Risk management is about identifying and solving the most common issues and threats to the capital and earnings of an organization. In other words, it aims to deal with inevitable business risks at a lower cost.
A risk management essay might consider the most common sources of risks, like financial uncertainties, management errors, natural disasters, etc. One can also look at risk management strategies for various industries. A step further would be to compare these strategies and their possible outcomes. Another exciting topic is managing risks for innovation projects.
Down below, you will find the list of risk management essay examples. These papers will boost your creative thinking and inspire you.
Introduction Many organizations across the world have invested in various innovation activities to meet the current trends. However, various risks are associated with different innovation activities. As a result, the companies have adopted risk management techniques to minimize or prevent the impact that can affect the business negatively. Therefore, risk...
Purpose Statement A risk management program is one of the practices that can significantly enhance the functioning of a medical facility, helping it to advance its strategic safety and quality goals. Best practices of risk management programs assist in preventing problems with patient records and administrative systems, thus, preventing deteriorations...
Abstract In supply chain management, most suppliers exist to utilize the global unit for supply chain risk management found in warehouse and retailer operators. The suppliers are located worldwide, and for Walmart, they are from the US, they make purchases for merchandise items and sold locally from the warehouse, online...
Introduction Financial jeopardy is the probability of losing cash on speculation or undertaking. The financial danger is a type of risk that can cause cash deficiency to investors. This can signify that governments are unable to take care of money problems and evasion on securities or added obligation issues. Organizations...
In this sophisticated and highly technological era in which we live, supply chains play a crucial role in the ability of a company to acquire goods or to sell and deliver their products to their customers. A supply chain is defined as “a network between a company and its suppliers...
A policy or procedure is a set of rules that guide nurses in their work, and failure to follow them may put the institution and the patient at risk. The policies also help organizations to achieve their objectives. The main goal of these guidelines is to identify possible problems before...
Risk Assessment Background There is no doubt about the fact that cyber threats became one of the key challenges for OPM throughout the past several decades. The key problem with the company’s cybersecurity system is that it does not feature a specific risk governance structure that could be utilized to...
Introduction The hospitalized patients and the healthcare personnel face several risks in their day-to-day activities. Thus, risk management in healthcare is a complex issue that requires various players, including administrators, nurses, physicians, and patients, to assess, detect and prevent risks in patients. This issue involves a series of steps to...
Amazon Executive Summary Amazon’s History and Background Amazon is the largest online marketplace in the world, known for its disruption of the retail industry through technology. Based in Seattle, the United States, the company operates physical and online stores internationally, selling products and content obtained from third-party sellers. Jeffery Bezos...
The aim of this assignment is to conduct a risk assessment of the working environment for a cleaning company. As workers in the cleaning industry operate in different environments, which constantly change, there are a variety of factors, which should be considered. Over the course of studying the hazards, three...
Introduction Risks to health providers, patients, family members, and the community are common in the healthcare system. Therefore, developing a risk management plan is essential and critical for the protection and safety of the people involved in the health care system. The analysis plays a significant role, thus becoming indispensable...
Major online retailers, such as Amazon and Walmart, have recently started leaving customers with purchases they would like to return to the store – and simply refunding them without asking for the item back, the Wall Street Journal reported (Kapner & Ziobro, 2021). When trading online, the cost of returning...
Introduction Exposure is a defined as a measure of the change in the value of a financial item such as a liability, asset or cash flow, to changes in the relevant risk factors. On the other hand risk is defined as a measure of variations in the item’s value in...
Definition of the Problem Introduction Risk management (RM) has been defined as the process of “planning, organizing, leading, and controlling the activities of the organization in order to minimize the adverse effects of accidental losses on that organization at reasonable cost. Risk avoidance involves eliminating all losses associated with a...
Abstract Credit risk is a common banking risk. Banks always strive to avoid this risk by adopting sound credit management policies. There are numerous examples showing the impact that poor credit risk management has on banks. Indeed, many banks, have been rendered bankrupt, liquidated and at best, lost their credibility...
Introduction Generally, the term fraud is used to denote any deliberate act or omission intended to deceive others. Such an act or omission enables the perpetrator to achieve a particular gain, while the victim suffers a loss (Singleton & Singleton, 2011). The concept of fraud is, therefore, an expansive legal...
