Enterprise Risk Management

ENTERPRISE RISK
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Aims of organisation...................................................................................................................1
Risk register................................................................................................................................2
Risk threshold.............................................................................................................................3
Identified opportunities and threats.............................................................................................3
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Risk management is a prominent measure which is useful in identifying, evaluating,
control and also assess the key relevant threats associated with the organization. There are
certain level of risk and threat which may arise from wide set of sources which impact the
performance and productivity of the company. Managing the risk is useful in maximizing with
the success of the organization and reducing the likelihood of occurrence of the specific risk.
This study will focus on examining the risk threshold of the organization. It is also significant in
evaluating the threats and opportunities, existing controls, risk threshold and the mitigation
action plan associated with the risk. Asda is one of the British supermarket retail company which
has been founded in the year 1949 by Fred and Peter Asquith. The company is headquartered in
the Leeds, England and it mainly deals in general merchandise, grocery and financial services.
MAIN BODY
Aims of organisation
The key relevant aim of the organization is to significantly focus on providing the various goods
and services which in turn are affordable and cheap to the public. Moreover, reducing the
packaging is one of the key prominent objective associated with the Asda Company. It focuses
on carrying out the business by complying with the corporate social responsibility. This help in
working in the interest of the society and environment. The key aim of the Asda to carry out the
business operations with high degree of accuracy and it is useful in improving the performance
and productivity.
Risk management framework
It is considered to be as an appropriate structured procedure which helps in identifying on the
key potential threats which helps in minimizing the key impact of the risk. It is highly useful in
effectively monitoring and also evaluating the key strategies (McNeil, Frey and Embrechts,
2015). It is highly prominent in taking necessary mitigation action for the growth and success of
the company. This strategy is significant in effectively minimizing and also eliminating the
impact of the risk upon the working of the company.
Process of risk management
The risk management is very essential for the success of the company in the highly competitive
market. Thus, for this it is essential for the company ASDA to follow a series of steps or the
process (Sweeting, 2017). This process is essential for the company as this will assist the
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company in managing the risk in effective manner. The major stages being followed by ASDA in
risk management are as follows-
 The first stage is the identification of the risk as if the risk will not be identified than how
the risk will be addressed. Thus, for this it is essential for the company to identify the
risk.
 The next stage is the analysis of the risk by the company as this will assist the company
in managing the risk in effective manner.
 The next stage is related with the evaluation of the risk and then ranking the risk in
accordance with the priority of the risk.
 The next stage in the risk management process is the treating of the risk with the
available strategies and the measures for the management of the risk.
 In the end the last stage is to keep monitoring the risk that whether it has been treated in
proper and effective manner or not.
Risk register
The risk register is the key relevant and prominent tool for the management of the project
and the management of the risk. However, the risk register tends to significantly include the key
relevant information associated with the risk. This helps in finding the accurate set of
controllable action plan and an accurate mitigation action plan which helps in appropriately
reducing the key risk outcomes associated with the company. It is highly significant in the
identification of the key potential risk and take relevant set of action to improve the working of
the organization.
The risk register is very important for ASDA to make in the effective management of the
company and the operations of the company. This is due to the fact that when the company
manages the risk and maintains a risk register then this provides for knowledge to the company
that they have to manage the working of the company. Thus, for this making the risk register is
of great importance as this will guide the company that which risk is going to impact the
company to high level and which to low or moderate level. Thus, for this the risk register comes
of importance as this will make sure that the company knows every little detail relating to the
each and every type of risk (Florio and Leoni, 2017). Thus, this risk register will be of great
importance for ASDA as this will outline all the details relating to the risk that what is the
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