Managing Safety and Health of Business Assignment

Added on - 18 Sep 2019

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Running Head: RISK ASSESSMENT 1Risk AssessmentName of the Student:Name of the University:Course Number:
RISK ASSESSMENT2IntroductionThe entire project will revolve around the risk assessment. It can be said that the riskassessment is one of the major elements of an organization in the recent times. It is mainly a vitalpart of managing the safety and health of the business for controlling the risks in the workplace.On the other hand, the risk assessment is also a determination of the qualitative as well as aquantitative estimate of risk that is directly related to a particular situation and a threat that isrecognized also known as a threat. The risk assessments help a company to identify the mainhazards that can have a negative impact on a company's ability to conduct the business activities.Furthermore, the risk assessments also help to identify the inherent business risks and providecontrols, measures, and processes for reducing the impact of the risks on the operations of thebusiness. There are a large number of companies across the globe that uses the risk assessmentframework for sharing and prioritizing the details of the assessment that contains any type ofrisks with regards to the information technology structure. The chief risk officer mainly conductsthe entire process of the risk assessment. However, there are some of the important steps forcarrying out the risk assessment such as: Firstly, the identification of hazards is necessary, thendetermining the individuals who can be harmed by the hazards, evaluating the particular risksand developing proper control measures, recording the findings and updating and reviewing therisk assessment on a regular basis. The entire project will be divided into a project proposal,Annotated bibliography and risk assessment report.Project proposalThe company that is taken into account for the risk assessment is Deloitte. It has beenobserved that Deloitte is present all across the globe. The location that is considered for this
RISK ASSESSMENT3study is Deloitte in U.S. and the address is 420 20th St N #2400, Birmingham, AL 35203, USA.Deloitte is one of the best multinational corporations in the entire world and the founder of thecompany is William Welch Deloitte and it is headquartered in London. The main services ofDeloitte are Audit, Legal, Management consulting, financial advisory, and Tax (Deloitte LLP Dr.Patchin and Carey, 2012). As per the website of the company it can be said that Deloitte refers tothe brand under which the independent companies throughout the world collaborating to theabove-mentioned services (Bahr, 2014).One of the key business areas of the Deloitte is technology. The key objectives of thecompany are as follows. Firstly, in terms productivity improvements: The company aims inmaximizing the asset utilization and minimizing the downtime, managing the synchronizationand supply network costs, planning accuracy and stability, and driving the indirect and directlabor efficiency. Secondly, in terms of the risk reduction: the company ensures the availabilityand right price of the raw materials, managing warranty and mitigating the geographic risks.Thirdly, in case of the incremental revenue: Deloitte find sources of growth for the core business,the company also aims at deepening consumer insights and understanding. Lastly, one of themain key objectives that are new revenue: The company, in this case, creates service and theproduct offerings, identifies the opportunities that are quite attractive in nature and they are alsoexpanding their roots in the emerging markets (Hopkins, 2011).The main purpose of this proposal is the risk assessment in Deloitte. The researchmethods are mainly the data analysis and data collection represents the main research methods.The research methods that will be used in the study are the exploratory research and theexplanatory research (Covello and et al, 2013).The exploratory research is conducted mainlywhen there are no or few earlier studies with regards to which the references can be made for the
RISK ASSESSMENT4information. In this study, the exploratory research will help to determine the best data-collectionmethod, research design, and selection of the certain subjects. A lot of methods such asinterviews, discussions, and other tactics are also used for gathering more information. On theother hand, the explanatory research will be conducted for establishing the final result rather thangiving priority to the result. Moreover, it has been witnessed that the analytical approaches isapplicable for the all the stages in the entire research (Haimes, 2015). Throwing light on theabove-mentioned statement it can be said that there are three analytical research methods:Grouping Analysis approach, Regression Analysis approach, and Multiple Equation Methods. Itcan be also said that the particular research method that is chosen for a study completely dependson the type of research that is aimed at carrying out. The research will also highlight the riskassessment and the compliance risk assessment practice in the organization. The main aim of thereport will be directly focused on the main topic that is the risk assessment.Annotated bibliographyLavastre, O., Gunasekaran, A., and Spalanzani, A. (2012). Supply chain risk management inFrench companies.Decision Support Systems,52(4), 828-838.In this article, it has been highlighted that the risk thematic is not at all new in the worldof management but the risk assessment is one of the main elements and also a growing subject inthe supply chain management. The supply chain risk management plays an important role withregards to identifying and managing the various processes that are related to a business in aproactive manner. However, it has been also highlighted that the supply chain risk has a lot ofsources including supply, process, control, and demand. These are some of the risks that havebeen identified faced by the supply chain management. Adequate responses, specific techniques,
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