Literature Review on Supply Chain Risk Management
Added on 2021-04-21
18 Pages4621 Words156 Views
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Running head: MANAGING INTERNATIONAL BUSINESS RISK Managing International Business RiskName of the Student Name of the University Author’s Note
1MANAGING INTERNATIONAL BUSINESS RISK Executive SummaryManaging international business risk is the primary concern of this specific study. Based on thearticle the study has highlighted some effective business issues. An in-depth knowledge andunderstand is given on risk and uncertainties. The author in this article opined that risk is theeffect of uncertain environmental components occurs at the workplace of an organization. Whilerunning the entire business process organizations have to face some uncertain situations due towhich risk factors arise. On the other hand, uncertainty refers to the situation occurred within aworkplace in an unpredictable manner. After highlighting some of the major business issuesprovided in this article the study has given some major recommendations as well for overcomingthe business issue.
2MANAGING INTERNATIONAL BUSINESS RISK Table of Contents 1. Introduction:................................................................................................................................32. Risk and risk analysis:.................................................................................................................33. Differences between risk and uncertainty:..................................................................................44. Three primary uncertainties that multi-national corporations face:............................................55. Three major categories of responses that MNC might adopt for managing risk.......................106. Proposal for solutions:...............................................................................................................127. Conclusion:................................................................................................................................14Reference List:...............................................................................................................................15
3MANAGING INTERNATIONAL BUSINESS RISK Selected Article C: Miller, K.D (1992), A Framework for Integrated Risk Management inInternational Business (adapted), Journal of International Business Studies, Vol 23, No.2 (1992),P.311- 3311.Introduction: This very specific article has depicted in-depth vista about the importance of integratedrisk management in order to control the entire flow of international business. While running theentire process of business, managers have to face innumerable uncertainties as well as risks. Inthis particular article, the author has made a clear difference between risk and uncertainty.However, the study has focused to describe the three major uncertainties that a multi-nationalcorporation may have to face for running their business. On the other hand, some of the majorways of solutions for overcoming those uncertainties is provided in this study. 2. Risk and risk analysis: In general point of view, the concept of risk is primarily used with finance, economiesstrategic management and so many. The author in this article has stated that risk is the effect ofuncertain environmental components occurs at the workplace of an organization. While runningthe entire business process organizations have to face some uncertain situations due to which riskfactors arise. As a result, it reduces the level of performance predictability that ultimatelyhampers profitability of business. Askari and Askari (2012) stated that analyzing the risk factors is highly significant forevery business organization. Business managers of different organizations tend to implementsome alternative business strategies and policies so that any kind of risk can be overcome. The
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