Assignment Task
Topic
The topic for the coursework assignment is risk management in the organisation and risk management methods to deal with corporate risk.
Assignment Questions
Risk is inevitable in any business. Risk analysis helps an organisation to evaluate risks and take actions to handle risks. In simple terms, risk involves uncertainty that has the potential to harm an organisation’s ability to achieve its corporate objectives. Corporate risk management has long been regarded as a strategic necessity to help organisations to achieve their corporate objectives.Although there is no simple solution on how to treat risk, there is a general consensus that managing risk can enhance an organisation’s financial stability and increase its cash flow. Risk can change over time in terms of frequency and severity. In addition, risk has evolved over the years as evidenced by the dynamic nature of risk. The complexity of internal and external risk factors has posed a massive challenge to organisations on how to integrate a risk management framework in their business structure to allow them to analyse risk.In this assignment you are asked to view risk broadly. You are required to identify and analyse potential risks facing an organisation and discuss what methods you will take to respond to each identified risk. Further you will discuss the use of captive insurance for a large organisation.
Part
1. Choose a company identified in the table below and prepare a risk assessment of that company setting out the three key risks associated with the company and the effective methods available to a risk manager to mitigate and manage these risks.
2. Critically evaluate whether captive insurance is more appropriate than other financial risk control methods to handle risk for a large organisation.
