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CIMAPRO19-P03-1 Exam - Topic 7 Question 77 Discussion

TDC is a company which runs gas-fired power stations in western Europe. The Risk Committee has just received a report that a power station built to the same design and specification in a developing country has recently collapsed. The causes of the collapse are unclear but the consequences for TDC would be catastrophic if something similar were to happen in EuropeWhich of the following actions being considered by the Risk Committee are ethical?Select ALL that apply
A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC and B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened and C) Draw up contingency plans in case some of TDC's power stations need to be shut down
D) Decide that the information available to date is too uncertain to take any action for now
E) Attempt to increase the level of insurance cover against this type of eventuality
F) Issue a press release confirming that all TDC's power stations are 'entirely safe'.

CIMAPRO19-P03-1 Exam - Topic 7 Question 77 Discussion

Actual exam question for CIMA's CIMAPRO19-P03-1 exam
Question #: 77
Topic #: 7
[All CIMAPRO19-P03-1 Questions]

TDC is a company which runs gas-fired power stations in western Europe. The Risk Committee has just received a report that a power station built to the same design and specification in a developing country has recently collapsed. The causes of the collapse are unclear but the consequences for TDC would be catastrophic if something similar were to happen in Europe

Which of the following actions being considered by the Risk Committee are ethical?

Select ALL that apply

Show Suggested Answer Hide Answer
Suggested Answer: A, B, C

by Sharen at Sep 13, 2024, 03:56 PM

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Denae
8 months ago
Issuing a press release claiming safety? That feels a bit sketchy.
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Isadora
8 months ago
Increasing insurance cover is definitely a good precaution.
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Beatriz
8 months ago
Not sure if just waiting is the best idea...
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Jacquline
8 months ago
Sending TDC experts to the site? Totally agree, that's necessary!
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Trina
9 months ago
A review by structural engineers sounds like a smart move.
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Martina
9 months ago
I feel like option F is definitely unethical. Claiming that all power stations are 'entirely safe' without proper investigation seems misleading.
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Alpha
9 months ago
I think option C makes sense too; having contingency plans is a proactive step. We practiced similar questions about risk preparedness.
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Elenore
9 months ago
I'm not sure about option D. It seems like taking no action could be seen as irresponsible, but I guess they might feel they need more information first.
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Elouise
9 months ago
I remember we discussed the importance of transparency in risk management, so I think option A is definitely ethical.
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Luke
9 months ago
I feel pretty confident about this one. The ethical path is to be proactive and transparent - get the experts in, make plans, and don't try to cover anything up. Anything less would be a breach of public trust.
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Kati
9 months ago
Hmm, I'm a bit unsure about this one. There seem to be a lot of options, and I'm not sure which ones are truly ethical. I'll need to think it through carefully.
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Pearly
9 months ago
This is a tricky one. I think the key is to focus on the ethical implications of each action and how they impact public safety and the company's responsibility.
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Emile
10 months ago
Okay, I've got a strategy. I'll start by identifying the actions that clearly prioritize public safety, like commissioning an independent review and drawing up contingency plans. Those seem like the most ethical choices.
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Stephaine
2 years ago
D? Really? That's the most unethical option of the lot! We need to take this seriously and not just wait around for something bad to happen.
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Jettie
2 years ago
E) Attempt to increase the level of insurance cover against this type of eventuality
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Emmanuel
2 years ago
C) Draw up contingency plans in case some of TDC's power stations need to be shut down
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Dorothea
2 years ago
B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened
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Shoshana
2 years ago
A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC
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Arlette
2 years ago
Haha, F is a classic 'bury your head in the sand' move. I bet that's what the management team wishes they could do, but ethics dictate we have to address this properly.
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Chantell
2 years ago
E) Attempt to increase the level of insurance cover against this type of eventuality
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Glory
2 years ago
C) Draw up contingency plans in case some of TDC's power stations need to be shut down
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Martina
2 years ago
B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened
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Twanna
2 years ago
A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC
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Kimi
2 years ago
I'm not sure about B and E. Sending experts to the collapse site and increasing insurance cover seem like good ideas too.
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Bette
2 years ago
I agree with you, Edna. A review by structural engineers and having contingency plans are important.
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Lonna
2 years ago
I agree, A, C, and E are the right moves. But I'm not sure about B - do we really want to risk sending our own people to the collapse site? Seems a bit risky.
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Josue
2 years ago
B) Send experts employed by TDC to the site of the collapse so that they can gather information first hand on what happened
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Irma
2 years ago
E) Attempt to increase the level of insurance cover against this type of eventuality
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Hana
2 years ago
C) Draw up contingency plans in case some of TDC's power stations need to be shut down
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Eleonora
2 years ago
A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC
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Edna
2 years ago
I think A and C are ethical actions to take.
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Cornell
2 years ago
Options A, C, and E are definitely the ethical choices here. We need to act proactively to ensure the safety of our power stations and protect the company's interests.
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Agustin
2 years ago
E) Attempt to increase the level of insurance cover against this type of eventuality
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Agustin
2 years ago
C) Draw up contingency plans in case some of TDC's power stations need to be shut down
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Agustin
2 years ago
A) Commission a reputable firm of structural engineers to carry out a review of all power stations owned by TDC
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