Alasia Hotel Resorts Companys Risk Management

Alasia Hotel Resorts Companys Risk Management Introduction Understanding risk and risk management in an organisation requires one to understand that risks are varied depending on the type of organization in question. Risk management is the system of strategies, policies and practices that minimize an organization’s exposure to risk, cushioning it against the effects of those risks (Investor Glossary 2011; McNeil, Frey and Embrechts 2005).Advertising We will write a custom report sample on Alasia Hotel Resorts Company’s Risk Management specifically for you for only $16.05 $11/page Learn More To understand the nature of the dynamics of risk requires one to also consider the variety of business interests and business fields such as health, transport, finance and other (Hutter and Power 2005). Thus, risk management in the business environment assumes different perspectives depending n the organization and the risks in question. However, Hutter and Power (2005) adds that risk management is not something an organization chances to do, but should be a deliberate effort to prepare the organization to deal with future emergencies. Thus proper and effective risk management ensures that the future of the organization is assured. This does not however mean that organizations understand the nature and type of risks that they will encounter in the present and in the future. It means that organizations must implement the correct strategies to deal with dynamic risks as they arise and minimize their effect (Hutter Power 2005). Company outline Alasia Hotel Resorts (AHR) Alasia Hotel Resorts (AHR) is owned by Alexia Limited which was registered in 1984 as a private limited company. AHR is an exclusively full service establishment with fully owned hotels and resorts in these exceptional cities; Berlin, Frankfurt, Budapest, Copenhagen, Frankfurt, Sydney and Hamburg. The company has also franchises in London, New York and Florida. It offers a variety off services and products, and c aters for individual, group and corporate clients on full board, half board and customized services. AHR has well established restaurants, coffee shops, bars, catering and cocktail lounges with full service personnel. AHR also offers accommodation services in our main resorts or condominiums with room and personalized services. Condominiums are only for private full board accommodation for small groups or families and guarantees all services offered at the he main hotels. All our large hotels also have exclusive retail shops such as gift shops, boutiques and chemists.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Our hotels and resorts offer other services such as beauty parlors, ballrooms, fitness centers, health amenities, laundry and valet service. Other than these, AHR also has the facilities for exhibit halls, seminars, conferences, private functions such as wedding and ot her types of meetings. To facilitate easy movement of clients, AHR has secured coaches and saloon cars available upon request. As Hutter and Power (2005) explains, risk management is a deliberate effort that is part of AHR’s core business; the same can be said of AHR. The nature of AHR’s business, deals with risks every day, therefore risk management is a core function in its daily operations. As such, risk management becomes the culture and therefore in the business practices at the company. The company has tailored its risk management to suit its business model, nature of business and other factors, such as future expectations (AS/NZS ISO 31000, 2009). The company has thus had to implement risk management strategies as well as processes and a criterion of evaluation to ensure that risk management procedures meet the necessary criteria. Risk management practices at AHR The Company has realized the potential danger of the risks that it is exposed to and as such has for med a risk management department whose membership incorporate all the departmental heads under the leadership of the Risk Evaluation And Management Officer whose is assisted by the company’s chief finance officer and chief operations officer. The mandate of this department is to device and implements best risk management practices. The following are some of the risk management practices implemented by the Risk Evaluation and Management Unit at AHR. The company’s risk management practices are based on Hubbard’s (2009) theory of calibrating and quantifying risks through actuarial science methods as well as creating a community for risk analysis. This helps to give accurate values of the value and effects of risks to then company and means that risk are quantified in terms of probabilities. The best alternative for each probability is quantified and recorded ready for implementation in case risk happens. The method is anticipatory and forwarded looking and more eff ective basis for dealing with respective risks. This theory provides the basis for implementation of the following risk management practicesAdvertising We will write a custom report sample on Alasia Hotel Resorts Company’s Risk Management specifically for you for only $16.05 $11/page Learn More Human resource risk management Reducing the human resource risk involves a very comprehensive recruitment and selection exercise for the best employees, which is later accompanied by empowering the employees through comprehensive and continuous training and giving them the authority to solve any problem regarding any client issue. Training program also includes leadership development; equipping all employees with leadership skills improves accountability (Enz and Siguaw 2010). This greatly improves the employee’s skills and knowledge thus ensures high productivity levels are maintained. It also encourages non-performers to seek career prospects elsewhe re thus reduces non-productivity risk that would have arisen. For long term commitment the company has implemented an attractive compensation for employees who engage on long term basis (Huselid 1995). Compensation for performing employees includes vacation in one of the international hotel for employee and their immediate families, paid leaves, allowances for extra time duties, among other packages. The objective of this management practice is to improve employee morale and productivity while empowering them to offer satisfactory services to guests and thus ensure that guest are satisfied with AHR’s services. Financial risk management Minimizing financial risk involves controlling the company’s revenue and income by calculating the equilibrium pricing and controls. Because the company operates in various countries, its finances rare also exposed to foreign exchange rates fluctuation (Prindl 1978). Managing the forex rate fluctuations, the company has identified a repo rting currency, US dollar, in which it converts all its assets. This decision is based on the concept of the stability of the US dollar and its universality, which makes financing its international operations easier. Alasia transacts its daily international business through a pre-agreed exchange rate that is not affected by any variation in foreign exchange rates. As such, the company profit margins are