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This document discusses efficient frontier analysis and strategic risk management. It provides context for how efficient frontier analysis can help organizations identify projects that determine appropriate risks and investments. Strategic risk management allows organizations to better understand risk across divisions to inform decision making. Quantitative financial and behavioral models are increasingly used to analyze risk portfolios. Strategic risk management creates opportunities for interaction across an organization to holistically assess risk.
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Student 1 The main intention of this framework is to support .docx
Student 1:
The main intention of this framework is to support large corporate organizations with their portfolio management and process of the risk management. The framework is able to handle insurance risk and non-insurance risk. It is suggested to use the framework within the recognized enterprise risk management correction. James Lam has defined four benefits to risk management which are as follows: handling risk is managements’ job; the instability of the earnings will be reduced by the managing risk; the shareholders’ value can be maximized with the help of managing risk; financial security and job security are promoted by the risk management (Zhou & Xu, 2018)
Handling risk is managements’ job–the duty of the management is to use the critical information of the business to manage the risk. This will lead to give transparency in managing costs and improves the understanding of the risk.
The instability of the earnings will be reduced by the managing risk–with the help of the activities of the risk management, the top companies will able to manage their earnings instability in a better way.
The shareholders’ value can be maximized with the help of managing risk–the companies can be able to increase their shareholders’ value with maximum percentage and also can be able to identify the opportunities for business optimization and risk management by using the risk based program. Volatility can be managed well and business model performance can be extended with correct information that is spread across the organization (Liang et al., 2017)
The efficient frontier will be send to the business leaders directly and they will become the holders of the risks for their respective areas of influence. The efficient frontier has to learn the language of the risk. It is fundamentally assumed that the risk transfer and lines of insurance will be modelled properly. This is significant assumption, as plain modelling foibles, internal disputes, information asymmetry and data limitations will be easily disturb the best intentions of the framework. It is very necessary to test any kind of model and if possible back test the model and involvement of different business leaders is also important to examine the results of the model. It is important to involve independent experts to question and examine the assumptions of the model (Tajani & Morano, 2017)
References
Liang, J., Zhong, M., Zeng, G., Chen, G., Hua, S., & Li, X. et al. (2017). Risk management for optimal land use planning integrating ecosystem services values: A case study in Changsha, Middle China. Science Of The Total Environment, 579(2), 1675-1682.
Tajani, F., & Morano, P. (2017). Evaluation of vacant and redundant public properties and risk control. Journal Of Property Investment & Finance, 35(1), 75-100.
Zhou, W., & Xu, Z. (2018). Portfolio selection and risk investment under the hesitant fuzzy environment. Knowledge-Based Systems, 144(2), 21-31.
Student 2:
Uses of Efficient Frontier Analysis.
Discussion- 11. How does efficient frontier analysis (EFA) dif.docx
Discussion- 1
1. How does efficient frontier analysis (EFA) differ from other forms of complex risk assessment techniques?
The issue of the selection of the risk management methods to support investment decision-making is one of the key issues discussed in the management of portfolios. The factor contributing to the development and dissemination of the risk management methods is the fact that the development of this theory, the risk of portfolios of financial institutions began to measure widely using the Markowitz portfolio selection model. Currently, this problem has been solved, since his designation used linear programming. It cannot be missed with these two facts. The indication of such a relationship, as well as its characteristics are the main purpose of the publication, in which there was not only used the study literature. The efficient frontier can be defined as the image of a set of portfolios that provide the maximum return for each level of risk or minimal risk for any level of return. In addition, this measure brings important details in the development area of portfolios’ management of financial instruments, on the grounds that it considers the possibility of the investor’s bankruptcy and may be regarded as a dynamic measurement of the risk (Bali T.G).
2. What limitations might an analyst encounter with EFA?
The financial equivalent of racing cars if They're one of the most touted, yet most misunderstood and misused, tools in the field of financial planning. Understanding the nature of an efficient frontier model and the assumptions on which it relies. As with a sophisticated racing car, a powerful tool in the wrong hands can be a very dangerous thing. For example, it's logical to believe that stocks will outperform bonds in the future. Efficient frontier models rely on historical data and relationships to generate the "perfect" portfolio. In my experience, many investors who use efficient frontier models are unaware of their pitfalls. These models are being marketed as solutions to the problem of portfolio construction, but they come without instructions.
3. How can efficient frontier analysis results be communicated and utilized with nonmathematical decision maker?
Communication is not a crank to be turned mindlessly, but a decision problem of its own. As we will see, there are many alternatives to consider. The analyst’s choices constitute the design of a communication plan. In ideal cases, the client is infinitely patient, unshakably invested in the problem, fully committed to finding the highest quality solutions, flexible about the process, and unwavering in confidence in the analyst’s work. In such cases, tight outlines or rambling jumbles may lead to the same outcome. Good quantitative analysis alone does not usually produce good decisions, because rarely does the analyst control all the resources required to decide and act. Decision makers and other players who influence the decision must assimilate the results of th ...
Discussion1Explaining the results of Efficient Frontier Analysis.docx
Discussion1
Explaining the results of Efficient Frontier Analysis to non-technical decision-makers
The implementation of Efficient Frontier Analysis in an organization helps the process of strategic risk management to encompass and advanced analytical technique. The outcomes derived from it can easily be acknowledged and utilised by the non-technical decision-makers of the organisation as well. With the private utilization of Efficient Frontier Analysis, the decision-maker can easily consider identifying Complex property and developing casualty risk profiles. It has been observed in the considered case study that the most convincing organizational decision-making practices to determine efficient risk management need extensive acknowledgement of the governance structure followed by the processes and the varieties of tools used in it. In addition to it, they are also subjected to be developed on the basis of the guidance and principles of ISO 31000 followed by the guidance of implementation empowered by Australian and New Zealand handbook HB 436 (Fraser, Simkins & Narvaez, 2014). The consideration of Efficient Frontier Analysis emphasizes the hierarchical roles within an internal audit function as well as the organization and risk management function.
The results of implementing Efficient Frontier Analysis depend in-depth assessment of the risk portfolio volatility followed by the pricing structure acknowledged through decision-making. Furthermore, the considered case study also explains that the implementation of Efficient Frontier Analysis also needs to analyze the insurance layering efficiency to determine the risk portfolio application in order to ensure the catastrophic loss potential within the decision-making practices of strategic risk management (Rezaeiani & Foroughi, 2018). Additionally, a business organization implementing it can also become capable of analyzing and resolving the control break down easily with the identification of risk origins, actors, causes and consequences precisely. With the help of proper strategic management, the non-technical decision-making practices can be functional through a risk appetite framework that influences risk control framework. both these further impact on the emergence of the dynamic risks followed by integrated enterprise risk profile and scenario and stress testing by enabling untapped opportunities.
Recommendations assuming the risk appetite
The notion of risk appetite is strongly aligned with risk tolerance to influence the scenario and stress testing abilities to develop an analytical framework. The fundamental purpose of this Framework is to drive multiple sets of discussions based on analytical information to help the decision-makers in determining the risk profile and lead the organization to constitute competitive opportunities. It has been observed that the risk appetite in association with the risk tolerance helps them in categorizing the risks and further reframe them as opportuniti ...
It is important to be aware of the followingMission s
It is important to be aware of the following:Mission statementVision statementGoals
These will allow you to manage and strategize to follow the company mission and vision and meet the goals.
Stakeholders – any individual or group that has a stake in the outcome of the company.Some examples:CustomersManagersEmployeesStockholdersCommunityCompetitors
WBS=Work Breakdown StructureIt is a deliverable oriented decomposition of a project into smaller components.It is similar to an organizational chart.
RAM=Responsibility Assignment MatrixThis is a chart that assigns various responsibilities to employees.It decreases confusion about job descriptions.It assists with communicating through the proper channels.
A risk analysis should be conducted on a regular basis and more frequently if conditions change.Some examples are:SWOT (Strenths, Weaknesses, Opportunities, and Threats)PEST (Political, Economical, Socio-economical, and Technology)
Once risks are identified, they should be addressed in a risk assessment plan.The plan should include:The risk.Response to risk.Potential chance the risk could occur.Potential cost of the risk occurs.
Scheduling can be a daunting task.It may be helpful to create a formal scheduling system to help manage the day to day schedule as well as overtime, sick time, vacation time, etc.Scheduling should be conducted with the budget in mind.
In larger organizations, a communication plan may be appropriate.This details:The frequency of communication with each stakeholder.The medium that will be used to communicate.The response time for returning communications.
Hale, Judith. (2007). The Performance Consultant's Fieldbook: Tools and Techniques for Improving Organizations and People (Essential Knowledge Resource). 2 ed. Washington D.C.: Pfeiffer.
