Risk Management Assessment Report: Ultimate Security - Part 1

This report provides a risk management assessment for Ultimate Security, a UK-based organization. The assessment begins with a company overview and explores stakeholder consultation and communication during the planning process. It then delves into organizational risk assessment, including PESTLE and SWOT analyses to identify macro and micro factors influencing the company. The report further designs a risk register to help the company understand and manage potential threats. The report highlights the roles of various stakeholders like finance directors, suppliers, employees, and board of directors. The document emphasizes the importance of effective communication and analysis in risk management, providing insights into how Ultimate Security can mitigate potential risks and achieve its objectives. The assessment also covers the importance of identifying and managing both internal and external factors that can impact the company's performance. The document concludes by emphasizing the significance of proactive risk management for the organization's success.

RISK MANAGEMENT
ASSESSMENT (PART 1)

INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Company overview.....................................................................................................................1
Consultation and communication activities taking place while planning process......................2
TASK 2............................................................................................................................................4
Assessment of organizational risk...............................................................................................4
TASK 3..........................................................................................................................................11
Design a risk register.................................................................................................................11
CONCLUSION..............................................................................................................................20
REFERENCES..............................................................................................................................22
APPENDIX....................................................................................................................................23

INTRODUCTION
Risk is a term which means potentiality of acquiring or losing something valuable and
consider 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 in
an organization or either in future (Higgins and Field, 2012). Ultimate security is one of the
famous organization in UK whose main objective is to defend common people from any disaster
either politically, legally and so on. Thus, assignment is going to highlight the various roles and
responsibilities 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 this
project in order to understand effect of these components on company performance.
Furthermore, report is also designing an effective register of risk assessment so that an
association can easily get aware about the level of dangers encountering by an enterprise while
running their business operations.
TASK 1
Company overview
Ultimate security is one of the leading organization in London by almost 2000
experienced or talented employees at around 200 locations or more than this. In fact, their first
or foremost objective is to make their customers feel comfortable or secure by protecting them
from dangers or threats in a defined time period. Beside this their main feature in which they are
running their enterprise is that senior employees of selected firm is also very responsible towards
their job role and always try to take care of their customers on their personal level by considering
necessary elements. Thus, it has been understood that corporate team of European marketplace
consult experienced team of ultimate security in order to resolve their business problems in a
minimum time period by understanding the roles or responsibilities of various external or
internal components ( Heidenreich and et. al., 2011) . Therefore, this enterprise is act as a one of
the 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.
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 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 set
objectives or goals by satisfying consumers needs or demands.
Hence, it has been analysed that “ultimate security” is one of the mind blowing
organization which plays a major role in defending entire corporate society from dangerous
circumstances by making them feel more secure. It means they provide various protection
facilities by assisting them towards corrective path.
Consultation and communication activities taking place while planning process
Risk assessment is not an easy task due to its high level of complexity or broad concept
which requires specialist advice with an effective planning process by considering necessary
elements that plays a major role in analysis process. In fact, an appropriate interaction need to
implement while understanding the level of uncertainty in “ultimate security” for getting aware
about the opinion or views of distinct employees or shareholders (Zabeo and et. al., 2011). Along
with 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 several
stakeholders in an enterprise. Thus an appropriate description of shareholder is describing as
follows:-
Stakeholder Role Agenda for risks
Finance director Their first or foremost liability is to
reserve funds for overall enterprise by
safeguarding the company profits with
the consideration of necessary
expenditure. Along with this responsible
for allocating capital to other
departments of an enterprise in order to
run their business entity.
Initial motive is to acquire maximum
profit after allocating minimum funds
to every section of an association.
Suppliers An individuals those who are
involving in offering necessary raw
materials to other organizations for
making a finished goods in order to
Their main agenda is to facilitate
manufacturer while designing their
products for gaining maximum benefits by
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sell it further. Moreover, aids in
converting input into output by
providing necessary or
standardized materials.
charging high price.
Employees Employees are consider as one of the
indispensable asset for every
organization either small or large
because they responsible to manage
entire business activities in order to
attain enterprise goals (Heidenreich
and et. al., 2014). Along with this,
they are consider as representative of
companies because they are liable to
present company overview in front of
consumers.
After consider their roles or
responsibilities it has been analysed
that their major objective is to gain
maximum amount of monetary
support from organization by serving
their job in an appropriate manner.
In fact, they believe in raising living
standard by serving company in a
ethical way.
Board of directors Higher authority of an association are
falls under this category and plays a
major role in designing organization
policies by considering rights of
employees. Moreover, they are liable
for making company strategy
After considering necessary factors it
has been analysed that their main
motive is to make effective decision
making process. Beside this, try to
encourage employees towards their
professional goals by making
friendly relations with them.