insured against any loss. The company and the Risk Evaluation and Management Unit came up with the following equation for hedging;Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More h=E-1 Where E is equal to the amount of foreign exchange exposure risk and varies from 0 to 1. If total hedging is done, the amount of E will be equal to 0 and thus not sensitive to any fluctuations in foreign exchange (Kroner and Sultan 1993). Managing insurance premiums The company has also engaged in insuring all its assets for any loss of value and damage. Depreciating assets such furniture, kitchenware and vehicles have been well insured and thus any loss of value is compensated. Other than this, the nature of the business as well as the international political climate exposes the company to rising insurance premiums. This affects the company revenues. As such, the company has integrated a training program for all its employees in risk reduction. This is aimed at helping reduce claims and as such has kept the insurance premium rates for the hotel relatively low. The company entered into agreement with its underwriter for discounted insurance premiums if the company manages its claims. Negotiations are in their final stages and this arrangement is expected to come into force soon (Hill 2004). Effective risk management practices Hedging One of the most effective risk management practices the company is the hedging that incorporates the value and nature of assets. This means that the company incorporates the value of the asset in determining the hedging value. As such, the asset value is part of part of calibrating the hedging ratio (Kroner and Sultan 1993). Hedging has also seen the group run its international business efficiently without incurring any losses associated with changing forex rates. As such the company has managed to make long term plans for its international business operations (Chowdhry d Howe 1999). The company has seen the rise of its hedged assets such as franchises and other outsourced services like chattered flight for its clients. As such, the company has seen its international business operations done at optimal rates and therefore sw ells the company’s profits margins. Insurance and its benefits Hedging may not guarantee the protection of the company’s physical assets, thus the insurance policy against loss of value is a novel idea. It ensures that the company’s loss in the value of its company depreciating assets such as vehicles, furniture and others is easily recovered is recovered during liquidation. As such, the company’s capital investment is protected against loss as well as guaranteeing better returns in investment. As such, these make the company more fluid in increasing its acquisition and replacement of such assets (Gustavo and Stavros 2011). Ineffective risk management practices Some of the practices in the company’s risk management have not been effective and may not necessarily reduce the effects of risks to the company. Such activities as managing the insurance premiums are not sustainable. This is because the causes of the said rising in insurance premiums are e xternal and outside the group sphere of influence. Such issues as terrorism affect global travel therefore forcing people to stay in their homes and avoid such risk. In effect of the rising threat, the underwriter automatically appreciates insurance premiums due to the increased threat as such situations are not covered by discounted rate agreement. As such, the hotel industry suffers most damage when such threats are high (Hill 2004). The group has one of the best recruitment exercises in the market. It helps in establishing the best quality workforce for the company. It guarantees that the company hires the best brains in very field. However, the exercise ignores one of the fundamental aspects of human resource development, which is developing and growing its own human resource through internship and apprenticeship. Apprenticeship is a very efficient method of grooming potential replacements as well as ensuring a reservoir of workers in a company as well as tapping the best talent while still raw and developing it to fit into a company’s needs (Enz and Siguaw 2010; Huselid 1995). Lastly, the company is not entirely secured by establishing the dollar as the principle currency of trade. The dollar despite being a relatively stable currency is not immune to fluctuation. Due to the company’s large volumes of trade, even the slightest negative change in the value of the dollar will affect the company’s income (Kroner, and Sultan 1993). Recommendations To improve its risk management practices, the company should consider the following recommendations; Alternative currency The most viable option to cushion this effect is to establish an alternative currency such as the Euro as its principle currency of trade, which the company will use to conduct business with, should the dollar fluctuate significantly (Prindl 1978; Malevergne Sornette 2006). Workplace issues The company’s human resource risk management practice is very efficient in man aging how employees work. However, it does vaguely cover employees’ claims concerning harassment, discrimination as well as other workplace issues. As such, the company should keep a regularly updated company policy on discrimination and train all employees on policies concerning these issues and how to avoid them at the work place (Hill 2004). Insurance industries research The insurance industry is also so unpredictable and as such company risk losing their investment when an underwriter is dissolved. To reduce this risk the company should conduct a research on possible insurers based on the highest claims rating. More important, the company should engage insurers who have the best solvency ratings (Hill 2004). Reference List AS/NZS ISO 31000., 2009, Risk management principles and guidelines. Sydney: Standards Australia. Enz , C., Siguaw, J., 2010. The human dimension: a review of human resources  Management issues in the tourism and hospitality industry Cornell Hotel an d Restaurant Administration Quarterly May Web. Hill, J., 2004. Right this way! Hotels make room for risk management. Web. Available at  https://www.insurancejournal.com/magazines/mag-coverstory/2004/08/23/45573.htm [13, March 2011]. Hubbard, D., 2009. The failure of risk management: why it is broken and how to fix it. New Jersey: John Wiley and Sons. Hutter, B., Power, M., 2005, Organizational encounters with risk. New York: Cambridge University Press. Huselid, M., 1995. The Impact of Human Resource Management Practices on Turnover,  Productivity, and Corporate Financial Performance. The Academy of Management Journal. Vol. 38, No. 3. Kroner, K. , Sultan J., 1993. Time-varying distributions and dynamic hedging with  Foreign currency futures. Journal of Financial and Quantitative Analysis, 28. Malevergne, Y., Sornette, D., 2006. Extreme financial risk: From dependence to risk  management. New York. Springer Berlin Heidelberg. McNeil, A. J., Frey, R., Embrechts, R., 2005, Qu antitative risk management. New Jersey: Price Town University Press. Prindl, A., 1978. Foreign Exchange Risk. The Journal of Risk and Insurance. Vol. 45, No. 4.

