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Hi Mike
Im having trouble with Business risks. I can identify them but explaining them im having trouble in explaining them. Business risks might be the easiest however i find them the hardest. I got 31 when they came up in Dec but when RoMM came up in march i got 46…
Just need to be spoon fed some info
thanks
If you can identify them, what’s the problem explaining WHY they are a risk or, if asked, explaining how to manage those risks
The “why” must be obvious – you’ve just identified that they exist so you must have thought they are a risk because ….
The “how to manage” is surely a matter of common sense – can we reduce? Avoid? Transfer? or do we simply accept?
But, believe me, it’s not rocket science
Give me an example and I’ll illustrate it for you
OK?
The business risks was to do with an airline in dec 2016 from what i recall. So an airline…
I dont believe that i explained them properly in dec 2016 thats why i got a low mark.
thanks
Business risks?
Fuel prices (OPEC controlled)
Fuel shortages (again, OPEC controlled)
Strike action in overseas countries preventing our flights from landing (French air-traffic controllers)
Strike action of our own air- or ground-crew (BA staff 2 or 3 years ago)
Growth of cut-price airlines (Easyjet, Ryanair, Wizzair …)
Natural events (Ejaffjallajokyll volcanic ash)Those have come easily to my mind
They are probably totally irrelevant to the exam question to which you refer but they do illustrate that, with a bit of imagination, you can come up with something that should score
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