Assignment on Innovation and Risk Management

Added on - 21 Apr 2020

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Running head: INNOVATION AND RISK MANAGEMENTInnovation and Risk ManagementName of the Student:Name of the University:Author Note:
1INNOVATION AND RISK MANAGEMENTExecutive Summary:The report gives an overview of innovation and risk management in the light of Pinwheel RiskManagement Action Framework of an energy company. The company discussed in this report isBritish Gas. The report provides a brief introduction of the company and discusses about theprocess of innovation adopted by the company. The report also has a section where explanationis provided on the application of Pinwheel Action Framework in the decision making process forinnovation of British Gas.
2INNOVATION AND RISK MANAGEMENTTable of ContentsIntroduction:....................................................................................................................................3About the Company.........................................................................................................................3British Gas and Innovation..............................................................................................................4Application of Pinwheel Action Framework In the Process of Innovation of British Gas.............6Conclusion.....................................................................................................................................10References:....................................................................................................................................11
3INNOVATION AND RISK MANAGEMENTIntroduction:The report is a discussion on innovation and risk management in the context of thePinwheel Risk Management Action Framework of an energy company. The energy companychosen here is British Gas that is one of the leading energy and home service provider in UnitedKingdom (UK). The report however gives a brief introduction about the company. There is alsodiscussion on the process of innovation adopted by the company. While discussing about thecompany, one can find that the company focuses mainly on the implementing innovativetechniques that in way is beneficial for its customers at large. There is also a section in the reportwhere there is discussion about how the decision of British gas for the process of innovationaligned with the Pinwheel Action framework. The report however ends with a conclusion thatmentions the good practices of the pinwheel framework.About the CompanyThe company chosen here is British Gas that is a home service and energy provider inUnited Kingdom. The trading name of the company is British Gas Services Limited and BritishGas New Heating Limited, both of which are subsidiaries of Centric (Britishgas.co.uk 2017).However, the company is one of the biggest energy suppliers that are serving close to twelvemillion houses in UK. The company however dominates the electricity and gas market in the UKand is believed making a difference. British gas however makes a difference throughempowering communities for using energy in an efficient manner, supporting the needs of thehouseholds and builds necessary skills for future service (Britishgas.co.uk 2017). The companyconsiders its employees as it assets who play a role in driving the company forward. However,the company has a set of standard that determines the ethical viability of their activities. Further,British Gas also initiates a procedure of fuel mixing for generation of electricity. Thus, the
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