The Assignment (2-3 pages):
· Identify the social problem
· Explain rational for selecting social problem
· Describe state and federal policies that impact the social problem
· Identify specific methods to address the social problems
· Explain how the agency and student can advocate to change the social problem
Week 4 Discussion 1
Influence Decision-Makers
If an organization considers its employees to be human assets, training and development represents an ongoing investment in these assets and one of the most significant investments an organization can make. Training involves employees acquiring knowledge and learning skills that they will be able to use immediately; employee development involves learning that will aid the organization and employee later in the employee’s career. Many organizations use the term learning rather than training to emphasize the point that the activities engaged in as part of this developmental process are broad based and involve much more than straightforward acquisition of manual or technical skills. Learning implies ongoing development and continuously adding to employees ‘skills and knowledge to meet the challenges the organization faces ...
15Reflection and Discussion Forum Week 3Sri Chaita
1
5
Reflection and Discussion Forum Week 3
Sri Chaitanya Patluri
University of the Cumberlands
Organizational Behavior
Dr. Johnny Chavez
Sep 07, 2021
Reflection
Motivation is defined as a set of motives or conditions that drive the behavior of individuals, organizational units, or projects. The purpose of motivation concepts is to help them focus on the primary purpose of the process and the related motives that underlie it. Once they understand motivation concepts, they can use them to motivate people and accomplish tasks. Motivation concepts help people understand why they do what they do and help them identify the steps that motivate motivation. The next step understands the steps needed to move from one problem domain to another. The theories that have been developed are generally confusing, contradictory, and contradictory to the originated objectives. The more theory that is used, the more contradictory it is to the objectives it supposedly was intended to achieve. However, it is essential to realize that more theories and theories will lead to a more consistent method of achieving objectives(Nasution, 2021).
Most organizations today know the objectives and are using organizational, motivational methods to achieve them. Organization-level factors such as human resources, compensation, and support systems influence whether an organization achieves its goals. These factors influence many factors, including the organization's performance as measured by objectives. Employee job engagement can affect managerial relationships and organizational behaviors, and the firm's overall success. It can improve compliance, employee satisfaction, better financial performance, increased employee motivation, and improved corporate image. The degree to which an organization considers its corporate environment a living environment is called corporate culture. The potential for employee empowerment and communication increases when there is corporate culture. The driving forces behind the decision-making process are the drive for performance, and both factors drive performance. The more drive for performance, the more drive for performance needs to be met. One of the significant factors that drive performance is the drive for return on investment. The second major factor that drives performance is the drive for achievement(Robbins & Judge, 2018).
Motivation plays a significant role in organizational functioning and decision-making. A good motivator's personality is a significant factor influencing their decision-making abilities. JCM utilizes opportunities to take risks in order to learn. It is essential because there is a risk associated with going beyond the requirements set for them in the job they are doing. Some employees find that adding pressure to achieve a JCM Goal of getting more done results in increased pressure to get things done and less commitment to the organization. To achieve this goal, employees must take on more responsibility and n ...
15Reflection and Discussion Forum Week 3Sri Chaita
1
5
Reflection and Discussion Forum Week 3
Sri Chaitanya Patluri
University of the Cumberlands
Organizational Behavior
Dr. Johnny Chavez
Sep 07, 2021
Reflection
Motivation is defined as a set of motives or conditions that drive the behavior of individuals, organizational units, or projects. The purpose of motivation concepts is to help them focus on the primary purpose of the process and the related motives that underlie it. Once they understand motivation concepts, they can use them to motivate people and accomplish tasks. Motivation concepts help people understand why they do what they do and help them identify the steps that motivate motivation. The next step understands the steps needed to move from one problem domain to another. The theories that have been developed are generally confusing, contradictory, and contradictory to the originated objectives. The more theory that is used, the more contradictory it is to the objectives it supposedly was intended to achieve. However, it is essential to realize that more theories and theories will lead to a more consistent method of achieving objectives(Nasution, 2021).
Most organizations today know the objectives and are using organizational, motivational methods to achieve them. Organization-level factors such as human resources, compensation, and support systems influence whether an organization achieves its goals. These factors influence many factors, including the organization's performance as measured by objectives. Employee job engagement can affect managerial relationships and organizational behaviors, and the firm's overall success. It can improve compliance, employee satisfaction, better financial performance, increased employee motivation, and improved corporate image. The degree to which an organization considers its corporate environment a living environment is called corporate culture. The potential for employee empowerment and communication increases when there is corporate culture. The driving forces behind the decision-making process are the drive for performance, and both factors drive performance. The more drive for performance, the more drive for performance needs to be met. One of the significant factors that drive performance is the drive for return on investment. The second major factor that drives performance is the drive for achievement(Robbins & Judge, 2018).
Motivation plays a significant role in organizational functioning and decision-making. A good motivator's personality is a significant factor influencing their decision-making abilities. JCM utilizes opportunities to take risks in order to learn. It is essential because there is a risk associated with going beyond the requirements set for them in the job they are doing. Some employees find that adding pressure to achieve a JCM Goal of getting more done results in increased pressure to get things done and less commitment to the organization. To achieve this goal, employees must take on more responsibility and n ...
Recommended
Student 1 The main intention of this framework is to support .docx
Student 1:
The main intention of this framework is to support large corporate organizations with their portfolio management and process of the risk management. The framework is able to handle insurance risk and non-insurance risk. It is suggested to use the framework within the recognized enterprise risk management correction. James Lam has defined four benefits to risk management which are as follows: handling risk is managements’ job; the instability of the earnings will be reduced by the managing risk; the shareholders’ value can be maximized with the help of managing risk; financial security and job security are promoted by the risk management (Zhou & Xu, 2018)
Handling risk is managements’ job–the duty of the management is to use the critical information of the business to manage the risk. This will lead to give transparency in managing costs and improves the understanding of the risk.
The instability of the earnings will be reduced by the managing risk–with the help of the activities of the risk management, the top companies will able to manage their earnings instability in a better way.
The shareholders’ value can be maximized with the help of managing risk–the companies can be able to increase their shareholders’ value with maximum percentage and also can be able to identify the opportunities for business optimization and risk management by using the risk based program. Volatility can be managed well and business model performance can be extended with correct information that is spread across the organization (Liang et al., 2017)
The efficient frontier will be send to the business leaders directly and they will become the holders of the risks for their respective areas of influence. The efficient frontier has to learn the language of the risk. It is fundamentally assumed that the risk transfer and lines of insurance will be modelled properly. This is significant assumption, as plain modelling foibles, internal disputes, information asymmetry and data limitations will be easily disturb the best intentions of the framework. It is very necessary to test any kind of model and if possible back test the model and involvement of different business leaders is also important to examine the results of the model. It is important to involve independent experts to question and examine the assumptions of the model (Tajani & Morano, 2017)
References
Liang, J., Zhong, M., Zeng, G., Chen, G., Hua, S., & Li, X. et al. (2017). Risk management for optimal land use planning integrating ecosystem services values: A case study in Changsha, Middle China. Science Of The Total Environment, 579(2), 1675-1682.
Tajani, F., & Morano, P. (2017). Evaluation of vacant and redundant public properties and risk control. Journal Of Property Investment & Finance, 35(1), 75-100.
Zhou, W., & Xu, Z. (2018). Portfolio selection and risk investment under the hesitant fuzzy environment. Knowledge-Based Systems, 144(2), 21-31.
Student 2:
Uses of Efficient Frontier Analysis.
Discussion- 11. How does efficient frontier analysis (EFA) dif.docx
Discussion- 1
1. How does efficient frontier analysis (EFA) differ from other forms of complex risk assessment techniques?
The issue of the selection of the risk management methods to support investment decision-making is one of the key issues discussed in the management of portfolios. The factor contributing to the development and dissemination of the risk management methods is the fact that the development of this theory, the risk of portfolios of financial institutions began to measure widely using the Markowitz portfolio selection model. Currently, this problem has been solved, since his designation used linear programming. It cannot be missed with these two facts. The indication of such a relationship, as well as its characteristics are the main purpose of the publication, in which there was not only used the study literature. The efficient frontier can be defined as the image of a set of portfolios that provide the maximum return for each level of risk or minimal risk for any level of return. In addition, this measure brings important details in the development area of portfolios’ management of financial instruments, on the grounds that it considers the possibility of the investor’s bankruptcy and may be regarded as a dynamic measurement of the risk (Bali T.G).
