The Consequences of Decisions
Risk is Inherent in Decision-Making
RISK is the
of a negative occurrence
happening in the future.
INTERNATIONAL RISK MANAGEMENT
The illusion of validity
Tversky and kahneman (1974: we have preconceived notions of what is true and tend to believe we are right, thus have heuristics and
Heuristics: a distinctive way of thinking
WEEK 11: RISK MANAGEMENT SYSTEMS I
1. Flaus, Jean-Marie 2013. Risk Analysis: Socio-technical and Industrial Systems (Chapter 4)
First version of the AS/NZS 4630 risk management standard was published in 1995
ISO31000 2009 replaced the above standard
1.1 General macroecon. factors (PEST), Case: Sandoz generic pharmaceuticals, collectivist vs.
individualistic, risk aversion, income status of parents. 1.1 The illusion of validity Tversky &
Kahneman 74, heuristics (rule of thumb) & biases (tendencies). 1
IBUS3102 International Risk Management
Lecture 1. A FRAMEWORK FOR INTERNATIONAL RISK MANAGEMENT
Sandoz generic, pharmaceutical company
What sort of criteria should Sandoz use to choose an international market?
Porters 5 forces:
- bargaining po