Small Perils Lead to Great Losses
Introductions
People sometimes ignore things, which they regarded as unimportant. However, these trifles may cause people great losses before they realize it. In this paper, we will mainly talk about three cases, one is Bhopal India Gas Tragedy, one is Asian financial Crisis, and the other is Fed’s stock crash in 1987.
These three cases had some similarities, all of which had some potential perils ahead of the disasters. For example, Union Carbide India Limited had significant problems in safety management before the disaster. The Thailand government didn’t have robust foreign exchange reserves before the financial crisis. For the federal government, the development speed of the real economy couldn’t catch up with the development speed of the stock market. Without any doubt, the three cases also had some differences between each other. These different cases are focusing on different fields and the type of loss. Moreover, the severity and spread range of both two financial crisis are also unlike.
Bhopal India Gas Tragedy
The Bhopal disaster was a catastrophic gas leak incident occurred to India at the Union Carbide India Limited (UCIL) in …show more content…
As a result, the local people didn’t have enough money to invest in pesticide. The revenue of Union Carbide declined dramatically. To compete with other competitors, the company make every effort to reduce its cost without considering the safety and pollution issues, which are significant potential risks concealed in Union Carbide. These actions included to combine the raw material production lines with the semi-manufactures production lines. However, the combination made the business processes more dangerous and complicated. In addition, the senior executives decided to use cheaper cyanide chemicals to produce pesticide without considering safe storage environment and storage
Introductions
People sometimes ignore things, which they regarded as unimportant. However, these trifles may cause people great losses before they realize it. In this paper, we will mainly talk about three cases, one is Bhopal India Gas Tragedy, one is Asian financial Crisis, and the other is Fed’s stock crash in 1987.
These three cases had some similarities, all of which had some potential perils ahead of the disasters. For example, Union Carbide India Limited had significant problems in safety management before the disaster. The Thailand government didn’t have robust foreign exchange reserves before the financial crisis. For the federal government, the development speed of the real economy couldn’t catch up with the development speed of the stock market. Without any doubt, the three cases also had some differences between each other. These different cases are focusing on different fields and the type of loss. Moreover, the severity and spread range of both two financial crisis are also unlike.
Bhopal India Gas Tragedy
The Bhopal disaster was a catastrophic gas leak incident occurred to India at the Union Carbide India Limited (UCIL) in …show more content…
As a result, the local people didn’t have enough money to invest in pesticide. The revenue of Union Carbide declined dramatically. To compete with other competitors, the company make every effort to reduce its cost without considering the safety and pollution issues, which are significant potential risks concealed in Union Carbide. These actions included to combine the raw material production lines with the semi-manufactures production lines. However, the combination made the business processes more dangerous and complicated. In addition, the senior executives decided to use cheaper cyanide chemicals to produce pesticide without considering safe storage environment and storage