2. What limitations might an analyst encounter with EFA?
The financial equivalent of racing cars if They're one of the most touted, yet most misunderstood and misused, tools in the field of financial planning. Understanding the nature of an efficient frontier model and the assumptions on which it relies. As with a sophisticated racing car, a powerful tool in the wrong hands can be a very dangerous thing. For example, it's logical to believe that stocks will outperform bonds in the future. Efficient frontier models rely on historical data and relationships to generate the "perfect" portfolio. In my experience, many investors who use efficient frontier models are unaware of their pitfalls. These models are being marketed as solutions to the problem of portfolio construction, but they come without instructions.
3. How can efficient frontier analysis results be communicated and utilized with nonmathematical decision maker?
Communication is not a crank to be turned mindlessly, but a decision problem of its own. As we will see, there are many alternatives to consider. The analyst’s choices constitute the design of a communication plan. In ideal cases, the client is infinitely patient, unshakably invested in the problem, fully committed to finding the highest quality solutions, flexible about the process, and unwavering in confidence in the analyst’s work. In such cases, tight outlines or rambling jumbles may lead to the same outcome. Good quantitative analysis alone does not usually produce good decisions, because rarely does the analyst control all the resources required to decide and act. Decision makers and other players who influence the decision must assimilate the results of th ...
Discussion1Explaining the results of Efficient Frontier Analysis.docx
Discussion1
Explaining the results of Efficient Frontier Analysis to non-technical decision-makers
The implementation of Efficient Frontier Analysis in an organization helps the process of strategic risk management to encompass and advanced analytical technique. The outcomes derived from it can easily be acknowledged and utilised by the non-technical decision-makers of the organisation as well. With the private utilization of Efficient Frontier Analysis, the decision-maker can easily consider identifying Complex property and developing casualty risk profiles. It has been observed in the considered case study that the most convincing organizational decision-making practices to determine efficient risk management need extensive acknowledgement of the governance structure followed by the processes and the varieties of tools used in it. In addition to it, they are also subjected to be developed on the basis of the guidance and principles of ISO 31000 followed by the guidance of implementation empowered by Australian and New Zealand handbook HB 436 (Fraser, Simkins & Narvaez, 2014). The consideration of Efficient Frontier Analysis emphasizes the hierarchical roles within an internal audit function as well as the organization and risk management function.
The results of implementing Efficient Frontier Analysis depend in-depth assessment of the risk portfolio volatility followed by the pricing structure acknowledged through decision-making. Furthermore, the considered case study also explains that the implementation of Efficient Frontier Analysis also needs to analyze the insurance layering efficiency to determine the risk portfolio application in order to ensure the catastrophic loss potential within the decision-making practices of strategic risk management (Rezaeiani & Foroughi, 2018). Additionally, a business organization implementing it can also become capable of analyzing and resolving the control break down easily with the identification of risk origins, actors, causes and consequences precisely. With the help of proper strategic management, the non-technical decision-making practices can be functional through a risk appetite framework that influences risk control framework. both these further impact on the emergence of the dynamic risks followed by integrated enterprise risk profile and scenario and stress testing by enabling untapped opportunities.
Recommendations assuming the risk appetite
The notion of risk appetite is strongly aligned with risk tolerance to influence the scenario and stress testing abilities to develop an analytical framework. The fundamental purpose of this Framework is to drive multiple sets of discussions based on analytical information to help the decision-makers in determining the risk profile and lead the organization to constitute competitive opportunities. It has been observed that the risk appetite in association with the risk tolerance helps them in categorizing the risks and further reframe them as opportuniti ...
It is important to be aware of the followingMission s
It is important to be aware of the following:Mission statementVision statementGoals
These will allow you to manage and strategize to follow the company mission and vision and meet the goals.
Stakeholders – any individual or group that has a stake in the outcome of the company.Some examples:CustomersManagersEmployeesStockholdersCommunityCompetitors
WBS=Work Breakdown StructureIt is a deliverable oriented decomposition of a project into smaller components.It is similar to an organizational chart.
RAM=Responsibility Assignment MatrixThis is a chart that assigns various responsibilities to employees.It decreases confusion about job descriptions.It assists with communicating through the proper channels.
A risk analysis should be conducted on a regular basis and more frequently if conditions change.Some examples are:SWOT (Strenths, Weaknesses, Opportunities, and Threats)PEST (Political, Economical, Socio-economical, and Technology)
Once risks are identified, they should be addressed in a risk assessment plan.The plan should include:The risk.Response to risk.Potential chance the risk could occur.Potential cost of the risk occurs.
Scheduling can be a daunting task.It may be helpful to create a formal scheduling system to help manage the day to day schedule as well as overtime, sick time, vacation time, etc.Scheduling should be conducted with the budget in mind.
In larger organizations, a communication plan may be appropriate.This details:The frequency of communication with each stakeholder.The medium that will be used to communicate.The response time for returning communications.
Hale, Judith. (2007). The Performance Consultant's Fieldbook: Tools and Techniques for Improving Organizations and People (Essential Knowledge Resource). 2 ed. Washington D.C.: Pfeiffer.
The Assignment (2-3 pages):
· Identify the social problem
· Explain rational for selecting social problem
· Describe state and federal policies that impact the social problem
· Identify specific methods to address the social problems
· Explain how the agency and student can advocate to change the social problem
Week 4 Discussion 1
Influence Decision-Makers
If an organization considers its employees to be human assets, training and development represents an ongoing investment in these assets and one of the most significant investments an organization can make. Training involves employees acquiring knowledge and learning skills that they will be able to use immediately; employee development involves learning that will aid the organization and employee later in the employee’s career. Many organizations use the term learning rather than training to emphasize the point that the activities engaged in as part of this developmental process are broad based and involve much more than straightforward acquisition of manual or technical skills. Learning implies ongoing development and continuously adding to employees ‘skills and knowledge to meet the challenges the organization faces ...
15Reflection and Discussion Forum Week 3Sri Chaita
1
5
Reflection and Discussion Forum Week 3
Sri Chaitanya Patluri
University of the Cumberlands
Organizational Behavior
Dr. Johnny Chavez
Sep 07, 2021
Reflection
Motivation is defined as a set of motives or conditions that drive the behavior of individuals, organizational units, or projects. The purpose of motivation concepts is to help them focus on the primary purpose of the process and the related motives that underlie it. Once they understand motivation concepts, they can use them to motivate people and accomplish tasks. Motivation concepts help people understand why they do what they do and help them identify the steps that motivate motivation. The next step understands the steps needed to move from one problem domain to another. The theories that have been developed are generally confusing, contradictory, and contradictory to the originated objectives. The more theory that is used, the more contradictory it is to the objectives it supposedly was intended to achieve. However, it is essential to realize that more theories and theories will lead to a more consistent method of achieving objectives(Nasution, 2021).
Most organizations today know the objectives and are using organizational, motivational methods to achieve them. Organization-level factors such as human resources, compensation, and support systems influence whether an organization achieves its goals. These factors influence many factors, including the organization's performance as measured by objectives. Employee job engagement can affect managerial relationships and organizational behaviors, and the firm's overall success. It can improve compliance, employee satisfaction, better financial performance, increased employee motivation, and improved corporate image. The degree to which an organization considers its corporate environment a living environment is called corporate culture. The potential for employee empowerment and communication increases when there is corporate culture. The driving forces behind the decision-making process are the drive for performance, and both factors drive performance. The more drive for performance, the more drive for performance needs to be met. One of the significant factors that drive performance is the drive for return on investment. The second major factor that drives performance is the drive for achievement(Robbins & Judge, 2018).
Motivation plays a significant role in organizational functioning and decision-making. A good motivator's personality is a significant factor influencing their decision-making abilities. JCM utilizes opportunities to take risks in order to learn. It is essential because there is a risk associated with going beyond the requirements set for them in the job they are doing. Some employees find that adding pressure to achieve a JCM Goal of getting more done results in increased pressure to get things done and less commitment to the organization. To achieve this goal, employees must take on more responsibility and n ...
15Reflection and Discussion Forum Week 3Sri Chaita
1
5
Reflection and Discussion Forum Week 3
Sri Chaitanya Patluri
University of the Cumberlands
Organizational Behavior
Dr. Johnny Chavez
Sep 07, 2021
Reflection
Motivation is defined as a set of motives or conditions that drive the behavior of individuals, organizational units, or projects. The purpose of motivation concepts is to help them focus on the primary purpose of the process and the related motives that underlie it. Once they understand motivation concepts, they can use them to motivate people and accomplish tasks. Motivation concepts help people understand why they do what they do and help them identify the steps that motivate motivation. The next step understands the steps needed to move from one problem domain to another. The theories that have been developed are generally confusing, contradictory, and contradictory to the originated objectives. The more theory that is used, the more contradictory it is to the objectives it supposedly was intended to achieve. However, it is essential to realize that more theories and theories will lead to a more consistent method of achieving objectives(Nasution, 2021).
