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Review of Risk Management Course

By Mr. Tony Liu, program participant


The picturesque scene took everyone’s breath away. Against the azure sky, space shuttle “Challenger” took off, with thousands of millions of eyes earnestly watching from across the globe. 13 seconds after takeoff, it suddenly burst into huge flames, which constituted the most tragic aeronautic exploration history of NASA. Investigation into the tragic event revealed that one of the most important reasons is that the side wind was not taken into consideration, which caused sparkles to be accumulated and finally triggered the explosion.

Who could ever have imagined that a mere wind could significantly contributed to such a huge loss?

This is a very impressive part from the Risk Management course, vividly elaborated by Professor Rodriguez to the Mannheim & Tongji EMBA class. Every company which aims at sustainable value delivery to the customer should be engaged in the important process of Enterprise Risk Management. This is a process that identifies risks across the organization, determines whether those risks can and should be mitigated and then adopts a plan to mitigate risks. The whole process should be conducted in an integrated and holistic way that considers how risks interrelate with our business as a whole.