Risk Management Assessment Report

Added on - 21 Jul 2020

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RISK MANAGEMENTASSESSMENT (PART 1)
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Company overview.....................................................................................................................1Consultation and communication activities taking place while planning process......................2TASK 2............................................................................................................................................4Assessment of organizational risk...............................................................................................4TASK 3..........................................................................................................................................11Design a risk register.................................................................................................................11CONCLUSION..............................................................................................................................20REFERENCES..............................................................................................................................22APPENDIX....................................................................................................................................23
INTRODUCTIONRisk is a term which means potentiality of acquiring or losing something valuable andconsider as a uncertain situation in which anything might be happens without any indication.However risk assessment is seen as a identification of estimated threat that might be occurred inan organization or either in future (Higginsand Field,2012). Ultimate security is one of thefamous organization in UK whose main objective is to defend common people from any disastereither politically, legally and so on. Thus, assignment is going to highlight the various roles andresponsibilities of different stakeholder while planning process for overcoming distinct barriers.Moreover, influence of macro and micro factors while assessing the risk is also outlining in thisproject in order to understand effect of these components on company performance.Furthermore, report is also designing an effective register of risk assessment so that anassociation can easily get aware about the level of dangers encountering by an enterprise whilerunning their business operations.TASK 1Company overviewUltimate security is one of the leading organization in London by almost 2000experienced or talented employees at around 200 locations or more than this. In fact, their firstor foremost objective is to make their customers feel comfortable or secure by protecting themfrom dangers or threats in a defined time period. Beside this their main feature in which they arerunning their enterprise is that senior employees of selected firm is also very responsible towardstheir job role and always try to take care of their customers on their personal level by consideringnecessary elements. Thus, it has been understood that corporate team of European marketplaceconsult experienced team of ultimate security in order to resolve their business problems in aminimum time period by understanding the roles or responsibilities of various external orinternal components(Heidenreichand et.al., 2011). Therefore, this enterprise is act as a one ofthe suitable company for defending other competitors from losses by assessing necessary risk.Instead of this, few indispensable motive of an organization is described as follows:-Offers security facilities to various suppliers in order defend then from dangers.Forecast future risk or uncertainty with the use of several equipments.Analyse necessary factors for understanding the influence of changes on an enterprise.1
Identify the weakness of an association with the help of different elements.Secure society from disaster by conducting various awareness programmes or sessions.Aids an association from various threatening situations so that they can attain their setobjectives or goals by satisfying consumers needs or demands.Hence, it has been analysed that “ultimate security” is one of the mind blowingorganization which plays a major role in defending entire corporate society from dangerouscircumstances by making them feel more secure. It means they provide various protectionfacilities by assisting them towards corrective path.Consultation and communication activities taking place while planning processRisk assessment is not an easy task due to its high level of complexity or broad conceptwhich requires specialist advice with an effective planning process by considering necessaryelements that plays a major role in analysis process. In fact, an appropriate interaction need toimplement while understanding the level of uncertainty in“ultimate security” for getting awareabout the opinion or views of distinct employees or shareholders (Zabeoand et. al., 2011). Alongwith this it is essential to make plans according to societal demand for satisfying their desires.Initial motive of assessment process is to identify the get update about the objectives of severalstakeholders in an enterprise. Thus an appropriate description of shareholder is describing asfollows:-StakeholderRoleAgenda for risksFinance directorTheir first or foremost liability is toreserve funds for overall enterprise bysafeguarding the company profits withthe consideration of necessaryexpenditure. Along with this responsiblefor allocating capital to otherdepartments of an enterprise in order torun their business entity.Initial motive is to acquire maximumprofit after allocating minimum fundsto every section of an association.SuppliersAn individuals those who areinvolving in offering necessary rawmaterials to other organizations formaking a finished goods in order toTheir main agenda is to facilitatemanufacturer while designing theirproducts for gaining maximum benefits bycharging high price.2
sell it further. Moreover, aids inconverting input into output byproviding necessary orstandardized materials.EmployeesEmployees are consider as one of theindispensable asset for everyorganization either small or largebecause they responsible to manageentire business activities in order toattain enterprise goals (Heidenreichand et. al., 2014). Along with this,they are consider as representative ofcompanies because they are liable topresent company overview in front ofconsumers.After consider their roles orresponsibilities it has been analysedthat their major objective is to gainmaximum amount of monetarysupport from organization by servingtheir job in an appropriate manner. Infact, they believe in raising livingstandard by serving company in aethical way.Board of directorsHigher authority of an association arefalls under this category and plays amajor role in designing organizationpolicies by considering rights ofemployees. Moreover, they are liablefor making company strategyAfter considering necessary factors ithas been analysed that their mainmotive is to make effective decisionmaking process. Beside this, try toencourage employees towards theirprofessional goals by makingfriendly relations with them.Thus, it has been analysed that stakeholder analysis is an appropriate step of anassociation while planning process in order to identify the visible or invisible risk of anenterprise. Along with this it aids in decisional process by highlighting various componentswhich is indispensable to consider while making plans for enhancing company performance(Biassand et. al., 2014). Apart from this, an effective interaction is a very useful strategy whichaids in making a friendly relations with other stakeholders due to which an organization caneasily attain their set objectives or goals. However, analysis of investors is very significant fordeveloping security of an enterprise because it supports in understanding the strategies of othershareholders. Henceforth, decisions of shareholders plays a major role in managerial decisionsbecause they are also act as a indispensable tool as money or time is invested by them in an3
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