Corporate Risk Management: Strategies and Practices

Corporate Risk
management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Identification and assessment of risk face by the company.........................................................3
Risk framework and models........................................................................................................5
Discussing the Risk response to risk exposure in the company...................................................6
Practices and governance approaches to manage the risk ..........................................................7
Evaluating the Risk communication to key stakeholder..............................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Corporate risk management refers to methods that company uses to minimise financial
losses and many factors used to control this in order to prevent the loss for the company. Risk
management also related to external threats that is associated with the company and will be
useful in assessing the other factors. In this report Channel 4, Marks and Spenser and Altria is
being taken and discussing the types of corporate risk and their strategy, assessment, response
and risk communication (Danisman and Demirel, 2019). Channel 4 is publicity owned and
commercially funded UK public service Broadcaster to deliver the high quality innovative to
challenge the status. The risk exposure in the organisation is that it continuously the develop the
VOD platform and apps to meet the viewer demand. To reduce the risk certain steps has been
adopted by the organisation such as using the latest technology in the organization. Marks and
Spenser is British multinational retailer with the headquarter in London that deals in many food
products. The risk exposure that is it face the extreme competition in the market. Altria is
American corporation and one of the largest producer and marketer of Tobacco, cigerate and
related products. The approach that is used by the organisation is to use effective technique and
tools to make it more effective in the company. The risk that is finding in the management is the
awareness of people in the country regarding the health conscious. The approaches that is used is
to make the things aware about this to the people. This Determining the communication of risk
of their key stakeholder and what are the steps that is being discussed about the company and
will lead to certain benefits. Evaluating the key exposure and approaches that helps in
minimizing the risk in the company.
MAIN BODY
Identification and assessment of risk face by the company
The risk faced by the company is depend on the nature that present in the environment
and types of organisation that it is, which decide the risk factor for the firm. In the context of
Channel 4, Mark and Spencer and Altria the risk that is associated with the management to deal
with the future circumstances and to overcome them to maximise the profit. Following are risk
associated with the Channel 4 are as follows-

 This channel is non-profit organisation which is owned by the UK organisation has faced
many types of risk such as attracting the younger audience towards the channel and to
make sure that they were watching and engage in the channel.
 The another risk is displaying the news that might occur the issues to some sensitive
topic and this create big problem as it develop lots of mismanagement in the organisation
(Dionne, Gueyie and Mnasri, 2018). This issue is majorly face by many news channel
company as playing the insensitive news in the national broadcast channel might create
havoc in the company.
 Operational risk is anther risk that has been facing by the company where it decide the
overall efficiency and it is all about the engaging the viewers is important as not focusing
of customer will widely impact the channel profitability and revenue.
 Channel 4 has also has a fear of reputation in the industry and types of services it
provided to the viewership is also as important and the way it treats the viewers in
relation to other channel. Negative image will badly affect the overall efficiency of the
management and impact the trust of customer.
Marks and Spencer
 Loss of engagement with customer is major risk which is facing by the company and that
need to be resolve by the organisation. In this risk the fear of losing the interest of
customer will impact the long term growth of the company. Due to competition in the
market create the problem for the company to make the customer engaged with the brand
(Giambona and et.al., 2018).
 Failure of new selling channel- This is also the issue that id face by the organisation that
it unable to execute appropriate selling channel in the market. They might fail to deliver
the improvement across store estate to time in desired budget and quality. There are
some limitation that is observed by the organisation that unavailability of proper online
stores and lots of issues regarding the supply chain to the customer.
 Increasing in competition is risk that has been facing by the organisation as due to entry
of lots of new entrants and their new strategy will impact the overall effectiveness of the
concerned organisation. The fear of losing the market share and brand image is fear in
the company and the way in which it focusing on to minimizing it is important. This can
also be stated as reputation risk for the Marks and Spenser.