The U.S. is known for its “separation of powers,” where powe…
The U.S. is known for its “separation of powers,” where power is deliberately fractured between the executive, the legislative, and the judicial branches of government. Each branch, ideally, has the power to check the others so no single branch becomes too powerful. This is to ensure the number of keys to power remains large. If you wanted to turn our democratic system into a dictatorship, then using the game theory laid out in the Rules for Rulers video, what steps would you need to take / changes would you need to make to our current system?
Read DetailsThe COVID-19 pandemic caused personal risk (illness, and in…
The COVID-19 pandemic caused personal risk (illness, and in some cases death) to millions of people around the world; it has caused significant financial losses to many businesses around the world; and overall has disrupted the normal way of life for most people across the globe. Based on what is written above, what type of risk best describes the COVID-19 pandemic?
Read DetailsIn 2015, the fast casual chain Chipotle had over 500 custome…
In 2015, the fast casual chain Chipotle had over 500 customers in 43 different stores become ill from food that was contaminated with salmonella and E. Coli. In the weeks following this event, Chipotle had its biggest decrease in customer traffic, and in turn revenue, in company history. This spawning from significant negative publicity from news outlets and social media. As a result, Chipotle settled a lawsuit with the victims of the food-borne illness, where the company paid a total of $25 million in the class-action settlement. Secondly, Chipotle invested another $10 million in increased food safety programs for the entire company, to help minimize the risk of food-borne illness from occurring again. Finally, Chipotle invested $50 million into a major promotional campaign, including increased ad space and customer coupons for free burritos from any Chipotle restaurant. In terms of the Cost of Risk to an organization – what type of cost of risk does the $10 million food safety program represent for Chipotle?
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