Implementing Risk Management Plan

This document discusses the implementation of a risk management plan for Apple Company. It covers stakeholder analysis, risk context analysis, treatment actions for prioritized risks, and monitoring processes. The document also evaluates the risk management plan in terms of risk treatment. Additionally, it includes a case study on conducting a risk assessment in college engineering departments.

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Running head: BUSINESS MANAGEMENT
Implementing Risk Management Plan
Name
Institution
Author’s Note

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RISK MANAGEMENT PLAN FOR APPLE COMPANY
Introduction
Apple Company is one of the major companies that are recognised universally due to the
quality services and product that they have been able to offer their customers. Moreover, Apple
is an organisation that has actively invested in the manufacture of quality products that are
unique from the rest of the products that are found within the market platform. At the same time,
what is always exciting about Apple products is that they are still genuine and designed to serve
the customers for more extended periods without developing any complications (Chamberlain,
Rhinehart, Shaefer & Neuman, 2016). Despite this level of an excellent reputation built by
Apple, it is still facing quite some risks that tend to pull back most of the operations that are
associated with the organisation. Due to this, it is of much importance for the top management
officials of the organisation to appropriately implement an appropriate risk management plan that
will enable them to eradicate the emergence of these adverse outcomes.
Risk Management plan
Stakeholder analysis
To overcome quite some risks during various operations within an organisation, there is
the need to appropriately choose the stakeholders who will ensure that most of the goals that are
attached to the organisation are met within a short period. Apple being a reputable organisation,
one of its major stakeholders is the employees. The employees play a crucial role in ensuring that
the organisation moves in the right direction. At the same time, they act as the internal

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stakeholders for the organisation where they are in charge of quite some activities within the
boundaries of the organisation. Moreover, the customers who are known to be situated in various
parts of the world are also another category of stakeholders within Apple Company (McCarron et
al ., 2016). They are generally termed as the recipients of various goods and services that are
attached to the entire Apple Company. To ensure that there is an appropriate eradication of
multiple risks that are associated with performance, the top management team of Apple
Company should be able to give the stakeholders a priority for them to carry out their respective
duties within the organisation.
Analysis of the Risk Context
For Apple to overcome quite some risks in their operation paths, there is the need to
come on board and be able to analyse the entire risk context. This will ensure that there is an
adequate understanding of the type of risks the organisation is encountering. Aforementioned,
Apple is facing some quite some threats that have led to various goals not being achieved within
the stipulated time frame (Hartmann & Spit, 2016). One negative thing about the dangers is that
they have the capability of affecting the entire organisation both at the local, regional and even
international levels. At times, these risks may go as far as tarnishing the organisation's reputation
thus scaling down their performances in various market platforms. The top management team
has not yet taken a keen interest in how all these emerging risks can always be controlled to
obtain adequate operation strategies.
Implementation of critical success factors
To overcome quite some risks, the entire Apple organisation should be able to adequately
implement various strategies that are related to essential elements of success. Firstly, for the

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organisation to be able to compete appropriately within the market, it should be able to reduce
the costs of all its manufactured products through an adequate improvement of design and even
efficiency. Moreover, Apple also needs to implement issues associated with reliability where it
requires a reliable model that is more resilient in the eyes of the customers. Additionally, to
adequately perform critical success, there is a need to focus much on relationship building. The
company needs to come up with extensive industry contact together with a positive relationship
with all the customers irrespective of their areas of residence thus being able to achieve some of
the documented sales targets.
Identification and analysis of the risks
Certain risks have been pointed out to have the capability of hindering Apple Company
from attaining most of its future goals within the international market platform. One of the
significant risks is technology risk that is likely to emerge as a result of technical failures in quite
some products. Additionally, there is a risk associated with human behaviour. It is a risk that is
known to be taking place at the internal level of the, and on most occasions, it is always
associated with the behaviour of employees. Additionally, there is the risk of economic
circumstances that usually emerges as a result of quite some issues related to the financial status
of a given area (Sine, David & Mitsuhashi, 2016). It is a risk that can hinder a given organisation
from adequately performing to attain a positive outcome that aims towards bringing change.
Treatment actions for the prioritised risks
Various treatment actions should be taken into consideration to ensure that all the prioritised
risks are appropriately handled without any barrier being encountered. One of the first actions
that are required is to make sure that both the employees and customers are well updated about