Most organizations today know the objectives and are using organizational, motivational methods to achieve them. Organization-level factors such as human resources, compensation, and support systems influence whether an organization achieves its goals. These factors influence many factors, including the organization's performance as measured by objectives. Employee job engagement can affect managerial relationships and organizational behaviors, and the firm's overall success. It can improve compliance, employee satisfaction, better financial performance, increased employee motivation, and improved corporate image. The degree to which an organization considers its corporate environment a living environment is called corporate culture. The potential for employee empowerment and communication increases when there is corporate culture. The driving forces behind the decision-making process are the drive for performance, and both factors drive performance. The more drive for performance, the more drive for performance needs to be met. One of the significant factors that drive performance is the drive for return on investment. The second major factor that drives performance is the drive for achievement(Robbins & Judge, 2018).
Motivation plays a significant role in organizational functioning and decision-making. A good motivator's personality is a significant factor influencing their decision-making abilities. JCM utilizes opportunities to take risks in order to learn. It is essential because there is a risk associated with going beyond the requirements set for them in the job they are doing. Some employees find that adding pressure to achieve a JCM Goal of getting more done results in increased pressure to get things done and less commitment to the organization. To achieve this goal, employees must take on more responsibility and n ...
Chaitanya Kosaraju Week 4 discussionCOLLAPSETop of FormHan.docx
Chaitanya Kosaraju
Week 4 discussion
COLLAPSE
Top of Form
Handling risks in an all-encompassing manner is testing, and building a successful system for its administration is testing. It is fascinating to take note of that there is considerably more understanding from the center gathering and different analysts about what successful hazard the executives resembles than how to do it. Some of the characteristics and functions of an effective risk management program are:
Focus on what is important: The main inquiry we should pose is 'What are we attempting to protect? "There's no ideal bundle, and some leftover hazard should consistently be taken." A third included "Dangers are unavoidable, however it's the manner by which they're dealt with—our reaction, possibility plans, group preparation, and flexibility. Consequently, the focal point of effective risk management ought not to be tied in with saying "no" to a hazard, yet how to state "yes," along these lines fabricating an increasingly deft endeavor. Many trust the time has come to perceive that hazard can't be overseen exclusively through controls, strategies, and innovation yet that all workers must comprehend the ideas and objectives of hazard the board in light of the fact that the undertaking will consistently need to depend on their judgment somewhat. Therefore they will in general representative numerous parts of hazard the executives to lower levels in the association, accordingly anticipating the improvement of any more extended term, by and large vision
Expect changes over time: In acknowledgment of anticipated changes, most member associations have a required hazard evaluation at key stages in the framework improvement procedure to catch the hazard picture associated with a specific undertaking at a few in time and many have normal, progressing audits of required operational controls on a yearly or half-yearly premise to do something very similar.
View risks from multiple levels and perspectives: Rather than managing security incidents in an each one in turn way, it is essential to do main driver examination so as to comprehend chances in an increasingly multifaceted manner. Until now, chance administration has would in general spotlight to a great extent on the operational and strategic levels and not saw in a vital manner. Moreover, hazard, security, and consistence are frequently intermixed in individuals' minds. Each of these is a substantial and novel focal point through which to view hazard and ought not to be viewed just like the equivalent. Observing and adjusting to new universal principles and laws, finishing by and large wellbeing checks, and investigation of potential dangers are other new components of hazard that ought to be fused into a company's general way to deal with hazard the board.
Bottom of Form
Hi All
The appropriate risk response will be different from organization to organization, depending on how management views the risk in terms of magnitude. T ...
Competency model development: A study of conceptual framework
Adjustment between employer with optimum occupation is not easy when jobs are likely to be complicated. This research shows that the more complex the work, the more difficult to identify the most important tasks and competencies associated with successful. Therefore, competency system is necessarily applied to determines the success or failure of the management functions implementation which strictly depend on the quality of human resources.
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESS
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Enterprise Risk Management for the Digital Transformation Age
Enterprise risk management has become a vital component to cyber security, logistics management, asset management and supply chain management. As organizations continue to rely on data to drive workforce automation, Industrial IoT and process automation, it is becoming necessary to analyze data to discover risk before it occurs and implement effective remediation practices and processes. Seminar participants will collaborate and explore the emerging new use cases for enterprise risk management that addresses the need to better understand how to leverage critical data to predict and understand how data analytics can support risk management and mitigation in an increasingly data-dependent workforce environment.
During this seminar, participants will:
a. Explore new innovations in enterprise risk management that will provide new career opportunities for STEM professionals
b. Examine the skills and experiences necessary to take advantage of risk management career opportunities
c. Discern the applicable areas for enterprise risk management
d. Determine the importance of addressing enterprise risk management in all digital transformation initiatives
e. Identify the market growth and consulting opportunities in enterprise risk management
Enterprise Risk Management Integrating with Strategy and Per
Enterprise Risk Management
Integrating with Strategy and Performance
Executive Summary
C o m m i t te e o f S p o n s o r i n g O r g a n i z a t i o n s o f t h e Tr e a d w a y C o m m i s s i o n
June 2017
This project was commissioned by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO), which is dedicated to providing thought leadership
through the development of comprehensive frameworks and guidance on internal
control, enterprise risk management, and fraud deterrence designed to improve organi-
zational performance and oversight and to reduce the extent of fraud in organizations.
COSO is a private sector initiative, jointly sponsored and funded by:
• American Accounting Association
• American Institute of Certified Public Accountants
• Financial Executives International
• Institute of Management Accountants
• The Institute of Internal Auditors
©2017 All Rights Reserved. No part of this publication may be reproduced, redistributed, transmitted, or displayed in any form or by any means
without written permission of COSO. P254469-01 0516
Executive Summary
Foreword
In keeping with its overall mission, the COSO Board commissioned and published in 2004 Enterprise
Risk Management—Integrated Framework. Over the past decade, that publication has gained broad
acceptance by organizations in their efforts to manage risk. However, also through that period, the
complexity of risk has changed, new risks have emerged, and both boards and executives have
enhanced their awareness and oversight of enterprise risk management while asking for improved
risk reporting. This update to the 2004 publication addresses the evolution of enterprise risk
management and the need for organizations to improve their approach to managing risk to meet the
demands of an evolving business environment.
The updated document, now titled Enterprise Risk Management—Integrating with Strategy and
Performance, highlights the importance of considering risk in both the strategy-setting process and
in driving performance. The first part of the updated publication offers a perspective on current and
evolving concepts and applications of enterprise risk management. The second part, the Framework,
is organized into five easy-to-understand components that accommodate different viewpoints and
operating structures, and enhance strategies and decision-making. In short, this update:
• Provides greater insight into the value of enterprise risk management when setting and
carrying out strategy.
• Enhances alignment between performance and enterprise risk management to improve the
setting of performance targets and understanding the impact of risk on performance.
• Accommodates expectations for governance and oversight.
• Recognizes the globalization of markets and operations and the need to apply a common,
albeit tailored, approach across geographies.
• Presents new ways to view risk to setting and achieving objectiv ...
Practical strategic planning
Using established business models as investigative tools and linking them together to enhance their analytical value is proposed in this paper as a method of progressing from strategic situation analysis to competitive advantage. Moreover, internal analyses that result in the identification of distinctive competencies and external investigations that uncover industry key success factors give strategists the means to develop strategies that may achieve competitive advantage.
Competence Management And Competence Sourcing
DR. SOLOMON EDIRIVERERE ESOMU
DEAN, FACULTY OF COMPUTER SCIENCE AND ENGINEERING, POMA BUSINESS UNIVERSITY, REPUBLIC OF BENIN
Running Head ERM 1ERM 10Research Paper Draf.docx
Running Head: ERM 1
ERM 10
Research Paper Draft
ITS835 – Enterprise Risk Management
Dr. Jerry Alsay
University of the Cumberlands
Introduction
Risk can be explained as a combination of diverse things or activities that a person, a group or organization is doing knowing that they might experience hardships and have knowledge on what they expect but do it anyway since there is a possibility of success. Risk management is a process that assist the organizations to comprehend what are the risk they are anticipating, who might experience the risk, what are the possible control for the risk and making a conclusion on whether these control are adequate or are they not adequate.
Enterprise risk management is explained as the process of organizing, planning, controlling and leading the actions of an enterprise for them to reduce the impacts of risks on the enterprise earnings and capital. The enterprise risk management comprises of strategic, operational and financial risk connected to the accidental losses. Recently, there have been external factors that has encouraged organizations to implement the use of ERM. Government regulatory and industries have started scrutinizing organizations risk management procedures and policies and a rising number of industries, BOD are needed to evaluate and report the relevance of risk management processes in the companies they facilitate.
