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Risk is defined as the uncertainty of profit or danger of loss due to some unforeseen events. Some form of risk is present in all functional areas of business, be it production, marketing, sales or operations.
ABC Chemicals employs some 50 people whose duties include performing day-to-day business transactions and decanting of the chemicals into smaller containers. As the company deals in chemicals, the materials being used may be toxic, foul smelling, corrosive, carcinogenic, staining and allergenic in nature. A routine exposure to such chemicals without deploying safety mechanisms can cause serious health ailments for the employees. Research has proved that constant exposure to harmful chemicals can lead to cancer, skin diseases and other organ malfunctioning besides causing irritation and dizziness. Fires and explosions in the premises due to chemical reactions or toxic spills can cause massive destruction of business operations and human lives.
At a distance of 25 meters from the company site is a local nursing home that cares for elderly residents with age-related conditions like dementia. Across the road from the nursing home is a child care centre that provides day care for children under 5.
A chemical house like ABC Chemicals, releases toxic waste whether it is involved in the process of manufacturing chemicals, refilling the drums carrying solvents and acids or in the transportation of the same. Harmful chemicals are released while decanting and pouring the material in separate drums. As the entire process is done manually, there could be spills and leaks. One cannot even rule out the possibility of this waste reaching the nursing home and child care center in the neighborhood through drains, water pipes or soil. Study indicates that the elderly residents at the nursing home suffer from problems like dementia.
According to ‘MedicineNet.com,’ an online, healthcare media publishing company, based in California, “dementia is a
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(Business Management Essay Example | Topics and Well Written Essays - 1500 Words - 2)
“Business Management Essay Example | Topics and Well Written Essays - 1500 Words - 2”, n.d. https://studentshare.org/miscellaneous/1562933-business-management.
This conversion of inputs to outputs involves various complex and critical activities, with specific focus on quality and productivity aspects. These activities are carried out through specific methods and employ distinct tools and techniques. The ultimate goal of operations management is to produce goods and/or services that add value to the organisation, are in line with organisational strategies and facilitate achievement of organisational competitive priorities.
In contrary, MacDonald’s fast foods is a place where one eats either chicken, French fries, breakfast items, milkshakes, soft drinks, cheeseburgers, desserts, hamburgers pays for it. In return to obesity trends in the Western nations and in the face of disapproval over robustness of its products, MacDonald’s has tailored its menu to take in alternatives regarded as healthier that include wraps, salads and fruits.
Introduction In his book, “Essentials of Organizational Behaviour”, Laurie J. Mullins captures fundamental aspects of real life management. The book offers an expanded introduction to the management and organisational behaviour, giving clear, concise and greater insights into the organizational behaviour and introducing the critical theories.
This view is also echoed by Carysforth and Neild (2000) who add that each functional area of a business must support other departments of an organization by the means of effective communication and interaction to ensure that each department compliments the operations and activities of the other.
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Therefore, in ensuring that customers will keep on buying various strategies can be put in place.
Firstly, there is need for adoption of creativity and innovativeness in developing a better product or service. It is expected that the product quality will bore the
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