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Case Study: Flydubai

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Introduction
The basic definition of risk is the uncertainty of the loss for the company. Risk management strategy refers to the company according to their own conditions and external environment, around the company development strategy to determine the risk tolerance, risk appetite, risk management effectiveness of the standard, select the risk, risk transfer, risk aversion, risk hedging, risk conversion, risk control and other appropriate risk management tools, and to determine the principles of human and financial resources required for risk management. (Mark,L.2011)

Risk management strategy is based on the business strategy to develop a comprehensive risk management of the overall strategy, it’s plays a role in guiding the overall situation in the entire risk management system. And in the process of enterprise strategic management, it’s plays a guiding role in the
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It’s forming at the first low-cost airline in the city. And it’s founded by Emirates Chairman Ahmed Bin Saeed AL Maktoum. So the company has some cooperation with Emirates. Now a days, they fly to more than 85 destinations with 1400 flights a week. And they have a force of more than 3000 employees.( CAPA.2017)

Risk management strategy -
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As Flydubai was founded by the Ahmed Bin Saeed AL Maktoum who is also the founder of Emirates airline, we did an analysis on the risk management strategy of Emirates Airline to explore the principles used in the airline industry in Dubai at large. Emirates Airlines’ risk management is focused on financial risks, however, it doesn’t have a clear strategy for procurement risk management, which is also the case of most of the airlines in Dubai. Therefore, we referred to researches in this field in sought for strategic risk management
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