Top of Form
Chapter 22 PPT - JAA Inc.–A Case Study in Creating Value from Uncertainty
1. How high do you assess the knowledge level of the business strategy throughout the company by the average employee? Is it your assessment that there is a robust understanding of JAA’s business strategy? Support your position with examples.
2. As you are aware, effective implementation of ISO 31000 involves effective design and implementation of a risk management framework and effective implementation of the risk management processes. This will be verified by incorporation of 11 key principles. Find an example in the case for each of the 11 principles in action.
3. If you compare the internal audit department at JAA to several that you know of currently in the marketplace, what are some of the major differences that you see at JAA that obviously have contributed to superior performance? What is unique and refreshing about the approach to the external audit as compared to what you have seen in industry?
Top of Form
Chapter 25 - Uses of Efficient Frontier Analysis in Strategic Risk Management
1. How does efficient frontier analysis (EFA) differ from other forms of complex risk assessment techniques?
2. What limitations might an analyst encounter through the use of EFA?
3. How can efficient frontier analysis results be communicated and utilized with nonmathematical decision makers?
Requirements:
· API Format, No Plagiarism, You must also use a scholarly source
· As a reminder, you must list every reference that you used to build your response then cite every reference within every sentence that you used it with a properly APA formatted citation (ABC, 2019). Citation is author last name and year.Bottom of FormBottom of Form
· You have to answer every question, No word limit. I need the answers for each and every question separately with citations matched to the references.
· Provide the answers in a word doc file for chap 22 and chap 25, like question and answers for 6 questions.
· I need the answers for each and every question separately with citations matched to the references.
Chapter 22: JAA Inc.—A Case Study in Creating Value from Uncertainty: Best Practices in Managing Risk. This case has several important take aways as follows.
· To study the importance of the communication process to the overall success of a company’s business objectives
· To understand the relationship of strategic objectives, context, stakeholders, and risk criteria and how these play a critical role in the overall effectiveness of risk management
· To understand the changing role for internal and external audit and the demands that are being placed on both groups to step up to the plateTo understand the role of the board and its various committees in a company’s overall effectiveness of risk managementTo understand the key organizations and materials from around the globe that are playing a profound thought leadership role in risk management to further enhance education/thinki ...
ITS 835 Module One Essay Guidelines and Rubric Topic C.docxvrickens
ITS 835 Module One Essay Guidelines and Rubric
Topic: Chapter 7 – “Turning the Organizational Pyramid Upside Down Ten Years of Evolution in Enterprise Risk Management at United Grain
Growers”
Overview: Few companies stand out as successful pioneers in enterprise risk management (ERM), especially one that undertook the initiative
almost 15 years ago. One such ERM pioneer was United Grain Growers (UGG), a conservative 100-year-old Winnipeg, Canada– based grain
handler and distributor of farm supplies. Review the case study in Chapter Seven (7) of the textbook to understand the details of their ERM
journey.
Answer the following questions regarding this case study:
1. Why does a more participative management style (“tipping the pyramid over”) lead to greater responsiveness to customers' needs,
increased accountability, and more innovative solutions to challenges than a hierarchical “command and control” structure?
2. Under what circumstances might the hierarchical “command and control” structure produce superior results?
3. What factors do you believe led UGG/ AU to be pioneers in ERM? Was it the industry/ company/ history/ circumstances? Was it a
changed organizational “culture” or perhaps good management? Describe the leading factor(s) in your response.
Guidelines for Submission: Using APA 6th edition style standards, submit a Word document that is 2-4 pages in length (excluding title page,
references, and appendices) and include at least two credible scholarly references to support your findings. The UC Library is a good place to find
these sources. Be sure to cite and reference your work using the APA guides and essay template that are located in the courseroom.
Required elements:
Please ensure your paper complies APA 6th edition style guidelines. There is an essay template located under the Information link.
APA basics:
o Your essay should be typed, double-spaced on standard-sized paper (8.5" x 11")
o Use 1" margins on all sides, first line of all paragraphs is indented ½” from the margin
o Use 12 pt. Times New Roman font
Follow the outline provided above and use section headers to improve the readability of your paper. If I cannot read and understand it,
you will not earn credit for the content.
Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value
Participative management
style
Explains why a participative
management style led to greater
responsiveness to customers’
needs, increased accountability,
and more innovative solutions to
challenges.
Explains why a participative
management style led to greater
responsiveness to customers’ needs,
but does not explain how it
increased accountability, and more
innovative solutions to challenges.
Does not explains why a
participative management style
led to greater responsiveness to
customers’ needs, and does not
explain how it increased
accountability, and more
innovative solutions to
challenges. ...
Rukmini Akula D-12COLLAPSETop of FormNow a days various to.docxhealdkathaleen
Rukmini Akula
D-12
COLLAPSE
Top of Form
Now a days various tools are very commonly used for the aid designers, and some of the additional theories will also offer some of the analytical rigorous report to all the engineering designs, and concurrent engineering would be the one of the most practical method in order to improve the design process, and there are also some of the common tools, that are usually used in order to obtain the input from the stakeholders or from the business team in the organization, in the design process, in this process, some of the methods may be like pugh method, quality function, deployment, decision matrix techniques, and the analytical hierarchy process, and these are some of the methods in order to build the design process in the organization or in the company. And these tools also include relatively some of the high levels of the subjective judgement(K, 2017). Some of the additional set of tools also addresses the variability, quality, and also the uncertainty in the design process, and these tools are more analytical and are also typically combined to these processes which are used to produce the products(S, 2016). Still there are some other tools that are also used to generate the alternate designs for the designers who are working for the web application design for their organization or for their companies.
