scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 476
Most of us would have heard about the concept of Key Man Risk ie the danger for corporations that rely on one or a few key individuals and its impact on business value and sustainability Fashion firms with a celebrity designer for example or asset management firms with a star investment manager are particularly vulnerable We all could be exposed to this risk in various ways single income dependency in the family emirates dependency on its ruler and so on As most of the wealth advisors would say we must not keep all the eggs in a single basket Some of the risks can be diversified to minimize the impact however there are few which are beyond our circle of influenceIn this article I would like to focus on our dependency on plastic cards Today Its virtually impossible to imagine a life without plastic cards - Emirates ID Driving license Public transport card NoL eGate Card Debit card Credit card Loyalty Cards Access Cards and so on Imagine your life if one fine morning the technology behind these cards stops working - unable to get into your building due to non-working access card unable to park your car in the parking building you paid for unable to withdraw cash from ATMs unable to use public transport and unable to make any payment without cash ie Life becoming hellLets further trim down our focus to payment processing cards - credit cards debit cards prepaid cards gift cards etc If the technology or the company behind these cards suddenly stop supporting these cards it would lead to a disaster in our lives failure of entire eCommerce industry and all onlinetelephoniccash less payments Suddenly the demand for cash in the financial system would go up dramatically which the banking system might not be ready to handle with I am not trying to create a panic situation here but trying to analyse the impact of this
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA