What impact the risk may have on the company

Question 1

Write a formal, comprehensive, business report, including: proposal and recommendation (the format of the business report, note that it is written for the chairman)

1. Carry out all the elements, characteristics, problems, and relationships of the risk management programme.
2. How does the risk control plan help the company in three aspects: business sustainability, business continuity and crisis management.
3. This risk control plan is used as the basis for executive training

 

Reference does not need to be too much, and the highlighted places need to be quoted after rechecking, otherwise it is regarded as plagiarism.

Do not copy the contents of the ppt and materials, and write them in your own words after understanding

 

 

 

executive summary

The executive summary can help readers quickly grasp the purpose, conclusions and key recommendations of the report. The difference between an executive summary and a summary is that it provides key recommendations and conclusions.

 

To summarize and introduce the basic elements of the business case. Executive summary should not be too technical or lengthy

 

THE PROPOSAL

Purpose and objectives

To respond the increasing probability of potential risks from a dynamic and changing business environment, the company should make a specific risk management plan containing a risk management framework and an executives training workshop for launching the risk management programme and getting buy-in throughout senior manager. This programme will help the company form a excellent risk management system for better controlling risk events, maintaining company’s sustainability and stability, and enhancing awareness of crisis prevention.

 

To better realize the effectiveness of risk management programme, the top priority is to set an quantitative risk management objectives which is based on the company’s financial information. Secondly, building a risk identification system to identify key risk indicators. Thirdly, assessing indicators based on the likelihood of their occurring and impacts on the company’s objectives. The fourth step is to set a tolerance level for key risk indicators, and assign the risk indicators to relevant executives for monitoring. Next, selecting the critical risk events to do risk management by assigning them to corresponding responsible managers to make a risk migration plan. Lastly, evaluating the feasibility and effectiveness of the risk mitigation plan.

 

Benefit：

1

2

3

 

 

 

Introduction

Set the stage for what is included in the report

Highlight the major topics that are covered

and provides background information on why the data in the report are collected.

 

 

Body

1. Introduction of Risk management

Risk management encompasses the identification, analysis, and response to risk factors that form part of the life of a business. Effective risk management means attempting to control, as much as possible, future outcomes by acting proactively rather than reactively. Therefore, effective risk management offers the potential to reduce both the possibility of a risk occurring and its potential impact.

 

Risk management is an important process because it provides enterprises with the necessary tools to enable them to fully identify and respond to potential risks. Once the risk is identified, it can be easily mitigated. In addition, risk management provides companies with a basis for rational decision-making.

 

For companies, risk assessment and management is the best way to prepare for possible progress and growth. When a company evaluates its plans to deal with potential threats and then develops a structure to deal with these threats, it will increase its chances of becoming a successful entity.

 

In addition, progressive risk management ensures that high-priority risks are handled as aggressively as possible. In addition, management will obtain the necessary information that they can use to make informed decisions and ensure that the business remains profitable.

Elements

 

Features of risk management process

 

Issues

 

Interrelationship: Interrelationships between the main components of the risk management plan

 

 

2. Why company need to launch a formal, extensive, integrated and comprehensive risk management programme（External risk, internal risk: finance + operation + reputation）

The Problem (risk identification): what risks the manufacturing company may face in the hypothetical scenario (the risks of the actual manufacturing company can be written in)

increasing risky, dynamic and ever-changing business environment. What are the industry risks?

 

Risk assessment (matrix)

 

Manufacturing companies generally have R&D, procurement, production, quality inspection, sales, safety and environmental protection, human resources, finance, and comprehensive administration departments. Each business department has its own management system, which constitutes the daily operation of the manufacturing company.

 

 

What impact the risk may have on the company

3. How risk management can help company

business sustainability

 

business continuity

 

crisis management

 

 

4. How to implement the risk management programme in the company

Let executives realize the importance of risk management

Internal training

Make a specific plan

 

 

5.可行性 cost benefit

 

 

5. RECOMMENDATION