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Concepts of error and risk in management

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  1. Introduction
  2. SWOT analysis
  3. BCG Matrix
  4. Spotlight: Real Estate
  5. Cow milk: Colas
  6. Dilemma: Bouygues Telecom and Construction
  7. Dead weight: TF1
  8. Three scenarios for Bouygues
  9. Conclusion

Danielle-Claude Belanger (1997) expresses what according to her is a mistake 'A mistake is a mistake; it is the fact of being wrong; it is serious, shameful and dishonoring! It makes us dream of being six feet underground; it prevents us from sleeping afterwards; it discourages, it is ugly, bad, and miserable. Basically, what is known of the mistake, it makes us realize that we are still live?'

According to Belanger, two attitudes are possible for error; either it is considered that the error committed depends on a factor or on oneself. In the latter case, the error is "wasting" all the good quality of a person; it is treated as a level of competence. But it is important not to reduce the level of competence. This leads to redefine the error as follows: 'observable part of a certain conduct that is deemed as wrongful'.

It also tells us that above all, the error is an interpretation and one is aware that everyone interprets things differently from what they are and the interpretations may not be the same. The author also mentions that the error 'is only a hint of what's happening at deeper levels'.

Therefore according to her one has to go to the source of this error to understand, correct and improve.

Henry Lang (2003) through his work, which takes a dramatic event of the history (the shipwreck of Titanic), tests through the errors that made to draw from the lessons of management, so that these errors are useful, and thus are not forgotten. It allows one to correct and prevent similar errors in the company.

These are some of the conclusions which Lang gives every time: The manager's decisions and actions that will be followed should not only be the consequences of prestige and honor. The manager must act as an example. He is the one who is most watched by his staff and sometimes even imitated.

It is necessary that a leader should never require more than total respect of ethics for him as well for tolerance at this level must be equal to 'zero'. Thus, it is necessary to develop specific rules of conduct.

The error should not be considered a failure. Finding the source of the mistakes, will derive a learning and so looking forward one can take the corrective steps to rectify the error or mistake.
It is by making mistakes that one is able to prove that this is a human race and not robots and it is indeed the result of sensitivity and interpretation.

Second, it is initially neutral, is the context in which it is that will makeit a positive or negative. It is understood that anyway some things are inevitable. Error is primarily a second chance and therefore taking a risk where the error may be the outcome that may well ultimately give better results.

In what the authors present there may be a mismanagement of the error as it may sometimes not be recognized by the person who took the risk and does not admit that it was wrong.

Tags: Concepts of error, risks, applicaple in management

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