#149 Risk Management 2

Key Word

fallout: the unpleasant results or effects of an action or event

The fallout from the banking crisis has been global.

 

avert: ward off; turn away or aside; blunt. 방지하다. 피하다. (위험, 말썽) 상황을 피하기 위해 구체적인 행동을 취하며 피하다

We tried to avert our thoughts from our massive financial problems.

 

aftermath: something that results or follows from an event, especially one of a disastrous or unfortunate nature

Food prices soared in the aftermath of the drought.

 

think out of the box: 새로운 관점에서 생각하다. 

There is a view that risk management policies crush the entrepreneurial spirit within a company, discouraging managers from thinking outside the box.

 

evade: 피하다. (질문, 장애물, 등)을 용케 피하다, illegal 한 방법을 써서 (의무, 등)을 교묘히 피하다 

However, good risk management is not about completely evading risk any more than good innovation is about trying to be new without considering the consequences.

 

adversaries: 적

In fact, risk management and innovation can be partners, not adversaries.

 

underinvestment: 투자 부족

Effective risk management can reveal areas of underinvestment and expose new opportunities that may otherwise have been ignored.

 

weather the storm: 고비를 넘기다. 여기서 weather는 '역경을 이겨내다' 라는 의미

employ: (방법이나 기술을) 쓰다/이용하다

In times of financial crisis, what strategies would you employ to weather the storm?

 

competitive edge: 경쟁 우위

Suggests forming a strategic alliance with select grocery stores to gain a competitive edge on the competitors.

 

hamper: 방해하다, hinder

indeed: 실제로

Do risk management policies indeed hamper innovation?

Feedback

Original: They ignore the fact-checking and asking the hard questions, and that is blind spot, and they ignore the complicated examination anyway. So that's why they are in trouble now.

Better: They failed to fact-checking and ask the hard questions; they also avoided the complicated examination and missed the blind spt. So that' why they are in trouble now.

 

Original: Now they regret. We should examine the risk when we start something. 

Better: Now they regret it. We should always examine the risk when we start something.

 

Original: Korea has similar problem now. Today, a big building constructing company they declared the disruption because I think they forecasted the demand wrongly. That's why they declared the disruption. 

Better: Korea is currently dealing with a similar problem. Today, a big building construction company declared a business disruption because I think they overestimated demand.