Introduction Quanta Services Inc is one of the leading infrastructural contracting companies in the United States. This company offers a wide range of services which include design, installation, repair, and maintenance of any type of infrastructure. The firm is widely known for its solution to natural gas, pipeline industries, and...
Timothy’s Fine Tobaccos is a tobacco business that has been in operation since 2003. This business was started by Tim Socier as a part-time activity to provide humidors in restaurants, golf courses, party stores and other local establishments. Socier is the sole proprietor of this business and, therefore, controls all...
Introduction Each business or investment strategy in today’s economic environment is exposed to a certain risk. Risk is attributed to a high level of uncertainty about future market trends. This leaves no room for speculation. Business analysts explain that the higher the amount of risk, the higher the expected returns....
Introduction Risk is a four-letter word used in businesses, governments and investments; political leaders and entrepreneurs comprehend that if no action is taken, there will be no gain, and thus risk cannot be eliminated. Nevertheless, many companies are putting more effort to reduce and manage risk, thus it has become...
Business risk management and insurance subject matter The concept of business risk management is closely interrelated to the management of an insurance company. In the view of the author, Hubbard, business risk management and insurance related concepts are closely interlinked and therefore demand proper planning and effective allocation of organizational...
Introduction to Hedging in Relation to Telvent Company Various scholars have described hedging differently. The different interpretations of the term depend on the scholar’s academic and professional orientations. However, many of these scholars agree that hedging is an investment technique that intends to offset potential losses or gains incurred by...
The world is advancing financially leading to an increased risk of occurrence of economic crisis. In the past, financial risk had caused devastating economic situations after becoming a reality. However, using past experiences, humankind has put in place policies to reduce the possibilities of those risks reoccurring. Nonetheless, investors have...
Introduction This report covers a comprehensive analysis of Telecity Group plc, which includes the overall analysis of the structure and operations of the Group, its market standing, financial performance, strategic plans and how it manages its exchange rate and country and political risk. At the end of this report, recommendations...
Introduction The business environment is always susceptible to various types of disturbances that might hinder the normal functioning of firms. It is therefore important for any firm to be prepared at all times to curb any risks, but most importantly firms should put in place measures to curb any impending...
Introduction Civil engineering projects are exposed to risks that can be potentially damaging due to the cost of investments incurred in such projects. That is the case especially if factors such as the regulatory constraints, environmental factors, stakeholder attitude, and the costs of investment in such projects are influenced by...
Introduction Supply chain management (SCM) aims at optimizing the cost of goods and the time it takes to deliver products to the end customer. According to Russel and Taylor (2019), competing in a global marketplace requires the combined and coordinated effort of all members of the supply chain through close...
Introduction Cinemark Holdings, Inc. is one of the largest movie theater chains in the United States and Latin America. It holds one of the highest shares of the theatrical exhibition market, along with AMC Theatres (Hallinan & Reynolds, 2019). The main branch of Cinemark includes 534 theatres with a total...
The prior CEO and leadership at JM&P Health Communications created a workplace environment that negatively impacted employees at all levels in the organization. Directions Analyze the situation and provide a response for the questions below. Analyzing the situation In this section, gather as much information as you can and highlight...
Abstract Global businesses operate in a highly uncertain environment that is constantly changing. As 2020 so far presented, various events ranging from a pandemic and a major economic recession to social unrests and environmental catastrophes can impact areas where businesses operate. Furthermore, the future is unpredictable with economies, technologies, and...
Introduction An important task of a nurse practitioner is to identify the possible risks in the specific area of profession. Such risks can be related to both medical specialists and patients, and therefore, require integrated measures to eliminate them. Many local and state organizations are concerned with the rules and...
The Meaning of Risk to Organization Nowadays, many companies operate in the constantly changing business environment where different risks determine the level of uncertainty. Consequently, many organizations tend to face various risks such as safety, liquidity, operational, financial, and credit ones (Kaplan and Mikes 1). One of the most critical...
Introduction Energy industry management practices and principles are often closely associated with the in-depth analysis of the business environment of the sphere, and the business research. Considering the particularities of the energy industry project management, there is strong necessity to mention that all the researches will be associated not only...