References:
Eades, K. (2017), "General Motors: 1991 Equity Financing", Darden Business Publishing Cases. https://doi.org/10.1108/case.darden.2016.000131.
Bongoni, R. and Basu, S. (2016), "A multidisciplinary research agenda for the acceptance of Golden Rice", Nutrition & Food Science, Vol. 46 No. 5, pp. 717-728.
Bottom of Form
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Ri ...
Operations Management MGT 320 – Spring 2020Additional As.docxamit657720
Operations Management MGT 320 – Spring 2020
Additional Assessment (11.5 %) – Chapter 3
Start Date: 26 April 2020 - 8:00 pm
Due Date: 21 May 2020 - 11:59 pm
(Note: please upload your answer on Moodle using Additional Assessment Submission Link)
Student Name:
Student ID:
Section:
1. Following table shows the sales of smart phones for the past several months. Use this data to answer the following questions.
Month
Products sold
3WMA Forecast
Exp. Smoothing Forecast
1
511
2
524
3
522
4
522
5
533
6
540
7
552
8
a. Find the forecast for month 8 using 3 month weighted moving average (3WMA) with weights (0.5, 0.3 and 0.2). The most recent day having the most weight. (15 Points)
b. Find the forecast for month 8 using exponential smoothing with the smoothing constant 0.2 (20 Points)
c. Compare the two methods using MSE as a measure of error. Which method is better for this data? (15 Points)
2. What does qualitative forecasting mean? When is qualitative forecasting used? Describe two qualitative techniques and indicate at least two advantages and two disadvantages for each technique. (30 Points)
3. Briefly describe the four components of time series data. (20 Points)
The End
1
Additional Assessment (11.5 %) Spring 2020
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a dive.
Operations Management MGT 320 – Spring 2020Additional As.docxmccormicknadine86
Operations Management MGT 320 – Spring 2020
Additional Assessment (11.5 %) – Chapter 3
Start Date: 26 April 2020 - 8:00 pm
Due Date: 21 May 2020 - 11:59 pm
(Note: please upload your answer on Moodle using Additional Assessment Submission Link)
Student Name:
Student ID:
Section:
1. Following table shows the sales of smart phones for the past several months. Use this data to answer the following questions.
Month
Products sold
3WMA Forecast
Exp. Smoothing Forecast
1
511
2
524
3
522
4
522
5
533
6
540
7
552
8
a. Find the forecast for month 8 using 3 month weighted moving average (3WMA) with weights (0.5, 0.3 and 0.2). The most recent day having the most weight. (15 Points)
b. Find the forecast for month 8 using exponential smoothing with the smoothing constant 0.2 (20 Points)
c. Compare the two methods using MSE as a measure of error. Which method is better for this data? (15 Points)
2. What does qualitative forecasting mean? When is qualitative forecasting used? Describe two qualitative techniques and indicate at least two advantages and two disadvantages for each technique. (30 Points)
3. Briefly describe the four components of time series data. (20 Points)
The End
1
Additional Assessment (11.5 %) Spring 2020
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a dive.
Scanned with CamScannerITS 835 enterprise risk managem.docxjeffsrosalyn
Scanned with CamScanner
ITS 835 enterprise risk management
Chapter 22
ERM - JAA Inc. –A Case Study in Creating Value from Uncertainty
University of Cumberlands
1
introduction
Business background
Initial steps
Evolution of Risk Management
Introduction of ISO 31000 and HB 436 to JAA
Bringing everything together
University of Cumberlands
2
Business background
JAA is a clothing wholesaler and retailer
Founded in 1972
Went public in 1998
Three operating segments
U.S. wholesale
U.S. retail
International (wholesale and retail)
57 retail stores in 10 countries
University of Cumberlands
3
Initial steps
Strategic objectives
Maintain market leadership
Sustain technology leadership
Strengthen global presence
Deliver quality service
A leader in compliance with all laws and regulation
Establish a governance system
Multiple committees, each with specific responsibilities
University of Cumberlands
4
Governance framework
University of Cumberlands
5
Evolution of risk management
Lack of strategic risk management led to many problems
Communication
Missed/lost opportunities
Lack of commitment to objectives
Declining quality
Identified gaps in risk management
Engaged in aggressive internal training
Soft skills
Team building
Management planning
University of Cumberlands
6
Introductions of iso 31000 and hb 436
JAA adopted ISO 31000
HB 436 provided extensive implementation guidance
ISO 31000 was basically an upgrade of the framework JAA was already using
ISO 31000 framework formalized JAA’s ERM
Defined organization and process
University of Cumberlands
7
Using context for risk criteria
University of Cumberlands
8
Bringing everyone together
University of Cumberlands
9
Risk map
University of Cumberlands
10
Risk attitude
University of Cumberlands
11
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and.
