The Previous Risk Management Standard of Australian

Running head: MANAGING RISK
Managing Risk
Name of the Student:
Name of the University:
Author note:

1MANAGING RISK
Table of Contents
Assessment 1:..............................................................................................................2
Answer 1)..................................................................................................................2
Answer 2)..................................................................................................................2
Answer 3)..................................................................................................................2
Answer 4)..................................................................................................................3
Answer 5)..................................................................................................................3
Answer 6)..................................................................................................................4
Answer 7)..................................................................................................................4
Answer 8)..................................................................................................................4
Answer 9)..................................................................................................................5
Answer 10)................................................................................................................5
Answer 11.................................................................................................................6
Answer 12:................................................................................................................6
Assessment 2:..............................................................................................................6
Part A:.......................................................................................................................6
Part B:.......................................................................................................................7
Part C:.......................................................................................................................9
Part D:.......................................................................................................................9

2MANAGING RISK

3MANAGING RISK
Assessment 1:
Answer 1)
In the year 2009, the previous risk management standard of Australian and
New Zealand was replaced by AS/NZO ISO 31000:2009. One primary purpose of
the risk management standard is to create and protect the value of the organizations
which helps in the achievement of their goals and strategies. It is done through the
continuous reviewing of the organizational systems and processes.
Answer 2)
Eleven key principles of the current risk management standards in Australia;
 Protects and creates values.
 Be an important part of the processes in an organization.
 Be a part of the organizational decision making strategies.
 Explicitly addressing uncertainty.
 Be structured, timely and systematic.
 Based on best information available.
 Taking into account cultural and human factors.
 Be tailored.
 Be inclusive and transparent.
 Be iterative, responsive as well as adaptive to changes and dynamic.
 Facilitate continual organizational improvement.
Answer 3)
The legislative and regulatory areas Adidas should take into account are;
better wages for the workers, the workers should have the right to form or organize