Retail management aims at promoting sales and ensuring customer satisfaction. It encompasses various tasks and requires a qualitative and effective managerial activity as a critical factor of a retailer’s success. Procedures like storing and monitoring inventory, counting items, and forecasting demand can improve a company’s capacity to make sales. According...
The insurance market is increasingly becoming competitive not only on national levels, but also from a global perspective. More companies are joining and then leaving the industry every year. The quality, cost, and customer expectations are the key features that need to be considered before rolling out a product into...
Introduction In the current world fire outbreaks are frequent and do affect humanity adversely. These outbreaks kill, destroy property and injure people. Because of these effects, legislative requirements have been triggered supporting various mitigation measures. The measures on the other hand, are supposed to be occupational health and safety acts...
Risk Reduction and ALARP Generally before doing any project one should measure different aspects to reduce the risk factors associated with the tour. In this project about Mount Kilimanjaro, we have to decide what are the risks associated with the project. Generally, the checklists are very qualitative in nature; they...
Introduction The rationale behind risk management in airports is a multifaceted question with a broad scope that necessitates a holistic approach to the notion. Since an effective risk management process involves identifying potential risks and attempting to tackle them, the concept is significant in the aviation sector where risks usually...
Introduction There are numerous external forces that affect the airline industry. As a result, the industry is compelled to continuously change its ways of doing things. The industries is not only vulnerable to bankruptcy, terrorism, amalgamation and acquisition but is also adversely affected by political instability in the various countries...
Introduction Many organizations all over the world share a common objective of profit maximization. Since the future is normally uncertain of what may come forth, these firms take an initiative of insuring their business incase of risk emergence. There are many emerging risks that any organization may encounter as it...
Introduction The tragedy of space shuttle Columbia occurred on February 1, 2003 following the disintegration of the space shuttle Columbia over Texas when it was entering into the earth’s atmosphere (Barling, Louglin & Kelloway 2002). The disaster lead the death of a seven crew member just when it was about...
Introduction Planning refers to arrangements made in advance to cater for some future event. Risk management planning therefore, is an outline prepared by project managers to foretell risks, to estimate their likelihood of occurring and to find ways of counteracting them when and if they do occur. A risk is...
Risk management all over the world has been considered the most beneficial aspect of combating uncertainty in the organizations. Therefore, it has bee proven that if the pursuant of the project risk management is able to pin point the uncertainty in the project then more resources can be allocated to...
Introduction In the United States of America (USA), firms having stock prices that are so much sensitive to the changes in the international prices of oil and gas tend to adopt open positions in their goods derivatives as well as to expose the unique values at risk (VAR). Such stock...
Introduction There are a number of drivers to setting Criticality Criteria and they include International Legislation and Guidelines, National Legislation, Regulators Guidelines, Industry Guidelines and Company Requirements. The idea and identification of Safety-Critical Elements that incorporates both equipment and systems is the foundation of engineering verification (Woods, 2009, p.69). A...
Introduction Proper risk management in gas station operations is vital to the needs of the business, and structuring a proper insurance coverage package is a necessary step in the process. Operating a gas station without adequate insurance coverage is an invitation to disaster; not only would management face the possibility...
Introduction Risk management is an important activity to the private and public sectors. This is because risks occur as calamities in the public sector and in business sector they can cause imaginable losses. Just imagination losses caused by bad investment decision by a company management or the immense destruction caused...
Outline Risk analysis is involved in identifying threats that are likely to occur and analyzing the likely outcome. High risk investments bring about high returns and low risk projects have low returns. Cost benefit analysis ensures that the costs involved in projects bring about returns that are more than the...
Enterprise Wide Risk Management also known as organizational wide risk management is a strategic process that assists firms and companies to identify, measure and control the overall business risks and seize opportunities that a business organization may come across in its trading activities in order to achieve its objectives. This...
Executive Summary The growing dependence on sophisticated technology and systems in every walk of life has increased the incidence of risk on various commercial and public utility activities. This has necessitated the development of various analytical tools and techniques to assess the potential impact of such risk in creating losses...
