Module 32: Case studies

Question 1

To avoid major losses and disasters, companies must have organisational learning processes that enable them to: (4)

Answer 1

• 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

Question 2

Lam’s seven lessons learned

Answer 2

1. know your business
2. establish checks and balances
3. set limits and boundaries
4. keep your eye on the cash
5. use the right yardstick
6. pay for the performance you want
7. balance the yin and the yang