Question 1 (50 marks)

Setting goals is a pillar for any collaboration/organization. However, goals do not always have positive outcomes. Goals might go wild and negative consequences might take place. In 750 words, discuss when and how goals can go wild. Discuss how poor risk management might lead to the collapse of organizations. Support your discussion with real examples in this regard and reflect in the end on how covid-19 circumstances might have had an impact on companies risk management.

Question 1 (50 marks) Setting goals is a pillar for any collaboration/organization. However, goals do not always have positive outcomes. Goals might go wild and negative consequences might take place. In 750 words, discuss when and how goals can go wild. Discuss how poor risk management might lead to the collapse of organizations. Support your discussion with real examples in this regard and reflect in the end on how covid-19 circumstances might have had an impact on companies risk management. Hint: To answer the query of this question, you need to refer to relevant course material and external resources. . You need to discuss side effects of too specific and too challenging goals from B325 course material. After discussing all negative side effects of too specific and too challenging goals, you need to focus your discussion on risk taking and poor risk management. You are requested to do a good deal of research to answer this question particularly the part related to poor risk management. You need to explain poor risk management based on your research of external resources and choose one or more company to explain how poor risk management led to the failure of such company/companies. At the end of your answer, you need to provide a personal opinion of how companies are to shift their risk management strategy particularly after covid-19 pandemic. Your personal reflection may be from a general perspective and not specific to the example you have chosen