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What is Due Diligence in Risk Management

A successful due diligence process helps cover you and your company’s nether regions in the event of unethical activity. You don’t want to find yourself in an unethical situation. You can go to jail. You can be fined. You will become a hashtag. Cats will mock you. Lots of stuff can happen. Due diligence helps you avoid all that risk because due diligence helps you manage risk. So be risky, but be manageable.

The Thing About Ethics

Ethics and morals are subjective. The law is pretty clear. For example, an organization that contracts with a third party is responsible for knowing everything about the third party’s dealings in order to avoid any overlap between third party interests and the organization’s interests. Investigating overlap avoids a potential conflict of interest.

Conflicts of Interest

A pretty famous conflict of interest is when someone knows when a stock is going to drop and then tells all their friends to sell before the price drops. That’s insider trading. That’s not fair. How does something like this happen?

Exhibit A

Say Wanda works at a large box store. Wanda’s friend Lynn wants to buy some red cups for her son’s wedding reception. Wanda tells Lynn to wait and to buy those cups next week. Next week those very same red cups are selling at two-for-one prices. That’s right. Wanda just did something unethical.

Wanda’s tip conflicted with the box store’s mission to make money. Did Wanda steal from the box store? No. Did Wanda make any money off of Lynn? No. But something unethical just happened and if anyone looked into it Wanda could end up crying into some red cups at the after-party.

Managing Wanda

Wanda’s risk in this instance was pretty low. But here’s the twist: Wanda’s supervisor is responsible for MANAGING the risk that is Wanda. While Wanda might lack some ethical characteristics, Wanda’s superior must adhere to the characteristics of diligence in order to prevent or mitigate Wanda.

Characteristics of Diligence

First, Wanda’s supervisor Beth must assess the situation before anything risky occurs. This is the prioritization and planning side of due diligence. Beth needs to consider:

  • If someone in Wanda’s position needs to know future sales information. Beth must perform her due diligence and ensure that Wanda and her peers cannot access this kind of information.
  • Beth must consider other information Wanda can access. Beth conducts an audit. She finds out that Wanda has access to other employees’ contact information and has been giving it out to their ex-significant others. Beyond firing Wanda, Beth must now perform due diligence and take the steps needed to ensure the privacy of employee data.

Now that Beth has an understanding of the processes at work, she must find out what the legal mandates are for privacy protection and pricing information. She will then adhere to established regulatory protocols and ensure that those protocols are being followed.

Beth must follow these steps and document the ones that she has taken. This covers Beth’s nether regions because the documentation shows that she has made a reasonable attempt to fix data breaches and to protect product pricing information.

Wanda has been managed. Even better, Beth’s due diligence process has reduced the risk potential of future Wandas.
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Know Your Options – Permanent Non Surgical Rhinoplasty

A rhinoplasty procedure is a complicated one; in fact, any procedure where you go under the knife, you are putting yourself in certain peril. The option to undergo permanent non surgical rhinoplasty is one which many patients aren’t familiar with. However, if it is done by the right professional, not only is it permanent, the results are going to look just as good, and you are not going to have to go through the difficult surgery and recovery. So, how does this work and is it right for you?

Is a non surgical solution for you? 

First and foremost, you’ll have to determine if permanent non surgical rhinoplasty is the solution for you. With Robert Kotler MD, you’ll discuss the options available to you, in the form of fillers. Today, the advancements in fillers and liquid solutions are so much better than they were in years past. Therefore, you’ll see long-lasting results, even if you don’t have a surgical procedure performed. Dr. Kotler will review your medical history, help you understand how the procedure works, and inform you of whether or not you are a good candidate for this non surgical nose job.

Fewer complications and risk 

One of the primary benefits of a non surgical solution is that there aren’t many risks or complications. When you undergo surgery, even the top surgeons will warn you there’s a risk for something to go wrong. When you have fillers and liquid solutions injected, the complications are few and far between. Additionally, there is virtually no downtime. In many cases, you can get back to work the same day and you are only going to see a small amount of puffiness, redness, or irritation where the fillers are injected. So, you don’t have the pain and downtime that surgery brings, plus you’re going to see instant results with the non surgical nose job. 

If you are considering fixing your nose, whether it is for cosmetic or health reasons (hard time breathing), there is more than one solution available to you today. You don’t have to undergo a complicated rhinoplasty which is not only costly, but comes with inherent dangers which present themselves the moment you step into a surgical facility. If you are interested in a non surgical solution that will show great improvements immediately after you have the work done, you will find permanent non surgical rhinoplasty is a great option for you to consider.… Read the rest

How To Make Soup From Left-Overs

Anyone who has been to the supermarket lately knows all too well that food prices are on the rise. The only thing worse than the sticker shock you experience at checkout is the stab of remorse you feel when throwing out left-over vegetables. Do your budget and your family a favor by putting those refrigerator hold-outs to good use in a big pot of pressure cooker extra vegetable soup.

When you hear the phrase “pressure cooker”, do your thoughts automatically harken back to the hissing, steaming monstrosity in your grandmother’s kitchen that used to terrify you as a child? Are you worried about getting burned by billows of steam? It’s time to give the pressure cooker another look.

The reason is that today’s models have come a long way since those of decades past. In modern versions, safety features ensure that the unit remains locked until the steam is released either manually or naturally. As a result, you can enjoy the many logistical and nutritional benefits of the pressure cooker without needing to be unnecessarily worried about accidents.

Cooking in this way enables you to prepare foods efficiently as well as much faster than you would by other means. A minimum of liquid is needed in this closed environment, and the food is done much sooner, enabling the vitamins and minerals to remain. You also save energy, keep your kitchen cooler and are able to use your stovetop or oven for other things.

As the temperatures drop and you crave warm and comforting dishes, your pressure cooker truly can come in handy. Use it today to make the most of what your refrigerator has to offer. If you don’t tell your family that the meal is mostly made from leftovers, they probably won’t even know.Read the rest