Strategic Risk Management for Windsome Name of the Student Name of the University

Running head: STRATEGIC RISK MANAGEMENT
Strategic Risk Management for Windsome
Name of the Student
Name of the University
Author’s Note:

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STRATEGIC RISK MANAGEMENT
Executive Summary
The main aim of the report is to understand the case study of Windsome. They have to
include strategic risk management in their respective business for ensuing that better
efficiency is being gained without any type of complexity. Risk management is the proper
recognition, assessment and even prioritization of different risks and threats that are followed
up through minimization, monitoring or managing the effect of risk realities for enhancement
of the opportunity potentials, through the application of economic and coordinated resources.
It is exceptionally vital in any typical business, and it lays significant foresight for returns on
the investments and projects any type of potential requirement after starting a completely new
endeavour. This report has critically discussed risk management systems and business
continuity planning with relevant details.

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STRATEGIC RISK MANAGEMENT
Table of Contents
1. Introduction............................................................................................................................3
2. Discussion..............................................................................................................................3
2.1 Brief Idea of the Case Scenario........................................................................................3
2.2 Critical Evaluation of Integration of Risk Management Systems in a Strategic Context 4
2.3 Critical Analysis of the Major Challenges of Risk Management in Windsome..............6
2.4 Critical Analysis of the Role of HSE and Employees’ wellbeing within Risk
Management Systems.............................................................................................................9
2.5 Critical Analysis of the Development, Implementation and Significance of Business
Continuity Planning with Corporate Strategy......................................................................11
3. Conclusion............................................................................................................................13
4. Recommendations................................................................................................................13
References................................................................................................................................15
Bibliography.............................................................................................................................17
Appendices...............................................................................................................................18
Appendix A..........................................................................................................................18
Appendix B..........................................................................................................................18

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STRATEGIC RISK MANAGEMENT
1. Introduction
Strategic risk management can be referred to as the significant procedure to identify,
assess as well as manage different types of risks within the organizational business strategy
like taking faster actions, as soon as these risks are being realized (Andersen and Sax 2019).
These are specific risk exposures, which subsequently impact the shareholders' values or the
organizational viability. It is the procedure to identify, assess and then manage the risks
within the corporate business strategy like undertaking fast action as soon as the risk is being
realized. Such distinct management is responsible for identifying the significant risks, their
probability and even their possible impacts. The nature and frequency of the up-gradation of
the identification of several top risks are also considered on the high level (Adams and
Setterfield 2016). Moreover, the overall influence of the risk sensitivity over liability
management as well as the financial decision is also focused on significant priority. This
report will be outlining a detailed description of strategic risk management for the case
scenario of Windsome with relevant details.
2. Discussion
2.1 Brief Idea of the Case Scenario
Windsome is a popular or significant organization, which is responsible for renting as
well as supplying a high range of higher quality apparatus for generation of power, tooling
and lifting and lifesaving within a variety of different markets from Offshore to Subsea,
renewables and onshore operation. The customers consider them as the significant parts of
this supply chain since they are dependent on them for providing access to the correct
equipment, plant and tools. The projects are required to be completed within budget and time.
Two hundred forty employees are currently working in this company, and the management
has ensured that these employees are gaining maximum satisfaction from work without much