Market leader activities from guideline 2 RISK

Activity 2. Vocabulary and Reading

Pages 53 and 54 Listening:

Exercises A

a)    Internal Risk: Injuries to employees within a factory or, a fire in a warehouse

b)    External Risk: Include an earthquake or a tsunami affecting a site, a change in exchang- rate mechanism

Exercises B

Risk

Exercise C

What are the five key steps to risk management?

1 Step: Recognise the strategic objectives for your organization and the key processes that your organization uses.

2 Step: Identify what the risk affecting the organization.

3 Step: Assess and prioritised those risks. Tool to recording prioritized risks is called a risk register.

4 Step: Mitigating risk. There are four ways of dealing with risk once risk has been identified. 1) Treating the risk. 2) Terminating a risk. 3) Tolerating a risk. 4) transferring the risk by means of insurance or other contractual arragements

5 Step: Flowed back through to one´s strategic objective.

Exercise D

Which three examples does Steve give of organizations or industries that failed to manage risk?

1.    Banking industry worldwide: there are massive implications, not just for those organisations and their shareholders, but also for the world generally – public finances and economic growth and so on

2.    American – based clothing retailer- that managed to lose 45 million credit – card details two years ago, giving rise to an 80 million loss and untold impact on its own reputation.

3.    Video – cassette industry. There are lots of organisations worldwide producing.

Those organisations have faced the ultimate risk of being replaced by another technology.

Exercise E

Underline the key words and phrases that Steve uses to structure his answer

·         Well, there are two ways or looking at risk…

·         Well, the good news is that risk management…

·         A great example involves…

Pages 54 and 55 Reading:

exercises A

v  What things do you and your family insure against?

·         We have house insure and car insure.

v  What sort of things do big international companies need to insure against?

·         I think that the companies have insure of natural disaster for example hurricanes, tsunami, earthquake, fire insurance in other words the companies need insurance all risk.

Exercise B

This article want to recognize the importance that the companies have an insure and how to minimized the risk in a companies or in home. Too is important to know that for the growth and globalization the insurance is a necessity because companies every day improve their infrastructure and employees.

Finally in the last part this article talking about the global economy is increasingly networked and interconnected. Risks are becoming ever more complex, and insurance industry has to develop new concepts.

Exercise C

·         How did the insurance industry start?

·         In fact, it was internationalization that paved the way for the beginnings of the insurance industry back in the fourteenth century.

·         What do reinsurers do?

·         Reinsurers to balance their portfolios and realice a level of capital efficiency that enables them to cover their clients ‘risk and ultimately those of the insured at a reasonable price.

·         How do the two examples of major losses in paragraphs 7 and 8 illustrate this quote?

·         Liability losses can reach extreme proportions when pharmaceutical products cause dangerous side effects in patients

·         The attack on the World Trade Center in New York was a prime example of the complexity of today´s risk with an accumulation of losses across a range of insurance classes such as fire, business interruption, liability, life and health.

·         Insurance companies that cover such large risks need a secondary market where they can place them. Reinsurers assume this function

Exercise D

In your own words, summarize the key points in the numbered examples

v  90% of transportation is by sea or other waterways, every day 13.000 containers are running of and every day as depots to goods worth tens of billions of dollars

v  The low-wage countries does not reduce the cost and reduce the quality of products, for example toys with lead paint and toothpaste contaminated.

v  Products that can be dangerous, for example pharmaceutical products.

Exercise E

1.    When the market of a product is responsible for any injury that the product causes: National law in the country where the products are sold plays a key role in this connection. The US, in particular, has seen some extremely high awards for damages.

2.    Money that a court orders someone to pay to someone else

3.    The collection of all policies held by an insurer:

4.    The total combined risks that could be involved in a single loss event:

5.    A terrible event that causes a loss of destruction an suffering:

Exercise G

1.    Bear the risks

2.    Spring a need

3.    Meet the brunt

4.    Pave the way

5.    Spread to mind

Exercise H

Immediately think of something: Spread to mind

Make it possible for something to happen in the future: Pave the way

Suffer the worst part of something unpleasant: Meet the brunt

Reduce the chance of a large loss by sharing risks: Bear the risks

Be good enough to do what someone needs, wants or expects: Spring a need

1.      Active and passive voice

ACTIVE VOICE	PASSIVE VOICE
In the active voice the subject is doing the action while the object is the one receiving the action.	The subject is the receiver of the action the doer is found at the end of the sentence
The sentences normally are in active voice it is also simpler compared to passive voice	In a passive sentence, the grammatical subject receives the focus
Grammar structure: Subject (do)+ verb+ object (receiver)	Grammar structure: Subject (receiver) + be + past participle + by+ doer the action
Examples: Harry ate a sandwich this morning	Examples: This book was given by Mandy
Subject: Harry	Mandy who is the order of the action is now found a the end of the sentence
Verb: Ate
Object: Sandwich
My sister borrowed my car	My car was borrowed by my sister
My dog ate the Bones	The bones were eaten by my dog

Activity 3. Speaking and writing

Pages 56 and 57

Exercises A

Exercises B

1.    Now, just to sum up, we have looked at… some different locations

2.    I think it´s a really great place… um, again because of all the things that we can do in our free time

3.    So can we all agree, then, that we go with Florence? Yes

4.    I think that most of the time we’ ll be spending indoors.. So, you know, I think with the budget…

5.    Now, what about the activities? Um,

6.    What did you come up with, Carol, for the actual workshops?

7.    I thought it might be a good idea to use role play within, um, the workshops, so maybe pick a scenario for, um people to use and then, um in groups discuss how they could..

8.    I think some kind of interaction is a good idea in these conferences because sitting and listening to different presentations for three straight days gets really quite dull and

9.    Ok, so we go with the workshops, then?

10. Well, I don’t know about role plays, though. I like the idea of interaction. But I

11. I was thinking maybe something like, you know, a simple quiz,  um, and we´ve had quite a few quizzes in the past and it went over really well because it doesn’t take a lot of time and it´s something to look at, to focus you while you are listening to the presentations….

12. Exactly

So can we, we, we´ll put that into, definitely put that into the programs

13. Yeah, That´s a brilliant idea… Ok then. And I know that, Caroline, You talked about the gala dinner….

6.  Write a formal e-mail

Dear Ms. Gómez

It was a pleasure meeting you, but unfortunately I don’t have good news, Mike Harris, who is the best foreign correspondents was in an unnecessary risk in a war.

For these reason one person was killed and two more were seriously injured. We consider that he shouldn’t to be here in this moment.

Since then, we have found officials advertisement about hostile territory and he ignored this.

We consider that is important to have and advertisement for him, and he will suspended for one month of him post

Please could you confirm that you receive my email, and I hope yours comments.

Sincerely

Gloria Amparo Chacon 

Assistant manager

International Center 

Bogotá