - Global Risk Community2024-03-29T01:58:07Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/adviceTop 5 Workplace Safety Tips from Industry Expertshttps://globalriskcommunity.com/profiles/blogs/top-5-workplace-safety-tips-from-industry-experts2019-12-12T03:00:00.000Z2019-12-12T03:00:00.000ZShine Colcolhttps://globalriskcommunity.com/members/ShineColcol<div><p><span>Workplace safety tips—you’ve heard tons by now, and they’ve probably told you what you know or what you’re already doing. Although this topic has been discussed many times before, workplace safety shouldn’t be taken lightly—especially by people in leadership. We interviewed experts across various industries and summarized their advice into 5 workplace safety tips:</span></p><p></p><p><span style="font-size:14pt;"><strong>1. Never assume the safety of your workplace</strong></span></p><p><i><b>Every 7 seconds, a worker is injured on the job.</b></i></p><p><span>Atty. Brett Holubeck practices labor and employment law at Texas-based </span><a href="https://alaniz-law.com/" target="_blank"><span>Alaniz Law & Associates</span></a><span>. He shared staggering numbers about the state of U.S. workplace safety.</span></p><p></p><p><span><i>“On average, there are </i></span><a href="https://www.osha.gov/oshstats/commonstats.html" target="_blank"><span><i>more than 14 deaths every day</i></span></a><span><i>. These numbers represent real people whose lives and their family’s lives have been changed, sometimes forever.”</i></span></p><p></p><p><span>Holubeck also runs the </span><a href="https://texaslaborlawblog.com/" target="_blank"><span>Texas Labor Law Blog</span></a><span> to help companies resolve common issues in the workplace. We asked him, </span><span><i>“Who do you think should've taken responsibility when a workplace injury, incident, or death occurred—the worker(s) or the management? Why?”</i></span></p><p></p><p><span>He said that it depends on the nature of the incident, but according to his experience, it seems that companies should take more responsibility about workplace safety. He continued,</span></p><p><i>“If a worker causes an accident and is responsible for the accident, then they should take some responsibility. Sometimes, a worker fails to follow the proper procedure, is drunk or high, or simply careless and causes an incident that leads to an injury or death.<span> </span><b>The company is<span> </span></b></i><i><b>still</b></i><i><b><span> </span>responsible</b><span> </span>in these situations and is liable for the injury or death. Sometimes,<span> </span><b>the company did not do enough</b><span> </span>in these situations to prevent incidents such as failing to train supervisors and employees to recognize the signs of impairment.”</i></p><p></p><p><span>In other cases when the company is at fault, Holubeck said that the company may have failed to inspect equipment in accordance with the requirements to ensure that the equipment was in good condition, failed to train its employees properly, or had outdated or insufficient procedures.</span></p><p></p><p><span><i><b>Even when the workplace injury or death is completely an accident, and no one is directly responsible, the company may still be liable for insurance purposes.</b></i></span></p><p></p><p><span>What’s one of his workplace safety tips for the management? Review every incident carefully to determine how to prevent a similar incident in the future. You can start by going through the </span><a href="https://blog.safetyculture.com/industry-trends/6-most-commonly-overlooked-workplace-safety-practices" target="_blank"><span><i><b>6 Most Commonly Overlooked Workplace Safety Practices</b></i></span></a><span>.</span></p><p></p><h3><span style="font-size:14pt;"><strong>2. Consider the lesser-known “Unsafe Workplace Costs”</strong></span></h3><p><span>Of course, you know how expensive workplace injuries and deaths can be for the organization, but there are other underlying repercussions of cultivating unsafe working conditions. </span><span>Unsafe Workplace Costs </span><span>are the avoidable costs companies expose themselves to when they allow their workplace to be unsafe.</span></p><p></p><p><span>Andrew Blasi serves as a Director at </span><a href="https://www.crowell.com/" target="_blank"><span>Crowell and Moring International</span></a><span> based in Washington, D.C.–a leading international trade and regulatory affairs consulting firm. He shared,</span></p><p><i>“Companies that do not provide safe working conditions for their employees are<span> </span></i><i>l<b>ess sustainable</b></i><i><b><span> </span>in a global marketplace</b>. Their customers will turn to competitors, as well as their most talented employees who are looking for a safe place to work.</i><i>”</i></p><p></p><p>Holubeck concurred that the companies that fail to take safety seriously<span> </span><b>will not grow</b><span> </span>the same as companies that do value safety and<span> </span><b>will fail<span> </span></b>at a higher rate.</p><p></p><p><span><i><b>No one wants to work for a company where they do not feel safe.</b></i></span></p><p></p><p><span>You can read more of Blasi’s workplace safety tips </span><span>below</span><span>, but for now, </span><a href="https://www.englishblinds.co.uk/" target="_blank"><span>English Blinds</span></a><span> Safety Manager Sam Thomas revealed </span><span>the longer-term and more acute impacts of workplace injuries and deaths</span><span>. He explained,</span></p><p><i>“They are often very hard to quantify over and above the obvious, and are often connected to the mental health of the employees involved; those who witnessed it, those who tried to assist in the aftermath, and those that might have been able to prevent it.</i><b><i><span> </span>Guilt</i></b><i>,<span> </span><b>survivor’s guilt</b>, and even<span> </span><b>PTSD</b><span> </span>have been reported in the wake of serious workplace incidents and injuries and can, in some cases, result in people close to the incident itself feeling unable to return to their specific workplace, or even changing careers entirely.”