Assessing The Impact Of Saudi Aramcos Appraisal System On Its Essay

Assessing The Impact Of Saudi Aramcos Appraisal System On Its Employees' Morale And Performanc - Essay Example Human Resource Department also noticed that almost all non-Saudi employees resign once they receive better jobs offer. In light of Industrial Security letter and Human Resources findings, it is clear that the employees’ commitment and morale is at unprecedentedly low level and as a result, Saudi Aramco management’s new challenge is to motivate, recognize, increase self-belonging and reward their employees properly to ensure their optimum productivity. The lack of commitment and interest to work is attributed by many, to the employees’ â€Å"below expectation† appraisals and rewards although, the current appraisal system has been used since 2003 and hence it is considered as fairly new appraisal system. This research is intended to provide Saudi Aramco’s management with sufficient reasoning on how vital the current appraisal system can be on the success of the company and its employees. Saudi Aramco’s appraisal and reward systems are based on two components: †¢ A Performance Management Program (PMP) that utilizes a five-categories rating scale in apprising their employees. †¢ A multi stage forced ranking criteria. The old appraisal system was a simple word document filled by the supervisor that contains tasks completed, strength areas, and weakness areas, development areas. To overcome the many disadvantages of the old system, Saudi Aramco shifted to a Performance Management Program (PMP).... The PMP, according to the company; is a continuous, three-phase cycle of planning, managing, and reviewing performance. Within each phase, the supervisor and the employee will both have responsibilities. PMP is not something to be done to employees, it is an activity undertaken with employees. It is a partnership. The Performance Management Program (PMP) is designed to: Improve the performance of Aramco and its employees. Enable supervisors and employees to plan and review performance. Provide a forum for career planning discussions. Figure 1: PMP process The PMP utilizes a five-categories rating scale ranging from â€Å"S† which is significantly exceeds job requirements to â€Å"D† which is dissatisfactory performance. Each of the five-categories has a range of annual salary increase percentages for example; â€Å"S† category ranges from (9-11%) increase while â€Å"M† which is meeting job requirements ranges from (2-4%) increase. An employee’s per formance is being measured by the supervisor against some competences and goals accomplished during the year (Murphy & Cleveland, 1995). Then, the general supervisor meets with his supervisors where they start discussing and defending their employees having in mind that the stronger the supervisor is the greater the chance that the employee will get a satisfactory appraisal rating. Once this stage is completed, the manager meets with his general supervisors to discuss and approve their employees rating. Again, the stronger the general supervisor is, the greater the chance that the employees will get a satisfactory appraisal rating. Figure 2: Rating Factors 1.2. Problem Statement: Evaluation of an individual work performance as a formal management procedure is