Introduction Financial risk management can be considered as the practice of creation of economic value in companies safeguarding the company against risks like foreign exchange, interest rate fluctuations, credit and liquidity, and inflation risks. The objective of traditional risk management is to enable the firms to protect their physical assets...
Introduction Business is a complicated process in which there is a whole net of relations and processes involved. Risk is one of the integral parts of business as a business entity can never be sure about its business partner fulfilling all its obligations according to the agreement they conclude. For...
Introduction The financial industry, because of its nature, is susceptible to risk, and has been marked by it over the last twenty years. As a consequence, the financial industry has employed risk management techniques on a global basis, across business functions, lines and the different kinds of risks. This is...
Introduction The report is going to focus on a strategic review of Benenden hospital, which is one of the most popular medical centers in UK. Before going through the organizational context in relation with core issue of sourcing, at first it is essential to have an initial overview of the...
Introduction In any economy the market participants look for the services of the banks and other financial institution since they have the ability to provide a detailed knowledge about the market, transaction efficiency, and enforcement of different contractual arrangements. In view of the nature of products being dealt with by...
Introduction This paper will study risk management in construction industry in detail. Before anything else is discussed, we need to understand what exactly risk is. Therefore the meaning of the term ‘risk’ will be identified. Once risk is defined and understood in the paper, we will move on to understanding...
Introduction In this paper we are doing a research on the topic ‘risk management in organization’. Risk management as a subject and as a function of business management is relatively new concept. Therefore the purpose of this paper is to explore some of the basic concepts of risk. In this...
Risk is often a requirement for an organization to meet its operational goals. Risk may bring innovation, partnerships, and monetary gains to a company. However, an excessive level of risk may have highly negative consequences varying from operational issues to the full bankruptcy of the organization. To properly calculate the...
Introduction In the case of GU, the current problem that the project is facing is system failure due to unknown software that the system users, namely, students and instructors, have uploaded in their computers. Without a solution to the current problem, the system at GU may not achieve its expected...
Introduction All organizations are open systems and are hence influenced by many external factors. With increasing globalization and the resulting competition, the effects of risk on the organization are tremendous. Risks can be operational or financial or both. Operational risks involve both production and marketing risks. Most organizations now have...
Executive Summary Arachem (M) Sdn Bhd’s top management has identified their inventory systems as the weak link in their operations. The current system has affected the company’s growth and overall efficiency and the management has been specifically observing several complaints from customers about goods damaged in storage and transit. The...
Introduction Globalization and competition increased the risk in many enterprises worldwide at a faster pace. A great number of organizations invest heavily in risk management to be able to face the ambiguities and challenges in the business world. The Institute of Internal Auditors (IIA) Glossary defines risk as: “the uncertainty...
Introduction Risk management has a critical role that all organizations must take seriously to ensure that their operations remain sustainable. Chapman defines risk management as “the practice of identifying potential risks in advance, analyzing them, and taking precautionary steps to curb the risk factor” (34). It is a proactive approach...
Introduction Any risk management project demands an evaluation of the implemented strategies and analysis of the impact these interventions had on the project. Moreover, in addition to the planned risk management interventions, some mitigation activities can be necessary. Also, after the threats have occurred and the opportunities have been realized,...
In addition to internal risks, organizations have to face various external risks such as economic or natural (Hopkin 139). Economic risks can be associated with financial constraints affecting industries, states, or countries. The emergence of such threats can lead to decreased revenues, a high rate of turnover, and an inability...
The major goal of the paper at hand is to compose a risk management plan based on the facts presented in the case study, which is devoted to the security breach of customer data experienced by Flayton Electronics. The study will identify the size of the project (relying on the...
Project Charter Background This project aims at producing a new device used in certain medical products and its effective marketing. The project is expected to help the organization to diversify its product range, enter new markets, and increase profits. Medical products have been in high demand in the USA, and...
Introduction Managers in different companies choose to focus on enterprise risk management (ERM) to predict and address possible risks that may be associated with companies’ operations and activities. ERM can cover a range of risks potentially faced by organizations (McShane, Nair, and Rustambekov 642). In addition to managing risks associated...
Introduction Government agencies achieve their aims by implementing appropriate projects and supporting them to ensure that they are successful. The emergence of risks might affect the effectiveness of such organizations. This challenge explains why many government entities put in place powerful risk management strategies to achieve their projects’ goals. Three...
