Risk identification and management

Risk identification and management





Risk identification

Most of the businesses in the market are faced with various risks during their operation, and these create fear and tension whenever a project is underway. Risk identification is critically the first step in the management of risks in an organization. The Dell Company is one of the computer manufacturing in the United States of America whose operation has been influenced greatly by risks and has survived through identifying and managing them during board meetings. For example, the company wants to employ a team of engineering experts from Apple Company to assist them to improve their products to the clients which will cost them a lot of money.

Therefore, this is a potential risk that can make the company spend more money and no return on the same. This issue can be managed through performing a global conversation with the potential clients on the new improvement that will be made on the computer. Moreover, the other potential risk will be other competitors making the same improvement which will render no difference on the market. Therefore, the company can decide to move on with the project or abbot.

I would like to recommend that for the sake of the clients the company should just move on with the project for better performance in the market. If the other competitors like Apple stabilize the market, the company should perform a sales promotion in the globe particularly when the potential customers are or lower the price of the computer a bit from the ones Apple are charging. These will move risky but are potentially viable to bring some rewards. The company has come for not for fear of the market but by the brand that it has developed through understanding risk and reward.