</i></p><p></p><p><span>If you need more reasons </span><a href="https://blog.safetyculture.com/safetyculture-news/mental-safety-work" target="_blank"><span><i><b>Why Mental Health Needs to be in Your Workplace Agenda</b></i></span></a><span><i>, </i></span><span>there you go. This emphasis on </span><span>employee health</span><span> in terms of workplace safety will continue to grow, since it started becoming a trend in 2017.</span></p><p></p><p><span>Moreover, Thomas said that gaining a reputation for creating or failing to prevent a dangerous working environment will naturally have a knock-on effect that might cause them </span><span><b>problems with recruitment</b></span><span>, lead to </span><span><b>hostility from the local community</b></span><span>, and mean that the business suffers in more tangible ways such as </span><span><b>insurance premiums and liability coverage</b></span><span>.</span></p><p></p><p>Holubeck added,<span> </span><i>“It is<span> </span><b>very expensive</b><span> </span>for any company to have an injury or death.<span> </span></i><a href="https://injuryfacts.nsc.org/work/costs/work-injury-costs/" target="_blank"><span><i>In 2017</i></span></a><i>, the average cost for a work-related injury that required medical consultation was $39,000 and the cost per death was $1,150,000.”<span> </span></i>You can be certain that those costs have increased by now, so knowing the<span> </span><b><a href="https://blog.safetyculture.com/industry-trends/types-of-injuries-and-workplace-illnesses-that-qualify-for-workers-comp" target="_blank"><span><i>Types of Injuries and Workplace Illnesses that Qualify for Workers Comp</i></span></a><i>ensation</i></b><span> </span>can help you stay on guard.</p><p></p><p>He recalled based on his experience,<span> </span><i>“<b>There are some companies that skirt the law and fail to give employee safety the value that it deserves. Those companies eventually run into trouble that could have been prevented.”</b></i></p><p></p><h3><span style="font-size:14pt;"><strong>3. Embrace workplace safety as an ethical responsibility</strong></span></h3><p>We asked the experts,<span> </span><i>“<b>Is workplace safety an ethical responsibility or a bureaucratic activity?”</b></i></p><p>Blasi, who facilitates many of the world’s large public-private partnerships to strengthen ethical business practices, answered,<span> </span><i>“It is an<span> </span><b>ethical responsibility</b><span> </span>for all enterprises, public or private, large or small, based in developed or emerging economies, to ensure their employees work in a safe environment.<span> </span></i><i>Compliance with law can make workplace safety a legal responsibility for employers, which<span> </span></i><i>further overlays</i><i><span> </span>the ethical responsibility.</i><i>”</i></p><p></p><p>He also said that ethical business conduct is, at its core, a principles-based or values-based approach to the way an organization operates. Ergo, companies that value the safety and well-being of their employees<span> </span><b>should</b><b><span> </span></b>make workplace safety an ethical responsibility.</p><p></p><p>With 8 years’ experience of developing and executing plans to establish a health and safety culture, Thomas answered that workplace safety is an ethical responsibility and added,<span> </span><i>“<b>that responsibility falls to everyone in the workplace.”</b></i></p><p></p><p><span>He elaborated, </span><span><i>“Every person taking responsibility means accepting and understanding the importance of their role in keeping themselves and each other safe. Once every individual is on board with this, in practice, it would mean </i></span><span><i><b>being conscientious</b></i></span><span><i> about following safety protocols, </i></span><span><i><b>being proactive</b></i></span><span><i> about identifying issues and raising them with the chain of command promptly, and </i></span><span><i><b>being willing</b></i></span><span><i> to go the extra mile if needed.”</i></span></p><p></p><p>One of Thomas’ workplace safety tips for the management is to empower and encourage workers to speak up to address safety concerns,<span> </span><i>“as it is the people on the ground who are often the first to spot an issue in the making.”<span> </span></i>Here are<b><span> </span></b><a href="https://blog.safetyculture.com/safetyculture-news/better-safety-culture" target="_blank"><span><i><b>4 Leadership Moves to Build a Better Safety Culture and Improve Employee Mindset</b></i></span></a>.</p><p></p><h3><span style="font-size:14pt;"><strong>4. Go beyond preventing incidents & mitigating risks</strong></span></h3><p>A couple of years ago,<span> </span><b>51%</b><span> </span>of employees said that the management does only the minimum required by law to keep employees safe. Does more than half of your organization<span> </span><b>still</b><span> </span>share the same sentiment about you?</p><p></p><p>Although Thomas admitted that there is no sure-fire way to ensure that all types of injuries and incidents are prevented in every potential scenario, he affirmed that the<span> </span><b>majority</b><span> </span>of injuries and incidents can be prevented when everyone in the workplace takes personal responsibility for the part that they each play in doing this and when the company itself is<span> </span><b>vigilant and conscientious<span> </span></b>about creating and maintaining a safe working environment and encouraging their teams to do the same.</p><p></p><p>Holubeck claimed that many companies go beyond the regulations to ensure employee safety.<span> </span><i>“For example, some companies have their worker’s compensation insurance carrier provide free training on safety topics to employees, which also happens to<span> </span><b>lower their insurance rates</b>.”</i></p><p></p><p><span>His workplace safety tips for going beyond baseline safety are to </span><span>have a weekly or daily morning meeting</span><span> where safety is discussed and to </span><span>create a checklist</span><span> of areas and equipment that needs to be examined, when it should be examined, and a system to document that it was examined.