Introduction Risk management refers to any activity that involves the evaluation or comparison of risks and development of approaches that change the probability or the consequences of a harmful action. Risk management comprises the entire process of identification and evaluation of risks as well as the identification, selection and identification...
Introduction The case study A Culture of Risk Beyond Petroleum discusses the factors that can harm the company’s reputation and image, even if the company is one of the world’s leading organizations. After the explosion in one of British Petroleum refineries in Texas in 2005, the company has suffered significant...
Introduction Corporate risk management is an exercise in coordinating risk acknowledgment, risk appraisal, risk management systems, and the moderation of administrative assets. This paper describes various steps of risk management decisions. As events such as the financial crisis have fundamentally changed conditions, the times of focusing on operational and strategic...
Introduction Risk register is a significant constituent of the risk management framework on the whole. In fact, risk register allows defining possible risks that can be potentially dangerous for the project. Thus, it provides opportunities for risks prevention because project developers will be able to prevent the possible risks or...
Introduction Risk management is one of the most important activities in any information technology project. It’s a process that involves the assessment of various sources of danger in a planned undertaking (Chapman & Ward, 2007). Besides, the process also evaluates the possibility of incurring a loss or experiencing a misfortune...
Introduction Constructing a railway is a complex process that requires not only careful planning and the involvement of skilled professionals but also the development of a risk mitigation strategy based on the appropriate identification of risks. In the context of constructing a new railway between two destinations, beneficial practices should...
Abstract Projects have become a common phenomenon in the operation of organizations. This assertion is evidenced by the high rate at which organizations are adopting project approach in an effort to achieve the desired organizational goals. However, the success with which projects are completed is dependent on the effectiveness with...
Introduction Risk managers in finance define risk as “the uncertainty that has adverse consequences on earnings or wealth, or the uncertainty associated with negative outcomes only” (Bessis 2). This view of risk is also shared by regulators who are interested in maximizing the resiliency of financial organizations under stressed conditions...
Introduction The various global financial downturns experienced in the past have underlined the relevance of engaging in effective risk management to enhance the sustainability of different industries. The banking sector is one of the industries faced with numerous risks that could undermine the performance of the financial institutions considerably. As...
Introduction Companies are trying to develop competitive advantages to become leaders or remain in the market. Information security management (ISM) is one of the areas that can help businesses achieve this goal. Such aspects as contingency planning, security awareness and policies, risk management, and assessment, as well as security staffing,...
Scope and Study Background Walkers Shortbread is a company located in Scotland. Established in the year 1898, the company has been successful in sourcing for wheat as its primary raw material from neighboring countries such as Greece. The company’s supply chain management has been stable in mapping, executing, and managing...
Introduction The market often poses several challenges that a firm must know how to deal with to remain competitive in the market. Enterprise risk management has become a critical part of management as firms struggle to find ways of managing the challenges they face in their normal operations (Marchetti 2012)....
Introduction One of the key indicators of the efficiency of corporate governance is a consistent risk management strategy. The key function of corporate governance resides in ensuring accountability, transparency, and credibility; in other words, it is supposed to include all the elements that are comprised in a high-level performance (Global...
Introduction Security risk management refers to the totality of all processes involved in identifying, assessing, and prioritizing risks accompanied by the coordination and mobilization of resources that help to reduce, oversee, and control the likelihood or consequence of the threat. The aspect of risk management is applicable in all fields,...
Introduction Risk management appears to be one of the most essential parts of project management. Project managers are supposed to be able to work out a risk management plan and assess its effectiveness and efficiency. Therefore, this paper aims to consider the process of elaborating a risk management plan and...
Background information Foster’s Group is a private limited multinational company that operates within the Australian beverage industry. The firm engages in the production, marketing and distribution of alcoholic beverage products. Since its inception, the firm is committed to maximizing its profitability by marketing its premium branded products within the global...
Introduction Effective risk management is an integral aspect that contributes immensely in enhancing performance in diverse institutions. It entails a systematic management process that institutions use to protect themselves and their stakeholders from the effects of events that present extreme consequences. As well, it defines the efficiency and effectiveness with...
