Operations and Supply Chain Management 9th edition
9th Edition
ISBN: 9781119320975
Author: Roberta S. Russell, Bernard W. Taylor III
Publisher: WILEY
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Chapter 10, Problem 18Q
Summary Introduction
To explain: The ways the company uses to manage the risk in global supply chain.
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Mention four early warning indicators that a business may be at risk.
6. Identify and describe any four hazard-based risks.
5. Explain how social media can pose a risk to small businesses.
Chapter 10 Solutions
Operations and Supply Chain Management 9th edition
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- Define risk management and explain its importance in a small business.arrow_forward1. Define risk management and explain its importance in a small business. 2. Describe three types of risks commonly faced by entrepreneurs. 3. Explain the purpose of a risk register. 4. List and briefly describe four risk response strategies. (5 marks) (6 marks) (4 marks) (8 marks) 5. Explain how social media can pose a risk to small businesses. (5 marks) 6. Identify and describe any four hazard-based risks. (8 marks) 7. Mention four early warning indicators that a business may be at risk. (4 marks)arrow_forwardState whether each of the following statements is TRUE or FALSE. 1. Risk management involves identifying, analysing, and mitigating risks. 2. Hazard risks include interest rate fluctuations. 3. Entrepreneurs should avoid all forms of risks. 4. SWOT analysis is a tool for risk identification. 5. Scenario building helps visualise risk responses. 6. Risk appetite defines how much risk an organisation is willing to accept. 7. Diversification is a risk reduction strategy. 8. A risk management framework must align with business goals. 9. Political risk is only relevant in unstable countries. 10. All risks can be eliminated through insurance.arrow_forward
- 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward10. Which risk category refers to taking advantage of a new opportunity despite potential challenges? A. Hazard B. Uncertainty C. Opportunity D. Strategicarrow_forward
- 6. A business continuity plan is mainly used to_ A. Increase profits B. Handle daily tasks C. Prepare for disruptions D. Advertise services 7. What is the role of a risk owner? A. To finance the risk B. To monitor and manage a specific risk C. To create risks D. To avoid planning 8. Early warning indicators help businesses to_ A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes_ A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forwardFill in the table below with the activity times after crashing to show the resulting schedule. (Enter your responses as whole numbers.) Activity A B с Time according to schedule (weeks) Activity F G H Time according to schedule (weeks) D E COEarrow_forwardGiven the information below, estimate the probability that the noncritical path B-F-G will take more than 20 weeks. Hint: Subtract from 1.0 the probability that B-F-G will take 20 weeks or less. Refer to the standard normal table. Activity A Expected Time (weeks) Variance 3.5 1.00 BCDE 5.5 0.96 C 4.0 0.45 12.0 1.78 6.5 2.25 F G 9.0 2.78 4.5 0.69 The probability that this path will take more than 20 weeks to complete is (Enter your response rounded to four decimal places.)arrow_forward
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