Organizations might gain by transforming the corporate culture to focus more on overall risk minimization from the aim of meeting IT obligations. Most of the organizations have discovered that ERM has the ability to offer new competitive advantage which has made most organizations to implement ERM. ERM is one of the major achievement that most of the organizations are striving to implement. This paper will focus on discussing the background understanding of ERM, the advantages of ERM and the implementation of ERM in organizations.
Background
There exist diverse ways in which most organization respond to hazards and some doubt the utilization of ERM. However, there are some organization that currently understand the importance of implementing ERM to their organizations. Just like other transformation processes happening inside an organizations, ERM offers an opportunity for the financial and management accounting professional to change how they are viewed by other companies (Waseem et al., 2017). Through becoming a strategic partner with the ERM adoption, the company can see the “bean sprouters” of the new administrative initiative other than just “bean counters.” When organizations implement ERM they can transform from just being the custodians and historians of accounts to becoming futuristic thinkers. Organizations can transform and become couches as well as players in the new management initiative necessary to the future of the company well-being.
When adopting a good ERM based system inside an organization, technology participates a v ...
Running Head ERM 1ERM 10Research Paper Draf.docx
Running Head: ERM 1
ERM 10
Research Paper Draft
ITS835 – Enterprise Risk Management
Dr. Jerry Alsay
University of the Cumberlands
Introduction
Risk can be explained as a combination of diverse things or activities that a person, a group or organization is doing knowing that they might experience hardships and have knowledge on what they expect but do it anyway since there is a possibility of success. Risk management is a process that assist the organizations to comprehend what are the risk they are anticipating, who might experience the risk, what are the possible control for the risk and making a conclusion on whether these control are adequate or are they not adequate.
Enterprise risk management is explained as the process of organizing, planning, controlling and leading the actions of an enterprise for them to reduce the impacts of risks on the enterprise earnings and capital. The enterprise risk management comprises of strategic, operational and financial risk connected to the accidental losses. Recently, there have been external factors that has encouraged organizations to implement the use of ERM. Government regulatory and industries have started scrutinizing organizations risk management procedures and policies and a rising number of industries, BOD are needed to evaluate and report the relevance of risk management processes in the companies they facilitate.
Organizations might gain by transforming the corporate culture to focus more on overall risk minimization from the aim of meeting IT obligations. Most of the organizations have discovered that ERM has the ability to offer new competitive advantage which has made most organizations to implement ERM. ERM is one of the major achievement that most of the organizations are striving to implement. This paper will focus on discussing the background understanding of ERM, the advantages of ERM and the implementation of ERM in organizations.
Background
There exist diverse ways in which most organization respond to hazards and some doubt the utilization of ERM. However, there are some organization that currently understand the importance of implementing ERM to their organizations. Just like other transformation processes happening inside an organizations, ERM offers an opportunity for the financial and management accounting professional to change how they are viewed by other companies (Waseem et al., 2017). Through becoming a strategic partner with the ERM adoption, the company can see the “bean sprouters” of the new administrative initiative other than just “bean counters.” When organizations implement ERM they can transform from just being the custodians and historians of accounts to becoming futuristic thinkers. Organizations can transform and become couches as well as players in the new management initiative necessary to the future of the company well-being.
When adopting a good ERM based system inside an organization, technology participates a v.
2017 coso-erm-integrating-with-strategy-and-performance-executive-summary
This update to the 2004 publication addresses the evolution of enterprise risk management and the need for organizations to improve their approach to managing risk to meet the demands of an evolving business environment. The updated document, titled Enterprise Risk Management—Integrating with Strategy and Performance, highlights the importance of considering risk in both the strategy-setting process and in driving performance.
5242020 Originality Reporthttpsucumberlands.blackboar.docx
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Running head: ERM 2
ERM 2
Assignment – 2 Nihang Shah
University of the Cumberland’s
05.24.2020
Question one
I do believe the fact that ERM plays a vital role by evolving more so when the world is evolving. It can be stated that ERM has been in the process of
expanding and ensuring that it has various visions and ideas. It can be stated that through the use of ERM, one is able to come up with various bugs
that will play a significant role in the oversight. As Felix Kloman depicts in his section "A Brief History of Risk Management," a considerable lot of
the ideas return an exceptionally prolonged stretch of time and a significant number of the purported newfound procedures can be referenced to
the previous works and practices portrayed by Kloman. In any case, it is just from around the mid-1990s that the idea of giving a name to overseeing
dangers in an all-encompassing manner over the many working storehouses of an endeavour began to grab hold. During the 1990s, terms, for ex-
ample, incorporated risk the executives and enterprise-wide chance administration were likewise utilized. Many idea pioneers, for instance, the indi-
viduals who made ISO 31000, accept that the term risk the executives is all that is expected to portray great risk the board; in any case, numerous
others accept that the last term is regularly used to depict chance administration at the lower dimensions of the association and does not really
catch the ideas of big business level ways to deal with risk. As ERM keeps on developing there is still much exchange and perplexity over precisely
what it is and how it ought to be accomplished. Realize that it is as yet advancing and may take a lot more years before it is completely systematized
d li h d i li bl T th b t ld th i il f ti th t th i j t i l th d f d i ERM (Li b b
1
2
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Narayana Rao Mahankali Week 11 - DiscussionCOLLAPSETop of Fo.docx
Narayana Rao Mahankali
Week 11 - Discussion
COLLAPSE
Top of Form
Week 11 – Discussion:
ERM Measures & Mini case studies:
The organization's ERM goal ought to be to quantify and express the normal result from accomplishing them. The result ought to be based, to the degree conceivable, on the normal helpful effect on the execution estimates that are utilized to run the organization. This kind of rule suggests, obviously, that the organization as of now has set up unmistakably verbalized and surely knew execution proportions of this sort. The types of risks that ERM to cover and the ERM measures that the organization should implement to monitor risks include in the following broad categories: Financial, Operational, Hazard, Strategic plans.
The key measures I will recommend that Akawini uses in the monitoring of both progress and performance is to follow in characterizing the risk types a given organization should cover in its ERM program and that organization supervisors need to take care of and oversee in an incorporated manner is that the risks matter most to the organization's strategic goals. Managers need an unmistakable, normal comprehension of what the organization implies by those risks and why they are vital to the company’s performance.
In setting the extent of their ERM program, organization leaders need to verify that the extent of risks and extent of processes are aligned and that they are probably going to enable the organization to achieve the ERM objectives they have officially set. Also, in deciding the administration procedures to be influenced, they should be sensible about the level of impact the ERM work can apply on the officeholder owners of these influenced procedures authoritative turf is ordinarily referred to as a main leading obstacle to compelling ERM. The pragmatic result is that the underlying scope is frequently less broad than the long-term desired scope.
References:
· Fraser, J., Simkins, B. & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. Wiley & Sons.
· https://www.logicmanager.com/erm-software/2018/09/05/how-to-measure-your-enterprise-risk-management-effectiveness/
Bottom of Form
Srilekha Dasari
week 11
COLLAPSE
Top of Form
The Akawini copper company is a mining company with an international concern for the minerals. The company uses Enterprise Risk Management to ensure the effectiveness of its operations. The risk management system for the Akawini Company when shipping the concentrate to the port by the use of the trucks. The ERM is also important for the managing of the 1500 employees working in the suite and the port. The implemented framework for the management of the risks in the company is not effective because it is not likely to yield more profits ("Implementing Enterprise Risk Management: Case Studies and Best Practices", 2019).
The risk assessment should be done monthly or quarterly and not on an annual basis. It is important to track the progres ...
12 March 2015 Employee Benefit Plan Review■ Focus On … Pla.docx
12 March 2015 Employee Benefit Plan Review
■ Focus On … Planning
T
imes are changing. Affordable Care
Act (ACA) compliance, an aging and
shrinking workforce, technology, and
medical and pharmaceutical advance-
ments are on a collision course that is chang-
ing the face of compensation and benefits. As
a result, senior leadership is relying on their
employee benefits professionals more than
ever to help them navigate and mitigate risk.
The secret weapon is deceptively simple: an
Employee Benefits Strategic Plan.
Employee Benefits
Strategic Plan
For some, “strategic planning” is a series
of formulaic meetings that result in a report
that ends up on a shelf, rarely referred to or
used until the next cycle. For a select few,
however, it is a crucial part of the organiza-
tion’s sustainability—a road map used to guide
decisions.
