Enterprise Risk Management Review

Enterprise Risk
Management

Table of Content
INTRODUCTION...........................................................................................................................3
Introduction of the organization..................................................................................................3
Aims of the organization.............................................................................................................3
TASK 1............................................................................................................................................4
Threats and opportunities for Tesco company.............................................................................4
TASK 2............................................................................................................................................6
Risk Management practices at TESCO.......................................................................................6
TASK3.............................................................................................................................................9
Risk Register................................................................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
In present era, business organizations are performing their operations in more competitive
and complex environment. Risk management is a kind of process that is used by an enterprise in
order to minimize their risks. Through this, the firm will be able to grab the opportunities that
will lead them towards success (Hoyt and Liebenberg, 2011). By adopting risk management
strategies, they will be able to identify the challenges that are faced different stakeholders. So, in
this manner their overall needs and demands can be fulfilled. There are some elements in this
approach such as objectives, risk identification, assessment, response and monitoring. Through
this, they will be able to manage their overall operations such as to manage cost, making
effective decisions and so on. The present report is based on TESCO which perform their
operations in retail industry. In this context, report evaluates the risks and opportunities that are
faced by retail industry at their workplace. Further, it explains the actions that are performed by
an entity in order to resolve the issues.
Introduction of the organization
Tesco is an multinational retailer company which is incorporated in UK. This is the
world’s around third largest retailing organization which provide grocery to their targeted
customers. Tesco is founded by the Jack Cohen in 1919. This organization deliver various types
of goods and services to domestic as well as overseas customers in order to attract them and try
to earn large amount of money. It has around 7000 stores in all over the world. It provides to
employment to approx. 5,00,000 people. Tesco owned distributers, whole seller and retailer. It
can expand business in lots of countries in order to improve earning through they ae also to
improve their performance and work quality as well. This the multinational retailer which deliver
large verities of goods and services in the international market such as cloths, toys, books, petro
etc. It has large number of stores in around 12 countries in all world.
Aims of the organization
Tesco is one of the leading retail chains in United Kingdom which offer their services at
low prices than their rival firms. They provide high quality food to their customers so that they

can improve their brand image at global level. Every business organization set their vision and
mission statement so that a particular guideline can be set (Lam, 2014). There are some aims and
objectives of the retail industry such as:
 To maximize the sales and profitability in the market: In order to increase overall sales,
retail industry offer products at low price, special deals are offered to the end users.
Through this, they will be able to attract people towards their services and high revenues.
 To offer more healthy food products: This is the main aim of TESCO as through this they
will be able to attract more health conscious people towards their goods or services. So,
in this manner they will be able to fulfill the needs and demands of their customers.
 To sustain competitive advantage in the market: The retail industry focuses on their
online operations as through this they will be able to offer their services throughout the
world. Due to their sales can be increased and profits can be enhanced.
By creating a vision, an enterprise will be able to accomplish their goals and objectives in an
efficient manner. Along with this, TESCO can enhance their growth in the market as compare to
other competitors.
TASK 1
Threats and opportunities for Tesco company
There are many opportunities and threats for Tesco which having impact on the existence
of company and also able to define actual performance of the company. These factors are as
define below:
Opportunities:
Various types of opportunities for Tesco which are able to expand it business in
international market and improve their performance as well. The biggest opportunity is that, this
company has large number of store in lots of countries through which they are able to grow and
also gets an advantage to earn huge profit (Alviniussen and Jankensgard, 2015). It produce
various types of goods and services and deliver them in the international market. Through which
are able to attract targeted customers and improve their over all performance as well. It has been
growing online shopping in the UK market. Exploring its business in India and get fruit return
with this. Use various types of marketing tools and techniques in order to introduce their goods
and services in other places. They needs to set cheap price of their products and services for
attract people because most of the people want to select which are cheaper in price. This process