Managing Risk in an Uncertain World

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http://itunes.berkeley.edu/ (Itunes store-Business-Business Management-Managing Risk in an Uncertain World)

People in the entire world are taking risk everyday and they try to manage the risk, so that they can deal with less risk and get more benefits at the end. How can people do that? What are some strategies of taking risk away? The answer was given by Sysco company, which is one of the biggest food supply in the world. Sysco had established for 20 years in North America. It has approximately about 35000 employees in 60 countries in the world. There are couple reasons to avoid from taking risk such as: first we have to understand the risk and what kind of risk could effect the company because not all risks are bad. There are some risks that provide future benefit to the firm; however, most of risks are very negative to firm. Talking about a company, share holder value is the most significant sector, but in fact employees are even more important because they are the biggest asset of the firm. No employee no firm. Therefore, company has to protect employees and the reputation at the same time. In order to respond consistently, employees of the firm have to understand, coordinate and discus about risk throughout the cooperation and manner. The benefit from that will create efficiency within the firm and firm can manage when disasters do strike. Everybody in the firm try to make the firm from reactive to more proactive, which is from protection to growth. Make sure that employees are optimizing the risk so that they are be able to respond adequate and tolerate certain level of risk. To build an adaptable enterprise so that employees are self-optimizing and self-correcting to when they see something wrong or goes to an unappropriated way, they are be able to switch and adapt to the new risk very quickly.


Opinion:

From my point of view, I think that taking risk is sometimes good in term of future benefit because people not always have options; therefore, they have to take risk many times instead of giving up things. What we can do is try to understand it and just go over it after all. How do we do that? Doing survey is one of the best strategy for a big firm that has lots lot money to understand their risk from other people. As soon as we understand our obstacle, we can manage and fix it easily. New risk always come up after one and another, so the company has to fix it in a very fast strategy. Therefore, I think that what the firms can do is create a risk discussion group in all place, so they can figure the solution by themselve among their group. Do not forget that different palces different risks and different ways of solving problem.


Questions:

1: Why Sysco company needs to provide technology for desaster in New Orland since it isa food suppy company?

2: What will be the greates impact for a company while dealing with risk?