Organizational strategic planning sets pri-
orities and goals for the future. An Employee
Benefit Strategic Plan employs the same
approach but is specific to the total compensa-
tion approach of the organization. Simply put,
in an environment of consistently rising health-
care costs and shifting healthcare regulations,
it is essential for organizations to create long-
term strategies with short-term objectives and
have a quick-response review process in place.
The fiscal realities of increasing healthcare
costs mixed with ACA unknowns can impact
your organization’s financial performance in
several ways. It may drag down shareholder
value, become a drain on company perfor-
mance, or negatively impact the culture and
human capital within a business. Yet, with all
these negative impacts, most organizations still
do only a superficial short-term employee ben-
efits plan for themselves.
What constitutes a strategy and how do
we actually build a plan? A good definition of
strategy is “… choosing to perform different
activities that will provide a sustainable compet-
itive advantage.” It is a way of thinking about
the world and approaching business. Strategic
planning is a process to produce innovative and
creative ideas that serve as the core framework
for the organization and design its future.
By adopting a strategic employee benefit
planning process, organizations can make deci-
sions regarding their benefits with significantly
less stress for all involved.
How to Create a Strategic Plan
Most strategic planning models share a com-
mon discover/analyze/design/build/review struc-
ture. This process appears to be simple, but it
does have complex and powerful components
within each category.
First, confirm that the organization is ready.
Building a comprehensive plan requires com-
mitment from the top down.
Next, make sure all stakeholders are repre-
sented. In addition to the C-Suite and human
resources (HR), the committee should include
representatives of all major employee groups
and functions. It is not uncommon for a stra-
tegic planning committee to have 12 or.
The art of building a winning team - Construction Manager Article
Donnie MacNicol and Keith Robinson explain how management models can help build productive relationships and manage conflicts effectively. The article can be viewed at the CM magazine site at http://www.constructionmanagermagazine.com/construction-professional/cpd-art-building-winning-team/
Also quoted in an article on Project Leadership development programmes at http://www.constructionmanagermagazine.com/agenda/cm-drops-vincis-empower-training-programme/
More Related Content
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Chaitanya Kosaraju Week 4 discussionCOLLAPSETop of FormHan.docx
Chaitanya Kosaraju
Week 4 discussion
COLLAPSE
Top of Form
Handling risks in an all-encompassing manner is testing, and building a successful system for its administration is testing. It is fascinating to take note of that there is considerably more understanding from the center gathering and different analysts about what successful hazard the executives resembles than how to do it. Some of the characteristics and functions of an effective risk management program are:
Focus on what is important: The main inquiry we should pose is 'What are we attempting to protect? "There's no ideal bundle, and some leftover hazard should consistently be taken." A third included "Dangers are unavoidable, however it's the manner by which they're dealt with—our reaction, possibility plans, group preparation, and flexibility. Consequently, the focal point of effective risk management ought not to be tied in with saying "no" to a hazard, yet how to state "yes," along these lines fabricating an increasingly deft endeavor. Many trust the time has come to perceive that hazard can't be overseen exclusively through controls, strategies, and innovation yet that all workers must comprehend the ideas and objectives of hazard the board in light of the fact that the undertaking will consistently need to depend on their judgment somewhat. Therefore they will in general representative numerous parts of hazard the executives to lower levels in the association, accordingly anticipating the improvement of any more extended term, by and large vision
Expect changes over time: In acknowledgment of anticipated changes, most member associations have a required hazard evaluation at key stages in the framework improvement procedure to catch the hazard picture associated with a specific undertaking at a few in time and many have normal, progressing audits of required operational controls on a yearly or half-yearly premise to do something very similar.
View risks from multiple levels and perspectives: Rather than managing security incidents in an each one in turn way, it is essential to do main driver examination so as to comprehend chances in an increasingly multifaceted manner. Until now, chance administration has would in general spotlight to a great extent on the operational and strategic levels and not saw in a vital manner. Moreover, hazard, security, and consistence are frequently intermixed in individuals' minds. Each of these is a substantial and novel focal point through which to view hazard and ought not to be viewed just like the equivalent. Observing and adjusting to new universal principles and laws, finishing by and large wellbeing checks, and investigation of potential dangers are other new components of hazard that ought to be fused into a company's general way to deal with hazard the board.
Bottom of Form
Hi All
The appropriate risk response will be different from organization to organization, depending on how management views the risk in terms of magnitude. T ...
Competency model development: A study of conceptual framework
Adjustment between employer with optimum occupation is not easy when jobs are likely to be complicated. This research shows that the more complex the work, the more difficult to identify the most important tasks and competencies associated with successful. Therefore, competency system is necessarily applied to determines the success or failure of the management functions implementation which strictly depend on the quality of human resources.
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESS
Essay Writing Service
http://StudyHub.vip/ASSESSING-THE-RELATIONSHIP-EFFECTIVE-RI 👈
Enterprise Risk Management for the Digital Transformation Age
Enterprise risk management has become a vital component to cyber security, logistics management, asset management and supply chain management. As organizations continue to rely on data to drive workforce automation, Industrial IoT and process automation, it is becoming necessary to analyze data to discover risk before it occurs and implement effective remediation practices and processes. Seminar participants will collaborate and explore the emerging new use cases for enterprise risk management that addresses the need to better understand how to leverage critical data to predict and understand how data analytics can support risk management and mitigation in an increasingly data-dependent workforce environment.
During this seminar, participants will:
a. Explore new innovations in enterprise risk management that will provide new career opportunities for STEM professionals
b. Examine the skills and experiences necessary to take advantage of risk management career opportunities
c. Discern the applicable areas for enterprise risk management
d. Determine the importance of addressing enterprise risk management in all digital transformation initiatives
e. Identify the market growth and consulting opportunities in enterprise risk management
Enterprise Risk Management Integrating with Strategy and Per
Enterprise Risk Management
Integrating with Strategy and Performance
Executive Summary
C o m m i t te e o f S p o n s o r i n g O r g a n i z a t i o n s o f t h e Tr e a d w a y C o m m i s s i o n
June 2017
This project was commissioned by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO), which is dedicated to providing thought leadership
through the development of comprehensive frameworks and guidance on internal
control, enterprise risk management, and fraud deterrence designed to improve organi-
zational performance and oversight and to reduce the extent of fraud in organizations.
COSO is a private sector initiative, jointly sponsored and funded by:
• American Accounting Association
• American Institute of Certified Public Accountants
• Financial Executives International
• Institute of Management Accountants
• The Institute of Internal Auditors
©2017 All Rights Reserved. No part of this publication may be reproduced, redistributed, transmitted, or displayed in any form or by any means
without written permission of COSO. P254469-01 0516
Executive Summary
Foreword
In keeping with its overall mission, the COSO Board commissioned and published in 2004 Enterprise
Risk Management—Integrated Framework. Over the past decade, that publication has gained broad
acceptance by organizations in their efforts to manage risk. However, also through that period, the
complexity of risk has changed, new risks have emerged, and both boards and executives have
enhanced their awareness and oversight of enterprise risk management while asking for improved
risk reporting. This update to the 2004 publication addresses the evolution of enterprise risk
management and the need for organizations to improve their approach to managing risk to meet the
demands of an evolving business environment.
The updated document, now titled Enterprise Risk Management—Integrating with Strategy and
Performance, highlights the importance of considering risk in both the strategy-setting process and
in driving performance. The first part of the updated publication offers a perspective on current and
evolving concepts and applications of enterprise risk management. The second part, the Framework,
is organized into five easy-to-understand components that accommodate different viewpoints and
operating structures, and enhance strategies and decision-making. In short, this update:
• Provides greater insight into the value of enterprise risk management when setting and
carrying out strategy.
• Enhances alignment between performance and enterprise risk management to improve the
setting of performance targets and understanding the impact of risk on performance.
• Accommodates expectations for governance and oversight.
• Recognizes the globalization of markets and operations and the need to apply a common,
albeit tailored, approach across geographies.
• Presents new ways to view risk to setting and achieving objectiv ...
Practical strategic planning
Using established business models as investigative tools and linking them together to enhance their analytical value is proposed in this paper as a method of progressing from strategic situation analysis to competitive advantage. Moreover, internal analyses that result in the identification of distinctive competencies and external investigations that uncover industry key success factors give strategists the means to develop strategies that may achieve competitive advantage.
Competence Management And Competence Sourcing
DR. SOLOMON EDIRIVERERE ESOMU
DEAN, FACULTY OF COMPUTER SCIENCE AND ENGINEERING, POMA BUSINESS UNIVERSITY, REPUBLIC OF BENIN
Running Head ERM 1ERM 10Research Paper Draf.docx
Running Head: ERM 1
ERM 10
Research Paper Draft
ITS835 – Enterprise Risk Management
Dr. Jerry Alsay
University of the Cumberlands
Introduction
Risk can be explained as a combination of diverse things or activities that a person, a group or organization is doing knowing that they might experience hardships and have knowledge on what they expect but do it anyway since there is a possibility of success. Risk management is a process that assist the organizations to comprehend what are the risk they are anticipating, who might experience the risk, what are the possible control for the risk and making a conclusion on whether these control are adequate or are they not adequate.
