Question

In: Operations Management

How can the risk of occurrence of crises such as the 2007-2008 global financial crisis be...

How can the risk of occurrence of crises such as the 2007-2008 global financial crisis be mitigated in the future?

Solutions

Expert Solution

Crisis occur when we give much importance to some entity and use it extensively. These leads to taking risks beyond limit in order to meet the demand and these risks will cost much in future which gives rise to crisis. These can be avoided by proper planning and making sure that the risks we take have back up and will not create major loss. It is better to avoid risks which costs a lot more than money . Having proper leader helps us avoid such risks and mitigating the occurrence of crisis in future.


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