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the nature of the risk. Moreover, they should then be highlighted on how various processes are
going to be implemented to address the threat positively. During the treatment processes for the
prioritised risks, the top management team should be the ones to take responsibility for every
activity taking place in the entire process. All the actions to be made will, therefore, be
conducted within one month to ensure that the risks are adequately addressed within the shortest
period possible (Amuna, Al Shobaki & Naser, 2017).
Monitoring Processes
Quite some monitoring processes will be done to ensure that some positive outcomes are
appropriately attained at an early stage. The first monitoring process is to identify the risks to
determine its conditions adequately. Additionally, there is a need to carry out an analysis of the
risks to obtain accurate and reliable information. After doing an investigation, an evaluation
should be taken to ensure that the risks are ranked according to various levels. After that, there
will be the need to treat the risks through the implementation of multiple strategies to ensure that
it doesn't occur any time soon even in the coming future.
Evaluation of risk management plan in terms of Risk treatment
In all the risks above that tend to pose a lot of threat to Apple Company, the risk of
economic circumstances is known to have one of the highest probabilities of taking place within
the organisation (Altamony, Al-Salti, Gharaibeh & Elyas, 2016). It is a risk that is full of quite
some impacts with the major one being the fluctuation in the price of goods and services at the
international market platform as a result of the uncertain economic status of quite some
countries. This, therefore, hinders the organisation from attaining various goals within the sales
sector. Both technology risks and employee behaviours are risks that are likely to occur within

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the organisation as a result of different circumstances. One of the most significant risks is the
technology risk; therefore it should be keenly observed to avoid the occurrence of any adverse
outcome. The priority for the treatment of this risk is to make sure that all goods and services
that are of modern technology should be appropriately manufactured to ensure that they don't
operate under any errors.
Required forms for implementation
 Refining the implementation plan- All the assessments together with planning that the
entire implementation team was able to conduct at an early stage will be able to provide
the basis for perfectly addressing quite a number of issues thus being able to manage the
entire change process in a successful manner.
 Getting started- The entire implementation team work should be able to work with the
relevant unit champions in order to ensure that the entire implementation process is
adequately started and even going as far as coordinating the entire process.
 Involving the employees and employers of the organization- They should be fully
involved for them to know what is taking place.
 Monitoring the implementation progress- This should be done in order to evaluate any
problem that is likely to emerge at an early stage thus providing a humble opportunity for
coming up with the recommendations.
 Sustaining management supports- The entire implementation team should work on
engaging senior leaders together with the middle managers with the aim of sustaining
their early support for the entire improvement effort.

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Assessment 2
Conducting a risk assessment in college engineering departments
A thorough analysis and evaluation were carried out in quite some college business
departments; this aimed towards assessing the likelihood of various risks that might hinder their
performance under different circumstances.
People involved in the assessment
The top trained personnel of various risk management firms were the people who were
involved in the entire assessment process where they were able to analyse every parameter
without making any assumptions adequately. Moreover, they ensured that the assessment process
as a whole was carried out with a lot of ethical considerations to avoid the emergence of any
controversies.
Process is undertaken
Various methods were conducted in the risk assessment to ensure that appropriate
information was brought into consideration. The first process was the identification of the
hazards; this was to evaluate some of the health and safety risks that the workers might be facing.
Additionally, appropriate decisions were made on individuals with a high probability of getting
harmed. Additionally, all the risks were assessed correctly to enable proper actions to be taken.
The final process was to make appropriate documentation of all the findings that were gathered.
Issues encountered

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The only problem that was faced was the lack of appropriate information to be used
during the analysis process. Fortunately, to deal with this issue, there was the need to put much
focus on the past chronological events that have been seen and experienced over the past.
Finding obtained from the assessment
The assessment finally came up with a finding that the college engineering departments
are known to be exposing a large number of workers to health-related risks that arise from the
dust particles being exposed from various activities taking place within the departments.

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References
Amuna, Y. M. A., Al Shobaki, M. J., & Naser, S. S. A. (2017). Strategic Environmental
Scanning: an Approach for Crises Management. International Journal of Information
Technology and Electrical Engineering, 6(3), 28-34.
Altamony, H., Al-Salti, Z., Gharaibeh, A., & Elyas, T. (2016). The relationship between change
management strategy and successful enterprise resource planning (ERP)
implementations: A theoretical perspective. International Journal of Business
Management and Economic Research, 7(4), 690-703.
Chamberlain, J. J., Rhinehart, A. S., Shaefer, C. F., & Neuman, A. (2016). Diagnosis and
management of diabetes: synopsis of the 2016 American Diabetes Association Standards
of Medical Care in Diabetes. Annals of internal medicine, 164(8), 542-552.
Hartmann, T., & Spit, T. (2016). Legitimizing differentiated flood protection levels–
Consequences of the European flood risk management plan. Environmental Science &
Policy, 55, 361-367.
McCarron, D. A., Oparil, S., Chait, A., Haynes, R. B., Kris-Etherton, P., Stern, J. S., ... & Metz,
J. A. (2016). Nutritional management of cardiovascular risk factors: a randomized
clinical trial. Archives of Internal Medicine, 157(2), 169-177.

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Sine, W. D., David, R. J., & Mitsuhashi, H. (2016). From plan to plant: Effects of certification on
operational start-up in the emergent independent power sector. Organization Science,
18(4), 578-594.