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Management Book Report/Review
Pages 4 (1004 words)
The introduction chapter of this paper instigates with detailed explanations and critically reviews the quotes and definitions of the word globalisation. Diverse populaces of dissimilar culture and regional backgrounds have conflicting views on globalization which has profound effects on risk management.
The author critically differentiates the two expressions. A historical analysis by Aristotle serves as a convincing and illuminating paradigm of the difference between chance and fortune. The terminologies fortune and chance, luck and misfortune are compared in daily or normal parlance and also in the business milieu. It is imperative that chance and fortune being evaluated in the business and the economic sector. This argument is coherent and explanatory though it is incapable of clearly defining and differentiating these expressions. The argument that fortune and chance can be controlled and comprehended is put forward. This was as suggested by Machiavelli. However, Machiavelli also agrees that half of what happens is unplanned. He categorically argues that, fortunes can be controlled and strategies must be developed to evade and elude chance. People of Latin origin view what is unexpected as fortune while the Anglo Saxon views it as chance. There is a clear differentiation of the applicability of these two terms based on the cultural difference.
Further, the Latin culture emphasize that destiny can be altered and deciphered while in the economic and administrative perspective, chance is indescribable, indeterminate and un-understandable. ...
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