ITS 835Chapters 30, 31, 34Miscellaneous Case Studies on .docxvrickens
ITS 835
Chapters 30, 31, 34
Miscellaneous Case Studies on ERM and RIsk
Enterprise Risk Management
Professor Miguel Buleje
Overview
• Three case studies
• Alleged Corruption at Chessfield
• Bon Boulangerie
• Building an ERM Program at General Motors
• Different scenarios and organizations
• Useful in examining broader implications
• Look for similarities
Alleged Corruption at Chessfield
• Chessfield
• Fictional private American company in sports and entertainment
• HQ in NYC
• “Good ol’ boys” board
• Informal governance
• Whistle-blower
• CEO compensation very high (4x comparable peers)
• Potential environment for excessive risk taking
• Chessfield CEO requested independent governance
review
Chessfield, cont’d.
• Review included
• Document review – minimal documentation
• Interviews – substantial discontent and lack of confidence in
leadership
• CEO compensation
• Limited documentation to support decision
• Basis seemed to be long relationship with decision makers
• Industry standard metrics missing
• Risk management
• Few risk management protocols or controls
• Most processes were manual (i.e. no IT)
Chessfield, cont’d.
• Review resulted in 45 recommendations
• 43 from reviewer
• 2 added by regulator
• All but 2 recommendations were accepted, which were
• 3 longest serving board member resign
• A female be selected for directorship and compensation
committee
• Identify broad implications of this case
Bon Boulangerie
• Bakery in Oakville, Ontario
• When purchased, single site retail and café
• Ray Pane added wholesale operation
• Plan to expand wholesale business
• From 20km to 120km coverage
• Include grocery stores
• Add product line
• Goal: triple profits in 3 years
• What are the operational risks?
Building an ERM Program at General
Motors
• Background
• GM approach to ERM
• Game theory
• Looking forward
ERM at GM Background
• ERM program began in 2010
• ERM to help achieve competitive advantage
• New CEO
• GM bankruptcy in 2009
• CRO appointed
• Financial and Risk Policy Committee formed
• Risk officers identified and aligned to all CEO direct
reports
• GM embraced aggressive ERM
GM Approach to ERM
• ERM built on GM’s vision
• Design, build, and sell the world’s best vehicles
• Identify and manage key risks
• Bottom-up approach
• Focus on “what can go right”
• Lessons learned
• Gave responsibility of assessing risk probability and impact to senior
executives
• Replaced ranked risk list with tiered list
• Implemented a 5 point scale to measure
• Inherent risk
• Current risk
• Residual risk
Game Theory
Looking Forward
• Top risk attention in place
• Ready to add focus on day-to-day operational risks
• Developing program for operational control self-
assessment (CSA)
• Approach is a policy-based CSA
• Starts with simple yes-no questions to line managers
• Benefits of a policy-based program
• Policy can be leveraged to ensure results
• Helps to educ ...
Grading Rubric
F
F
C
B
A
0
1
2
3
4
Not Submitted
No Pass
Competence
Proficiency
Mastery
Not Submitted
The reference list is incomplete.
The reference list contains references, but there are APA format issues.
The reference list is complete and APA format is correct, but include references older than five years.
The reference list is complete, formatted correctly in APA, and the references are within the past five years.
Not Submitted
The reference list contains little relevant quality management references.
The reference list contains an adequate amount of relevant quality management references, but all sources lack credibility.
The reference list contains adequate amount of relevant quality management references, but some sources lack credibility.
The reference list contains substantial (6+) quality management references of high credibility.
Not Submitted
The reference list contains few relevant quality measure references.
The reference list contains an adequate amount of relevant quality measure references, but all sources lack credibility.
The reference list contains adequate amount of relevant quality measure references, but some sources lack credibility.
The reference list contains substantial (6+) quality measure references of high credibility.
Not Submitted
The submission contains a loose description explaining the process used.
The submission contains a minimal description explaining the process used and some search criteria descriptors.
The submission contains a good description explaining the process and search criteria descriptors.
The submission contains a clear description including fully showcased and explained search criteria descriptors.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Manageme ...
BUSB342 - International BusinessCore Concepts· International.docxjasoninnes20
BUSB342 - International Business
Core Concepts
· International Business
· International Strategy
· Corporate Social Responsibility (CSR)
· Sustainable strategies
· International Market research
· Cultures
· Brick-and-mortar
· Pull Strategy
· Entrepreneurs
· Creating Value
· Profit Growth
· Common Laws
· Political Risk
· Supply Chain Management
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to Controls
“For those who still think that enterprise risk management is just a fad, the varied
examples of practical value-generating uses contained in this book should dispel
any doubt that the d ...
ITS 835 Module One Essay Guidelines and Rubric Topic C.docxvrickens
ITS 835 Module One Essay Guidelines and Rubric
Topic: Chapter 7 – “Turning the Organizational Pyramid Upside Down Ten Years of Evolution in Enterprise Risk Management at United Grain
Growers”
Overview: Few companies stand out as successful pioneers in enterprise risk management (ERM), especially one that undertook the initiative
almost 15 years ago. One such ERM pioneer was United Grain Growers (UGG), a conservative 100-year-old Winnipeg, Canada– based grain
handler and distributor of farm supplies. Review the case study in Chapter Seven (7) of the textbook to understand the details of their ERM
journey.
Answer the following questions regarding this case study:
1. Why does a more participative management style (“tipping the pyramid over”) lead to greater responsiveness to customers' needs,
increased accountability, and more innovative solutions to challenges than a hierarchical “command and control” structure?
2. Under what circumstances might the hierarchical “command and control” structure produce superior results?
3. What factors do you believe led UGG/ AU to be pioneers in ERM? Was it the industry/ company/ history/ circumstances? Was it a
changed organizational “culture” or perhaps good management? Describe the leading factor(s) in your response.