Enterprise risk management is explained as the process of organizing, planning, controlling and leading the actions of an enterprise for them to reduce the impacts of risks on the enterprise earnings and capital. The enterprise risk management comprises of strategic, operational and financial risk connected to the accidental losses. Recently, there have been external factors that has encouraged organizations to implement the use of ERM. Government regulatory and industries have started scrutinizing organizations risk management procedures and policies and a rising number of industries, BOD are needed to evaluate and report the relevance of risk management processes in the companies they facilitate.
Organizations might gain by transforming the corporate culture to focus more on overall risk minimization from the aim of meeting IT obligations. Most of the organizations have discovered that ERM has the ability to offer new competitive advantage which has made most organizations to implement ERM. ERM is one of the major achievement that most of the organizations are striving to implement. This paper will focus on discussing the background understanding of ERM, the advantages of ERM and the implementation of ERM in organizations.
Background
There exist diverse ways in which most organization respond to hazards and some doubt the utilization of ERM. However, there are some organization that currently understand the importance of implementing ERM to their organizations. Just like other transformation processes happening inside an organizations, ERM offers an opportunity for the financial and management accounting professional to change how they are viewed by other companies (Waseem et al., 2017). Through becoming a strategic partner with the ERM adoption, the company can see the “bean sprouters” of the new administrative initiative other than just “bean counters.” When organizations implement ERM they can transform from just being the custodians and historians of accounts to becoming futuristic thinkers. Organizations can transform and become couches as well as players in the new management initiative necessary to the future of the company well-being.
When adopting a good ERM based system inside an organization, technology participates a v ...
Running Head ERM 1ERM 10Research Paper Draf.docx
Running Head: ERM 1
ERM 10
Research Paper Draft
ITS835 – Enterprise Risk Management
Dr. Jerry Alsay
University of the Cumberlands
Introduction
Risk can be explained as a combination of diverse things or activities that a person, a group or organization is doing knowing that they might experience hardships and have knowledge on what they expect but do it anyway since there is a possibility of success. Risk management is a process that assist the organizations to comprehend what are the risk they are anticipating, who might experience the risk, what are the possible control for the risk and making a conclusion on whether these control are adequate or are they not adequate.
Enterprise risk management is explained as the process of organizing, planning, controlling and leading the actions of an enterprise for them to reduce the impacts of risks on the enterprise earnings and capital. The enterprise risk management comprises of strategic, operational and financial risk connected to the accidental losses. Recently, there have been external factors that has encouraged organizations to implement the use of ERM. Government regulatory and industries have started scrutinizing organizations risk management procedures and policies and a rising number of industries, BOD are needed to evaluate and report the relevance of risk management processes in the companies they facilitate.
Organizations might gain by transforming the corporate culture to focus more on overall risk minimization from the aim of meeting IT obligations. Most of the organizations have discovered that ERM has the ability to offer new competitive advantage which has made most organizations to implement ERM. ERM is one of the major achievement that most of the organizations are striving to implement. This paper will focus on discussing the background understanding of ERM, the advantages of ERM and the implementation of ERM in organizations.
Background
There exist diverse ways in which most organization respond to hazards and some doubt the utilization of ERM. However, there are some organization that currently understand the importance of implementing ERM to their organizations. Just like other transformation processes happening inside an organizations, ERM offers an opportunity for the financial and management accounting professional to change how they are viewed by other companies (Waseem et al., 2017). Through becoming a strategic partner with the ERM adoption, the company can see the “bean sprouters” of the new administrative initiative other than just “bean counters.” When organizations implement ERM they can transform from just being the custodians and historians of accounts to becoming futuristic thinkers. Organizations can transform and become couches as well as players in the new management initiative necessary to the future of the company well-being.
When adopting a good ERM based system inside an organization, technology participates a v.
2017 coso-erm-integrating-with-strategy-and-performance-executive-summary
This update to the 2004 publication addresses the evolution of enterprise risk management and the need for organizations to improve their approach to managing risk to meet the demands of an evolving business environment. The updated document, titled Enterprise Risk Management—Integrating with Strategy and Performance, highlights the importance of considering risk in both the strategy-setting process and in driving performance.
5242020 Originality Reporthttpsucumberlands.blackboar.docx
5/24/2020 Originality Report
https://ucumberlands.blackboard.com/webapps/mdb-sa-BB5a31b16bb2c48/originalityReport/ultra?attemptId=0d0deca0-c81a-403d-9b67-bc1dba89dffe&course_id=_… 1/5
%93
%7
SafeAssign Originality Report
Summer 2020 - Enterprise Risk Management (ITS-83… • Assignment #2
%100Total Score: High risk
Nihang Pareshkumar Shah
Submission UUID: d05527ba-9ddf-4e04-d686-ac75bc08b111
Total Number of Reports
1
Highest Match
100 %
Assignment-2.docx
Average Match
100 %
Submitted on
05/24/20
11:03 AM EDT
Average Word Count
1,366
Highest: Assignment-2.docx
%100Attachment 1
Institutional database (1)
Student paper
Internet (7)
astischool odu firstclassessaywriters
ijbmi books-share ud
essay
Top sources (3)
Excluded sources (0)
View Originality Report - Old Design
Word Count: 1,366
Assignment-2.docx
2
3 5 8
6 7 4
1
2 Student paper 3 astischool 5 odu
Running head: ERM 2
ERM 2
Assignment – 2 Nihang Shah
University of the Cumberland’s
05.24.2020
Question one
I do believe the fact that ERM plays a vital role by evolving more so when the world is evolving. It can be stated that ERM has been in the process of
expanding and ensuring that it has various visions and ideas. It can be stated that through the use of ERM, one is able to come up with various bugs
that will play a significant role in the oversight. As Felix Kloman depicts in his section "A Brief History of Risk Management," a considerable lot of
the ideas return an exceptionally prolonged stretch of time and a significant number of the purported newfound procedures can be referenced to
the previous works and practices portrayed by Kloman. In any case, it is just from around the mid-1990s that the idea of giving a name to overseeing
dangers in an all-encompassing manner over the many working storehouses of an endeavour began to grab hold. During the 1990s, terms, for ex-
ample, incorporated risk the executives and enterprise-wide chance administration were likewise utilized. Many idea pioneers, for instance, the indi-
viduals who made ISO 31000, accept that the term risk the executives is all that is expected to portray great risk the board; in any case, numerous
others accept that the last term is regularly used to depict chance administration at the lower dimensions of the association and does not really
catch the ideas of big business level ways to deal with risk. As ERM keeps on developing there is still much exchange and perplexity over precisely
what it is and how it ought to be accomplished. Realize that it is as yet advancing and may take a lot more years before it is completely systematized
d li h d i li bl T th b t ld th i il f ti th t th i j t i l th d f d i ERM (Li b b
1
2
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Narayana Rao Mahankali Week 11 - DiscussionCOLLAPSETop of Fo.docx
Narayana Rao Mahankali
Week 11 - Discussion
COLLAPSE
Top of Form
Week 11 – Discussion:
ERM Measures & Mini case studies:
The organization's ERM goal ought to be to quantify and express the normal result from accomplishing them. The result ought to be based, to the degree conceivable, on the normal helpful effect on the execution estimates that are utilized to run the organization. This kind of rule suggests, obviously, that the organization as of now has set up unmistakably verbalized and surely knew execution proportions of this sort. The types of risks that ERM to cover and the ERM measures that the organization should implement to monitor risks include in the following broad categories: Financial, Operational, Hazard, Strategic plans.
The key measures I will recommend that Akawini uses in the monitoring of both progress and performance is to follow in characterizing the risk types a given organization should cover in its ERM program and that organization supervisors need to take care of and oversee in an incorporated manner is that the risks matter most to the organization's strategic goals. Managers need an unmistakable, normal comprehension of what the organization implies by those risks and why they are vital to the company’s performance.
In setting the extent of their ERM program, organization leaders need to verify that the extent of risks and extent of processes are aligned and that they are probably going to enable the organization to achieve the ERM objectives they have officially set. Also, in deciding the administration procedures to be influenced, they should be sensible about the level of impact the ERM work can apply on the officeholder owners of these influenced procedures authoritative turf is ordinarily referred to as a main leading obstacle to compelling ERM. The pragmatic result is that the underlying scope is frequently less broad than the long-term desired scope.