British culture Case study Example | Topics and Well Written Essays - 1750 words

British culture - Case Study Example His younger sister is still in the university undertaking bachelor of Medicine. Callum is pursuing a bachelor’s degree in Neurosurgery. The interview was successful because Callum was cooperative and gave out all the information. I had to inform him first about the intention. I also assured him that the information will not be disclosed to anybody else. From the interview, I was able to get more information about the changing nature of masculinity, multiple identities, femininities, and cultural capital among British citizens. Gender identity is an aspect involved in the process of socializing and growth. There are some behaviors and activities associated with men and others women (Collins, 2009). In order to know Callum’s attitude towards masculinity, I had to ask him different questions regarding the differences in roles, cloths, behavior and talks between men and women. He claimed that he understood there some behaviors which he was not supposed to adopt, since they are made for women. He said that some dresses like pencils, hipster and cloths with multiple colors are made for women and he can not wear them. Further, he added that there are men suit and women suit and to be respected an individual should wear cloths in respect to gender. I had to ask him about the talks or the way in which men talk whether it is different from the women talk. He claimed that women are involved in gossips and he is not supposed to engage in gossips because they are made for women. He claimed that men talks are supposed to focus on life issues and not what other people do. He also claimed that men are not supposed to blink eyes or have facial movement while talking. He claimed that he can not talk the same way with women because that is lowering his dignity. In the society today, men who adopt the women’s way of life are not respected. He was more focused on the issue of masculinity because he also claimed that men should

Aesthetics - the issue of the possible existence Essay Example for Free

Aesthetics the issue of the possible existence Essay Burke follows in the empirical tradition of Locke. He believes that all human knowledge comes out of impressions or sense experiences. We then take these simple bits of knowledge and combine them to form more intricate ideas. Our imagination is limited to use of the knowledge we extract from our impressions and are, therefore, incapable of creating anything completely new. He says that our imagination either portrays pleasing images again in the order we experienced them or reorders and combines these images of our experiences. Burke offers that humans receive pleasure from resemblances. Accurate imitations stimulate our minds. Burkes goal and main concern is the issue of the possible existence of a standard or logic of taste. Burke is searching for certain principles that affect our imaginations in such a common and certain way that they could be a basis for the means of reasoning satisfactorily about them1. Burke states that these principles do exist. He says that even though it seems as though there is such a variety of taste, there is a standard that lies beneath the superficial range of differences. All humans perceive external objects in the same way. We become familiar with these external items by way of our natural powers: the senses, imagination and judgment. The most natural understandings that we receive are quite standard, what appears light to one is light to any other and what is sweet to one is again sweet to another. Burke shows that humans have a common agreement on these issues of preference by giving examples of expressions taken from taste experiences such as A sour temper, bitter expressions sweet disposition, a sweet person1. Burke realizes that there are many people who act in ways that would seem contradictory to these assertions, such as the preference of the taste of tobacco over that of sugar. These divergences from the natural pleasures and pains are a result of custom. They do not uphold the argument for diversity of taste, but rather call for a differentiation between Natural and Acquired taste. A man grows to prefer the taste of tobacco to that of sugar by conditioning his palate from habit. It is a synthetic preference, however, and the man still understands that tobacco is not sweet and sugar is sweet. Also if a man finds sugar to be sour we do not say that his taste is different, instead we say that his taste is not functioning correctly. Burke writes that when talking about acquired taste one must consider the surrounding factors such as the specific habits and prejudices of a particular person. These customs and intolerances do not oppose the agreement of mankind, but rather mask it. This conformity among humanity does not exist only in terms of the palate; it is quite the same in matters of sight. Light is more agreeable than darkness and summer and its conditions are more pleasant than winter and its conditions. Burke states that no man truly, naturally believes a goose to be more beautiful than a swan. To Burke sight is less subject to custom than the palate, however, change is applied. This applied change brings him to his next point about the palate. He says that these changes in palate, which make unpleasant flavors more pleasurable, are a result of frequent use combined with an agreeable effect. This affects humans in the way of substances such as opium, tobacco, alcohol, tea, and coffee. Burke writes There is in all men a sufficient remembrance of the original natural causes of pleasure, to enable them to bring all things offered to their senses to that standard and to regulate their feelings and opinions by it 1. Natural pleasures are still preferred to unaccustomed substances that induce agreeable effects. Someone who has grown to prefer opium to sugar would still prefer the taste of sugar to a drug that they do not have a habit with. There is a standard of pleasure of the senses in all humans. Burke explains imagination as our greatest source of pleasure and of pain. Since imagination is based on the senses then it too must have universal agreement among all men. The mind is much more disposed to picking up on resemblances than to finding differences in what we observe. Our imaginations are incapable of creating anything absolutely new so we must expand our stock through experience, and in resemblances we are able to find new images. We unite and accumulate and move forward with our feelings with likenesses rather then difference which cannot be placed.