Guidelines for Submission: Using APA 6th edition style standards, submit a Word document that is 2-4 pages in length (excluding title page,
references, and appendices) and include at least two credible scholarly references to support your findings. The UC Library is a good place to find
these sources. Be sure to cite and reference your work using the APA guides and essay template that are located in the courseroom.
Required elements:
Please ensure your paper complies APA 6th edition style guidelines. There is an essay template located under the Information link.
APA basics:
o Your essay should be typed, double-spaced on standard-sized paper (8.5" x 11")
o Use 1" margins on all sides, first line of all paragraphs is indented ½” from the margin
o Use 12 pt. Times New Roman font
Follow the outline provided above and use section headers to improve the readability of your paper. If I cannot read and understand it,
you will not earn credit for the content.
Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value
Participative management
style
Explains why a participative
management style led to greater
responsiveness to customers’
needs, increased accountability,
and more innovative solutions to
challenges.
Explains why a participative
management style led to greater
responsiveness to customers’ needs,
but does not explain how it
increased accountability, and more
innovative solutions to challenges.
Does not explains why a
participative management style
led to greater responsiveness to
customers’ needs, and does not
explain how it increased
accountability, and more
innovative solutions to
challenges. ...
Rukmini Akula D-12COLLAPSETop of FormNow a days various to.docxhealdkathaleen
Rukmini Akula
D-12
COLLAPSE
Top of Form
Now a days various tools are very commonly used for the aid designers, and some of the additional theories will also offer some of the analytical rigorous report to all the engineering designs, and concurrent engineering would be the one of the most practical method in order to improve the design process, and there are also some of the common tools, that are usually used in order to obtain the input from the stakeholders or from the business team in the organization, in the design process, in this process, some of the methods may be like pugh method, quality function, deployment, decision matrix techniques, and the analytical hierarchy process, and these are some of the methods in order to build the design process in the organization or in the company. And these tools also include relatively some of the high levels of the subjective judgement(K, 2017). Some of the additional set of tools also addresses the variability, quality, and also the uncertainty in the design process, and these tools are more analytical and are also typically combined to these processes which are used to produce the products(S, 2016). Still there are some other tools that are also used to generate the alternate designs for the designers who are working for the web application design for their organization or for their companies.
References:
Eades, K. (2017), "General Motors: 1991 Equity Financing", Darden Business Publishing Cases. https://doi.org/10.1108/case.darden.2016.000131.
Bongoni, R. and Basu, S. (2016), "A multidisciplinary research agenda for the acceptance of Golden Rice", Nutrition & Food Science, Vol. 46 No. 5, pp. 717-728.
Bottom of Form
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Ri ...
Operations Management MGT 320 – Spring 2020Additional As.docxamit657720
Operations Management MGT 320 – Spring 2020
Additional Assessment (11.5 %) – Chapter 3
Start Date: 26 April 2020 - 8:00 pm
Due Date: 21 May 2020 - 11:59 pm
(Note: please upload your answer on Moodle using Additional Assessment Submission Link)
Student Name:
Student ID:
Section:
1. Following table shows the sales of smart phones for the past several months. Use this data to answer the following questions.
Month
Products sold
3WMA Forecast
Exp. Smoothing Forecast
1
511
2
524
3
522
4
522
5
533
6
540
7
552
8
a. Find the forecast for month 8 using 3 month weighted moving average (3WMA) with weights (0.5, 0.3 and 0.2). The most recent day having the most weight. (15 Points)
b. Find the forecast for month 8 using exponential smoothing with the smoothing constant 0.2 (20 Points)
c. Compare the two methods using MSE as a measure of error. Which method is better for this data? (15 Points)
2. What does qualitative forecasting mean? When is qualitative forecasting used? Describe two qualitative techniques and indicate at least two advantages and two disadvantages for each technique. (30 Points)
3. Briefly describe the four components of time series data. (20 Points)
The End
1
Additional Assessment (11.5 %) Spring 2020
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www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a dive.
Operations Management MGT 320 – Spring 2020Additional As.docxmccormicknadine86
Operations Management MGT 320 – Spring 2020
Additional Assessment (11.5 %) – Chapter 3
Start Date: 26 April 2020 - 8:00 pm
Due Date: 21 May 2020 - 11:59 pm
(Note: please upload your answer on Moodle using Additional Assessment Submission Link)
Student Name:
Student ID:
Section:
1. Following table shows the sales of smart phones for the past several months. Use this data to answer the following questions.
Month
Products sold
3WMA Forecast
Exp. Smoothing Forecast
1
511
2
524
3
522
4
522
5
533
6
540
7
552
8
a. Find the forecast for month 8 using 3 month weighted moving average (3WMA) with weights (0.5, 0.3 and 0.2). The most recent day having the most weight. (15 Points)
b. Find the forecast for month 8 using exponential smoothing with the smoothing constant 0.2 (20 Points)
c. Compare the two methods using MSE as a measure of error. Which method is better for this data? (15 Points)
2. What does qualitative forecasting mean? When is qualitative forecasting used? Describe two qualitative techniques and indicate at least two advantages and two disadvantages for each technique. (30 Points)
3. Briefly describe the four components of time series data. (20 Points)
The End
1
Additional Assessment (11.5 %) Spring 2020
www.it-ebooks.info
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www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a dive.