</span></p><p></p><p>Consider digitizing your checklists and automating workflows, reports, and recordkeeping. Here’s<b><span> </span></b><a href="https://blog.safetyculture.com/iauditor-tips/roi-digital-audits" target="_blank"><span><i><b>The ROI of Digital Audits</b></i></span></a><b><span> </span></b>to help you decide.</p><p></p><h3><span style="font-size:14pt;"><strong>5. Demonstrate how you value workplace safety daily</strong></span></h3><p><i>“Companies need to f<b>ocus on creating a culture that values safety</b>, which includes regular meetings on safety, reports about accidents/injuries, and proper procedures,”</i><span> </span>said Holubeck. For companies that do not have a trained safety professional, he said that they can benefit from hiring one or assigning someone those duties, if the firm does not have the resources to hire a full or part-time employee or consultant.</p><p></p><p>Furthermore, he urged,<span> </span><i>“Companies need to<span> </span><b>help employees realize the importance of reporting<span> </span></b>(i.e. someone could be hurt) and discipline employees that fail to report a safety condition or incident.<span> </span></i>[because]<i><span> </span>Sometimes employees are afraid to report on another employee that failed to follow safety procedures properly or appears to be intoxicated.”</i></p><p></p><p>According to Thomas,<span> </span><b>creating a cohesive team that works well together</b><span> </span>also supports a safe working environment, as each member of the team is personally invested in the others and will be committed to playing their part in keeping the workplace and each other, safe.</p><p></p><p><i>“It all comes down to<span> </span><b>valuing your employees,</b><span> </span>and this is a constantly evolving process, meaning employers should find increasingly more ways to foster workplace safety</i><i>,”</i><span> </span>said Blasi.</p><p>He continued,<span> </span><i>“While there is still more work to do around the world to strengthen workplace safety, the environment is improving, and I believe this trend will continue so long<span> </span><b>as employers make workplace safety a key component of their values</b>.</i><i>”</i></p><p></p><p><span><i>[Editor's Note: This article is originally published in the <a href="https://blog.safetyculture.com/industry-trends/workplace-safety-tips" target="_blank">SafetyCulture Blog: Top 5 Workplace Safety Tips from Industry Experts</a>]</i> </span></p></div>What’s the relation: Psychology and Lifehttps://globalriskcommunity.com/profiles/blogs/what-s-the-relation-psychology-and-life2019-05-28T11:46:18.000Z2019-05-28T11:46:18.000ZTanya Sharmahttps://globalriskcommunity.com/members/TanyaSharma<div><p><span style="font-size:12pt;">The old and most current puzzle of humankind is awareness. The researchers and scholars have been working, considering and examining on it since the development of humanity however the more they look through the less they think about awareness.</span></p><p><span style="font-size:12pt;">Be that as it may, there is a great deal that they have found out about awareness and have spread their insight about it on the planet. Here we will endeavor to clarify the amount we have found out about the greatest riddle of the world, our awareness and its impact on our spirit.</span></p><p><span style="font-size:12pt;">Awareness is the fire that keeps our spirit alive. Much the same as the acclaim of light rises from the wick and abruptly edifies the entire room, our awareness originates from our spirit and elites our psyche in something so enlightening that can't be analyzed or clarified through rationales of the world.</span></p><p><span style="font-size:12pt;">Our awareness is past sensible reasons and it is something that must be felt. Nobody can clarify his awareness and the arrangements given by it to determine the contentions of life. Researchers are unfit to coordinate with the scholarly dimension of logicians who find out about awareness.</span></p><p><span style="font-size:12pt;">The reasoning of awareness takes it past five faculties and bodes well that is our directing soul in each circumstance. The cognizant personality is the aftereffect of our presentation, experience and engrossed contemplation that go past our physical and mental breaking points. Here we will endeavor to break down remarkable highlights of awareness that have been broke down by the specialists who have given their time and life in investigating the unexplored.</span></p><p><span style="font-size:14pt;"><strong>Remarkable highlights of Awareness</strong></span></p><p><span style="font-size:12pt;">The idea of awareness is complex to the point that it is hard to characterize it in words. Be that as it may, we have endeavored to accumulate a few qualities characterized by the recognized identities on premise of their musings and individual encounters throughout everyday life.</span></p><ul><li><span style="font-size:12pt;">Our awareness is the main thing that stays with us for our life. we live with the awareness from our introduction to the world till death and there is no importance or presence of human-like without awareness.</span></li><li><span style="font-size:12pt;">Consciousness is created with our age, learning, and The more we endeavor to support our spirit the better and more grounded awareness we have.</span></li><li><span style="font-size:12pt;">Like our spirit awareness is additionally a unified piece of our life. We can't exchange or transplant awareness in another person, it will stay unblemished with us. In any case, we can train a few rudiments of life to others created by our awareness by giving cognizant.</span></li><li><span style="font-size:12pt;">Consciousness encourages us in getting mindful of the outer world and the dangers identified with individuals have encountered the notice circumstance when their awareness have made them mindful of coming circumstance or dangers and they spared themselves by putting stock in it.</span></li><li><span style="font-size:12pt;">There are a few conditions of awareness like sluggishness, rest, dynamic awareness yet together they all are a piece of the identity that we have and helps the individual in keeping his spirit unblemished.