Organization Risk Management for Smith Brown Chemicals

This presentation discusses the hazards and risks at Smith Brown Chemicals and provides a risk management analysis. It also suggests operative risk control procedures and an action plan for implementing them. The limitations of the study are also mentioned.

Organization Risk Management
Smith Brown Chemicals
Presented by
(Name of Student)

Backgrounds
• Workplace hazard primarily implies a situation within an
organization that has caused serious injury and health effect.
• Due to the emergence of substance material, chemicals,
liquids, solvents in the workplace people may have to face
health issue if these materials are not dealt with scientific
technique (McNeilFrey and Embrechts 2015).
• After facing extreme workplace hazards, organizations have to
face immense uncertainties and risk factors. Business experts
have to face challenges in maintaining their image and
reputation.

Identify and describe hazards and
risks at SBC
• Workers are not professionally trained to deal with the chemical
materials such as solvents, acids and other corrosives and detergents
• Workplace is not constituted with any emergency plan and no
established process is displayed for handling injuries
• The computers handled by the organizational managers are not
password protected. As a result, entire employee details can be easily
displayed. In addition, anyone can change the financial record as per
their wish.
• The wage and superannuation record of Smith Brown Chemicals is not
well updated.
• Smith Brown Chemicals is using 30,000 liters of water every week.
Due to this wastage of water the company has faced issues for water
breaches by paying a fine of $50,000

Risk assessment and risk management
analysis
• Identify the risk factors
• Analyze the risk factors by highlighting its pros and cons
• Rank the risks as per priority basis
• Choose effective measure for reducing the risk factors

Risk Matrix Likelihood
Rare Unlikely Possible Likely Almost certain
Severe: Workplace is not
constituted with any
emergency plan
Medium Medium High Extreme Extreme
Major: Workers are not
professionally trained to deal
with the chemical materials
Low Medium Medium High Extreme
Moderate:
The computers handled by the
organizational managers are
not password protected
Low Low Medium Medium High
Minor: The wage and
superannuation record of
Smith Brown Chemicals is
not well updated
Low Low Low Medium Medium
Minimal: Smith Brown
Chemicals is wasting 30,000
liters of water every week
Low Low Low Low Low

Develop operative risk control
procedures
• Lack of professional training of the
employees in decanting chemical
materials
• Lack of proper emergency plan
• Lack of well protected password
• Wage and superannuation record is not
updated
• Wastage of water, the most essential
natural resource

How to implement risk control
procedure
In order to implement a training session within the organization
for enhancing professional skills and competency level of the
employees the business managers have to arrange a proper
training hall with necessary training equipments.
Training equipments include technological devices, hall room,
electronic utilities, and physical equipments and so on.
In addition, the human resource manager has to recruit a
professional trainer who would provide this training for
enhancing professional competency of the employees

Action plan regarding the resources,
budget and timeline
Resources required Budget Timeline (How much time the
organization should take for collecting
the resources)
Training equipments 50,000 6months
Technological devices 70,000 8months
Disposable chemical resistant clothing 10,000 6months
Emergency shower equipment 20,000 5 months
Human resource 45,000 4months
IT experts 40,000 8 months

Limitation of the study
• The study has not given in-depth overview about risk
management analysis and its impact on overcoming
organizational hazards.
• Based on the portraiture of risk matrix analysis the
study could have focused on giving some of the
major recommendations for overcoming risk factors.
• In addition, the study could have concentrated on
evaluating the role of organizational managers of
Smith Brown Chemicals in rendering the success of
business.

Reference List
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of risk management practices on the performance of new product development
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• Olson, D.L. and Wu, D.D., 2017. Data Mining Models and Enterprise Risk Management.
In Enterprise Risk Management Models (pp. 119-132). Springer, Berlin, Heidelberg.
• Olson, D.L. and Wu, D.D., 2017. Data Mining Models and Enterprise Risk Management.
In Enterprise Risk Management Models (pp. 119-132). Springer, Berlin, Heidelberg.
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