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1、Unit 6,Risk,Warmer,Business Brief Risk The chance of harm, injury or loss=thread The chance of change of direction, growing and making profits =opportunity Trade -off: between risk and reward (利害，有多大利，就有多大的害。)物物交换,Warmer,The world is much riskier today, Because everything is much more interconnected
2、. -risk-management expert Ron Dembo（gave up a professorship at Yale University to launch his company.） - Has there ever been a riskier time to be in business? All business is built on risk.,Warmer,Risks in business Kidnapping of mangers Confiscation of assets （没收，充公） Devaluation of shares, currency
3、Be extorted: illegally be forced to give money.(勒索) Being insolvency: not having enough money to pay debts(无力偿还债务) Facing fraud and corruption,Warmer,Industrial espionage (商业间谍行为) Invest : putting money into a new venture Venture capitalist: who put money into such businesses spread their risk so th
4、at the payback from one or two successful ventures will hopefully more than compensate for the money lost in the failures.,Warmer,Reputational risk, brand suicide, product liability claim (产品质量承诺书) Product recalls (产品召回) The risk of management complacency (自满),Warmer,No Risk, No Reward youll meet pe
5、ople and organizations that are still prepared to gamble - intelligently, shrewdly, selectively - even in a period of insecurity and instability. Their stories offer lessons in strategy, marketing, leadership, R listen to the analysts. Theyre full of predictions: Interest rates will be lower. Intern
6、et stocks will crash. The Dow will go down. These so-called experts have no idea whats going to happen. Never confuse a forecast with a scenario.,Warmer,Regrets - Too Few to Mention? Lots of people think about risk in terms of probabilities. But probability is a way of analyzing events that occur ma
7、ny times. Most business decisions are one-time events. Thinking about probability doesnt help much with those decisions. Instead, you should think about what I call regret. Regret isnt the same as disappointment. Regret is sensitive to specific circumstances, and it adds a psychological factor to yo
8、ur choices. The great chance if you take it, you may make a great achievement, if you miss it, that never come again to your life.,Warmer,Form phrases with risky . Risky business Risky deal Risky investment Risky lending Risky project Risky strategy Risky undertaking,Understand the quotation, The po
9、licy of being too cautious is the greatest risk of all. -Jarwaharla Nehru ( 1899-1964), Indias first Prime Minister,Starting up,Task C-D 1 doing nothing 2 credit or guarantee risk 3 political risk 4 risk of catastrophe or disruption (= the risk of not being able to continue business as usual because
10、 of some unforeseen event ),Vocabulary: describing risk,Vocabulary: describing risk,Task B 1 e 2 f 3 g 4 d 5 c 6 b 7 a,Vocabulary: describing risk,Task C High: Great , huge , serious, significant, substantial, terrible, tremendous Low :Faint, low, negligible, remote, slight,Listening: Managing risk,
11、Task A 1 doing nothing 2 credit or guarantee risk 3 political risk 4 risk of catastrophe or disruption,Listening: Managing risk,1 a) true B) true C) false 2 1) the company will end up with obsolete product in an obsolete market 2) the customer may not pay 3) government actions may change the situati
12、on. 4) a company may encounter fraud or criminal damage.,Listening: Managing risk,Task B 1 companies should have good quality, up-to-date and reliable information available. 2 they should have a good management team in place to identify and deal with risks. 3 there should be good lines of communicat
13、ion between the people in the company who will play an important role in dealing with any risk.,Reading: Risks from globalization,Task B 1 e 2 g 3 d 4 f 5 a 6 c 7 b Task D 1 globalization 2 the development of communication technologies,Reading: Risks from globalization,Task E a) personal security ri
14、sk: terrorism, kidnapping, petty crime b) reputational risk: direct action by pressure groups, consumer activism, human rights demands c) political risk: international sanctions, currency devaluation d) financial risk: organised crime, fraud, corruption, extortion, petty crime,Reading: Risks from gl
15、obalization,Task F For example, the Ss might mention oil companies and environmental protest, pharmaceuticals companies and protectors against recession that particularly affects certain types of company.,Internet resource:,The Fast Company website features three articles, the first looks at the rol
16、e of Risk Managers in modern companies, another article features advice on how to manage risk, and the final article argues that there is no reward without risk.,Case study: A risk business,Case study: A risk business,Assets, other than stock, have declined in value, by 20 per cent, perhaps they have sold some equipment or property, or the overall value of its equipment has fallen because it is not being replaced. Stock has more than doubled in value, perhaps indicating