</span></li></ul><p><span style="font-size:12pt;">Our awareness is a necessary piece of our spirit and it helps an individual in building up his identity.We are something a direct result of our awareness and the significance of life closes without it. Human personality and soul are the greatest secret of the world and awareness is an essential piece of it. </span></p><p><span style="font-size:14pt;"><strong>How it affects our Life? </strong></span></p><p><span style="font-size:12pt;">Most of the time, we humans, keep thinking Why we have to live a life and is there a specific way of doing that. Our brain forces us to find a definitive meaning of life and this is the most common reason for most of the people to introspect their inner spirit. </span></p><p><span style="font-size:12pt;">Well it is nothing wrong in finding a reason for your life or actions but most of the time this creates problems for many. It is possible that you might not be able to judge the situation or find answers resulting in irritation and depression. </span></p><p><span style="font-size:12pt;">To skip all this mess and a tough time for your brain you can go for motivational sessions or psychological courses which will help you to tackle a similar situation in a more professional and different manner. </span></p><p><span style="font-size:12pt;">Your brain and the psychological thoughts that go in it makes a huge difference in our lives which is why you should avoid thinking too much and rather deal with patience. </span></p><p><span style="font-size:12pt;">This is applicable specially in case of all the entrepreneurs who in the race of <a href="https://www.quickcompany.in/one-person-company" target="_blank">settling their businesses</a> try to stress a lot and miss out on the real happiness in life. </span></p><p><span style="font-size:12pt;">It is rightly said Your Brain is the king of your Body. </span></p></div>Busted: Solutions to the Ultimate Challenges faced by Entrepreneurshttps://globalriskcommunity.com/profiles/blogs/busted-solutions-to-the-ultimate-challenges-faced-by-12019-03-14T13:06:15.000Z2019-03-14T13:06:15.000ZTanya Sharmahttps://globalriskcommunity.com/members/TanyaSharma<div><p>In today’s competitive business world, no one can afford to make mistakes. Well, this is pretty common with the new and young entrepreneurs who lack expertise and skills required to stay in the market.</p><p>As a writer, I have observed that most of us lack on the initial stages of development in a business which is WHY most of the start-ups fail before time. To solve this problem and help your business grow I have concluded my advice for all the young minds.</p><p>Let’s begin.</p><p><strong>Lack of a Direction </strong></p><p><strong><img src="https://katenasser.com/wp-content/uploads/iStock_000005651286HumanoidWithArrows_Small-e1460565032188.jpg" alt="Image result for lack of direction" class="align-center" /></strong></p><p>Even if you are a fresher or newbie in the business world, don’t worry. You can always sit back and analyse what is going wrong.</p><p>It is necessary to always be on track and hold on to the vision of your business as all of your activities align with the motive with which you <a href="https://www.quickcompany.in/">initiate a business.</a> The mission and vision you have should justify your efforts and of the others working with you.</p><p>Plan your strategies well in advance and decide the course of action accordingly. Have a solid viewpoint and keep up the spirit which made you start the business.</p><p><strong>Incomplete or No Research </strong></p><p><strong><img src="https://www.ntsad.org/images/research/research-illustration2.jpg" alt="Image result for no research" class="align-center" /></strong></p><p>Do not rely on your outsourcing partners or people you work with completely. Take out some time for your business and analyse your competitors, market trends and the growth of your business.</p><p>You can also make changes in your business plan according to the situation and ease the pressure. Set your priorities clearly and never mix up two or more things. Keep your to-do list short for the time and try to stick by it.</p><p>Build your strategies around your research or analysis and try to focus on your competitors. The way they handle a similar situation or may be even much complicated will provide you an insight of dealing with such stuffs and survive the market competition.</p><p><strong>The Perfect Candidates </strong></p><p><img src="https://s3.amazonaws.com/blog.v-comply.com/wp-content/uploads/2018/04/16114031/684774092.jpg" alt="Image result for employees" class="align-center" /></p><p>It can be difficult to search for your desired candidate among such a large population. Here, you need to adapt a ‘customer centric approach’. Decide the job role and its responsibilities according to the candidate you wish to appoint and keep all the details clear.</p><p>If you are using a third party service to hire candidates for your business or company, be specific about your requirements. Take time to shortlist the candidates and try to understand their profile and character.</p><p>Be vocal about all the expectations to the candidate during the initial hiring proceedings so that both the parties are aware of what they suppose to deliver. </p><p><strong>Mastering the Buyer’s Intent </strong></p><p><strong><img src="https://nichehacks.com/wp-content/uploads/2014/01/buyer-keywords-list.jpg" alt="Image result for buyers intent" class="align-center" /></strong></p><p>Entrepreneurs must always work in the direction of building a strong relationship with their customers. Thank them for the support and acceptance they have given to you and your business.</p><p>Focus on making or promoting such products or services which help your customers solve their problems. Customers are the only ones who can make or break any business, and if you have a strong relationship with them, then they will always support you even in your bad times.