BSBRSK501 Manage Risk: In-depth Analysis & Solutions to Assessments

This document presents a comprehensive solution for the BSBRSK501 Manage Risk assessment, encompassing both knowledge evidence and performance evidence tasks. The knowledge evidence section addresses key principles of risk management standards in Australia, referencing the AS/NZS ISO 31000:2009 standard. It includes an analysis of the Adidas case study, examining legislative and regulatory considerations, risk and opportunity definitions, and organizational policies for risk management. The performance evidence section involves a scenario where the student acts as a Business Manager at Adidas, managing business risks resulting from adverse public relations, specifically addressing an Oxfam article. Desklib offers a platform where students can access this document alongside a wealth of other solved assignments and past papers.

Version date Version
Page 1 of 22 DOCUMENT NAME: BSBRSK501 Assessment
1 and 2
1 May 2018 AHMI—BSBRSK501-
version May 2018
CRICOS CODE:
03595K
PROVIDER NUMBER: 70252
ASSESSMENT COVER SHEET
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BSBRSK501 Manage Risk
ASSESSMENT 1 and 2

BSBRSK501 Manage Risk
OVERALL ASSESSMENT RESULT
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BSBRSK501 Manage Risk
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BSBRSK501 Manage Risk
ASSESSMENT INSTRUCTIONS AND
STUDENT DECLARATION
STUDENTS MUST READ AND SIGN DECLARATION
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Assessment 1
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Student’s Signature: _________________________________ Date _______________________
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BSBRSK501 Manage Risk
ASSESSMENT TASK 1:
KNOWLEDGE EVIDENCE
APPLIED SHORT ANSWER QUESTIONS
INSTRUCTIONS
1. You are required to answer all questions.
2. All questions are of equal weight.
3. Answer all questions in the spaces provided.
4. Answer all questions by referring to your learner guide and case study material as
provided and by undertaking your own research.
ASSESSMENT SUBMISSION REQUIREMENTS
 Your assessment must be typed in Arial font size 12 only.
 You must provide your completed assessment in one document with an assessment
cover page
 You are required to format your document including spell-check and indicate each
Task answer [e.g. Task 1 (a.) then the answer, Task 1 (b.) then the answer etc.]
according to this Assessment Tool Task requirement.
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BSBRSK501 Manage Risk
KNOWLEDGE EVIDENCE APPLIED SHORT ANSWER QUESTIONS.
Q1.By referring to page 4 of the introduction to the document: 31000-2009 Risk Standards
Australia Guidelines, outline 1 primary purpose of current risk management standard in
Australia: AS/NZS ISO 31000:2009 Risk Management Standard.
Q2.By referring to the document: Art_RiskAnalysis_ISO31000, List 11 key principles of the
current risk management standards in Australia.
Answer questions 3 – 12 with reference to the Adidas Case Study – by using the support
material provided.
Q3.What key legislative and regulatory areas must Adidas management take into account
when developing and implementing their Group Risk Management Policy?
The Adidas Company need to take into account the Fair Work Act 2009 (Cth) under which it is
important for the companies to pay the minimum required wages to the employees to keep up
the health and safety of the employees working in the firm. The Adidas Company need to
implement the Contract law to uplift the brand image that will help to safeguard the worker
from being exploited at the hands of the company.
Q4.How does Adidas define Risk and opportunity?
Adidas defines risk as the threat to the brand image and the loss of the potential customers due to
the negative impact in the brand image. The sales rate of the Adidas has also decreased owing
to the fact that it does not have a good track record in terms of upholding the trade union
rights. The opportunities defined by the Adidas Company taking a positive step towards
signing the new Freedom of Association Protocol in the Indonesia.
Q5. In what Report does Adidas summarise the most important of these risks and
opportunities?
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BSBRSK501 Manage Risk
Adidas summarizes the risk and opportunities in the Risk and Opportunity report that explores
and develops opportunities to sustain the earnings and give a long term success to the
company. The report also supports the risk and opportunity management principles of the
Adidas Company.
Q6.In what three main categories does Adidas management consider risk?
The three main categories that Adidas management needs to consider risk are mainly the lack of
proper system and structure, the decision making body and keeping up the transparency in the
organization.
Q7. What is the primary purpose of the Adidas organisational policies, procedures and
processes for risk management?
The organizational policies and procedures have helped Adidas to maintain the moral set of
principles that will help to uplift its brand image. The Company has started to dedicate itself
towards providing better remuneration, improvement in the work culture. The Company
administration has developed certain strategies for the screening of the employees in the firm.
Q8.The policies and procedures designed by Adidas to facilitate effective risk and
opportunity management is held in what business system?
The administration of the company has developed a proper administrative framework that will
help the company to deal with the various hazards in the Company related to the employee
issues and low wages. The company has further developed a body named the COSO board that
aims at maintaining the proper laws and regulations in the Company (adidas-group.com).
Q9. What is the key objective of this system?
The system helps to drive the business of the Company and also evaluates the risks that remain in
the company. The strategy to improve the hazards highlights the standards as well as the
fundamental obligations that needs to be maintained in the Company
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BSBRSK501 Manage Risk
Q10. How does Adidas management make available to employees the Group Risk
Management Policy?
