Questions:
Question 1
A retail store would like to use loss control techniques to manage their risk of theft. What could be done to lower the frequency of loss and what could be done to lower the severity of losses?
Question 2
After exploring the many laws and regulations that influence compensation decision making, which law do you think has made the biggest impact? Explain your answer.
Question 3
Managers use many different tools to accomplish their duties. Some are more helpful than others and it is important to know which ones to use in certain circumstances. How would the tools we have talked about fit into your project? How would you modify the Gantt Chart that was presented in your lecture notes, to fit your specific needs? Explain.
Question 4
It has been said that "it is always more efficient to retain a risk than to transfer it."
Do you agree with this statement? Why or why not? What forms of risk transfer can be used besides insurance?
Question 5
Using an Internet search engine of your choice, run a series of searches for historical data on the U.S. inflationrates for the past 40 years.
Complete a separate search on historical U.S. unemployment rates for the past 40 years.
After sampling the data, does there appear to be a relationship between the two? If so, what type of relationship? Does the relationship persist throughout the 40-year period or are there times when there are exceptions? Why might these exceptions exist?