University of Kentucky Importance of Risk Management Discussion

1)Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.

Also, provide a graduate-level response to each of the following questions:

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a) One of the main ways that culture is created and maintained within an organization is for the founder to only hire and keep employees who think and feel the same as he/she does. Discuss both the pros and cons of this idea and offer an opinion as to why this system can be effective?

b) Political uncertainties have been shown not to create as much stress for countries in North America as they do for countries in South America. Why is this the case?

2)Reflect on the assigned readings for the week. Respond to the following prompts: “What do I feel are the most important aspects of my learning in the chapters this week?” and “What about this learning was really worthy of my time and understanding?” Then explain how important it is in society or business.

Also, provide a graduate-level response to each of the following questions:

a)Henry Ford invented mass production. In doing so, he perfected the assembly line concept in which each worker does only one job or a handful of jobs and is given little other responsibility. This worked well for 70 years; however, it became apparent in the 1990s that an increasing number of U.S. companies could not produce a high-quality product by sticking to the assembly line model. What has changed

b)Discuss the risks involved in the project “buying a used car.” Develop a risk management plan for this project.

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