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Corporate Governance & Risk Assessment | Assignment

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Added on  2020-02-19

Corporate Governance & Risk Assessment | Assignment

   Added on 2020-02-19

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Running head: CORPORATE GOVERNANCE AND RISK ASSESSMENTCORPORATE GOVERNANCE AND RISK ASSESSMENTName of the StudentName of the UniversityAuthor Note
Corporate Governance & Risk Assessment | Assignment_1
1CORPORATE GOVERNANCE AND RISK ASSESSMENTThe concept of governance entails the processes and the structures, which are designed toensure the transparency, accountability, stability, responsiveness, rule of law, equity andempowerment, inclusiveness and the broad based participation. The concept of governance isdifferent to different people. Hence, my focus is to bring out the actual and right meaning of theterm. Again, the term risk assessment refers to the process of looking thoroughly into theworkplace and identifying the things, processes and situations that can cause harm to the people.The risk assessment also includes the management or the assessment of the identified risk withthe proper measurement.In the first section, I will discuss my proper understanding of the term ‘governance’. Theterm governance represents the values, rules and the norms of the plan through which the publicaffairs are controlled and managed in a transparent, inclusive, participatory and the responsivemanner (Gisselquist 2012). Therefore, the concept of governance is subtle, complex, and notobservable. In the broader sense, the governance refers to the institutional and the culturalenvironment in which the people and the stakeholders interact with each other in the form ofparticipating in the public affairs. However, in the essay I will discuss the concept andunderstanding of the corporate governance. The corporate governance signifies the method ofgoverning the organization as a sovereign state, implementing the company’s policies, laws andcustoms to the employees in every level (Tricker and Tricker 2015). The corporate governanceintents the increase of the accountability of the organization in order to avoid occurrence of anydisasters in the organization. In other way, the corporate governance denotes the framework ofthe practices and the rules with the help of which the board of directors of the organizationensure the transparent and fair relationship with the employees and the stakeholders (Jo andHarjoto 2012). The corporate governance of the company is the fundamental and vital process of
Corporate Governance & Risk Assessment | Assignment_2
2CORPORATE GOVERNANCE AND RISK ASSESSMENTmaintaining the healthy relationship within and outside the organization and ensuring the properand fair interaction of the corporate entities. There are some principles in the corporate governance that is necessary to follow for thefair execution of the corporate governance and its objectives. The principles include theshareholder recognition, recognition of the stakeholder’s interest, clearance of the boardresponsibilities, maintaining the ethical behavior and the business transparency (ArAs 2016). Allthe principles are equally important and that the corporate organization needs to maintain thecorporate governance by following these principles. In this section, I will discuss the concept of the risk assessment in theorganization. As per my understanding of the risk assessment in the corporate organization, theterm depicts the process of managing the risk factors in the organization. The risk or the hazardsin the business of the corporate organization can caused from the various factors. The riskmanagement involves the responsibility of the organization of the peeper identification of therisk factors that can cause harm to the organizational operations and the elimination of the same(Pritchard and PMP 2014). The risk assessment of the organizational operations needs to becomprehensive and based on the proper measurement for securing the right and appropriateprocess to control the risk factors. The process of risk management requires following few steps for the proper assessmentof the risks factors in the corporate organization. The steps consist identification of the hazards,determination of the negative influence from the risk factors, evaluation of the risks and thedevelopment of the controlling measurement, finding the records of the previous assessment and
Corporate Governance & Risk Assessment | Assignment_3

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