Risk Management in Various Contexts

This assignment delves into the multifaceted realm of risk management across various sectors. It encompasses a collection of scholarly articles examining risk management strategies in fields such as healthcare (diagnosis improvement), renewable energy (wind parks), software development (project management), disaster risk mitigation, pesticide management, and financial instruments for climate change adaptation. The provided case studies highlight how organizations leverage knowledge, techniques, and frameworks to effectively identify, assess, and mitigate risks.

Risk And Quality Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Quality Improvement Plan...........................................................................................................3
TASK 2............................................................................................................................................4
Reflective Report.........................................................................................................................4
TASK 3............................................................................................................................................4
Risk..............................................................................................................................................4
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................7

INTRODUCTION
The world is changing and so does the need of people and the businesses as well
changing with the time and this change has resulted businesses to think over certain issues in
making their brand more attractive and more promising in the mind of customers. Businesses
these days have been looking at two major areas of business which is quality of the product and
the risk factors which can affect the company in a negative way. Quality of the product is as
important for an organization ads the water for human body and thus it is important for every
type of businesses to carry out the quality product for the customers(Olbrich, Quaas and
Baumgärtner, 2014). The present report is undertaken in order to make certain implications and
discussions on the quality and risk management of IKEA.
TASK 1
Quality Improvement Plan
As IKEA deals with the business of manufacturing the Furniture, thus it is of most
important to maintain the quality of the Furniture as per the standards of IKEA. Thus managers
employed at IKEA has been given an important role in making the businesses grow by delivering
quality Catalog Paper's to the people out there(Subramaniam and et.al, 2015). As IKEA needs to
have a plan in the process of Catalog Paper thus it is important for them to build a Plan which
caters the need of the people. Thus for this purpose the Quality improvement plan IKEA
managers can follow is:
Activity to be considered:
As IKEA is dealing in the Catalog Paper thus, it is important that the firm should
maintain the quality of the Catalog Paper they are delivering. Quality is an important trait of the
product which makes customer loyal towards the brand.
Weakness/Strength:
 IKEA is well-Known Brand in Furniture Industry.
 IKEA has a large customer Base.
 Sometimes IKEA has been down in quality matters.
 Production Efficiency and effectiveness are low.

Impact Measures:
The impact of quality products on consumers is always positive as people love to have
those products which provide them satisfaction for the long duration and thus is IKEA is famous
for.
Action Outcome/
Success
Criteria
Deadline Resources Person
responsible
Monitoring
Arrangemen
ts
Insert and
complete as
many rows as
necessary for
you to plan an
improvement in
quality for your
identified activity
Polishing
parts
Meet the
deadlines
2 hours tools and
stuff which
is used in the
polishing
job.
Supervisor Quality
check
Assembling
parts
Quality
check by
having a
test of non
brokerage
4 hours various parts
from various
different
panels
Supervisor Quality
check
Finishing
Job
Final view
of the
Catalog
Paper
2 Hours required
materials
and tools
Managers Quality
check
TASK 2
Reflective Report
As far as i am concern i have been working at IKEA for many years Thus i have seen
Favorable as well as unfavorable conditions both in the organization. There are the times when
IKEA has been making the profits and the times when there was loss due to some issues and
failure of plans and strategies. But that's part of the process and in business nothing is consistent
and nothing is stable(Bunting and Groszkruger, 2016). Thus IKEA has been delivering the
quality products from many years to its customers further to maintain that quality IKEA has to
make sure that they are in control of everything at the factory as Catalog Paper includes lots of
process as well as departments a Catalog Paper goes through various steps to make sure that it is
as per the standards of IKEA. While working at IKEA i have founded that their was the lack of

communication which degrades their effectiveness of the work plus some workers were not able
to gain the work what has to be done, they must have been probably be the new one's who needs
special attention towards the subject matter. In addition to it the important advantage over this
sort of thing is to have the quality of Ikea Catalog Paper. Taking about the quality of the product
i think IKEA has to make amendments in his process as far their quality is concerned as the risk
is prevailing in transportation of the goods thus the damage and brokerage of any goods will
make suffer the IKEA for over their profit of the period. Thus it has been high time for IKEA to
manage the process and deliver quality(Gatzert and Kosub, 2016). By delivering quality they can
ensure the best in class facility which will enable them to make necessary decisions for the
future.
IKEA is a multinational company. IKEA is a well known company of home Furniture.
This company makes many other products of like kitchen appliances, children products and all
other Catalog Paper. IKEA is one of the largest Furniture retailer. When I was working in IKEA
I saw the working skills and management in the company. The environment was very good.
There I was working in sales department. They believe in providing best quality to their
customers. Their motive was to satisfy customers. IKEA is the largest retailer of India. I saw
there that they never compromise in quality of Ikea Catalog Paper(Linnerooth-Bayer and
Hochrainer-Stigler, 2015). They have the specialist who check and make report about the quality
of Catalog Paper or goods what they are going to sell. All the products made by them was
checked by the appointed specialist. As we all know the running scenario is very competitive so
all the companies want to be better from another, so in that case the factor of quality is very
important. They acquire high standard raw material and make the best products from that. IKEA
gives quality assurance to customers so before supplying any product they have a meeting with
quality experts, after their approval then the products will be supplied to customers. IKEA is also
known as quality developer. Time to time they change and improve their process of designing
the product as per the demands of customers(Cross and et.al, 2014). The manufacturing
department was well trained and skilled. Best quality and fair price both these factors helps in
growth and development of company and both was taken into consideration there.
As I told that IKEA maintains and assures about the quality of product, it also plan to
minimize the risk of damaging the product while transporting. The aim was to provide full

