Risk management case Essay Example | Topics and Well Written Essays - 500 words

Risk management case - Essay Example A table would be a suitable way to present your answers, with columns for the risks, the strategy and the type of strategy For such company as XYZ Ltd that specializes in technological devices for customers with visual impairment, risks in project implementation can be associated with its planning, cooperation with the provider of services, TECHNO Company in particular, the quality of components chosen by TECHNO and risk of losing potential customers due to the high competition in this sphere. Raz, Shenhar and Dvir (2002) consider that project risks are characterized by undesired events such as delays, excessive spending or unsatisfactory project results. Hence, for XYZ Ltd if the project planning in terms of developing of new watch would contain difficulties in using a new specific feature of voice recognition by the customers with certain disabilities, that will create the risk of usefulness of the entire project. For that purpose an advantage will be in arranging the watch the way to be easy in use by people with visual impairment. Despite the fact that in the present many techniques and suggestions were introduced for project execution, there are still gaps from various perspectives, which require managers to be responsible for making a progress of project (Razaque, Bach, Salama & Alotaibi, 2012). For XYZ Ltd, such approach is given to the third company-provider, TECHNO, which is responsible for developing of innovative speech recognition component using cheaper technology. The risk here is that while cooperating with TECHNO, XYZ can lose customers in other products if the new watch technology will be developed by TECHNO in the wrong way and the needs of customers will not be expected. As the main strategy of managing such risk can be tracking and combining of efforts of both companies in order to develop a good product. The other risk from XYZ Ltd perspective can be associated with the quality

Inequality Essay Example | Topics and Well Written Essays - 1500 words

Inequality - Essay Example It should be realized that every individual possesses different levels of skills ad capabilities. In order to become better leaders, it is important for the individual to grow and develop their emotional intelligence in order to manage people better. The need to cultivate emotional intelligence arises out of several needs (Goleman, 65). The case provides an analysis in which an individual is able to be self-aware and recognize the emotions as they occur around him. As John improves in EQ, he is able to understand himself better and the people he manages in the organization greatly depend upon him. More importantly, his social life improves drastically due to the self-awareness. This is certainly an important skill for all leaders as it enables them to discover and understand their skills, strengths and weaknesses. Such leaders are able to understand the emotions of their workers and therefore treat them in the most appropriate way. The result of such awareness is an improvement in the overall performance in the organization. From the case, it is seen that John eventually manages to stay aware of his feelings and those of his senior regarding his performance in the organization. He realizes that despite the fact that he is a good performer in his field, he still needs to horn his management skills. It is basically a question of managing emotions and clearly understanding the wider picture in the whole organization (Goleman, 23). At the end, it is seen that John cannot simply rush into decisions but will clearly manage his emotions and make the most appropriate decision. For leaders, emotional management is a vital aspect and should be greatly valued. A leader should know how to balance situations and counsel his subjects without showing any inappropriate emotions in the process. In such a case, the leader will earn and maintain their respect from the subjects. In the case of John, many workers are free to consult him on various issues as a result of