Assignment On Diploma of Business Management.

Diploma of Business Management 0
Diploma of business management
System04116
8/20/2019
A.

Diploma of Business Management 1
A.
1. Purpose of the standard:
 To utilize for harmonize risk management processes in existing and future
standards;
 To provide a common approach in support of standards dealing with specific risks
or sectors and does not replace those standards.
2. Most useful features of the standard:
 It is systematic, timely and structured;
 It is an integral part of all organizational processes;
 It creates and protects value; and
 It is a part of decision-making.
B.
1. Goals and objectives of the training organization enrolled with:
 To give employees the skills they require for becoming better workers which in
turn will provide certain financial benefit;
 Creating the supportive workplace so that employee can know they are valued and
feel more satisfied within their workplace (Curado, Et al, 2015).
2. Goals and objectives could be put at risk by:
 Maximize threats and reduce opportunities; and
 Not identify, evaluate, mitigate and control potential problems.

Diploma of Business Management 2
3. No, it is not a risk if a bad situation does not affect the organization’s goals and
objectives as it is learned that risk occurs due to instability, imbalance and impossibilities
of business and finances of the company.
4. Systematic risks such as business risk, financial risk, liquidity risk, exchange risk,
country risk directly impact the objectives or goals and unsystematic risks indirectly
impact the goals as the risks arises tends to serious loss of the profits and changes of
things in business plan. Yes it is important to manage both the risk to define the
objectives for the future and helps to achieve the primary goals or objectives.
C.
1. Staff and stakeholder participation is important as there feedback is valuable source of
information which can be used to better the design of project and outcomes and helps to
identify and mitigate the external risks (Bourne, 2016).
2. As stakeholders and staff are the key persons of the organization and they handle the risk
associated with their activities at each stage of risk management process. The
stakeholders must be informed about these stages as they are also having shares in the
company and face the same loss or profits when occurred.
3. As per the standard AS/NZS ISO 31000:2009, the stakeholder participation helps to
translate the needs of stakeholder into the organizational goals and also creates the basis
of successful strategy development. the principles in the standard are:
 Can be used by private, public enterprises, group or individual or associations;
 Promote uniformity of risk management across organization (Purdy, 2009).
D.