protection to their products and hand over to customers safely. The risk in transporting furniture
is less than the smaller products. They have warehouses where they keep the furniture before
delivering to customers. They do insurance of all the products for benefit of customers. The
items which were made of glass will be packed carefully and wrapped fully with protective shell
for reducing the risk of damage(Deacon and et.al, 2015). They make many delicate products so
their safety is main concern for them. They handle these products safely and carefully hand over
the products to its owner. The goods which was carried are valuable so the transporter has the
responsibility to reach the destination carefully and safely and handover the goods to customers.
They have the warehouses in almost all the places where they have customers but the cleaning
was not proper there, so it becomes the health issues for employees. Pollution was also a big
matter in business of Catalog Paper which has to handled carefully. What I had evaluated there
was that they have strong policies and plans to accomplish the goals efficiently and effectively. I
saw friendly and safe environment in that place. They motivate their employees to work with
energy and honesty. They give quality assurance with fair prices. They give timely training to
new and old employees. Their motive is make more and more customers and to get customer
satisfaction. They had widened their work across the world with dignity(Howes and et.al, 2015).
They assure low risk, high quality and fair prices. They appoint young peoples for new and
innovative ideas and for using their fresh thinking to bring new design in market. Many suppliers
was connected with them.
I analyse that the working technology was updated timely. They work according to the
changing environment with latest technology and new resources. Their plans, policies, design,
prices etc. changes as per the demands of customers and changing factors of environment. Time
to time they observe their clients, employees, environment, customers, suppliers and make useful
changes for the growth of company(Lewis and et.al, 2016). It keeps an eye on all the internal and
external factors which effect the company. Ikea Catalog Paper is a brand name it doesn't need
any publicity but for maintaining the name and goodwill its aim is to assure quality and maintain
good relation with customers. They do feedback sessions also to know more and more for
welfare of company. They can make fuller utilisation of human and non human resource
available with them. This company maintains a healthier and safe environment for employees.

So, the main motive of the company was to assure quality with fuller utilisation of all
resources. To maintain goodwill of the company. To reduce risk factors whether the risk
regarding transport or regarding any other resource(Alviniussen and Jankensgard, 2015). They
use many techniques to analyse the risk factors and for reducing the risk on time and for
handling the situation on time. They have experienced and skilled people and many specialist
who were fully motivated and dedicated to their work. So, my experience was good there and
my expectations are fulfilled and I had learned many things from them. The way they working,
the way of handling, the way of treating. The thing which I don't like about the company was the
burden of work. Every day I had given more time than specified. The number of employees are
less than required. So, burden was there but then also I had enjoyed the work. Daily I have to
report my senior about my task given and what I had achieved. They are polite and sometime
strict also where require. Their policies were flexible. Many programs were done for promoting
cleanliness and for development of employees, and many other activities also done for the
welfare of employees and company both(Farrell and Gallagher, 2015). Maintaining high quality
and minimizing risk with fair prices and with full utilisation of resources was the important
factors which have to be considered in all the companies. Both internal and external factors
effect the company so not a small should be left which will create risk in future and bring loss.
They also make marketing strategies for the growth of company to analyse risk and take action
on that. Their share prices was high in market because they had maintained goodwill. IKEA had
expanded their business across the world in few years and they have ability to maintain that.
They are making many other products. Mostly they manufactured products in developing
company because it reduces the cost. So it becomes beneficial for both customers and company.
It had given many advantages to customers and employees. Many campaigns are done by this
company for the welfare of society and for advertising purpose. It generated high revenue for
government because it has high turnover(Farrell and Gallagher, 2015). As far as my learning's
are concerned i have learned their so many things like how to maintain the level of motivation at
the workplace even when you face the deviations in the business process. This trait of leaders
and managers have impacted over me in a significant manner further to this has resulted me
make and develop some leadership skills in me which has been a great addition to my personality
as well. Also i have witnessed the employee engagement party in which all the level of