Scanned with CamScannerITS 835 enterprise risk managem.docxjeffsrosalyn
Scanned with CamScanner
ITS 835 enterprise risk management
Chapter 22
ERM - JAA Inc. –A Case Study in Creating Value from Uncertainty
University of Cumberlands
1
introduction
Business background
Initial steps
Evolution of Risk Management
Introduction of ISO 31000 and HB 436 to JAA
Bringing everything together
University of Cumberlands
2
Business background
JAA is a clothing wholesaler and retailer
Founded in 1972
Went public in 1998
Three operating segments
U.S. wholesale
U.S. retail
International (wholesale and retail)
57 retail stores in 10 countries
University of Cumberlands
3
Initial steps
Strategic objectives
Maintain market leadership
Sustain technology leadership
Strengthen global presence
Deliver quality service
A leader in compliance with all laws and regulation
Establish a governance system
Multiple committees, each with specific responsibilities
University of Cumberlands
4
Governance framework
University of Cumberlands
5
Evolution of risk management
Lack of strategic risk management led to many problems
Communication
Missed/lost opportunities
Lack of commitment to objectives
Declining quality
Identified gaps in risk management
Engaged in aggressive internal training
Soft skills
Team building
Management planning
University of Cumberlands
6
Introductions of iso 31000 and hb 436
JAA adopted ISO 31000
HB 436 provided extensive implementation guidance
ISO 31000 was basically an upgrade of the framework JAA was already using
ISO 31000 framework formalized JAA’s ERM
Defined organization and process
University of Cumberlands
7
Using context for risk criteria
University of Cumberlands
8
Bringing everyone together
University of Cumberlands
9
Risk map
University of Cumberlands
10
Risk attitude
University of Cumberlands
11
www.it-ebooks.info
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www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and.
ITS 835Chapters 30, 31, 34Miscellaneous Case Studies on .docxvrickens
ITS 835
Chapters 30, 31, 34
Miscellaneous Case Studies on ERM and RIsk
Enterprise Risk Management
Professor Miguel Buleje
Overview
• Three case studies
• Alleged Corruption at Chessfield
• Bon Boulangerie
• Building an ERM Program at General Motors
• Different scenarios and organizations
• Useful in examining broader implications
• Look for similarities
Alleged Corruption at Chessfield
• Chessfield
• Fictional private American company in sports and entertainment
• HQ in NYC
• “Good ol’ boys” board
• Informal governance
• Whistle-blower
• CEO compensation very high (4x comparable peers)
• Potential environment for excessive risk taking
• Chessfield CEO requested independent governance
review
Chessfield, cont’d.
• Review included
• Document review – minimal documentation
• Interviews – substantial discontent and lack of confidence in
leadership
• CEO compensation
• Limited documentation to support decision
• Basis seemed to be long relationship with decision makers
• Industry standard metrics missing
• Risk management
• Few risk management protocols or controls
• Most processes were manual (i.e. no IT)
Chessfield, cont’d.
• Review resulted in 45 recommendations
• 43 from reviewer
• 2 added by regulator
• All but 2 recommendations were accepted, which were
• 3 longest serving board member resign
• A female be selected for directorship and compensation
committee
• Identify broad implications of this case
Bon Boulangerie
• Bakery in Oakville, Ontario
• When purchased, single site retail and café
• Ray Pane added wholesale operation
• Plan to expand wholesale business
• From 20km to 120km coverage
• Include grocery stores
• Add product line
• Goal: triple profits in 3 years
• What are the operational risks?
Building an ERM Program at General
Motors
• Background
• GM approach to ERM
• Game theory
• Looking forward
ERM at GM Background
• ERM program began in 2010
• ERM to help achieve competitive advantage
• New CEO
• GM bankruptcy in 2009
• CRO appointed
• Financial and Risk Policy Committee formed
• Risk officers identified and aligned to all CEO direct
reports
• GM embraced aggressive ERM
GM Approach to ERM
• ERM built on GM’s vision
• Design, build, and sell the world’s best vehicles
• Identify and manage key risks
• Bottom-up approach
• Focus on “what can go right”
• Lessons learned
• Gave responsibility of assessing risk probability and impact to senior
executives
• Replaced ranked risk list with tiered list
• Implemented a 5 point scale to measure
• Inherent risk
• Current risk
• Residual risk
Game Theory
Looking Forward
• Top risk attention in place
• Ready to add focus on day-to-day operational risks
• Developing program for operational control self-
assessment (CSA)
• Approach is a policy-based CSA
• Starts with simple yes-no questions to line managers
• Benefits of a policy-based program
• Policy can be leveraged to ensure results
• Helps to educ ...
Grading Rubric
F
F
C
B
A
0
1
2
3
4
Not Submitted
No Pass
Competence
Proficiency
Mastery
Not Submitted
The reference list is incomplete.
The reference list contains references, but there are APA format issues.
The reference list is complete and APA format is correct, but include references older than five years.
The reference list is complete, formatted correctly in APA, and the references are within the past five years.
Not Submitted
The reference list contains little relevant quality management references.
The reference list contains an adequate amount of relevant quality management references, but all sources lack credibility.
The reference list contains adequate amount of relevant quality management references, but some sources lack credibility.
The reference list contains substantial (6+) quality management references of high credibility.
Not Submitted
The reference list contains few relevant quality measure references.
The reference list contains an adequate amount of relevant quality measure references, but all sources lack credibility.
