BusinessRiskAssessmentforABCLtd.Inaninterdependent,fast-movingworld,organizationsareincreasinglyconfrontedbyrisksthatarecomplexinnatureandglobalinconsequence.Suchriskscanbedifficulttoanticipateandrespondto,evenforthemostseasonedbusinessleadersWhatcanwedotomakeourcompanymoreresilienttosignificantandunpredictablerisks?Businessesalloverhaveprioritiesbasedontheirownpositioncomparedwiththemarketaswellasthemarketitself.Attentionisnormallyfocusedontotheareasthatthecompanyperceivestohaveahigherbusinessrisk.Howeverthisisnotsowellstructuredandveryoften,businessrisksarenotproperlyvisualisedorunderstood,especiallyasthereisalackofformalityinunderstandingthem.Thereisalsoadangerofnotrealisingwhicharethegreatestrisksandwhichofthemmustbefocuseduponbytheorganisation.Inordertoimprovebusinessdecisionmaking,RiskManagementtodayisrapidlygainingacceptanceandishelpingorganisationsmanagetheirbusinessesbetter,whichintoday’shypercompetitiveenvironmentisanimperative.2WelcometoResultsofRiskAssessmentTraining&workshopsResilienceisthethemethatrunsthroughoutthisreport.Itseemsanobviousonewhencontemplatingtheexternalnatureofglobalrisksbecausetheyarebeyondanyorganization’sornation’scapacitytomanageormitigateonitsown.Andyetglobalrisksareoftendiminished,orevenignored,incurrententerpriseriskmanagement.Firstare“preventable”risks,suchasbreakdownsinprocessesandmistakesbyemployees.Secondare“strategic”risks,whichacompanyundertakesvoluntarily,havingweighedthemagainstthepotentialrewards.Thirdare“external”risks,whichare“globalrisks”.Theglobaleconomicdownturnhasputanemphasisonriskmanagementandcorporatesalloverarerampinguptheirunderstandingandimplementationofriskmanagementwithintheirbusinesses.Governmentsandregulatorsalsohaveunderstoodtheimportanceandareincreasinglyaddressingthisthroughstricterandenhancedregulation.ABCLtd.hasdecidedtoembedriskmanagementprincipleswithinitsbusinessprocesseswiththekeyobjectivesofEnsuringproactivemanagementofstrategicrisksthrougheffectiveimplementationofariskmanagementframeworkinlinewithISO31000.Asapreludetotheprocess,ABCLtd.hadconductedaBRISKassessmentworkshoponxxAugustforstrategicriskidentificationandassessment&thereportbriefsabouttheoutcomeofthisriskassessment.VenkataramArabolu,ManagingDirectorOrganizationsthatsucceed,dosobecausetheyarebestabletooptimizetheriskandrewardequationforbothstrategicandOperationalissues.TheFivePointRiskManagement1.IdentifyingRisks2.QuantifyingRisks3.FormulatingStrategiestoContaintheIdentifiedRisks4.ImplementingStrategies5.ContinuousMonitoringofRiskContainmentTasksdesan(iAnorgamandescribestomscribesthecondtheresobeusedtoTypicacompprocedurespoincludinganization’nagementhowitintmanageriemanagemomponentsapproourcesthaomanagelmanagemponentsincures,praconsibilitiesactitheirsequandtimC’srisktplantendsisk.Itments,theoach,atwillerisk.mentcludetices,s,andvitiesuenceming)Contents4ORGBRISMETNOTINFOC0-EREMNEXGANISATIONSKTHODOLOGYTEWORTHYORMATIONREFFICIENTOFMARKSONFIXTSTEPINISMINFORMATIYOBSERVATIORISKIDENTIFFVARIATIONNDINGSMSPROGRAMONONSFICATIONNM5AboutABCLTD.OrganisationName:ABCLTD.Address:ABCLTD.Contactperson:Mr.XXXXXXXXXTelephonenumber:(+91)XXXXXXXXXXEmail:XXXXXX@XXXXX.comDate:Aug,2014OverviewABCLTD.,India’sfourthlargestprivatesectorCompany,istheoutcomeoftheprofessional&entrepreneurialcommitment,vision&strategyofitsFounders.Moreinformationneedtobeputuphere...
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