Thus, it has been analysed that stakeholder analysis is an appropriate step of an
association while planning process in order to identify the visible or invisible risk of an
enterprise. Along with this it aids in decisional process by highlighting various components
which is indispensable to consider while making plans for enhancing company performance
(Biass and et. al., 2014). Apart from this, an effective interaction is a very useful strategy which
aids in making a friendly relations with other stakeholders due to which an organization can
easily attain their set objectives or goals. However, analysis of investors is very significant for
developing security of an enterprise because it supports in understanding the strategies of other
shareholders. Henceforth, decisions of shareholders plays a major role in managerial decisions
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because they are also act as a indispensable tool as money or time is invested by them in an
enterprise. But sometime risk is also occurred due to decisions of stakeholders or any other
factors. Additionally, shareholders plays a very crucial role in structure designing of an
enterprise because they are also having their shares in an association.
It has been observed that participation of stakeholders is take place by enforcing them to
express their opinions while decision making process for effective judgement at workplace.
Along with this, board of directors needs to consult them while introducing products at
marketplace for acquiring confidence or surety of shareholders also.
Instead of all this ultimate security is an appropriate enterprise which is useful for
defending rights of employees as well as entire organization from several threats or
organizational risk. Therefore, above table is very helpful for company while getting aware about
the necessary roles or responsibilities of distinct partners of an association and risk which might
be occurred due to their actions. Hence, an organization needs to adopt various methods for
analysing requirements of distinct stakeholders by attaining set goals or targets in a defined time
periods ( Taslakian, Sebaaly and Al-Kutoubi, 2016). Thus , it is essential for organization to
assess their company risk before making any plans or strategies in order to reduce it as soon as
possible as well as aids in preventing resources from damages. Along with this it aids in
controlling expenditure by acquiring maximum return on their investment. Thus ultimate security
is an appropriate organization which plays a major role in managing all these activities in an
effective manner by analysing hidden factors in more deeper sense for protecting company from
any kind of exploitative task.
TASK 2
Assessment of organizational risk
Risk assessment is an appropriate process of forecasting current and future business
uncertainty in order to minimize it as soon as possible with the help of suitable methods. Thus, it
is essential to consider various necessary factors for determining several organizational risk
which is described as follows:-
 PESTLE analysis:- First or foremost components is that an enterprise need to assess the
macro factors in an appropriate manner.
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 SWOT assessment:- Identifies the internal hidden factors or risk that influence success
of an enterprise.
Thus an effective description of micro and macro factors is going to highlight as follows:-
Political Governing bodies of a nation are responsible to make distinct norms or
fundamental rules and regulations which is followed by entire corporate
world. Thus one of the major risk which is identified by ultimate security is
that changes in rules of advisory bodies as it automatically affects the policies
of an association ( Xiang and et. al., 2014). Along with this, it will restrict the
company while performing their business such as; trading across international
boundaries, exchange of goods across borders and various other activities that
will have a greater impact on a company performance. Hence, it act as a major
risk for an organization and not easy to control.
Economic Emergence of inflation or deflation creates a major economical risk for
managerial team of an enterprise because it affects their marketing strategy
and somehow they get failed in acquiring maximum revenue in their
investment. Moreover, fluctuation in currency rate is identifies as a major or
drastic problem for an association as it may influence their future contracts in
various manner. Hence, uncertainty or any changes in economical factors
affects the performance of an association as well as maximize their company
risk by reducing their profits.
Social Common people or entire community act as a major components for overall
organization because they are final users of finished goods. Thus , it is
indispensable to understand the choice or preferences of different domestic as
well as foreign clients in order to design products as per their taste for gaining
their attention. Moreover, social changes have a greater impact on
organization due to which it act as a one of the leading risk that will influence
overall strategy of an association.
Technological It has been analysed that number of advanced technology get emerges at
marketplace which aids employees while performing their business
operations. Along with this supports in accomplishing task or organizational
activities in a minimum time period. But after considering necessary
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information it is understood that handling or managing of modern equipments
is not an easy task because it requires lots of experience, talent, knowledge as
well as skills. Moreover, usage of advanced technology creates a major risk
for organization that is unskilled employees cant able to regulate this which
will create a maximum chances of injuries and accidents. Hence, accidental
risks are identified which affects the employees well beings or health.
Legal
(Legislative
issues)
Legitimate bodies of a European bodies is responsible for making different
acts in order to create a surrounding free from any discrimination and
exploitative activities. Moreover, their main objective is to reduce fraudulent
activities or crimes by amending various useful acts. Hence, they have the
authority to modify any current laws which affects the policies of selected
firm. As a result it influence the company strategies and maximize the work
load of an enterprise in order to fulfils necessary terms or conditions for
attaining organizational goals ( Ekener-Petersen and Finnveden, 2013).
Environmental Resources are one of the significant assets for success or development of an
enterprise because entire business activities are fully depend upon necessary
factors. For example; employees, plant and machinery, money, land or
building, raw material and so on. Thus, it is essential to arrange all the
necessary resources in order to control shortage of indispensable factors. But
if an organization get failed in arranging things then it will influence their
goals attainment. Along with this, managerial team of an association cant able
to forecast environmental issues such as; natural disasters like floods, tsunami,
draught and various other risk which is not managed by organization.
