Risk management significantly enhances business strategy in companies like Chipotle by allowing them to identify, assess, and prepare for any dangers, hazards, and other potentials for disaster that could interfere with their operations. In Chipotle's case, they analyzed their supply chain, categorized their risks, and created new risk prevention models to adapt. They also partnered with suppliers to implement rigorous food safety standards, incentivized food safety as a performance measure for quarterly bonuses, and created a culture of risk management. This proactive approach not only helps in mitigating risks but also contributes to the company's reputation and customer trust.
Did you know the Model 3 was one of Tesla’s biggest risks? Our Risk Management deck reviews the top...
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