References:
· Fraser, J., Simkins, B. & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. Wiley & Sons.
· https://www.logicmanager.com/erm-software/2018/09/05/how-to-measure-your-enterprise-risk-management-effectiveness/
Bottom of Form
Srilekha Dasari
week 11
COLLAPSE
Top of Form
The Akawini copper company is a mining company with an international concern for the minerals. The company uses Enterprise Risk Management to ensure the effectiveness of its operations. The risk management system for the Akawini Company when shipping the concentrate to the port by the use of the trucks. The ERM is also important for the managing of the 1500 employees working in the suite and the port. The implemented framework for the management of the risks in the company is not effective because it is not likely to yield more profits ("Implementing Enterprise Risk Management: Case Studies and Best Practices", 2019).
The risk assessment should be done monthly or quarterly and not on an annual basis. It is important to track the progres ...
12 March 2015 Employee Benefit Plan Review■ Focus On … Pla.docx
12 March 2015 Employee Benefit Plan Review
■ Focus On … Planning
T
imes are changing. Affordable Care
Act (ACA) compliance, an aging and
shrinking workforce, technology, and
medical and pharmaceutical advance-
ments are on a collision course that is chang-
ing the face of compensation and benefits. As
a result, senior leadership is relying on their
employee benefits professionals more than
ever to help them navigate and mitigate risk.
The secret weapon is deceptively simple: an
Employee Benefits Strategic Plan.
Employee Benefits
Strategic Plan
For some, “strategic planning” is a series
of formulaic meetings that result in a report
that ends up on a shelf, rarely referred to or
used until the next cycle. For a select few,
however, it is a crucial part of the organiza-
tion’s sustainability—a road map used to guide
decisions.
Organizational strategic planning sets pri-
orities and goals for the future. An Employee
Benefit Strategic Plan employs the same
approach but is specific to the total compensa-
tion approach of the organization. Simply put,
in an environment of consistently rising health-
care costs and shifting healthcare regulations,
it is essential for organizations to create long-
term strategies with short-term objectives and
have a quick-response review process in place.
The fiscal realities of increasing healthcare
costs mixed with ACA unknowns can impact
your organization’s financial performance in
several ways. It may drag down shareholder
value, become a drain on company perfor-
mance, or negatively impact the culture and
human capital within a business. Yet, with all
these negative impacts, most organizations still
do only a superficial short-term employee ben-
efits plan for themselves.
What constitutes a strategy and how do
we actually build a plan? A good definition of
strategy is “… choosing to perform different
activities that will provide a sustainable compet-
itive advantage.” It is a way of thinking about
the world and approaching business. Strategic
planning is a process to produce innovative and
creative ideas that serve as the core framework
for the organization and design its future.
By adopting a strategic employee benefit
planning process, organizations can make deci-
sions regarding their benefits with significantly
less stress for all involved.
How to Create a Strategic Plan
Most strategic planning models share a com-
mon discover/analyze/design/build/review struc-
ture. This process appears to be simple, but it
does have complex and powerful components
within each category.
First, confirm that the organization is ready.
Building a comprehensive plan requires com-
mitment from the top down.
Next, make sure all stakeholders are repre-
sented. In addition to the C-Suite and human
resources (HR), the committee should include
representatives of all major employee groups
and functions. It is not uncommon for a stra-
tegic planning committee to have 12 or.
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- 1. (Mt) – I need response to Discussion post in 200 words Discussion 1 (Madharapu) Efficient Frontier Analysis: Most of the organisations have types and levels of making decisions, among the non technical maker decision. Project leads ensure the all decision making and well versed with recommendations of project analysis. As a lead once chosen the present recommends the projects with verbally or through written documents. If the given responsibility of project leaders prefers the presence of my recommended projects they have non technical making decisions verbally. This presents to allow with very important opportunities for conviencing and non technical maker decisions. Transparency is the key feature that sustains all board members with every staff organizations. Lack of clarities is killed quickly with company entirely within short periods of is not issued addresses. Transparency can develop and enhance the communications disabled with barriers of all units and within system organizations. I need countable for representing and great repose for pillars hat have members for board of directors to portray the desire. Analysis of frontier is considered by effective methods and organisations for using to find out the projects whether they have determine risks and investments in it. The analysis if succefssully having investors to identify for taking the projects and not achieving the profits. Effectively further the frontier analysis have the methods used for strategic management risks SRM and offers he tools analytically. References Yorai, L. & David, R. (2005). Improving project success through effective project selection. Retrieved from, https://www.pmi.org/learning/library/improving-projectsuccess-efficient-frontier- technique-7576 Discussion 2 (Koripalli) In the course of recent years, the utilization of cutting edge quantitative monetary and conduct investigation has gotten expanding consideration trying to more readily comprehend and foresee the exhibition sway on peril hazard portfolios. The restrictions of single order demonstrating and basic leadership, which can prompt misreading of budgetary and execution hazards crosswise over expansive operational classes, were featured by the breakdown of the monetary markets in mid-2007. The need to respond to more extensive hazard questions has persuaded the hazard the board business (i.e., protection, actuarial, account, review, and activities) to recalibrate and divert center expository conventions toward an increasingly incorporated methodology. Flin, R., Youngson, G., & Yule, S. (2017). The push to exploit complex information systems was, to a limited extent, invigorated by the developing danger the board structure mix into what is presently being unassumingly alluded to as big business hazard the executives (ERM) or key hazard the board (SRM).1 Inside the 2013 Risk and Insurance Management Society (RIMS) SRM Implementation Guide, the idea of vital hazard
- 2. the board is characterized as a “business discipline that drives the consultations and activities encompassing business-related vulnerabilities, while revealing undiscovered open doors reflected What they soon discover is that communicating effectively is challenging, and communicating technical information to non-techies can be a nightmare. They can’t seem to convey what they believe to be simple information to a non-tech audience, who fire back that these techies look down on them because they’re struggling to understand. To make matters worse, senior leaders become increasingly frustrated with the poor communication, letting the techies know this shortcoming could hurt their careers. If you’re in technology, it’s time you started giving more serious thought to how you will communicate, especially with non-techies. With some planning, non-technical audiences will begin to applaud your efforts and really learn what you’re trying to teach them, instead of becoming frustrated and complaining about your efforts to their bosses. References : Flin, R., Youngson, G., & Yule, S. (2017). How do surgeons make intraoperative decisions?. BMJ Quality & Safety, 16(3), 235239. Yule, S., Flin, R., Paterson-Brown, S., & Maran, N. (2016). Non-technical skills for surgeons in the operating room: a review of the literature. Surgery, 139(2), 140-149. Discussion 3 (muzzamil) As a project lead for an analysis team Firstly, One of the most important ways SRM is beneficial for an organization is its ability to create opportunities for interaction and risk discovery (sometimes called “risk sensing”) across organizational boundaries. This has not always been the case with previous ERM frameworks, where conceptual frameworks were overly formalized and yielded very narrow risk estimates. From the Risk and Insurance Management Society (RIMS) SRM Implementation Guide, the concept of strategic risk management is defined as a “business discipline that drives the deliberations and actions surrounding business related uncertainties, while uncovering untapped opportunities reflected in an organization’s strategy and execution.” Recommendation From an SRM perspective, within any operating organization there exists a series of hazard, operational, market, human capital, and reputational risks. These risks, while generally identified and mitigated separately, in fact exist in an integrated operational space—a risk portfolio. The essential questions that MPT can attempt to answer are: • • • • What is the economic value of an organization’s material risk profile when characterized as a financial portfolio? How can the economic and operational volatility of an organization’s risk profile be characterized dynamically and intertemporally? Are an organization’s risk mitigation strategies and methods efficiently matching an organization’s risk profile? If an organization changes its operations in a material way, what impact can be visualized across the organization’s risk portfolio? It is also important to have an enterprise understanding of our risk appetite and tolerance. By having a formal statement of risk appetite, we can use that knowledge in the proper selection of the options in our efficient frontier. Risk appetite and tolerance statements for key risk categories are used to reframe risks as opportunities and to position control framework Scenario and stress testing used for: • • • Calculation of investment, resource needs, capital allocation Revising risk appetite positions and control actions Guiding strategy adjustments This can happen for a variety of reasons internal restrictions, lack of proper information, risk limits, reinsurance requirements, and so on. The framework can, however, lead insurance markets to more optimal insurance contracts. So even if an option
- 3. is not technically available, the closest option available in the marketplace can be substituted in similar fashion. Reference Fraser, J., Simkins, B., & Narvaez, K. (2015). Implementing Enterprise Risk Management. Hoboken, New Jersey: John Wiley & Sons, Inc.