Hence, at last it has been analysed that the above mentioned risks are occurred due to
fluctuations in any one of the factors which indirectly affects the company performance and
create a problematic situation for an enterprise. Therefore, it is indispensable to assess the risk in
order to plan their company strategy as per changes as well as to prepare themselves so that they
can deal with several uncertain circumstances. Additionally, managers of ultimate security needs
to identify various risk management solution at workplace such as; reformation in current policy,
provide training or development session to several employees for encouraging them towards
methods of handling complex situation as well as attentive nature towards improvement.
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Apart from this SWOT analysis is another factors which aids in understanding the
internal level of risk that is going to highlighted as underneath:-
Strength :- Identified the hidden potentiality
of an organization . Stakeholders invest their
money or various other things that is seen as a
major potentiality of an enterprise.
 Get succeeded in acquiring attention of
millions of clients with their effective
strategies.
 On time delivery aids in gaining trust or
loyalty of various customers.
 Coordinative nature of employees by
supporting each other at the time of
requirement.
 Effective structure of an association.
 Managers are also responsible towards
their obligation without transferring
their duties on others.
Weakness :- Drawbacks of selected firm due to
which they get failed in attaining their set
objectives or goals.
 Lack of effective communication
between higher authority and lower
level creates a misunderstanding
between them.
 Disturbing environment have a major
limitation of an association because it
may hamper the work of employees in
various manner.
 Absence of skilled or knowledgeable
employees.
Opportunities:- Golden chances of uplifting
entire association.
 Introduction of various impressive
tools or techniques of running business
operations.
 Splendid or advanced methods of
promoting products across
international boundaries.
 Several modes of transferring goods or
services from one place to another and
suppliers to customers.
Threats:- Dangers which is faced by an
enterprise.
 Changes in customers taste or
preferences is a major risk for
organization.
 Introduction of any close substitutes.
 Changes in current trends.
Thus above explained internal assessment aids in understanding the hidden factors of an
association which may act as a risk for an enterprise if it is properly managed or regulated.
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Instead of all this elements few other risk or uncertainty which is identified is going to mentioned
below:-
1. Reformation in consumer taste:- According to this term it is analysed that customers
preferences always get changes because they believe in adopting something new in order
to cope up with modern world ( Etzel and Balk, 2011). It means an organization need to
design various attractive products or services as per consumer demands. Thus, it is
essential to make plans according to client requirement in order to overcome this risk in
minimum time period.2. Introduction of close substitutes:- Number of foreign companies are coming with
different innovative ideas with creative goods for acquiring return on their investment.
Therefore to handle this risk an organization need to design various creative items by
considering necessary choice or taste of consumers.3. Modification in recent trends:- Changes are a part of life which occurs due to
modernization of world in order to capture the attention of millions of clients. In fact it is
not easy to cope up with current advanced trends because it get modified according to
societal demand as well as due to fluctuation in various internal or external factors.4. Fluctuation in market rate :- Norms, rules and regulations of a nation always get
changes due to its affects the currency rate. As a result it create a major problem for those
organization who are engaging in a future agreements because it may influence their
profit level due to minimization of exchange rate ( Henderson and et. al., 2011).5. Changes in political rules:- As per this element it has been analysed that beliefs or
norms of governing bodies have a greater impact on a success of an association but
sometime it create a major risky situation in various manner. For example; changes in
rules affects the business relations and sometime it will create a major problem for them.6. Occurrence of sudden disaster:- Natural calamites are consider as a one of the uncertain
risk which is impossible to predict and no one can able to control or regulate it.
Therefore, various disaster are responsible for creating a risky situation for entire
association by sudden attack. In fact, sometime they get failed in overcoming these
problems which might be occurred due to emergence of natural disaster.
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7. Shortage of resources:- Assets are indispensable for success or development of an
enterprise because entire business operations are run with the help of necessary resources.
Thus, if there is absence of required assets then it may hamper the work of an enterprise.8. Lack of skilled employees:- Ultimate security is having a very latest technology with
advanced features which is not easy to handled or managed. Therefore it requires
specialist or skilled employees in order to manage those modern equipments in an
appropriate manner without facing any accidental situation. Thus, if employees are not
fully talented then they there is chances of injury or any dangerous effect.9. Restriction by legitimate bodies:- Legal team of a nation are amending a various kinds of
laws , rules and regulation which sometime restrict the various business to expand their
organization across international boundaries. Along with this , it is analysed that
restriction by legal department is also one of the popular risk for overall corporate world
because it requires fulfilment of several number of formal terms and conditions.
10. Transportation risk: - It is not that much easy to transfer a goods or services from one
place to another because in transferring process numerous of risk is identifies such as;
damaging of products, chances of lost , scratches and so on.
Thus it has been understood that above ten risks are identified at workplace while running a
business entity due to their maximum roles or responsibilities. Therefore, an association need to
make a an effective plan to overcome these risk or uncertain situation by considering necessary
facts or figures ( Li and et. al., 2014).
1. Customer taste Consider consumer choices
2. Political rules or regulations Fulfils necessary terms
3. Legitimate bodies Consider legal formalities
4. Close substitutes Introduce different products
5. Resources Arrangement of necessary
assets
6. Absence of skilled employees Appoint talented workers
7. Natural disaster Make an effective strategy
8. Delivering risk Arranging convenience
facilities
9. Restriction by legal bodies Fulfils necessary terms and
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