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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Companies like Google, Amazon, and Apple can benefit from risk management strategies in several ways. Firstly, these strategies help in identifying potential risks early, allowing the companies to take preventive measures. Secondly, risk management strategies help in reducing the impact of risks on the company's operations and financial performance. They also aid in decision-making processes by providing a clear understanding of the risks involved. Lastly, effective risk management can enhance a company's reputation and stakeholder trust, as it demonstrates a proactive approach towards managing uncertainties.

The main reason for Chipotle's E-Coli outbreak in 2015 was due to their switch to a decentralized vendor management system. This change left the restaurant chain vulnerable to E-Coli infections from individual locations that improperly prepared their produce.

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Risk Management (Part 2)

Did you know the Model 3 was one of Tesla’s biggest risks? Our Risk Management deck reviews the top...

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