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The conclusion part considers some individual views regarding risk management.
Easy Jet is one of the leading budget airlines in Europe. Its operation is spread around 30 countries and serves its customers in more than 100 countries. Various business and popular vacation spots are included among these destination hubs. The organisation is mostly operated in the different destination hubs of Europe. Apart from this the organisation also has its operations in the North America and Middle East regions. Easy Jet offers almost all its tickets through the online booking facilities. No complimentary meal is offered on board. This has helped the organisation to make their costs as low as possible. Easy Jet has a dynamic fleet of 175 Boeing Jets and Airbuses (Hoovers, 2010). Starting in the 1995, the organisation has been able to mark its presence in the aviation industry.
Risks are inherent to a business activity. However, the organisation needs to take steps to mitigate the risks. There can be various kinds of risks including strategic, operational, financial and hazard risks. Apart from these there can be certain other classifications of the inherent risks to a business, however those can broadly classified into the previously mentioned four categories.
The risks, which the organisation is exposed to, can emerge from a number of factors which can either be external or internal to the organisation. The figure overleaf illustrates the key risks, influenced by the external and internal factors. Almost all of the financial risks including interest risks, foreign exchange and credit risks are externally market driven. However financial risk like liquidity and cash flow risk is both driven by external and internal factors. Strategic risks as changes in intensity of the competition, customer base and external industry environment are externally driven. Risks arising out of the mergers and
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The risk management practices also aim to maximize the realization of opportunities. The effectiveness in risk management practices determines the performance level of an organization. Similarly, persons at the helm of affairs of risk management team must be capable dealing with any contingency equanimously.
Operations risk management involves the actual risks of company operations. The overall ethic of risk management is referred to as the risk culture of a company. A Strong Risk Culture The general features of a strong risk culture include leadership and management.
With an ambition to be the leader in world air travel business, emirates Airline has over the years put in place measures and strategies that ensure that its cherished customers are give the very best of service. Part of these services is the practice of ensuring safety and security.
The first is that of addressing uncertainty explicitly. Through defining risk and expressing it explicitly, the risks have value and can be addressed for the specific meaning to the organization. The second is through tailoring the risk management to the needs of the organization so that it is relevant.
The investments in housing, real estate and properties were lucrative in the initial days. The investors had the opportunity to multiply their amount of investment in a short period of time due to appreciation of prices of the land properties. In addition to that the US government also passed laws to ensure that all the citizens of US irrespective of their financial status should have land ownership rights.
While the course has offered diversified elements of risk management, I considered some lessons and themes more significant. This paper identifies the important themes and makes recommendations to the U.S. government, the Federal Reserve, and large multinational manufacturer of consumer personal care products for coping with risks over the next 1-3 years.
It accompanies policy driven actions. Systemic risk is not restricted to the national borders. They are not able to be managed through the events of a single sector (J. Vaughan & T. Vaughan, 2012). They need healthy approach to governance to be managed adequately.
7-Eleven is headquartered in Dallas, Texas and it has various subsidiaries in different locations which are operated by in excess of 45,000 of its employees. The organisation is further recognised as one of the
With the many examples of risks provided by the speaker such as mountain climbing, it is easy to make out what the speaker is bringing out in their speech. Through the speech as well, one can easily plan on how to handle with risks that
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