In late summer of 1991, Gatorade ran an advertisement featuring a then 29 year old future Hall of Fame NBA player, Michael Jordan. It just aired right after he just won his first of six total NBA Championships. This ad was going to feature the first official athlete to be in a Gatorade ad. The ad’s focus was to young adults who are dreaming big, and want to become this great athlete along with being a great person. That is what Gatorade wanted to convey in this ad.
The case involving Tiger Woods and the Christensen shipyard company on the use of tiger woods name and photographs is a tort of invasion of privacy and a violation of his right of publicity. This right protects an individual to be free appropriation of ones persona. Therefore the defendants using Tiger Woods name and photographs in their ships can be asserted as a breach of right and an intrusion on his publicity for business gain. For instance the ship yard did not have First Amendment rights to present truthful facts regarding the use of Tiger’s name and photographs for that promotion, they did it without his consent. Besides, having the ship written privacy does not have any impact on the case.
When an organization like a bank fails to come up with ways of mitigating any risk that they face or could possibly face. The impact of risk can have far-reaching effects on an organization that fails to be prepared. Organizations like banks can benefit from considering their risks especially when it is doing well and when there are indications of market growth. It is advisable for risk management to be used as a preventive measure and not a reactive measure. The risk management process is all about identifying exposures to risks, measuring those exposures and making a decision on how to protect the business from the risks (Kidwell et al., 2016).
Walmart has asked the four questions that all organizations must ask themselves during the implementation process of the enterprise risk management program. One of the most important questions or steps in this process is identifying the risks. Identifying the risks first helped Walmart to prioritize their biggest risks. Walmart schedules four and five-hour workshops with senior help identify risks but before this, the business leaders has objectives already clearly defined (Atkinson, 2003). The business objectives are used to determine
But Quacker’s attempt to change it into a lifestyle brand resulted in the loss of those customers. Quacker had done an excellent promotion job with Gatorade by associating the sports drink with prominent sportsmen like Michael Jordan and increasing visibility in the National Football League’s televised games. However, they failed to do the same with Snapple. Instead, they fired Wendy. Wendy Kaufman had served as an essential promotional figure.
QUESTION 1 Risk management strategy includes adopting of a planned and systematic approach to the identification, evaluation and control of the risks facing the organisation or company. This project management method is used as a strategy of minimising the costs to the company or organisation and disruption to the council caused by undesired events. Below are the five common project risk strategies that workers or project managers use to identify threats on a project: Financial risk management strategy: Financial risk management strategy involves ideas and actions that are taken to counter attack all financial risk that are in line with any company project. These various strategies include important methods. Financial risk management strategies include reviewing the similar project available for evaluating the financial risk during the execution of a projects.
Through thorough and systematic analysis of the escalation processes of project risk to continuously improve the degree of maturity. Proactively managing uncertainty, quantification of risk and implementation of more risk management processes. Informational context – consistent risk information and availability of knowledge. Risk awareness and maturity (Issacs n.d.) suggest the following in integrating risk awareness and maturity within an organisation; • When recruiting staff knowledge of risk management should be a selection criterion • A safety team that reviews and addresses all near misses, incidences, accidents and injuries • Performing risk audits throughout the organisation • Workshops on risk management held by risk management experts • Visible posters promote safety and risk management around the organisation and areas of operation • Benchmarking - learning about the best practice from other organisations and industries Risk maturity, risk culture and integration
2. Risk Management Defined: The Economic Times (2017) defines risk management as the proactive identification of potential risks, their analysis and the mitigation of the implications of risk. (http://economictimes.indiatimes.com/definition/risk-management) 4.1 History of risk management: Risk management is an integral aspect of and is synonymous with corporate governance. According to Dione (2013), risk management has relatively new beginnings, with an awareness commencing from post World War II, where risk management was primarily associated with financial risk mitigation, but has now widened it’s scope to various other non-financial risk management events. As individuals and organisations, there is a tendency to underestimate their
Risk is any unwanted event or situation that can lead to the failure of your project (Rosenau & Githens, 2011). There are different types of risks including social, political, and cultural (Perminova, Gustafsson & Wikström, 2008). Risks are inevitable in any project and can be controlled by doing risk management (Loch, DeMeyer & Pich, 2011). Risk management basically deals with exploring, identifying, analyzing and mitigating risks that are anticipated in project implementation (Rosenau & Githens, 2011). This is an action plan that consists of various steps that should be done to ensure the removal of risk (Perminova, Gustafsson & Wikström, 2008).