Risk Management and Loadshedding

Flashcards about risk management and loadshedding based on lecture notes.

What are some types of limited and valuable resources in a business context?

Resources are limited and valuable, including People, Time, and Assets.

What does 'Risk' include in a business context?

Uncertainty and other factors outside of one’s control that may impact the business.

What is the purpose of developing a plan based on the knowledge of risks?

To protect resources and maximize resources.

According to the World Economic Forum Global Risks Perception Survey 2024-2025, what are the top two global risks ranked by severity over the short term (2 years)?

Misinformation and disinformation, and extreme weather events.

According to the World Economic Forum Global Risks Perception Survey 2024-2025, what are the top two global risks ranked by severity over the long term (10 years)?

Extreme weather events, and biodiversity loss and ecosystem collapse.

What are some impacts of loadshedding on clinics, hospitals, and other health care facilities?

Equipment destruction, surgical backlogs, and exposure to criminal activities.

What are some impacts of loadshedding on households?

Additional costs of alternative energy and risk to devices.

What are some impacts of loadshedding on education and schools?

Some schools poorly lit and online class attendance impacted.

What are some impacts of loadshedding on mental health?

Negativity, disengaged, less productive, less healthy.

Which production sectors are impacted by loadshedding?

Mining, Agriculture, Forestry and Fisheries.

What impact does load shedding have on retail businesses?

High diesel costs and damage to equipment.

What impact does load shedding have on profits?

High diesel costs and loss of production.

What economic impact load shedding had on Ebrahim Seedat's restaurant business?

Business closures.

What economic impact load shedding had on S’busisiwe Buska Sithebe's canned goods business?

Business closures

What impacts does loadshedding have on the economy?

Decline in employment and food security threatened.

What impacts does loadshedding have on the economy?

Reduction in GDP and downgrading of economy by rating agencies.

What is the impact of loadshedding on the economy due to the downgrading of the economy by rating agencies?

Increasing cost of capital.