Risk management in car rental industry
- What is the risk management related topic idea you wish to investigate?
The risks that a person encounters when he or she rents a car
- Why did you pick this idea? If it is covered in the class materials, how would what you investigate differ from what was already covered?
The fundamental reason for selecting this topic is because the car rental is one of it requires high capital input in the industry. Ideally, rental fraud, finance, as well as traffic accidents are the main risks documented in the car rental industry. As a result of that, it is paramount to take into account the manner in which the car renting industry takes into account the parameters that they utilize in managing and controlling the risks that evolve (Dallas, 2006).
- What are you basically interested in learning from this assignment?
As much as the car renting industry is concerned, it was paramount to understand some of the emerging issues that affect such an industry. The reason for that is because the automotive niche is extremely becoming more attractive for the majority of the organizations that desire to widen their services (Herrmann, 2015). The continued change in mobility trends also takes into account the manner in which the desired customers access the same services.
- What is a practical application of your topic? (If not sure, just give it your best shot.)
One of the factors that will have to be taken into account is the manner in which customers are accessible to the services that the car renting industry offers. In this case, it is important to understand the primary features of the same industry. Such features include increasing changes in the market niche which the majority of the car-sharing operators have to encounter on a daily basis.
- What help will you need in completing the assignment?
One of the mechanisms to will have to be employed is taking into account the evaluations that engulf the industry in terms of the insurance claims that are being forwarded. As a result of that, it will be vital to consider the potential relationship that the car renting industry has with its potential customers (Jacoby & Howard, 2015). The theoretical, as well as the industry practices, will have to be taken into account so as to have the required data regarding how it can become one of the embraced leaders in car rentals.
References
Dallas, M. (2006). Value and risk management: A guide to best practice. Oxford: Blackwell Pub.
Herrmann, J. W. (2015). Engineering decision making and risk management. Hoboken, New Jersey : Wiley
Jacoby, B., & Howard, J. (2015). Service-learning essentials: Questions, answers, and lessons learned. San Francisco, CA: John Wiley & Sons.