The reference list contains adequate amount of relevant quality measure references, but some sources lack credibility.
The reference list contains substantial (6+) quality measure references of high credibility.
Not Submitted
The submission contains a loose description explaining the process used.
The submission contains a minimal description explaining the process used and some search criteria descriptors.
The submission contains a good description explaining the process and search criteria descriptors.
The submission contains a clear description including fully showcased and explained search criteria descriptors.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Manageme ...
BUSB342 - International BusinessCore Concepts· International.docxjasoninnes20
BUSB342 - International Business
Core Concepts
· International Business
· International Strategy
· Corporate Social Responsibility (CSR)
· Sustainable strategies
· International Market research
· Cultures
· Brick-and-mortar
· Pull Strategy
· Entrepreneurs
· Creating Value
· Profit Growth
· Common Laws
· Political Risk
· Supply Chain Management
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to Controls
“For those who still think that enterprise risk management is just a fad, the varied
examples of practical value-generating uses contained in this book should dispel
any doubt that the d ...
BUSB342 - International BusinessCore Concepts· International.docxfelicidaddinwoodie
BUSB342 - International Business
Core Concepts
· International Business
· International Strategy
· Corporate Social Responsibility (CSR)
· Sustainable strategies
· International Market research
· Cultures
· Brick-and-mortar
· Pull Strategy
· Entrepreneurs
· Creating Value
· Profit Growth
· Common Laws
· Political Risk
· Supply Chain Management
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to Controls
“For those who still think that enterprise risk management is just a fad, the varied
examples of practical value-generating uses contained in this book should dispel
any doubt that the d.
ITS 835 Module Three Essay Guidelines and Rubric Topic .docxvrickens
ITS 835 Module Three Essay Guidelines and Rubric
Topic: Chapter 14 – “A Strategic Approach to Enterprise Risk Management at Zurich Insurance Group”
Overview: This case study focuses on how Zurich uses a variety of methodologies and tools to manage its business risk. Zurich's risk profiling is a
focused and disciplined approach to identifying, assessing, and monitoring holistic risks and improvement actions needed. By embedding this
methodology into its risk culture, this has helped ensure its risk management culture is consistent and effective across its various business units.
More information on Zurich's Strategic Risk Management work can be found at https://www.zurichna.com/en/risk
Review the case study in Chapter 14 of the textbook.
Please explain the following:
1. How do Zurich ERM tools help them better understand their existing and emerging risks?
2. How are Zurich’s risk roles and responsibilities impacting their risk culture?
3. Provide at least two examples of how Zurich has created new value through their ERM program.
Guidelines for Submission: Using APA 6th edition style standards, submit a Word document that is 2-4 pages in length (excluding title page,
references, and appendices) and include at least two credible scholarly references to support your findings. The UC Library is a good place to find
these sources. Be sure to cite and reference your work using the APA guides and essay template that are located in the courseroom.
Required elements:
Please ensure your paper complies APA 6th edition style guidelines. There is an essay template located under the Information link.
APA basics:
o Your essay should be typed, double-spaced on standard-sized paper (8.5" x 11")
o Use 1" margins on all sides, first line of all paragraphs is indented ½” from the margin
o Use 12 pt. Times New Roman font
Follow the outline provided above and use section headers to improve the readability of your paper. If I cannot read and understand it,
you will not earn credit for the content.
https://www.zurichna.com/en/risk
Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value
Zurich ERM tools
Explains how Zurich’s ERM tools
help them better understand their
existing and emerging risks.
Provides short explanation of how
Zurich’s ERM tools help them better
understand their existing and
emerging risks. Explanation lacks
detail.
Does not explain how Zurich’s
ERM tools help them better
understand their existing and
emerging risks.
30
Zurich’s risk roles and
responsibilities
Describes how Zurich’s risk roles
and responsibilities impacting their
risk culture.
Provides short description of how
Zurich’s risk roles and responsibilities
impacting their risk culture.
Explanation lacks detail.
Does not describe how Zurich’s
risk roles and responsibilities
impacting their risk culture.
30
Examples that have created
new value through ERM
Provides example ...
Running head COMPANY SELECTION1COMPANY SELECTION4CO.docxhealdkathaleen
Running head: COMPANY SELECTION
1
COMPANY SELECTION
4
COMPANY SELECTION (Amazon)
Company Selection
Amazon Organization Background
According to the studies, Amazon is one of the multinational companies based in the USA. Its headquarters are located in Seattle, Washington. Amazon operates in the e-commerce business, digital streaming, and cloud computing and artificial intelligence. Recent news indicates that Amazon has had various organizational issues, especially on the leadership aspect (Ott, 2012).
Organization issues in Amazon
Insensitive management. Reports reveal that the employees with different personal hardships such as miscarriages, cancer and other personal problems were significantly faced with unfair judgements. Others were given limited time to recover from their issues, which created a lot of issues for the employees.
Unfair ranking system. The Amazon management holds annual organizational-level reviews to discuss and determine the ranking of the subordinates. The reviews start with a discussion concerning the lower-level employees in front of the senior managers. Consequently, the king of review system employees in the raking system is not correct. It leads to the discrimination of some employees while favoring others.
Lack of benefits. Benefits are essential in any company to boost the motivation of the workers. However, Amazon fails to provide its employees with benefits such as meals, personal wellness and other critical benefits that can motivate the employees. Hence, Amazon gives no priority to its workers. Instead, the new employees are required to repay a share of their signing bonus if one quits before the years’ time. Such acts are discriminative.
