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Essay / Research Paper Abstract
This 12 page paper looks at risk exposure and management within a large airline company. The paper is written in three parts, the first part looks at the types of risks that Southwest are exposed to, categorizing them into asset exposures, personnel exposures, liability exposures and consequential loss exposures. The second part of the paper looks at the controls that are in place to reduce or mitigate the risk. The last part of the paper discusses whether the firm is doing a good job of risk management. The bibliography cites 5 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TESWrisk.rtf
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Unformatted sample text from the term paper:
rates, some exposure is likely to result in a known cost or loss, whereas other losses may never materialize. There are different types of exposure; asset exposure, personnel exposure, liability
exposure and consequential loss exposure. By looking at an example company the way that these may all manifest can be appreciated, in this paper the example of the US low
cost airline Southwest is used, many other airlines in across the world will have similar risk profiles. In this paper we will look at some of the main issues only.
1.1 Asset Exposure Asset exposure is the potential risk to assets. There are two types of assets tangible or physical assets such as aircraft and property and intangible, such as
investment or financial tools and trade marks. The physical assets are exposed to exposure in a number of ways. Most physical assets, such as aircraft and other plant and equipment
will have a finite life, which is why they are depreciated over a period of time. Therefore they are exposed to a loss in value. Good maintenance and the use
of strategies such as refurbishing equipment may lessen the cost and loss of the wear and tear in the usual life, but this will also incur costs. These risks can
be assessed and are planed for in the way a firm buys and uses it physical assets. However, some exposures are more uncertain. Physical assets may also be subject
to unexpected damage, at one extreme there is the potential of damage from sabotage, such as terrorism or other purposeful damage from internal or external perpetrators as well as vandalism.
There are also natural dangers, such as the damage that can be caused by the weather such as lightening strikes, hurricanes and floods. There are also the asset exposures
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