Coursework Assignment 1Answer Template

Coursework assignment 1answer template930Coursework submission rules and important notes
Before you start your assignment, it is essential that you familiarise yourself with the
Coursework assessment guidelines and instructions available on RevisionMate.
This includes the following information:
 Important rules relating to referencing all sources including the study text, regulations and
citing statute and case law.
 Penalties for contravention of the rules relating to plagiarism and collaboration.
 Coursework marking criteria applied by markers to submitted answers.
 Deadlines for submission of coursework answers.
 There are 80 marks available per coursework assignment. You must obtain a minimum of 40
marks (50%) per coursework assignment to achieve a pass.
 Your answer must be submitted on the correct answer template in Arial font, size 11.
 Your answer must include a brief context, at the start of your answer, and should be referred
to throughout your answer.
 Each assignment submission should be a maximum of 3,200 words.
 Do not include your name or CII PIN anywhere in your answer.
Top tips for answering coursework assignments
 Read the930 Specimen coursework assignment and answer, available on RevisionMate.
 Read the assignments carefully and ensure you answer all parts of the assignments.
 You are encouraged to choose a context that is based on a real organisation or a division of
an organisation.
 For assignments relating to regulation and law, knowledge of the UK regulatory framework is
appropriate. However, marks can be awarded for non-UK examples if they are more relevant
to your context.
 There is no minimum word requirement, but an answer with fewer than 2,800 words may be
insufficiently comprehensive.
To be completed before submission:
Word count: 2534 Words
Start typing your answer here:
Marsh: Brief Overview
Marsh Inc. is the global leader organization that is focused on insurance broking and
innovative risk management activities. The company has 35000 employees, who is
dedicated to perform together in order to satisfy their clients. Company is focused in
functioning in order to give advices to their individual and all different kind of commercial
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Coursework assignment 1answer template930clients. Presence of the company is wide spread to around 130 countries and concludes 500
offices all over the world. Marsh is a subsidiary of Marsh & McLennan Companies (MMC),
which widely known throughout world for their performances in positive note. The company
is completely owned by the themself.
The organization is dedicated to help their clients, which is the main objective of them
by removing the phrase “What- ifs” by their thinking by managing the risks associated by
them effectively, it is also focused on providing them better quality than others and
transforming the types of uncertainties that are incorporated into several sort of
opportunities. The current CEO of the organization is Peter Zaffino, however on the other
hand the current CFO of the organization is Keith Walsh. The subsidiary organization of
Marsh is Bluefin Group Limited1. The subsidiary organization generates higher amount of
revenue for the organization who are indulged with the same sort of business and they are
earning higher amount of revenue that is causing the parent company to get related with
higher amount of return.
External Organizations and their affiliation with Marsh
Three types of external organization which are significantly involved in affiliation to Marsh:
i) Economic forces
ii) Socio-cultural forces
iii) Technological forces
Economic forces
Economic forces specify the market demand and the balance between demands and
supply in the market. This generally helps to analyze the power of segmentation between the
people who are associated with the product plan and who are not really much into it. This
gently describes the effect of bargaining power of the consumers in the market and also the
suppliers in the market in relation to availability within the market. The purchasing power in
the market is very much important in relation to understand that how much the customers
can be able to spend in the market. This is generally the actual reason by which it gently
helps the organization to know the spending patterns. It is very crucial for the managers of
the company to understand that they shall not try to explore their plans by implement in the
business by creating an impact to the people. They should not plan to deal with importing
and exporting business without being knowing about nominal GDP, real GDP, import duty
1 Marsh & McLennan, ‘About Marsh’ (Marsh & McLennan, 2019)
http://www.mmc.com/about-us/overview/about-marsh.html accesses 20th April 2019
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Coursework assignment 1answer template930and tariffs of the country. Marsh are very well balance in this source of viability in analyzing
the GDP, import duties, tariffs and understanding the spending pattern, bargaining power of
the consumers.
Socio-cultural forces
These are the forces which generally force to link to those factors that are really
focused on the basics of values, culture, preference, behavior, education. Values of the
organization is believed with the ethics and conceptions enriched from the ancestors of the
family of the particular customers. Culture is related to the system that is evoked from
conceptions and habitants related to the focus of the family protocol that is followed day after
day. This system is followed by the business houses that are gently associated with evolving
newer technologies. There are many instances where business firms fail miserably to
analyses requirements of the customers and their tradition in the selected country. Marsh is
however much prepared in advance to accommodate the variations to maintain the socio-
cultural forces and they are quite succeeding in it.
Technological forces
It is the type of force that is enhanced in acknowledging modern technologies to
implement the resources in order to get help in managing the resources efficiently.
Converting the raw materials and perfectly managing the crucial influencing innovation of the
market opportunities. It generally helps in development of wireless technologies that is
specifically involved by Marsh in order to control their inventory system very effectively.
Earlier they used to face this problem and recently this is the best technology that they are
dealing with higher efficiency.
Selected Organizations and Business Risks
It is the type of risk that is associated with the employees and the organization who
are indulged in the process of structuring the business concept. It is the risk, which is as the
name suggests is the type of risk, which may or might not be faced by the organization
during its working span. It is considered as the exposure to the organization that coincides
some type of factors, which might be present internally or externally and it might lead to loss
or solvency of the particular organization. In the above paragraphs, the relation of Marsh
with some other external organization forces is explained effectively. In this section,
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Coursework assignment 1answer template930considering the references added to the selected external organizations that are believed as
their one major business risk.
Business Risk and application in economic forces
Economic forces are considered as already explained as the financial conditions that
are recognised as the measurement by which people are quite feasible to pay and who are
not enough feasible to deal with it. This section deals with a range of customers2. As it is
referred as the advertising and market communication based agency, it might encounter the
most probable risk which is referred as Defamation. It happens because; this section is
associated with proper utilisation of resources to attract range of customers. Defamation is
recognised as one of the major threat in media marketing industry.
Defamation with contenting to media or advertising industry defines by creativity
advertisements, which makes false or disregarding statements by focusing other different
company, different sort of idea and other kind of production analysis.is also focused in
transformation of advertising industry. These issues are considered as the most
unconditional problems that is associated with larger section of ideology in relation to
conditioning solving of the problems. The foundation of the fault is resembled as the most
functioning context, so that it can hamper the image of advertising industry severely and the
image of innocent one to some extent3.
Business Risk and application in technological forces
Technological forces play a big role in considering of business risk that concludes
biggest fault in analysing or any other information technology company can face is the Cyber
Risk4.
It is the risk which consists of factors that enable to cause harm of business that
concludes digital platform. These are the risk factors that consist of different sort of activities,
this is related to the security that prefer hacking of the accounts which can be related with
many type of details in the associated things which are available online. Software analysis
and implementing analysis are considered of organizations are the main events that mostly
depends upon digital platform. Focusing in order to maintain competitive platform in nature, it
is required to evolve according to the market needs5.
2 Doremus, ‘Work’ (Doremus, 2019c) https://www.doremus.com/work/ accessed 20th April 2019
3 David, Rolph, ‘Defamation by Social Media’ [2013] 117 SLS Research Paper No. 13/81 16
4Nikhilesh, De, ‘ IBM Expands Blockchain Partnership With Insurance Broker Marsh’ ( Coindesk,
2018) https://www.coindesk.com/ibm-blockchain-expands-partnership-with-insurance-broker-marsh
accessed 20th April 2019
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