This sort of takes me back a year when the whole BP oil spillage occurred in the gulf of Mexico. Obviously, given how things played out and how long it took the firm to control the situation and stop the leakage, BP overlooked many important safety issues, and lacked a proper contingency plan. In order for them save costs and time, they decided not to maintain the well properly, i.e, allowing it to relatively "expire" gradually.
I'm not trying to be racist here but I think there is difference in need for preparedness among different cultures. Chinese traditionally taught their kids to prepare for the future, whether is a saving habit or buying a house.
However, when it comes to a corporate level, the difference diminished. One of the contributing factors must be the conflict in interest. It's also one of the drawbacks of a limited-liability creature. People want to take the money, not the responsibility.
It's interesting how you have to put a value on protecting the asset, and if it exceeds that value that you just let it "expire". How does one determine the value of a human being, let alone a whole management team? In the event of a kidnapping, obviously kidnapper insurance will cover some of the ransom...but what if the amount requested is much more than the insurance will cover and the amount the company can afford to pay? Interesting.
This sort of takes me back a year when the whole BP oil spillage occurred in the gulf of Mexico. Obviously, given how things played out and how long it took the firm to control the situation and stop the leakage, BP overlooked many important safety issues, and lacked a proper contingency plan. In order for them save costs and time, they decided not to maintain the well properly, i.e, allowing it to relatively "expire" gradually.
Mohammed Macki- MGD415
10cct353MackiM 11 months ago
I'm not trying to be racist here but I think there is difference in need for preparedness among different cultures. Chinese traditionally taught their kids to prepare for the future, whether is a saving habit or buying a house.
However, when it comes to a corporate level, the difference diminished. One of the contributing factors must be the conflict in interest. It's also one of the drawbacks of a limited-liability creature. People want to take the money, not the responsibility.
Ally H.(C44)
allyho328 1 year ago
It's interesting how you have to put a value on protecting the asset, and if it exceeds that value that you just let it "expire". How does one determine the value of a human being, let alone a whole management team? In the event of a kidnapping, obviously kidnapper insurance will cover some of the ransom...but what if the amount requested is much more than the insurance will cover and the amount the company can afford to pay? Interesting.
-Jason Fung C44
jayfung 1 year ago