Risks and rewards

            Any human work is subject to risks and rewards and this applies to all businesses. Risks can be taken by any business with an aim to gain something of value but this is not usually the case as some of these endeavors happen to cause loss of the company’s value. When there is gain from any risk taken then a reward is attained. Risks are often unpredicted and thus they have an uncontrolled result due to the action was undertaken in spite of the improbability. Sundance Helicopters Company is no distinction to the other businesses and it is also subject to various forms of risks. The company over the years has recorded some of the large risks that have affected the company negatively. The company has also gained from the various undertakings that they have undertaken and this has resulted to the rewarding of the company. It is, therefore, essential that the company’s administration should work towards reducing the uncertainties through the setting of strict rules laws and regulations that will help in the reduction of the risks and thus allowing the company to attain more rewards. This paper will, therefore, present some of the risks that the Sundance helicopters company is facing and the rewards in the company and how to manage them.

Employees fatigue is another risk that is evident in the company. This is because of the long working hours for the pilots and the maintenance personnel. The company has recently caused an accident that is believed to have been caused by one of the employees who was in charge as he failed to carry out his role as he was asleep since he had worked for two shifts (Daily Mail 2011). This has caused harm to other people and especially to those who were injured and more so to those that lost their lives in the accident. This has also resulted in a large amount of loss for the company as many of the customers are scared away from using the company’s transport services due to their recklessness that causes accidents.

            Poor communication is one of the risks in the company as it has caused harm unto the people. It is through this action that the maintenance department has been unable to fulfill their obligation as there is no flow of information within the departments. Thus there is no immediate communication of any problem that may occur with the helicopters hence there is a high tendency of slow or no response from the maintenance department as they are not aware of the problem.

            Lack of documentation is another risk that is undertaken in the company since there is no documentation of the activities in the company. Thus the company has not been able to adequately solve the inconsistencies that are identical with the weak organizational structure of the company (NTSB 2011). Thus follow-ups and chronological institutionalization have not been effective in the company and this has affected the business as it has not been able to trail its performance progress. This has thus caused the company to fail ion their operations as it has not been able to act accordingly to the areas where the company is lacking and especially in the maintenance department.

            Lack of maintenance error is another risk that is involved in the company. This has resulted to the occurrence of mistakes regularly in the company and this has caused delays as a result of failure to maintain those errors and mistakes in the company’s operations. Failure of the maintenance of these mistakes has resulted in the cancellation of flights and thus destroying the customer’s loyalty of the company’s performance (Werfelman 2013).

            The fact that Sundance Helicopters Company is still leading in the aerial tourism sector in the Grand Canyon region, they have been able to attract more customers and this has enabled them to experience rewards.

This company is relatively large and has a high number of loyal customers and this increases the extent at which the company offers their services in the transport industry. This, therefore, increases the number of returns that the company receives as a result of their actions. However, the company has not yet fulfilled the maximum amount of rewards that they are supposed to attain and thus they should look forward to increasing their customer base as well as focus on being customer-centric business thus attracting more potential customers.

            In conclusion, it is important to understand that risks affect the business performance and success. Hence it is important for new strategies, rules, regulations and standards to be put in place so as to be able to reduce these risks and uncertainties. Customization of the company’s operations and management will enhance the company to realize more rewards as risks will be reduced. Accidents will be minimal as the employee's morale will be enhanced through proper working conditions in the company with proper communication and documentation. This will, in turn, attract more customers in the company and hence the company will be able to realize high profits.

 

 

 

 

 

 

 

References

            NTSB. (2011). Loss of Control Sundance Helicopters, Inc. (1st ed.). Washington, D.C. http://www.ntsb.gov/investigations/AccidentReports/Reports/AAR1301.pdf

            Daily Mail. (2011). Tragedy in Sin City: Newlywed pilot and couple celebrating 25th wedding anniversary among five killed as Vegas tour helicopter crashes into a mountain. Mail Online. Retrieved from: http://www.dailymail.co.uk/news/article-2071406/Las-Vegas-helicopter-crash-5-dead-Sundance-Helicopters-accident.html

            Werfelman, L. (2013). ‘Inadequate Maintenance’ | Flight Safety Foundation. Flightsafety.org.  http://flightsafety.org/aerosafety-world-magazine/apr-2013/inadequate-maintenance