</p><p>But to achieve this it is important to operate your business not just for profits but for your customers. Understand your buyer’s persona and what they need the most.</p><p><strong>Be patient and Consistent </strong></p><p><strong><img src="https://www.handelsblatt.com/images/the-patient-people-are-going-to-need-a-bigger-net-/23576858/4-format2020.jpg" alt="Image result for patient people" /></strong></p><p>When you do not feel like anything’s going right or, there’s a rough patch in your business do not let yourself down. Be in the company of people who keep you motivated and positive. </p><p>Keep your mind diverted from the negative thoughts and try to focus on how you can improve the situations. Stay away from people who criticize you and want to put you down.</p><p>Work on your skills and let your actions speak for you. If the situations are taking over you, then spend some time in peace or read motivational books. Prove your worth, and all good will come to you.</p><p><strong>Planning the finances </strong></p><p><strong><img src="http://www.magnatec-solutions.com/wp-content/uploads/2013/04/Financial-Planning.jpg" alt="Image result for finance planning" class="align-center" /> </strong></p><p>To make sure that your start-up or business does not end up in the middle of nowhere, start planning from today. Yes, this is the ultimate step of saving yourself from a situation of crisis.</p><p>Make notes of all the inflow and outflow of cash and make a list of how, when and where to invest. Monitor your expenses and minimize their costs. For this, you can also take the help of the different accounting systems to save time and effort. </p><p>Maintain a healthy relationship with all of your vendors and creditors. Keep everything on record and clear from the initial financial dealing.</p><p> </p></div>marcus evans to Host the 2nd Edition Digital Transformation in Wealth Management Conference on September 24-26, 2018 in San Franciscohttps://globalriskcommunity.com/profiles/blogs/marcus-evans-to-host-the-2nd-edition-digital-transformation-in2018-05-03T15:14:36.000Z2018-05-03T15:14:36.000ZAmanda Pinkhttps://globalriskcommunity.com/members/AmandaPink<div><p><strong>marcus evans</strong> will host the <strong>2<sup>nd</sup> Edition Digital Transformation in Wealth Management Conference on September 24-26, 2018 in San Francisco.</strong> This conference will provide wealth managers with practical tools for developing a consistent and firm-wide digital adoption strategy allowing them to expand their client base and offerings. Industry experts will assess the best practices for leveraging and scaling robo-advice alongside traditional advice and how Artificial Intelligence (AI) and new digital capabilities can enhance financial planning and client onboarding processes.</p><p> </p><p><strong>Learn From Key Practical Case Studies:</strong></p><ul><li><strong>Charles Schwab</strong>will discuss where the wealth management industry is heading</li><li><strong>Invesco</strong> will assess the best practices for promoting a culture shift in wealth management</li><li><strong>BMO Financial Group</strong> will examine methodologies for improving client onboarding</li><li><strong>AgentRisk</strong> will explore where AI is bringing the most value to wealth managers</li><li><strong>CUSO Financial Services</strong> will evaluate practices for leveraging robo advice alongside traditional models</li></ul><p> </p><p><strong>Key Speakers Include:</strong></p><ul><li>Tobin McDaniel, Senior Vice President, Digital Advice, <strong>Charles Schwab</strong></li><li>Donie Lochan, Managing Director, Chief Technology Officer, Global Head of Technology, <strong>Invesco</strong></li><li>John Olerio, Senior Vice President, Director, Investment Services, <strong>Webster Investments</strong></li><li>Jon Vlachogiannis, Founder, <strong>AgentRisk</strong></li><li>Richard Keltner, Senior Vice President, Advisory Services, <strong>CUSO Financial Services </strong></li></ul><p> </p><p>For more information, please visit: <a href="http://bit.ly/2HJFBhf">http://bit.ly/2HJFBhf</a> or you can contact Amanda Pink at apink@global-fmi.com.</p><p> </p><p><strong><em>marcus evans</em></strong> <em>conferences annually produce over 2,000 high quality events designed to provide key strategic business information, best practice and networking opportunities for senior industry decision-makers.</em></p></div>Useful Resources for Financial Literacyhttps://globalriskcommunity.com/profiles/blogs/useful-resources-for-financial-literacy2014-06-12T22:19:09.000Z2014-06-12T22:19:09.000ZTal Yampolskyhttps://globalriskcommunity.com/members/TalYampolsky<div><p>The purpose of this blog post is to stress the importance of financial education (literacy) by gathering valuable resources that will help both youth and adults get a better understanding of finance.</p><p></p><p>I chose to write about financial literacy as lack of it represents the basis for most of the legislation and regulation initiatives. With products getting more complex the consumers are more vulnerable to mis-selling. Also, this is no secret consumers may show irresponsibility in their financial decisions.</p><p></p><p>I often tend to compare financial literacy to driving competency. The authorities can enhance the infrastructure, regulate speed and enforce the behaviour on the road, put more signage, strengthen the license eligibility process and expand police presence but it won't necessarily be more effective than the driving education provided by parents, schools, authorities or the media.</p><p></p><p>A <a href="https://www.moneyadviceservice.org.uk/files/habits-set-by-age-seven-pr-220513-final.pdf">study</a> conducted by the <a href="https://www.moneyadviceservice.org.uk/en">Money Advice Service (UK)</a> confirmed that the adult money habits are set by the age of seven years old. The study showed that by the age of seven most children recognize the value of money, understand that money can be exchanged for goods and are capable of complex functions such as planning ahead and comparing between choices. Despite the conclusion above, this study also shows that children under the age of eight haven't developed an understanding of the differences between ‘luxuries’ and ‘necessities’.