Risk Management: A Comprehensive Guide to Identifying and Treating Loss Exposures
Risk Management
is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures.
What is a Loss Exposure?
A loss exposure is any situation or circumstance in which a loss is possible, regardless of whether a loss occurs.
Objectives of Risk Management
Risk management has objectives before and after a loss occurs.
Pre-loss Objectives:
- Prepare for potential losses in the most economical way.
- Reduce anxiety.
- Meet any legal obligations.
Product, Branding, and Pricing Strategies in Marketing
PRODUCT
A product is a set of benefits and services offered by a trader in a market. A favorable product encompasses everything a person receives in exchange, including tangible and intangible attributes such as packaging, color, price, and the manufacturer’s reputation. Consumers accept a product as something that satisfies their desires or needs.
CLASSIFICATION OF PRODUCTS
CONSUMER PRODUCTS
Consumer products are intended for personal use and purchased by consumers based on their wishes and needs.
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Engineering Economy: An Overview
Introduction
Engineering activities, encompassing analysis and design, aim to fulfill human needs. This dual nature of engineering involves understanding both the forces of nature and the diverse requirements of people. It’s crucial to evaluate engineering proposals in terms of their worth and cost before implementation.
Definition of Engineering
The Accreditation Board of Engineering and Technology (ABET) defines engineering as: “The profession in which a knowledge
Read MoreSustainable Management: Concepts, Challenges, and Solutions
What is Sustainable Management?
Sustainable Management is linked to 3 core disciplines: Sustainable Development, Business Ethics, and Corporate Social Responsibility (CSR). Topics from all three disciplines are covered and form together Sustainable Management. It is about incorporating global issues into business and your personal life. It is about responsible, ethical decision-making with an eye for social and environmental issues without making concessions to profitability.
What are the 5 Global
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Multinational Companies: A Comprehensive Overview
Phase 1: Initial Expansion
During the initial phase, production is concentrated in large developed countries. The product’s novelty offsets cost differences, allowing companies to manufacture in their home country.
Phase 2: Reaching Mass Production
As mass production is achieved, cost and price become crucial. Companies seek locations with similar conditions to their home country but with lower costs, often leading them to establish operations in other
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Bank Cards: An Overview
Bank cards, also known as “plastic money,” are payment methods that allow holders to purchase goods and services at participating establishments. They offer multiple benefits for banks, cardholders, and businesses, but also come with associated costs.
Benefits for Financial Institutions
Financial institutions have promoted the use of ATMs for cash withdrawals and deposits, reducing staffing costs. Interest income and commissions from card transactions are significant revenue
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