employees were asked to come up with innovative games and potteries and a function or
program is conducted once in a year which encompasses and witnessed a huge crowd and this
crowd not only enjoys their but also develops new skills and make necessary skills
required(Farrell and Gallagher, 2015). IKEA has been delivering the quality products like IKEA
Catalog Paper from many years to its customers further to maintain that quality IKEA has to
make sure that they are in control of everything at the factory as Catalog Paper manufacturing
includes lots of process as well as departments a Catalog Paper goes through various steps to
make sure that it is as per the standards of IKEA. By delivering quality they can ensure the best
in class facility which will enable them to make necessary decisions for the future(Vilko, Ritala
and Edelmann, 2014). In addition i think IKEA needs to ensure that many new businesses have
been created in order to make sure that people are satisfied so in order to retain the customers
and continuously satisfy the customer IKEA has to make certain amendments which can further
make their process easy and they can avoid the risk factors and also in accordance to it they can
deliver the effort to make customers happy for better tomorrow.
TASK 3
Risk
As it has been seen that IKEA in order to make the quality product which is IKEA
Catalog Paper needs the materials and parts of the Catalog Paper by which the process can be
undertaken to come up with the finish product plus helps in making the people to more buy the
Catalog Paper with the sense of trust in them. But what if the transportation of materials is not up
to the time. Thus there comes the risk factor in place. As raw materials arrival is important it is
also important to maintain the transportation level specific and effective and efficient because
sometimes it happens that in transit goods get crashed or damaged thus it is a loss for IKEA as
their time has gone(Neves and et.al, 2014). Further the kind of risk which can be faced by IKEA
in maintaining the Quality is mentioned below:
Risk Item Description:
Author: Manager
Risk Statement Condition: if Catalog Paper parts are damaged or theft in the transit

Risk Statement Consequence(s):
then
[and ... ]
Damage of the parts of Catalog Paper.
Theft or stolen by the snatchers.
Break down of material
Probability: V.Low / Low / Medium / High / V.High
VERY HIGH
Impact:
V.Low / Low /
Medium / High /
V.High
HIGH
Earliest the risk could have an effect:
on the working of the organization and can make huge loss
to the IKEA.
Latest the
risk could
have an
effect:
Mitigation Plan: [to prevent/reduce
the chance that the situation will
occur]
Proper packaging can be done.
transportation workers should follow coercin.
many more techniques and tools can be adopted.
Contingency Plan: [to deal with
situation when it occurs]
Date Event
Current Date

CONCLUSION
From the above report it has been concluded that in order to build the brand's reputation
in the minds of consumers it is important for any organization to maintain the quality of the
product and also they have to deliver the quality product to its customers for further
improvements. As per this report quality and Risk are associated and dependent factors, if risk is
their in the firm then quality of the product is likely to get affected and in the same way when
quality is not maintained then the risk will lay its eggs in the organizational operations. Thus it is
important for every firm to comply with rules and regulations and deliver as per the quality.

REFRENCES
Books and Journals
Alviniussen, A. and Jankensgard, H., 2015. Enterprise risk budgeting: bringing risk management
into the financial planning process.
Bunting, R. F. and Groszkruger, D. P., 2016. From to err is human to improving diagnosis in
health care: the risk management perspective. Journal of Healthcare Risk Management.
35(3). pp.10-23.
Cross, R. R. and et.al, 2014. Identified mortality risk factors associated with presentation, initial
hospitalisation, and interstage period for the Norwood operation in a multi-centre
registry: a report from the National Pediatric Cardiology-Quality Improvement
Collaborative. Cardiology in the Young. 24(02). pp.253-262.
Deacon, S. and et.al, 2015. Integrating ecosystem services into risk management decisions: case
study with Spanish citrus and the insecticide chlorpyrifos. Science of the Total
Environment. 505. pp.732-739.
Farrell, M. and Gallagher, R., 2015. The valuation implications of enterprise risk management
maturity. Journal of Risk and Insurance. 82(3). pp.625-657.
Gatzert, N. and Kosub, T., 2016. Risks and risk management of renewable energy projects: The
case of onshore and offshore wind parks. Renewable and Sustainable Energy Reviews.
60. pp.982-998.
Howes, M. and et.al, 2015. Towards networked governance: Improving interagency
communication and collaboration for disaster risk management and climate change
adaptation in Australia. Journal of Environmental Planning and Management. 58(5).
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Lewis, K. A. and et.al, 2016. An international database for pesticide risk assessments and
management. Human and Ecological Risk Assessment: An International Journal. 22(4).
pp.1050-1064.
Linnerooth-Bayer, J. and Hochrainer-Stigler, S., 2015. Financial instruments for disaster risk
management and climate change adaptation. Climatic Change. 133(1). pp.85-100.

Neves, S. M. and et.al, 2014. Risk management in software projects through knowledge
management techniques: cases in Brazilian incubated technology-based
firms. International Journal of Project Management. 32(1). pp.125-138.
Olbrich, R., Quaas, M. F. and Baumgärtner, S., 2014. Characterizing commercial cattle farms in
Namibia: Risk, management and sustainability.
Subramaniam, N. and et.al, 2015. Integration of carbon risks and opportunities in enterprise risk
management systems: evidence from Australian firms. Journal of Cleaner Production. 96.
pp.407-417.
Vilko, J., Ritala, P. and Edelmann, J., 2014. On uncertainty in supply chain risk
management. The International Journal of Logistics Management. 25(1). pp.3-19.