Risk management

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Risk management is one of the most important components in empowering an organization to achieve its ultimate vision. With proper risk management culture and knowledge, team members will be “speaking” the same language, and they will leverage common analytical abilities to identify and mitigate potential risks as well as exploit opportunities in a timely fashion. In order to consolidate efforts, the existence of an integrated framework is crucial. This is why an ERM is necessary to the fulfillment of any organization’s goals and objectives.

In your final research project for the course, your task is to write a 7-10 page paper discussing the following concepts:

Introduction
Why should an organization Implement an ERM application?
What are some key challenges and solutions to Implementing an ERM?
What is Important for an effective ERM?
Discuss at least one real organization that has been effective with implementing an ERM framework or /application.
Conclusion, final thoughts for future research
Recommendation

 

 

Sample Solution

Risk management

Enterprise Risk Management [E.R.M] is a plan-based business strategy that aims to identify, assess, and prepare for any dangers, hazards, and other potentials for disaster, both physical and figurative, that may interfere with an organization’s operations and objectives. Organizations should implement E.R.M because it will produce many benefits to the organization if implemented successfully. An effective E.R.M Framework will allow an organization to gain a clear picture of its overall exposure to risk, and improve firm-wide understanding of risks and controls. E.R..M has its challenges. In an economy driven by positive return on investment, organizations often struggle to demonstrate sufficient E.R.M value to justify implementation costs. As an alternative to the business case, management may implement E.R.M on a pilot basis, which typically involves a prominent business unit with large financial risk and a business unit with higher non-financial exposures such as strategic, reputation or operational risk.

aughs, and Yoko finishes her day sad and down. But Mrs. Jenkins has a plan and decides to host an International Food Day. She asks all the students to be open-minded and try everything. Yoko’s mother made sushi for everyone in the class. Everything was eaten but her sushi. But then Timothy, a raccoon, tries Yoko’s sushi and Yoko shows him how to use the chopsticks to eat it. By the end of the book they are fast best friends planning to open their own lunch restaurant serving up tomato sandwiches and dragon rolls.

Visiting Day Picture Book/Poems
Woodson, J., & Ransome, J. (2015). Visiting Day. New York: Puffin Books.
With her grandma’s love and guidance, a young girl and her grandmother prepare for a very special day of the month – the one day they go to visit the girl’s dad in prison. “Only on visiting day is there chicken frying in the kitchen at 6 a.m, and Grandma in her Sunday dress, humming soft and low.” A neighbor brings presents for Daddy, and grandma and the girl share their food with strangers on the bus on the way. While the little girl and grandmother get ready to visit her father, who adores her, he is also getting ready too. The young girl is very excited to see her father and the girl imagines what preparations her father might be making for the day she goes to see him; she imagines him crossing off days on a calendar next to artwork by her with red hearts. Told from the nonjudgmental perspective of the young girl, there is no mention of why Daddy is incarcerated or what he did, the book focuses only on how much Daddy loves her and their relationship. The young girl and Grandma share a feeling of hope and family, from frying chicken in the morning to the bus ride to sitting down to draw more pictures for Daddy when she gets home.

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