Argumentative Paper: Legalizing Euthanasia -- Assisted Suicide

Most people do not like to talk or even think about death; much less the topic of ending one’s own life. However, for some, death is a desired alternative to living in agony. Euthanasia has been a topic of debate since antiquity, and both sides stand firm on their beliefs. The right to choose death is illegal in most countries. I believe in people’s freedom to do what they please with their own bodies. The basic right of liberty is what America was founded on. Euthanasia should be a legal option. It’s important to start by understanding the different types of euthanasia. Allowing someone to die is, â€Å"Forgoing or withdrawing medical treatment that offers no hope of benefit to the total well-being of the patient, or that imposes burdens disproportionate to the potential benefits, allows the patient to die† (Manning 2). Traditionally called passive euthanasia, allowing someone to die was redefined by and is acceptable in the Catholic Church. Active euthanasia, also known as physician-assisted suicide, is when someone other than the patient ends the life of the patient upon explicit request. I view active and passive euthanasia to be one in the same with one very real difference; allowing someone to die delays the inevitable and the patient is left to twist and turn for awhile longer. Peter Chesterfield comments, â€Å"A terminally ill, mentally competent patient like me should not be forced to suffer. This is as morally unacceptable as murder† (qtd. In Friedman 8). On the other hand, â€Å"The phrase ‘mercy killing’ refers to someone’s taking a direct action to terminate a patient’s life without the patient’s permission† (Thiroux and Krasemann 184). Mercy killing is the form of euthanasia that must be properly monitored and consist... ...ties Toward Physician- Assisted Death: An Exploratory Assessment of the Vulnerability Argument,† Journal of Disability Policy Studies, vol. 16, no. 1, Summer 2005. Print. Manning M.D., Michael. Euthanasia and Physician-Assisted Suicide: Killing or Caring? Mahwah: Paulist Press, 1998. Print. Nordqvist, Christian. "What Is Euthanasia." Medical News Today. MediLexicon International, 26 Sept. 2014. Web. 05 May 2015. . Sharma, Shweta. "Euthanasia: Debate Rekindled on Right to Die for the Terminally Ill." Health and Wellness Resource Center. Mel, 3 Aug. 2014. Web. 05 May 2015. Snyder, Carrie L. Euthanasia: Opposing Viewpoints. Farmington Hills: Bonnie Szumski, 2006. Print. Thiroux, Jacques P. and Kevin W. Krasseman. Ethics: Theory and Practice. Upper Saddle River: Prentice Hall, 2012. Print.

