Case Study Analysis: Risk Management Assessments and Strategies

This document presents a series of case studies analyzing risk management practices across different business scenarios. The first case study examines the financial and competitive risks faced by a retail company entering a new market, emphasizing the need for thorough risk assessment methods such as information gathering and brainstorming. The second case study focuses on fire risk assessment, detailing the steps involved in identifying hazards, evaluating risks, and implementing safety measures, including the use of what-if analysis and checklists. The third case study evaluates the risk faced by General Motors regarding car sales, highlighting the importance of market surveys, and safety measures in the review process. Finally, the fourth case study outlines four types of risk treatment: avoidance, reduction, transfer, and acceptance. The document provides insights into risk assessment techniques, strategic responses, and mitigation strategies.

MANAGE RISKS

Table of Contents
ASSESSMENT 1.............................................................................................................................1
Case study...................................................................................................................................1
ASSESSMENT 2.............................................................................................................................1
Case study ..................................................................................................................................1
ASSESSMENT 3.............................................................................................................................2
Case study...................................................................................................................................2
ASSESSMENT 4.............................................................................................................................2
Case study...................................................................................................................................2

ASSESSMENT 1
Case study
1. In the given case study, management is conducting its own risk steps which does
include only financial aspects of competition as it was not evaluated properly. As
the success of retail company is on the line at Victorian market as they through
that launching of this company there is not beneficial for them. They are
struggling against competition or government issues in that market.
2. There are various methods that could have be identified by the senior
management before entering into the market. Some them are information
gathering techniques, brainstorming, Delphi techniques or many more. All these
will help to perform risk assessment and analysis that are required from the
management during the outset by proper understanding of risk in both market.
ASSESSMENT 2
Case study
1. As EMQ staff need to provide proper assessment to the participate which is
designed to overcome the risk to life that includes comprehensive issues like,
identification of combustible loading, determining ignition sources or oxygen
sources, way to escape. It also involves detection and communication between
participate to get aware about fire risks. They can achieve their target by carrying
out suitable and efficient fire assessment.
2. The research methods used under this situation described in major 5 steps to
assess the risk as identify any fire hazards, determine who could be harmed,
evaluate the risk, record the significant findings arises under the learning process
and at last review risk assessment if need . However, certain methodologies could
be followed. The research methods have been determine to guide statements of
RRO (Regulatory reform order).
3. The following methods should be used to do risk assessment. Like, use a what-if
analysis to identify threats and hazards. It is said to be brainstorming activity.
second is checklist of known hazard it depends upon quality. Next is the
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combination of both checklist and what-if analysis. They both are use with
relation to each other in assessing the risk.
ASSESSMENT 3
Case study
1. In the above mentioned case study we have observed that the company
General Motors is evaluating his risk regarding sales of cars in 2007 as
there are certain rules that can be followed by the specialists during their
review process like, make survey about their services and change
according to the need. Safety and security measures should be critically
evaluated.
2. As per the situation mentioned under the case study General Motors are
facing huge losses because of inefficient fuel guzzling of V8 and sports
cars. This could because they are high speed cars that use more fuel. So by
seeing the oil prices the company should stop the production of these and
provide consumer efficient cars in market.
ASSESSMENT 4
Case study
1. There are generally four types of risk treatment. like, Avoidance: under
this must be taken by avoiding action that causes risk. Reduction:
mitigation action can be taken to reduce the risk. Transfer: The risk of the
company can be transfer to the third party as per the need. Acceptance:
They must be generally accepted by under different situations.
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