Tuesday, 22nd June 2010
The morning started with discussions on Supply Chain Management - undoubtedly one of the most important concepts and processes in today's fast paced business environment. We learnt the importance of managing your supply chain, taking into account the demands from the customers and retailers and the related costs when the supply of goods do not meet the demands. To assist us in our understanding, we did an exercise to follow through the processes involved.
Then we had a session on Gender issues in the workplace. From the discussions held, we can safely say that women are slowly making their mark in the workplace - they are slowly breaking through those invisible ceilings and walls to make their presence felt - men are also accepting of this fact and society as well - with equal pay for both genders and other issues alike - they are slowly being addressed. I suppose we can say that Education has assisted in this regard - also - the widely held notion that women have been suppressed - now it is slowly fading into becoming a thing of the past.
The day ended with discussions on Risk Governance with Dr. Singalar. He described Risk as the probability of a favourable or adverse event happening or in terms of businesses - when projected cashflows are higher thatn actual cashflows. He described Governance as being concerned with protecting the interests of Stakeholders and in most cases, the regulators are the most important stakeholders. In terms of managing risks, he stated that Credit risks, operational risks and Marketing risks are easier to manage - issues that fall into the category of 'otehr risks' are the more difficult ones ot handle - these include regulatory risks, reputation risks, Legal risks and Compliance risks.
It was a good day.
MKN
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