My Favourite Actress

My favourite actress is Julia Roberts. She is one of the Hollywood's brightest star. She is a very successful actress who has starred in many films, such as â€Å"Pretty woman† and â€Å"The running bride† with Richard Gere. Julia is tall with a perfect figure. She is in her early thirties. Her lips is full and face is tauned. She has got long red curly hair, beautiful blue eyes and rather small nose. She likes wearing formally evening dressed in which she look fantastic. Julia Roberts is a complicated person whose character has many sides. She has very PODOBNA PRACA 75% My favourite sport outgoing personality. She likes to be in the public eye, giving interviews a jurnalists and allows photographers to take photos which are shown in magazines. She likes going to Hollywood parties and dancing in free times. Julia is a sociable person and loves meeting others people. Travelling is what she likes most. She loves fast cars, however she was afraid flying by plane. She travels all over the world and experiences a new adventures. Futhermore, she is very active in work and self-confident. She got Oscar for starred in film â€Å"Pretty woman†. She is also a sensitive person. For example, she helps small ill children. She transnits much money for charity. She is a person who is on diet and keep fit. She never eats fattening food, because she wants to have a good figure. On the other hand, she tends to be a bit explosiv, she often gets nervous without any reason. She is decisive as well. She usually reads a book when finds a private moment. All in all, Julia Roberts is a great actress who J like watching in films. Films, in which she appears are always interesting. J hope to see a new films with her in this time.

