Module 32: Case studies Flashcards
1
Q
To avoid major losses and disasters, companies must have organisational learning processes that enable them to: (4)
A
- be open to discuss their own past mistakes
- be able to learn from those mistakes
- be aware of the mistakes of others
- adopt industry best practices
2
Q
Lam’s seven lessons learned
A
- know your business
- establish checks and balances
- set limits and boundaries
- keep your eye on the cash
- use the right yardstick
- pay for the performance you want
- balance the yin and the yang