Safety financial aspects

In this chapter, financial aspects - independent of safety related data - are given priority, e.g. the comparison between e - and d -motors or light fittings. 

Value The first objective to be considered by a decision maker would be the number of persons that could be saved by simply choosing each safety improvement project. Another concernment of a decision maker would be a environmental dimension, which would be affected if any accidental scenario occurs. There is also many monetary or financial aspects to be evaluated, such as property... 

Safety professionals who participated in the survey that preceded the most recent revision in the CSP examination and the examination guide reported that their jobs entailed business and financial aspects more than previously. As it appears in Chapter 4, the following paragraph is indicative of the extended emphasis now given to business and financial management concepts. 

Preferences of the road carriers of hazardous substances are above all connected with the financial aspect of the transport. The aim of he carrier is gaining a maximum profit from the transport, which is closely connected with the transport safety. In case of an accident the carrier loses the profit as well as the transport vehicle during the repair, which prevents him from earning further profit. 

Selection in this chapter is strictly focused on safety related data in the field of explosion protection, neglecting all the other aspects like maintenance or financial considerations (this will be the objective of Chapter 9). Here, selection means the appropriate choice of electrical apparatus according to temperature class and MESG or MIC/MIC (CH4) grouping, taking into account the combustible raw materials and products in the relevant plant. 

It was therefore obvious that the sponsor should become more involved in the issues of GLP compliance, although as the entity which commissions, supports and/or submits a non-clinical health and environmental safety study the sponsor itself may not be directly involved in the conduct of a study under GLP. Thus, it is questionable whether the GLP Principles could have imposed any responsibilities directly to a sponsor with only a commissioning and (financially) supporting role in the conduct of a study, although several explicit references to the sponsor have been introduced into the revised GLP Principles. In order to deal with these problems and questions, certain aspects on the role and responsibilities of the sponsor have been discussed and compiled in an Advisory Document (OECD No. 11,1998). 

With this knowledge, safety directors say they can more effectively draft their hazard prevention and control proposals, emphasizing their favorable financial impact on overall operations, including applicable aspects of productivity and cost efficiency, as well as risk reduction. 

While the evidence is mixed, it appears that improvements in the financial health of railroads probably played a critical role in improved railroad safety performance. Tliis conclusion is based on several important aspects of the rail industry ... 

Financial constraints are among the most important bottlenecks in implementing safety practices in chemical laboratories in developing countries. They affect every aspect of safety plans and implementation, because initial investments and sustained support are required to build and maintain a safety infrastructure. 

For the insurance industry, another aspect of risk is loss control. Loss control is controlling conditions that can lead to a loss. It is part of risk management. For an insurance company, loss control is helping insured customers prevent loss producing events. Few losses means few insurance claims. From a safety perspective, loss control helps clients manage safety and health, recognizes hazards and implements preventive measures. The measures eliminate accidents and incidents that create personal, property or financial losses for both parties. When loss control is effective, the insurance company and the insured gain benefits. 

Abstract The purpose of this study was to examine the concept of corporate social responsibility (CSR) as viewed by different participants in the Finnish labour market. One senior specialist from each of the Confederation of Finnish Industries, the Central Organization of Finnish Trade Unions SAK and the Finnish Consumers Association was requested to complete an online questionnaire. The aim of this study was to elucidate how the different participants view various aspects of CSR. Further study aims were to gather the kinds of the responses to the research questions which could be used as a reference base for future development. The main research question was How does CSR become the best practice in business activities The sub-questions were How does CSR come to represent the best practices in the day-to-day activities of (1) business strategy of companies, (2) financiers and shareholders, (3) customers and consumers, (4) employees of the companies and (5) communities and authorities CSR is a strategic process of mutual commitment between a corporation and its stakeholders. Its purpose is to create a social contract to maximize the welfare of all partners concerned. CSR is also an important way to stimulate proactive behaviour and to improve to health, environment and safety strategies of the companies. CSR provides a company with the ability to recognize and respond effectively to social challenges. 

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