RMI-2302 Chapter 9: Module 9 Readings

• School: FSU
• Department: Risk Management/Insurance, Real Estate and Legal Studies
• Course: RMI-2302
• Professor: Dr.Charles Nyce

Document Summary

Overview: the glo(cid:271)al fi(cid:374)a(cid:374)(cid:272)ial (cid:272)risis (cid:449)as (cid:862)a failure of risk (cid:373)a(cid:374)age(cid:373)e(cid:374)t(cid:863, but strategy (or lack thereof) played a role, (cid:862)fier(cid:272)e(cid:374)i(cid:374)g(cid:863) of (cid:272)apitalis(cid:373) (cid:448)s. (cid:272)orporate strategy. Is there a problem with strategy: competitive advantage time shortened, positional volatility of leaders, ho(cid:449) (cid:862)(cid:272)ool(cid:863) is fa(cid:272)e(cid:271)ook, need for adaptive strategy. I(cid:374)stead of de(cid:448)elopi(cid:374)g o(cid:374)e strategy (cid:271)ased o(cid:374) (cid:862)a(cid:374)alysis, predi(cid:272)tio(cid:374), a(cid:374)d dedu(cid:272)tio(cid:374)(cid:863: create a set of (cid:862)opti(cid:373)al (cid:272)o(cid:374)ditio(cid:374)s(cid:863) for the (cid:272)o(cid:374)ti(cid:374)uous e(cid:373)erge(cid:374)(cid:272)e of. Strategy should reflect environment: (cid:862) hareholder (cid:448)alue is a result, (cid:374)ot a strategy(cid:863, stability, growth, employees, what type of growth is sustainable, demographic trends, consumption trends. Article structure: four points of view from risk managers involved in strategic planning, harley davidson, molson coors, havertys, nyy. Molson coors: strategy group produces: short-term, medium-term and long-term strategies, risk management: what risks threaten thwarting those goals, example: taxation and international regulation, selling alcohol: country and state level regulations, sin taxes and implications.