PhD Finance - Risk Management Tools Assignment Example | Topics and Well Written Essays - 250 words

PhD Finance - Risk Management Tools - Assignment Example e high investment in terms of knowledge, time and other resources, it is important that all organizations develop and implement these techniques to mitigate or eliminate the apparent risks that might be facing the organization. According to Youngberg, Risks in the organizations can appear in many ways, and when the management has not put appropriate measures to reduce to reduce the impact of the risk, it can have serious and significant consequences on the performance of the firm (2011, p. 24). In many occasions, organizational risks appear with no or very little warning and thus organizations should always equip themselves with the appropriate risk management tools. A good example of this is the recent worldwide financial crisis which had negative impacts on the performance of many organizations that had not put appropriate risk management measures in place. Even though it is impossible for an organization to completely eliminate risks, it is not impossible to manage and reduce the impact of risks (Munier, 2012, p. 75). Therefore it is the responsibility of the managers to develop processes and policies which can assist in identifying the various risks facing the organizations as well as analyzing the risks. Frame points out that there are various techniques which can help in the management of risks in the organizations (2003, p. 59). The risk management techniques may include, formation of specialized committees to deal with risk other than those from accounting or finance, employment of risk officers, creation of a risk management enterprise, and giving particular attention to the microeconomic risks which do not usually receive much attention (Calabro et al., 2011, p. 49). Some of the microeconomic risks could include environmental risks such as climate change, political risks such as elections and the general risks affecting the ind ustry. Even though investing in tools and techniques of risk management can seem as an expense to the organization, lack of

Case study, starbucks corporation Study Example | Topics and Well Written Essays - 750 words

, starbucks corporation - Case Study Example The mission statement of a company is a very important tool in its marketing. Starbucks mission states "to inspire and nurture the human spirit-one person, one cup and one neighborhood at a time" (Grundey, 2010). In other words, the company did not focus on serving great coffee but to have the customers engaged at emotional level. As explained by one of the company’s most successful managers, one that saw the most positive change in the success of the company, Starbucks was not in the coffee business to serve people but in the people business to serve coffee (Levi & Linton, 2003). In other words, the company sought to create a home away from home such that people had another place other than their workplace or their home where they could socialize and share their experiences as they drunk excellent coffee. It puts a lot of emphasis on sourcing the best coffee from the market. The company promoted not only the lives of those who supplied the coffee but roasted the coffee to ensure that its quality was superb. Maintaining topnotch quality coffee berries and proper manufacturing meant that people could bet on continued quality of the drink. That way, the stores remained favorite spots for the people. Starbucks also focused on employee involvement. In other words, there had to be a good environment for the customers whenever they visited the coffee shop. For this reason, the employees had to be excellent team members and had to be above average in terms of customer relations. Unlike most companies today, Starbucks did not focus on profits only. The company takes seriously the virtue of good neighborhood. In the stores, it did not matter the customers background or their color of the skin. Starbucks focused on being good to the community at large and to bring together partners, customers, and the whole community. Starbucks strategies had a lot of impact on the performance of the company. It is normal for some companies