Why do such issues hinder Amazon organizational efficiency?
Organizational issues contribute to organization controversies. The organization issues in Amazon provides to workers turn over. Besides, an unfair ranking system contributes to a poor relationship between the management and the workers. Also, the lack of benefits lowers the morale of the workers, thus reducing organizational productivity (Robbins & Judge, 2012). Hence, for an organization to succeed ant attain its set objective organizational issues should be avoided.
References
Ott, J. S. (2012). The organizational culture perspective (pp. 221-243). Chicago: Dorsey Press.
Robbins, S. P., & Judge, T. (2012). Essentials of organizational behavior.
www.it-ebooks.info
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www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the ...
Sources and Resources for RC004Informed Advocacy in Early .docxrosemariebrayshaw
Sources and Resources for RC004
Informed Advocacy in Early Childhood Care and Education: Making a Difference for Young Children and Families, pp. 107-111
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-628&srcou=6738
WEBSITE: KIDS COUNT DATA CENTER
http://datacenter.kidscount.org/topics
KIDS COUNT Data Center
Annie E. Casey Foundation. (2014). KIDS COUNT data center: Data topics. Retrieved from http://datacenter.kidscount.org/topics
WEBSITE: NATIONAL AND STATE FACTS
http://www.cwla.org/our-work/advocacy/
WEBSITE: U.S. CHILD STATE DATA
http://www.cwla.org/our-work/advocacy/
WEBSITE: DATA TOOLS
http://www.nccp.org/tools/
Consider how this information will be beneficial within the context of Part 1 of your Work Product.
WEBSITE: ASSOCIATION FOR CHILDHOOD EDUCATION INTERNATIONAL
http://www.acei.org/
WEBSITE: DIVISION FOR EARLY CHILDHOOD
http://www.dec-sped.org/
WEBSITE: INTERNATIONAL READING ASSOCIATION
http://www.reading.org/
WEBSITE: NATIONAL ASSOCIATION FOR THE EDUCATION OF YOUNG CHILDREN
http://www.naeyc.org/
WEBSITE: NATIONAL BLACK CHILD DEVELOPMENT INSTITUTE
http://www.nbcdi.org/
BOOK EXCERPT: DEVELOPING INITIATIVES
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-640&srcou=6738
The following links lead to early childhood advocacy initiatives that focus on social change on behalf of children, families, and the early childhood field.
WEBSITE: WORLDWIDE TEACHER SHORTAGE: REGIONAL AND GLOBAL IMPLICATIONS
http://www.businessinsider.com/theres-a-massive-global-teacher-shortage-2016-10
WEBSITE: LEGISLATIVE HOT TOPICS
https://www.literacyworldwide.org/
WEBSITE: TAKEN ACTION NOW
http://www.naeyc.org/policy/action
WEBSITE: WHAT WE DO: POLICY
http://www.nbcdi.org/what-we-do/policy
BOOK EXCERPT: COMPREHENSIVE DEVELOPMENTAL SCREENING
As you read this information and the Guided Notes , consider how these apply to Part 2 and Part 3 of your Work Product.
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-647&srcou=6738
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-747&srcou=6738
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-2320&srcou=6738
This information is beneficial in the context of Part 2 and Part 3 of your Work Product.
ARTICLE: HOW TO BE A VOICE FOR BABIES: USING DATA TO ADVOCATE EFFECTIVELY
https://www.zerotothree.org/resources/496-how-to-use-data-to-advocate-effectively
ARTICLE: EFFECTIVE COMMUNICATION ABOUT THE EARLY YEARS: UNDERSTANDING THE BASICS OF FRAMING
https://www.zerotothree.org/resources/482-understand-the-basics-of-framing-to-communicate-effectively
ARTICLE: EFFECTIVE COMMUNICATION ABOUT THE EARLY YEARS: THE ELEMENTS OF THE FRAME: PART ONE
https://www.zerotothree.org/resources/483-the-elements.
Weekly Article #3
77 unread replies.77 replies.
Class -
You are required to analyze an online research and select any article related to the following topics,
- A comprehensive model of entrepreneurship- Five entrepreneurial strategies
Each student will locate and review an article relevant to the topic of the class. The review is between 400-to-550 words and should summarize the article. Please include how it applies to our topic, and why you found it interesting. Please post the text in the Discussion Board by Friday . No attachments, please.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incent ...
ERM Implementation ERM is essential for organizations.docxelbanglis
ERM Implementation
ERM is essential for organizations in managing risks and improve on opportunities related to the achievement of organizational objectives. Statoil and United Grain Growers have established an enterprise risks management that meets their company goals based on the challenges each of them is facing.
The primary difference between ERM in Statoil and United Grain Growers is that ERM will affect management at the latter. Additionally, ERM at United Grain Growers seeks to retrieve the company from financial constraints while at Statoil, ERM seeks to improve organizational performance. However, ERM at the two companies share some similarities. For instance, ERM at United Grain Growers seeks to identify and access principle risks. The same applies to Statoil which seeks to identify any potential risks during the exercise. Besides, the two companies have a strategic risk plan. A strategic plan is essential as it outlines the role of a manager, CEO and everyone involved in the steps of an ERM (Robert and Liebenberg, 2011). United Grain growers has a strategic plan to improve financial dividends while Statoil has a risk map and committee with outlined roles and responsibilities.
