CORWIN CORPORATION Surname 3
Corwin corporation Risk management report
1) Executive summary
This particular report seeks to analyze the extent of risks Corwin Corporation incurred after
agreeing to sign a deal with Peters Company. Being an internationally recognized company, with full
capacity of producing high quality rubber components with minimum cost, Corwin Corporation
accepted a specialty - product assignment from Peters Company (Bennett, 2010). Knowing the kind
of company, they were dealing with, Corwin’s marketing VP threw caution to the wind and entered
into a blind agreement with Peters Company after being offered an enticing 5 years deal.
2) Introduction and background
Over the history Peters Company has proved to be one of the hardest companies to work with.
The kind of working environment they offer to any client they work with is not desirable at all. The
six months working duration was filled with chaos. Not only did the deal bring huge losses to the
corporation, good working environment between the two companies was also ruined (Bennett, 2010).
Lack of professional personnel’s, poor communication strategies, negligence and ineffective planning
led to the challenges.
3) Risk identification and assessment
. In this particular case study, there are certain risks that can be highlighted. First and
foremost, working with Peters Company was the greatest risk. The company has a bad reputation of
piling intense pressures their partners. With this knowledge, Corwin Corporation took a step to work
with them (Dumbravă,2013). Secondly, accepting a project which they were not in a position to
deliver quality results was also a risk. However, because of greed they took an assignment knowing
they did not have skilled manpower and adequate resources to undertake the task.
It’s often said that when the deal is too good think twice. Frimel accepted a deal with only
rough specification. Ideally, before one accepts any task, they have to get whole details even the
minute information (Dumbravă,2013). However, this was contrary to the expectations. A deal was
agreed and sealed over a mare telephone call without in-depth details. This was pure risk. In relation
to this, a fixed amount of money was agreed upon without calculating knowing the exact cost of
cooperation. They were given a fixed amount of $ 250,000. By the end of the whole assignment,
Corwin had incurred a huge lose surpassing the budget amount.

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Risk Management Report for Corwin Corporation

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