Risk Management in Organizations

Running head: RISK MANAGEMENT IN ORGANIZATIONS
RISK MANAGEMENT IN ORGANIZATIONS
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1RISK MANAGEMENT IN ORGANIZATIONS
Executive summary
The report aims at evaluating the different internal and external risks that are faced by
organizations and the compliances that might be undertaken by the same. On the other hand, the
research also enumerates the role played by the stakeholders in the content of risk assessment
and resolution through the enumeration of a communication plan. The purpose of undertaking
the research is to identify and analyze the risk and thereby understand the compliances of the
same.

2RISK MANAGEMENT IN ORGANIZATIONS
Table of Contents
1. Introduction..................................................................................................................................3
2. Identification and analysis of compliance requirements and risks..............................................3
2.1 Internal risks and compliance................................................................................................3
2.1.1 Password protection........................................................................................................4
2.1.2 Virus protection..............................................................................................................5
2.2 External risks and compliance...............................................................................................6
2.2.1 Health and Safety at Work Act 2015..............................................................................6
2.2.2 Wages Protection Act 1983............................................................................................8
3. Communication with the key stakeholders..................................................................................9
4. Conclusion.................................................................................................................................11
References......................................................................................................................................12

3RISK MANAGEMENT IN ORGANIZATIONS
1. Introduction
The processes that are framed by organizations are liable to face different uncertainties
while operating as per the objectives. The induction of GRC (Governance, Risk and Compliance)
helps the organizations in upholding the efficacy of the operations that are undertaken by the
same through corporate governance, Enterprise Risk Management (ERM) and corporate
compliance (Chalmers, 2013). The regulations that are faced by the organizations also guides the
same towards compliance and governance. The key changes that are commenced by
organizations depends on the level of risk that might be encountered by the same while operating
in different market scenarios.
The report aims at identifying the different internal and external risks that might be faced
by organizations and thereby analyze the compliances for the same. On the other hand, the
research also enumerates a communication plan, which might be undertaken by the organization
in order to make the stakeholders aware of the risk and its compliance.
2. Identification and analysis of compliance requirements and risks
The organizations encounter different uncertainties while undertaking the smooth
functioning of the venture. However, the corporate governance strategies that are framed by the
organization help the same in maintaining the efficacy of the operations through risk avoidance
and compliance. The section aims at identifying the internal and external risks that might be
faced by the organizations and the compliances that might be undertaken by the same in order to
mitigate the risks that are encountered by the same.