Some examples of successful risk management in large companies include:
1. Tesla's risk management strategy for the launch of Model 3. Despite the high risk, Tesla successfully managed it by maintaining a strong supply chain, ensuring quality control, and effectively managing public expectations.
2. Google's risk management strategy involves a strong focus on data security and privacy. They have robust systems in place to protect user data and comply with regulations.
3. Amazon's risk management strategy includes diversifying its business operations to mitigate the risk of failure in any one area.
4. Apple's risk management strategy involves maintaining a strong brand reputation and investing in research and development to stay ahead of competitors.
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Did you know the Model 3 was one of Tesla’s biggest risks? Our Risk Management deck reviews the top Risk Management tools from the biggest consulting...
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In 2015, the restaurant chain Chipotle experienced a string of E-Coli outbreaks that caused their profits to decline by 95% by the next year. In total, the company lost about $8 billion in shareholder value and had to pay $25 million in government fines. Why did this happen? Chipotle didn't do enough due diligence to manage the risk when they switched to a decentralized vendor management system. This left the restaurant chain open to E-Coli infections from individual locations that prepped their produce improperly.
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