LGV7034: The risk manager has an important role to play in an organisation’s risk management: Risk Management Individual Assignment, VUC, Malaysia

University Veritas University College (VUC)
Subject LGV7034 Risk Management Assignment

QUESTION
John Pentanol was appointed as risk manager at H&Z Company a year ago and he decided that his first task was to examine the risks that faced the company. He concluded that the company faced three major risks, which he assessed by examining the impact that would occur if the risk were to materialise.

He assessed Risk 1 as being of low potential impact as even if it materialised it would have little effect on the company’s strategy.

Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.

Risk 2 was assessed as being of medium potential impact whilst a third risk,

Risk 3, was assessed as being of very high potential impact.

When John realised the potential impact of Risk 3 materialising, he issued urgent advice to the board to withdraw from the activity that gave rise to Risk 3 being incurred. In the advice he said that the impact of Risk 3 was potentially enormous and it would be irresponsible for H&Z to continue to bear that risk.

The company commercial director, Jane Xylene, said that John Pentanol and his job at H&Z were unnecessary and that risk management was ‘very expensive for the benefits achieved’. She said that all risk managers do is to tell people what can’t be done and that they are pessimists by nature. She said she wanted to see entrepreneurial risk takers in H&Z and not risk managers who, she believed, tended to discourage enterprise. John replied that it was his job to eliminate all of the highest risks at H&Z Company. He said that all risk was bad and needed to be eliminated if possible. If it couldn’t be eliminated, he said that it should be minimised.

Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.

ANSWER ALL PARTS OF THIS QUESTION

(a) The risk manager has an important role to play in an organisation’s risk management.
Required:
(i) Describe the roles of a risk manager. (20 marks)
(ii) Assess John Pentanol’s understanding of his role. (15 marks)

(b) With reference to a risk assessment framework as appropriate, criticise John’s advice that H&Z should withdraw from the activity that incurs Risk 3. (30 marks)

(c) Jane Xylene expressed a particular view about the value of risk management in H&Z Company. She also said that she wanted to see ‘entrepreneurial risk takers’.
Required:
(i) Define ‘entrepreneurial risk’ and explain why it is important to accept entrepreneurial
risk in business organisations;
(ii) Critically evaluate Jane Xylene’s view of risk management.

Get Solution of this Assessment. Hire Experts to solve this assignment for you Before Deadline.

Get Help By Expert

Seeking assistance with your LGV7034 Risk Management Assignment? Look no further! As the premier assignment helper in Malaysia, we specialize in providing expert guidance and support for risk management assignments. Our dedicated team offers comprehensive Risk Management Assignment Help to Malaysian students, ensuring they excel in their studies. Say goodbye to academic stress and hello to success with our professional assistance.

Answer

Recent Solved Questions

Online Exam & Assignment Writing Services

70841+ Orders Delivered

4.9/5
5 Star Rating

Confidential & Secure Assignment Help For

Group Assignment Help

Online Exam -Test & Quiz

Cheapest Price Quote

Diploma & Certificate Levels

Semester & FYP Papers

Summative & Individual

GBA & Reflective

Last Minute Assistance

Sample Assignment Download

MGT646 Quantitative Research Methods Assignment Answer Malaysia
MGT646 Quantitative Research Methods is a course that covers a range of topics related to quantitative research. Students will learn about different research designs, data collection methods, and statistical analysis…
Business
BIO565 Comparative Biology Of Reproduction UITM Assignment Answer Malaysia
The BIO565 Comparative Biology of Reproduction course at UITM (Universiti Teknologi MARA) in Malaysia offers a comprehensive study of the reproductive systems in both animals and humans. It covers the…
Science

UP TO 15 % DISCOUNT

Instant Paper Writing Services by Native Malaysia Writers

Plagiarism Free Solutions
100% Original Work
24*7 Online Assistance
Native PhD Experts
Hire a Writer Now