</p><p></p><p>Another <a href="http://regradar.com/talk.php?id=48668&FINRA-Foundation-Study-Finds-Millennials-Struggle-Financially">study</a> conducted by the <a href="http://www.finrafoundation.org/">FINRA Investor Education Foundation (USA)</a> showed that young millennials (ages 18 to 26) display low level of financial literacy, engage in problematic financial behaviours and express concerns about their debt.</p><p></p><p>It hasn't been a surprise that the <a href="http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf">Financial Crisis Inquiry Report</a> concluded a combination of excessive borrowing, risky investments and lack of transparency put the financial system on a collision course with the 2008 crisis. In conjunction with other outcomes, the report concluded that households were left vulnerable to financial distress as their mortgage debt doubled while wages remained the same.</p><p></p><p>The timing of this article is not random as we're approaching the summer break period across the world. Youngsters are going to start their summer vacation and some of them will be starting their summer jobs.</p><p></p><p>The <a href="http://www.consumerfinance.gov/">CFPB (US)</a> addressed this matter in their <a href="http://regradar.com/talk.php?id=152485&Summer-jobs-are-a-perfect-time-to-build-financial-skills-for-young-people">recent publication</a> stating that "For young people, particularly those between the ages of 16-24 who may be entering the workforce for the first time, developing good money management skills is critical. Without the necessary financial knowledge and skills, many will not develop money management habits, trapping them in a future with limited savings, high debt, or compromised credit."</p><p></p><p>I believe with appropriate financial education some people could have avoided financial incapability. Therefore, I decided to gather several resources that can help households (both youngsters and adults) who want to learn and teach finance. This list can be also used by <span>financial institution who want to provide added-value services and organizations that want to offer valuable educational resources.</span></p><p></p><ul><li><a href="http://www.moneysense.gov.sg/">MoneySENSE</a> - A national financial education program</li><li><a href="http://www.consumerfinance.gov/askcfpb/search/?selected_facets=audience_exact%3AParents&selected_facets=tag_exact%3Afinancial+education">ask cfpb</a> - Ideas for how parents can talk to their kids about money</li><li><a href="http://www.finrafoundation.org/">FINRA Foundation</a> - Provides knowledge, skills and tools necessary for financial success</li><li><a href="http://www.consumer.ftc.gov/features/feature-0022-financial-educators">FTC Consumer Information</a> - Articles, videos and blog posts about financial topics</li><li><a href="http://www.fsa.gov.uk/pubs/other/young_adults.pdf">FSA</a> - Case studies of organisations assisting young adults</li><li><a href="http://www.usfinancialcapability.org/quiz.php">FINRA Quiz</a> - Financial Literacy Quiz</li><li><a href="http://www.centralbank.ie/education/Pages/default.aspx">Central Bank of Ireland</a> - Education and resources</li><li><a href="http://moneyasyougrow.org/">Money as You Grow</a> - 20 things kids and young adults need to know</li><li><a href="http://twocents.lifehacker.com/your-guide-to-free-resources-for-improving-your-money-s-1557390942">lifehacker</a> - Improve Your Money Skills with These Free Resources</li><li><a href="http://www.360financialliteracy.org/Life-Stages">360 Financial Literacy</a> - Helping understand personal finance through every stage of life</li><li><a href="http://www.rbi.org.in/financialeducation/home.aspx#sthash.zvwJRiBq.dpuf">Financial Education</a> - Reserve Bank of India's Financial Education Initiative (Contributed by <a href="http://in.linkedin.com/pub/subramanian-sankaranarayanan/14/9a9/140">Subramanian Sankaranarayanan</a>)</li><li><a href="https://www.facebook.com/MarketechInteractive">Financial Literacy for Women</a> - Financial literacy Facebook page resources (Contributed by <a href="www.linkedin.com/in/marketechinteractive1">Gayle Barr</a>)</li></ul><p></p><p>Are you familiar with additional useful resources?</p><p></p><p><span><a href="http://regradar.com" target="_blank">RegRadar.com</a> is an online regulatory hub that collects and analyses regulatory information.</span></p></div>How the 2011 Thailand elections will affect business and travellershttps://globalriskcommunity.com/profiles/blogs/how-the-2011-thailand2011-06-02T14:25:43.000Z2011-06-02T14:25:43.000ZTony Ridleyhttps://globalriskcommunity.com/members/TonyRidley<div><h2>Introduction</h2><p>The 2011 Thailand elections will be an eventful few months for the country and businesses and travellers will be affected by the newest political climate change. If you want to know how business and travellers will be affected, then read on. In this article you will learn how recent events and the elections have affected business leaders viewpoints, travel and tourism, government agencies along with the what the next few months has in stall for everyone with exposure to Thailand. By the end of the article you will know all the key facts and have all the ingredients to make a more balanced and accurate assessment of the 2011 Thailand elections and how your business or travellers will be affected.<br />Following recent discussions and visits to Thailand, I have compiled the sum of all discussions and observations from a variety of business, government, travel and security sectors in this article.