The Adidas makes its group risk management policy available to the employees by using the
appropriate fitting level of administration that helps to improve the transparency among the
employees and the managers. Further the company has developed Social and Welfare Affairs
(SEA) that has helped to maintain the hazards against the employees and Organization.
Q11. What is the key purpose of the Group Risk Management Policy?
The key purpose of the Group Risk management Policy is to make the Company aware of the
dangers and threats that may hamper the brand image of the organization. The policy helps the
company to set the reasonable pay standards for the employees so that they do not leave the
organization Chiambaretto et al., (2016). It has also helped the Company to deal with the
environmental factors that harm the organization.
Q12.By referring to the Adidas Risk and Opportunity Report 2017,
Identify 1 key feature of system policies as they refer to: Responsibility andRisk and
opportunity identification.
The risk and opportunity report states that Adidas unfaltering nature of the budget report and it
also further identifies the internal routine of setting up the cash related report that has been
able to meet the accounting benchmarks of the organization (Fournier & Srinivasan, 2018).
The report further states that there must be a well organized system for dealing with the risks
and threats possessed by the organization. The report has been able to detect the vulnerabilities
of the organization and it has also helped the Company to make certain strategies for the risk
management.
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BSBRSK501 Manage Risk
SSESSMENT TASK 1:
KNOWLEDGE EVIDENCE
APPLIED SHORT ANSWER QUESTIONS
ASSESSOR MARKING SHEET
Question satisfactory Not yet
satisfactory
Question satisfactory Not yet
satisfactory
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Assessment 1
Outcome
Assessor sign Date
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BSBRSK501 Manage Risk
Student Assessment Feedback Form
To be completed by students at the end of each assessment
Dear Student
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BSBRSK501 Manage Risk
ASSESSMENT TASK 2: PERFORMANCE EVIDENCE
INSTRUCTIONS
1. You are required to undertake all assessment tasks.
2. All tasks are of equal weight.
3. Answer all tasks using the templates and forms provided.
4. Answer by referring to your learner guide and case study material as provided and by
undertaking your own research.
ASSESSMENT SUBMISSION REQUIREMENTS
 Your assessment must be typed in Arial font size 12 only.
 You must provide your completed assessment in one document with an assessment
cover page
 You are required to format your document including spell-check and indicate each
Task answer [e.g. Task 1 (a.) then the answer, Task 1 (b.) then the answer etc.]
according to this Assessment Tool Task requirement.
SCENARIO
You work as a Business Manager at Adidas – NSW Head Office in the Public Relations
Department.
This department is managed by the Public Relations Manager and you work in a team of 5
Business Managers
Your role as Business Manager in the Public Relations Department includes the requirement
to identify and manage business risk that results from adverse public relations
Recently Oxfam (Australia) released an article over the internet – this article is re-produced
below
Oxfam Australia is an organisation that is reportedly dedicated to fighting social injustice
around the world – especially social injustice which is created by businesses
Adidas: So what’s the problem with adidas? July 2016
Thousands of workers endure poverty wages and harsh sweatshop-like conditions to make
adidas their coveted sports shoes.
Adidas also don’t have a good track record in relation to upholding trade union rights.
We have been in constant correspondence with adidas since 2006 asking that they uphold the
rights of their workers.
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BSBRSK501 Manage Risk
So what’s the solution?
Better wages
Workers require a living wage, which is one that allows them to meet the basic needs of a family
after working a full-time working week without overtime. Adidas won’t commit to a living wage for
its workers.
But it will commit to paying already high earning sport stars millions of dollars to endorse their
products.
The right to form trade unions
Adidas gets much of its gear made in countries and free trade zones where it is illegal or
extremely difficult for workers to organise into unions. Without this united structure it is near
impossible for individual workers to ask for improved conditions without fear of retribution.
Adidas has taken a positive step by signing onto the new Freedom of Association Protocol in
Indonesia. Adidas was an active participant in negotiations with Indonesian unions and supplier
factories to develop the Freedom of Association Protocol. The Protocol, which Adidas signed
onto in June 2011, is already having positive impacts in a number of supplier factories. But
Adidas must work hard to ensure that the Protocol is implemented at the factory level throughout
its supply chain.
A confidential complaints structure
When workers suffer sexual harassment, intimidation, violence or other human rights violations
they need to be able to access a confidential complaints mechanism, and they need those
complaints to be taken seriously and handled sensitively. In response to public pressure, adidas
has made some effort to establish complaint mechanisms in some factories, but most adidas
workers don’t have access to a complaint mechanism which they have reason to trust.
Ban short-term contracts
Adidas moves its production where it likes when it likes and does not ban or discourage short-
term contracts for its workers. So when it leaves an area those workers on short-term contracts
are left with nothing.
Incentives for respecting workers’ rights
Adidas should offer meaningful incentives to factories that respect workers’ rights, particularly
workers’ right to organise trade unions. Without genuine incentives human rights abuses will
continue
https://www.oxfam.org.au/what-we-do/ethical-trading-and-business/workers-rights-2/adidas/
Your Department Manager has requested that you idenitfy and manage one of the possible
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