Octavio Paz, Mexican Poet, and Nobel Prize Winner

Octavio Paz was a Mexican poet and writer considered to be one of Latin Americas most important literary figures of the 20th century. He was known for his mastery of a wide range of writing styles, including a prolific collection of poetry and non-fiction works, and for his contributions to the cultural history of Latin America. He won the Nobel Prize for Literature in 1990. Fast Facts: Octavio Paz Full Name: Octavio Paz LozanoKnown For:  Prolific Mexican poet, writer, and diplomatBorn:  March 31, 1914 in Mexico CityParents:  Octavio Paz Solà ³rzano, Josefina LozanoDied:  April 18, 1998 in Mexico CityEducation:  National Autonomous University of MexicoSelected Works: Sun Stone, Configurations, Eagle or Sun?,  A Draft of Shadows and Other Poems,  The Collected Poems 1957-1987, A Tale of Two Gardens: Poems from India 1952-1995, The Labyrinth of SolitudeAwards and Honors: Nobel Prize for Literature, 1990; Cervantes Prize (Spain), 1981; Neustadt International Prize for Literature, 1982Spouses:  Elena Garro (m. 1937-1959), Marie-Josà © Tramini (m. 1965 until his death)Children: HelenaFamous Quote: â€Å"Solitude is the profoundest fact of the human condition. Man is the only being who knows he is alone.†Ã‚   Early Life Octavio Paz was born in Mexico City to a prominent family in 1914. His father, Octavio Paz Solà ³rzano, was a lawyer and journalist who also served as legal counsel to Emiliano Zapata, taking part in Zapatas agrarian uprising in 1911. His childhood was spent in the nearby village of Mixoac, where he was raised by his mother, Josefina Lozano, and his paternal grandfather, who had been a writer and intellectual and owned an impressive personal library. After Zapatas assassination in 1919, the family was forced to flee Mexico and live for a time in Los Angeles. The family eventually returned to the Mexican capital, but had lost all their wealth during the Mexican Revolution. Early Works and Political Ideology Paz published his first book of poetry, Luna Silvestre (Wild Moon) in 1933 at the age of 19. He was attending law school at the National Autonomous University of Mexico and found himself drawn to leftist politics. He decided to send some of his work to the famed Chilean poet Pablo Neruda, who praised Paz and encouraged him to attend a congress of anti-fascist writers in Spain in 1937. Spain was in the midst of a brutal Civil War (1936-1939), which would lead to four decades of dictatorship by Francisco Franco. Paz, like many other international volunteers, decided to join the Republicans fighting against the fascist-leaning Nationalists. Upon his return to Mexico in 1938, he advocated for the republican cause and founded an important journal, Taller, which published emerging poets and writers. In 1943, he was awarded a prestigious Guggenheim Fellowship to study American modernist poetry, and spent time in Berkeley, California, and other American cities. Mexican poet Octavio Paz, Visiting Lecturer at Cornell University, with students.   Al Fenn / Getty Images His time abroad led to him being offered a post as Mexico’s cultural attachà © to France in 1946, where he met major figures like Jean-Paul Sartre and Albert Camus. For the next two decades he served as a Mexican diplomat in Switzerland, Japan, and India. Throughout this period, he continued to write, publishing dozens of works of poetry and prose. In 1968, he resigned his post as a statement of protest against the Mexican governments suppression of student demonstrations during the Olympics. Notwithstanding his leftist views and unlike some of his contemporaries, like Gabriel Garcà ­a Mà ¡rquez, Paz did not support either the socialist Castro regime in Cuba or the Nicaraguan Sandinistas. Even more significantly, he didnt support the Zapatista uprising in 1994. A Poetry Foundation article quotes Paz as stating, Revolution begins as a promise... is squandered in violent agitation, and freezes into bloody dictatorships that are the negation of the fiery impulse that brought it into being. In all revolutionary movements, the sacred time of myth is transformed inexorably into the profane time of history. Pazs Prolific and Diverse Literary Works Paz was incredibly prolific, publishing dozens of works in various styles. Many of Pazs books of poems have been translated into English. They include  Sun Stone (1963), Configurations  (1971),  Eagle or Sun?  (1976),  A Draft of Shadows and Other Poems  (1979), and The Collected Poems 1957-1987  (1987). He also published a number of essay and non-fiction collections. In 1950, Paz published the original, Spanish-language version of The Labyrinth of Solitude, a reflection on the cultural hybridity of Mexicans as mixed-race ancestors of native Indians and Spanish colonizers. It established Paz as a major literary figure and it became a critical text for students of Latin American history. Ilan Stavans writes about Pazs perspective: He saw little point in a one-sided portrayal of Spaniards and other transatlantic newcomers as abusers. After all, their impact on native culture was ubiquitous, undeniable, and indelible. He did not settle for the easy liberal polarity oppressor/oppressed but attempted to understand the side effects of the historical encounter between the Old World and the New. Another aspect of Pazs work often recognized was his tendency to maintain elements of prose—most commonly philosophical thought—in his poetry, and poetic elements in his prose. The Monkey Grammarian (1981) demonstrates the ways Paz integrated elements of poetry with non-fiction writing. Similarly, his 1982 book on Sor Juana Inà ©s de la Cruz, a 17th-century nun writing poetry in New Spain (colonial-era Mexico), was a cultural history as much as it was a biography. Pazs writing was also greatly influenced by his work as a diplomat. For example, living in India as the Mexican ambassador between 1962 and 1968 introduced him to eastern spirituality, which made its way into his writing. The 1997 anthology A Tale of Two Gardens: Poems from India, 1952-1995 includes poems in ancient Sanskrit, and Paz was praised by critics for his thorough understanding of Indian culture. He also met his second wife, French artist Marie-Josà © Tramini, in India. In 2002, Figures and Figurations, a collaborative book that features her artwork and Pazs poems, was published. 11th October 1990: After winning a Nobel Prize for literature, Mexican poet and critic Octavio Paz, seated in an armchair holding papers, laughs while his wife Marie-Jose stands behind him in a suite of the Drake Hotel, New York City.   Fred R. Conrad / Getty Images The Nobel Prize In October 1990, Paz received news that he had won the Nobel Prize for Literature, becoming the first Mexican to do so. Apparently, he had been in the running for several years before this as a finalist. The following year, he published an important literary criticism book called The Other Voice: Essays on Modern Poetry (1991),  where he analyzed contemporary poetry and critiqued postmodernism and consumerism. Legacy Paz’s death in 1998 was announced by then Mexican president Ernesto Zedillo, who stated, â€Å"This is an irreplaceable loss for contemporary thought and culture—not just for Latin America but for the entire world.† He was also honored with a memorial service at the Metropolitan Museum in New York City. Paz left his large literary archive to his widow, Marie-Josà ©. When she died in 2018, the Mexican minister of culture declared Pazs work a national artistic monument in order to guarantee that his archive would remain in Mexico. Sources Octavio Paz. Poetry Foundation. https://www.poetryfoundation.org/poets/octavio-paz, accessed 4 September 2019.MacAdam, Alfred. Octavio Paz, The Art of Poetry No. 42. The Paris Review, 1991. https://www.theparisreview.org/interviews/2192/octavio-paz-the-art-of-poetry-no-42-octavio-paz, accessed 4 September 2019.Stavans, Ilan. Octavio Paz: A Meditation. Tucson, AZ: University of Arizona Press, 2001.