<a href="http://tony-ridley.com/wp-content/uploads/2011/05/How-the-2011-Thailand-elections-will-affect-business-and-travellers.Tony-Ridley.jpg"><img class="aligncenter size-full wp-image-1844" title="How the 2011 Thailand elections will affect business and travellers.Tony Ridley" src="http://tony-ridley.com/wp-content/uploads/2011/05/How-the-2011-Thailand-elections-will-affect-business-and-travellers.Tony-Ridley.jpg" width="615" height="380" alt="How-the-2011-Thailand-elections-will-affect-business-and-travellers.Tony-Ridley.jpg" /></a></p><h2>Business Leader’s Viewpoint</h2><p>The best way to describe the viewpoint of the majority of Thailand based business leaders is polarized. There are those that are adamant, along with their advisors, that the elections signal the end of days for sustainable business in Thailand. This group loves conspiracy theories and sees evidence in their views in every event and incident that happens within the country. Conversely, there are the ones that don’t see what all the fuss is about and believe the entire event is just a storm in a teacup with little concern for the elections or the entire state of the country. This group has also regularly been disrupted by recent historical events within the country as they just didn’t see it coming nor did they have a plan. The problem is that both groups mix with like-minded thinkers and never entertain the validity of either side’s viewpoint nor do they inject new views or opinions into their considerations or final standpoints.<br />The fact remains that much of the focus and discussions are on issues that are nothing more than inconsequential celebrity dramas. Everyone loves a good story and some juicy gossip but the reality is that not much of these conversations are either relevant to the every day situation in the country or have that much direct impact on business, business leaders or travellers. Most business leaders would be better served focusing on the day-to-day limitations and challenges in the country and how some of these upcoming election events can stress or disrupt the already present deficiencies and sub-optimal business standards within the country but for the most part it will have minimal impact on the majority of businesses and travellers.</p><h2>Travel and Tourism</h2><p>The official tourism figures for Thailand are wrong; at best they are significantly inflated. Tourist and travel numbers to the country are down. Anyone can see that main tourist areas and facilities are noticeably more quite than they should be at this time of the year and this trend has been running for several months. However, most of this is not Thailand’s fault and not related to the demonstrations and political tensions over the past couple of years.<br />Japanese tourist numbers are down due to the tsunami, middle east visitors are down due to unrest and disturbances in their region, Australian tourists are exploiting the week US exchange rate to head to areas they couldn’t previously afford and the Russian and Chinese tourists predicted to add sizable numbers to the annual travel have not materialized due largely to the fact they are not repeat visitors or only travel during narrow windows throughout the year.<br />Competition for medical tourism is increasing in the region, leaving Thailand to refocus and become more competitive in an area they once dominated.<br />All these factors combined, has resulted in significantly decreased travel numbers and providers and the industry is feeling the pinch with continuous efforts to get the numbers back up but they are not staying away because of any inherent fear.<br />Online search terms relating to Thailand and the overall security situation in Thailand indicates the majority of travel safety concerns have long passed and interest in the country remains as strong as ever over the past year.</p><h2>Police and Military Forces</h2><p>The upcoming election presents another opportunity for the police and military to re-engage in their long running opposition to each other’s role in the domestic political affairs of Thailand. Old scores have been settled in the past and opportunities to discredit the other have been exploited too. These issues and tactile events are not related to the overall safety and security within the country but do provide news worthy incidents or raise concerns to the uninitiated when a grenade attack or shooting takes place. While it is highly possible similar events will occur during the election (post pre and post election periods) it will not have a major impact on either businesses or travellers, as it hasn’t in the past 50 years this division has been taking shape.</p><h2>Monarchy</h2><p>Many are still concerned or talking about the monarchy and in particular the health of the king and a succession plan. His influence is not what it once was and many have already factored in this new influence into both financial markets and business threats. It is no secret that the King is highly revered and any decline in his health or passing will affect the country immensely but it will not trigger any major disputes or political realignments that have not already taken place or have not been in play for many years already. As to the succession issues, this will be a mere spectator drama as people and groups take sides but it will not have a great impact on the country’s business and travel landscape to any great degree, in either the short or long term.</p><h2>Wild Cards</h2><p>Demonstrations and political disputes have and will continue to provide for wild card entrants. Black shirt heavies, settling of outstanding business disputes, random acts of violence, crimes of opportunity are all possible but not part of the overall theme or related to the events taking place. Unfortunately most are unable to discount or separate these acts and see all events as parts of the whole. Unless directly related to the political outcome, business operations or travellers, such events should be assessed and identified as unrelated and decoupled from the overall view or assessment before seeking to modify any pre-prepared plans on the basis of one or more unrelated, albeit exciting, events or incidents.</p><h2>The Path to Major Disruptions</h2><p>In order for the elections to contribute to any major changes within Thailand that would affect business and travellers, there would need to be several significant indicators or events present before such a path was inevitable or plausible. These events would not be limited geographical issues such as demonstrations or small scale political disputes but widespread systemic changes to the law, business climate, personal safety, economic stability and so on. Given the time and will required to affect such changes, none of this would be an overnight scenario but would take time and present in a series of related steps with the end objective clearly telegraphed and apparent to all. Therefore, businesses, leaders and travellers would have more than sufficient time to identify the change, modify plans and respond accordingly without the unnecessary pressure of immediate or spontaneous decisions.