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In: Operations Management

During this time of Pandemic, many businesses did not have contingencies for this type of risk....

During this time of Pandemic, many businesses did not have contingencies for this type of risk. Please identify a company that you feel either has done a good job or a poor job managing risk. Please make recommendations the company can use in the future to improve or continue to grow.

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The Aviation sector has been hit hard due to pandemic and the company that has been not able to handle this risk is VIRGIN AUSTRALIA AIRLINES. It is the world's weakest airlines which couldn't secure funds before the succumb to the corona virus.
Recommendations-
-The company should find a buyer who can either restructure or invest money into the company so that it can revive first.
-The company should not be owned by a committee as there are four aviation groups having 205 stake each. The management should be in the hands of the Virgin in order to make better decision for contingencies.
-The company should always ensure some financial assets which are liquid in order to avoid last moment disappointments of credit from government authorities or other companies.
-Analysis of proper cost structure and making efforts to reduce that and keeping it under control.
-Also always maintaining reserves for contingencies.

keosha answered 3 months ago
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