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Explain appropriateness of the risk mitigating strategies

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Reference no: EM132164381

ASSIGNMENT TASK

Using relevant information (company accounts, organisational reports, press releases etc) undertake a risk audit on a company of your choice excluding the following companies:

British Airways, Tesco plc, Emirates Airlines and Marks and Spencer as these companies are used as lecture examples.

1. Explain the risk management process applied to the chosen enterprise.

2. Identify, explain and evaluate the critical nature and impact of ONE INTERNAL and ONE EXTERNAL risk (of your choice).

3. As part of the audit, categories the risks using the likelihood and impact grid.

4. Explain the appropriateness of the risk mitigating strategies identified in respect of the internal and external risks.

STRUCTURE

• Introduction
• Risk Context/Company Background
What does the business do? In what context does the business operate? A growing industry? A mature industry? Monopoly? A highly competitive industry? High or low profit margins? A multinational? Is the political context important? Is the social or technological environment important? What are the business's objectives?
• Explain and apply a Risk Audit to the business
Apply the risk audit to the business's External and Internal environment -explaining the process as you do this. What about the financial ratios -calculate and comment on these. Identify as many risks as you think necessary. Identify 'known' and 'probable' and 'controllable risks'. What is the current situation? What parts of the business are these risks affecting/or might affect the most?
• Choose ONE INTERNAL and ONE EXTERNAL risk you believe the company is facing
Go into more detail about these two risks. Evaluate these risks using the necessary models to identify and discuss the likelihood and impact of each of 'Atin these two risks. Who will these impact upon and why and how?
Based upon your evaluation, use the necessary model(s) to identify risk-mitigating strategies for each of these two risks
Are these strategies short term? Long term? Are they expensive? Complicated ) Why are they the best strategies?
• Conclusion
Current 'health' of the company? Current risks? Impacts? Recommended risk mitigating strategies?

Attachment:- Risk mapping and strategy grid.rar

Verified Expert

The solution contains more than 2000 words. The solution involves analysis of the external & the internal risks for the firm Tesco Plc. along with analysing the implications of the risks. The next part contains the details about the time-line wise risk mitigation strategies for mitigating one external & one internal risk. The solution is being done by using the Harvard referencing style.

Reference no: EM132164381

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Reviews

len2164381

11/12/2018 8:39:31 PM

11 Overall Presentation — Discretionary Marks [10 Marks] • Executive report format • Accurate pagination • Effective use of available literature and references • Good use of comparative and real company examples • Use of available empirical evidence

len2164381

11/12/2018 8:39:24 PM

Use of Appropriate Risk Management Concepts and Models [10 Marks] • Use of varied risk management models to underpin risks and proposed mitigating strategies • Risk mapping grid and strategy grid • The Shell Model 10 Summary and Conclusion [5 Marks] • Brief outline of key issues • Conclusion drawn from the rest of the discussion — linking back to the introduction

len2164381

11/12/2018 8:39:15 PM

strategies to deal with the internal and external risks identified in the assignment brief • Explanation of why the strategies are considered appropriate

len2164381

11/12/2018 8:39:01 PM

Risk Mitigating Strategies [15 Marks] • Effective outline and explanation of mitigating strategies to deal with the internal and external risks identified in the assignment brief Explanation of why the strategies are considered appropriate Use of Appropriate Risk Management Concepts and Models [10 Marks] • Use of varied risk management models to underpin risks and proposed mitigating strategies • Risk mapping grid and strategy grid • The Shell Model

len2164381

11/12/2018 8:38:55 PM

Situation Analysis — Risk Profiling [5 Marks] • Explanation of the nature, content and importance of the situation analysis Critical Evaluation of Internal and External Risk [15 Marks] • Explanation of the nature and content of the risks [from broad to specific definition] • Risk assessment — bearing in mind upside and downside risks • Effective use of the analytical frame — diagnosis (did the risks happen in the past}; analysis (are they happening now) and prognosis (will they occur in the future) • Important — explanation of why these risks are considered critical (critical nature of the risk regarding frequency of occurrence and gravity of impact)

len2164381

11/12/2018 8:38:40 PM

Introduction [5 Marks] • Purpose of the assignment • The structure of the assignment Brief Overview of the Company [5 Marks] • Type of the company • Products and markets — global, regional or national • Peculiar issues facing the company, which are directly connected to internal and external risks under investigation Risk Audit [5 Marks] • Generic internal and external risks facing the company • Brief examination of risk mitigating strategies as outlined in the annual report — how these risks are currently being dealt with by the company • Brief examination of risk mitigating strategies adopted by the company — a prelude to an examination of internal and external risks

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