單向人生 » 日志 » RISK MGMT 14 MAY/08
RISK MGMT 14 MAY/08
Cole 发表于 2008-05-14 15:31:35
RISK MGMT:
the expertise on risk mgmt is usually the pessmist in a corporate.
looking through the process and find out "if sth. happens or sth. goes wrong, then what," saying "well, yep, but..." "what if blablabla", doing risk mgmt is figuring out wot can go wrong and then prevent it!
this is new in China, but it's coming! V have to be well aware of the thing that could be problematic!
sues are acrossing the boarder now~
RISK: unknown, problem matter(usu. $), threats, uncertainty, opportunity, operational risks.
managing risk is to make the situation less uncertain.
e.g. cash flow in a firm: cost money, then get cash in [wot risk mgmt has to do is to ensure that cash flows happen as intended and things go to the way they should.]
operational risks: the best thing happens is nothing happens!
e.g. is living or death better? EQ or no EQ better?
Insurance__Loss control
control the risk and surpress the damage.
e.g. Insurance hedging.
RISK MGMT PROCESS:
1. IDENTIFY RISKS: experiences, industry (refer to other corporate's experience), forecasting, testing(empirical)/ QC, relationship mgmt/contracts, interviews (with 1st line operators, not only owners)
SOURCES (of RISKS): 1.Injuries--LIABILITY--LEGAL 2.Fire, EQ, Physical damage, operational environment--PHYSICAL 3. POLITICAL/ CULTURAL, SOCIAL 4. Cognitive (initiate some changes, esp.) e.g. proper training for employees, supply changes. 5. Economic environment (co. should look bigger, and wider. cos, by defraud, co. will have problems 2)
2. EVALUATE RISKS: Frequency, Severity, Urgency.
3. DEVELOP+SELECT TECHNIQUES (be careful! wot v r preventing/doing could cause new risks!)
4. IMPLEMENT
5. REVIEW+MONITOR
!!BE CONSTANTLY AWARE OF RISKS!!
Factory Tour 4 2moro:
basically toy manufacturers.
be aware of the things that could be problematic!
Qs for groupwork:
look from the Chinese perspectives and Canadian perspectives, wot's the differece?
wot's on the scene and wot's beyond the scene could possibly cause risks? (e.g. target custermers, market places)
wot if companies want to do business with these factories? test/ find out possible risks in other market places, say besides China and America. try to put it in Middle East, South Korea or some other countries.
for issue report:
get to the point! in a real world, v simply have 5 minutes to get this through to the CEO, dont play with words.
make a list of risks (after the tour)
justify why it could be a risk
y it could be a big risk for A but a little risk for B
the frequency of a certain risk among these factories
INTRODUCTION TO 4 FACTORIES WE'RE VISITING, by Pro. YIN:
"WATCH WHAT I DO, NOT WHAT I SAY!"
numers can decieve (statistics can cheat/ lie)
Shedule:
Thursday: AUDLEY (ALPHA) TOY. am 1993 1800 employees, 300 patens (#1 in China), million revenue (2006)
HUAWEI TOY. pm 1997 4000 employees
Friday: GUANGDONG ORIENT ZIRCONIC CO. LTD. am. high-tech innovation. more than 27% college grads, 47%senior pro. title in techniqur profession.
QUNXING TOY. pm 1991 .7 million annual export
Qs: why in Chenghai (the toy center)?
why Alpha/Huawei don't go public? does family business means backward? how do they manage?
Alpha chose to be diversified, to reduce risk, how's that? could be apply in other 2 toy factories?
what can be learn from toy manufactory? what's the similarity it has with other manufacory industries? (expending research)
the expertise on risk mgmt is usually the pessmist in a corporate.
looking through the process and find out "if sth. happens or sth. goes wrong, then what," saying "well, yep, but..." "what if blablabla", doing risk mgmt is figuring out wot can go wrong and then prevent it!
this is new in China, but it's coming! V have to be well aware of the thing that could be problematic!
sues are acrossing the boarder now~
RISK: unknown, problem matter(usu. $), threats, uncertainty, opportunity, operational risks.
managing risk is to make the situation less uncertain.
e.g. cash flow in a firm: cost money, then get cash in [wot risk mgmt has to do is to ensure that cash flows happen as intended and things go to the way they should.]
operational risks: the best thing happens is nothing happens!
e.g. is living or death better? EQ or no EQ better?
Insurance__Loss control
control the risk and surpress the damage.
e.g. Insurance hedging.
RISK MGMT PROCESS:
1. IDENTIFY RISKS: experiences, industry (refer to other corporate's experience), forecasting, testing(empirical)/ QC, relationship mgmt/contracts, interviews (with 1st line operators, not only owners)
SOURCES (of RISKS): 1.Injuries--LIABILITY--LEGAL 2.Fire, EQ, Physical damage, operational environment--PHYSICAL 3. POLITICAL/ CULTURAL, SOCIAL 4. Cognitive (initiate some changes, esp.) e.g. proper training for employees, supply changes. 5. Economic environment (co. should look bigger, and wider. cos, by defraud, co. will have problems 2)
2. EVALUATE RISKS: Frequency, Severity, Urgency.
3. DEVELOP+SELECT TECHNIQUES (be careful! wot v r preventing/doing could cause new risks!)
4. IMPLEMENT
5. REVIEW+MONITOR
!!BE CONSTANTLY AWARE OF RISKS!!
Factory Tour 4 2moro:
basically toy manufacturers.
be aware of the things that could be problematic!
Qs for groupwork:
look from the Chinese perspectives and Canadian perspectives, wot's the differece?
wot's on the scene and wot's beyond the scene could possibly cause risks? (e.g. target custermers, market places)
wot if companies want to do business with these factories? test/ find out possible risks in other market places, say besides China and America. try to put it in Middle East, South Korea or some other countries.
for issue report:
get to the point! in a real world, v simply have 5 minutes to get this through to the CEO, dont play with words.
make a list of risks (after the tour)
justify why it could be a risk
y it could be a big risk for A but a little risk for B
the frequency of a certain risk among these factories
INTRODUCTION TO 4 FACTORIES WE'RE VISITING, by Pro. YIN:
"WATCH WHAT I DO, NOT WHAT I SAY!"
numers can decieve (statistics can cheat/ lie)
Shedule:
Thursday: AUDLEY (ALPHA) TOY. am 1993 1800 employees, 300 patens (#1 in China), million revenue (2006)
HUAWEI TOY. pm 1997 4000 employees
Friday: GUANGDONG ORIENT ZIRCONIC CO. LTD. am. high-tech innovation. more than 27% college grads, 47%senior pro. title in techniqur profession.
QUNXING TOY. pm 1991 .7 million annual export
Qs: why in Chenghai (the toy center)?
why Alpha/Huawei don't go public? does family business means backward? how do they manage?
Alpha chose to be diversified, to reduce risk, how's that? could be apply in other 2 toy factories?
what can be learn from toy manufactory? what's the similarity it has with other manufacory industries? (expending research)
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