</p><h2>Past Demonstrations Impact</h2><p>Demonstrations and disruptions are not new to Thailand, particularly to Bangkok. The economic loss and sustained business impact these events have caused have greatly reduced local, public support within Bangkok for such actions. Across the board, business owners and employees have suffered as a result of the hype and reality of past demonstrations and sporadic violence.<br />In order to get sheer numbers to attend and support specific political parties events, they have bussed most of them in from loyal jurisdictions or rural communities on promises of fee-for-attendance/support. This remains the only real way to get such numbers but increasingly locally affected business are fed up with the loss and inconvenience rallies and demonstrations have created. Not to mention the negative image the country has attracted due to the various news reports, images and occasional violence.<br />Future political action is unlikely to follow the same model and local support within Bangkok especially will be very low and likely not to be tolerated for as long as it has been in the past, by all stakeholders.<br />General awareness of the great divide between social classes or the so called haves and have nots is growing. Speed and ease of communications has guaranteed that many more Thais are aware of the existing and growing divide between the privileged and general masses. While this will be a political lightning rod for some campaigners it will not be fixed in the short term however many Thais will be increasingly more vocal and motivated to seek change if they continue to feel exploited for other’s gain.</p><h2>Strategy Versus Tactics</h2><p>Strategy should be the main concern and interest for business leaders and observation of short-term tactics the concern for travellers. Very few events have warranted the label or consideration as strategy by both sides, with most business leaders focusing too much on the isolated tactile events that have short term, minimal impact upon their various businesses. Tactics include demonstrations, violence, road closures, and political accusations. Strategy is how the business landscape and opportunity will change or look in 6 months to a year from now. Very little regarding strategy is likely to affect businesses (nor should they waste an inordinate amount of time analyzing it either) but occasional tactical issues will present which can be observed and mitigated with good planning and implementation for the most part.</p><h2>Forecast</h2><p>The Thailand election for 2011 will disappoint most. It will not bring immediate and sweeping changes for those in need, it will not resolve all the political tensions and divisions within the country and it will certainly not deteriorate into an outright civil war. There will be peaks and troughs throughout the campaign and like all campaigns around the world it will not we devoid of scandal, excitement and change. However, for the most part, this will be mere white noise for business leaders and travellers. The focus should be on filtering out what is good for news broadcasts and what is relevant or within context to your situation or events.<br />Expect lots of archive footage, narrow street scape images with the message of military oppression, high volume reporting on any and all violent acts and comprehensive calculations and predictions on just how many colored shirts are at any one location or event. Do not expect a balanced and rational view in context to the overall size of the country and how a few disrupted intersections do not indicate the collapse of a country. Expect foreigner’s opinion and views to go up and down also, but this will be in response to media stimulus or the lack of comparative information. Again, not a real indicator.</p><p><strong>Have a plan for general business continuity, know when travellers should/shouldn’t travel, pre-prepare an emergency plan for the more routine events such as power outage and denied access, consider relocation options if the need arises, map your resources and assets, monitor and track events as they relate directly to you, have a failsafe communications plan, use if often, prepare/educate your personnel and set up in advance your key requirements and resources to ensure successful business continuance and resilience.</strong></p><h2>Conclusion</h2><p>Now you understand why the 2011 Thailand elections will be an eventful few months for the country and businesses and travellers, and why they will be affected by the newest political climate change. You now know how business and travellers will be affected. Recent events and the elections have affected business leaders viewpoints, travel and tourism, government agencies along with the fact that many are almost hoping that the election will bring suffering and catastrophe to all. This is not the case, but you need to continue to monitor the situation for the distinct changes that will mark a more problematic period but it will not be widespread disruption and violence as predicted by some. Consider all this before making your business and travel decisions and ensure you have plans and resources for any and all contingencies you need to implement. For those with completed plans, consider the above advice and forecast against your current assumptions and plans and ensure they remain relevant. For those yet to plan for the events, re-read this article and make the right plans for the most plausible events and situations without wasting too much time and resources on an “end of days” scenario that is highly unlikely to occur.</p><p><a href="http://travelsafeadvicetothailand.com/">Travel Safe Advice to Thailand</a></p></div>