The Statoil ERM seems workable and productive meaning I can implement it is it were up to me. On the contrary, I will not implement the United Grain Growers ERM. In my opinion, the ERM lacks the potential to solve financial constraints that the company is experiencing. However, some parts of it are productive, but a merger comes in with other risks for the struggling company. For instance, a merger will lead to employee layoff which might put the company at a risk of losing some important skills (Chui, 2011). Additionally, the company assets might be miscalculated during financial evaluation leading to more losses.
Generally, the ERM at Statoil might be successful in future because it is based on company goals and values. On the contrary, UGG ERM might not succeed because there are many risks associated with its strategy for implementation.
References
Chui, B.S. 2011. A Risk Management Model for Merger and Acquisition.
Robert, E.H. and Liebenberg, A.P. (2011). The Value of Enterprise Risk Management. The
Journal of Risk and Insurance, 78(4).pp. 795-822.
https://doi.org/10.1111/j.15396975.2011.01413.x
According to Brustbauer, 2016 Enterprise risk management help the company prepare for the uncertainties and disasters that may occur all along. Every business must identify the threats likely to face the business and come up with a contingency plan. Different companies faces different threats and uncertainties and therefore while coming up with the risk management plan one must consider the uniqueness of the enterprise and the likely threats to occur. These differences make the companies and business have different hierarchy of risks that are likely to occur. This paper is going to compare and contrast the enterprise risk management of the united g ...
Week 5 Post-Course Assessment Quiz
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to Controls
“For those who still think that enterprise risk management is just a fad, the varied
examples of practical value-generating uses contained in this book should dispel
any doubt that the discipline is here to stay! The broad collection of practices is
insightful for students, academics, and executives, as well as seasoned risk man-
agement professionals.”
—Carol Fox, ARM, director of Strategic and Enterprise Risk Practice, RIMS
“Managing risk across the enterprise is the new frontie ...
Discussion- 11. How does efficient frontier analysis (EFA) dif.docxmadlynplamondon
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 ...
Student 1 The main intention of this framework is to support .docxcpatriciarpatricia
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.
Chukss StrengthsShare your strengths twitterfacebook.docxmccormicknadine86
Chuks's Strengths
Share your strengths
twitter
facebook
Chuks - What makes you unique? Go learn more about your top Strengths below.
RANK
STRENGTH
1
Connectedness
LEARN MORE
RELATIONSHIP BUILDING
People who are especially talented in the Connectedness theme have faith in the links between all things. They believe there are few coincidences and that almost every event has a reason.
2
Includer
LEARN MORE
RELATIONSHIP BUILDING
People who are especially talented in the Includer theme are accepting of others. They show awareness of those who feel left out, and make an effort to include them.
3
Self-Assurance
LEARN MORE
INFLUENCING
People who are especially talented in the Self-Assurance theme feel confident in their ability to manage their own lives. They possess an inner compass that gives them confidence that their decisions are right.
4
Belief
LEARN MORE
EXECUTING
People who are especially talented in the Belief theme have certain core values that are unchanging. Out of these values emerges a defined purpose for their life.
5
Responsibility
LEARN MORE
EXECUTING
People who are especially talented in the Responsibility theme take psychological ownership of w
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
...
Narayana Rao Mahankali Week 11 - DiscussionCOLLAPSETop of Fo.docxvannagoforth
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 ...
ITS 835Chapter 12Measuring Performance at mariuse18nolet
ITS 835
Chapter 12
Measuring Performance at Intuit
Enterprise Risk Management
Dr. James C. Hyatt
Miguel Buleje
Introduction
Intuit’s ERM Journey
ERM Maturity Model
Benefits of Measuring Performance in ERM Models
ERM Performance Measurement and Reporting
Conclusion
Intuit’s ERM Journey
INTRO to Intuit: Biz and Financial Software Corporation. Offerings include QuickBooks, Quicken, Turbo Tax
Began with ad hoc risk management
Very common entry point
Escalated to ERM when seminal event occurred
Desire was to stop firefighting and start prevention.
Proactive approach, as resources were pulled from Operations
Intuit ERM Core Principles
Enterprise-wide risk framework
Risk assessment is ongoing
Focus on most significant risks
Ownership and accountability
Measure and monitor performance
ERM Maturity Model
Risk Management Maturity Model
Stakeholders Value increases as Risk Management Capability Increase
Ad Hoc Risk Management - Starting Point
Targeted Risk Management – progress and next step. More proactive. Organized.
Integrated Risk Framework – Really taking this the next level with formal framework. Value starts to increase
Risk Intelligence - Feedback loop. Really taking advantage to predict, and use intelligence to take action.
Risk Leadership – Move from Reactive to Proactive. Optimize and Capitalize positive outcomes around risk.
4
Benefits of Measuring Performance in ERM Models
Key Performance Indicators (KPI)
Based on business objectives
Quantitative and qualitative KPI
Leading (looking into future/ predictive approach) and
Lagging (trending / historical performance) indicators
Input, process, and output indicators ( optimized for end to end processes).
KPIs must be
Tangible
Flexible
Standardized
Outcome or objective focused
ERM Performance Measurement and Reporting
First evolution - ERM process adoption
Second evolution – Risk Mitigation Process Management
Third Evolution – Multidimensional Risk Management Performance Measurement
Outcome: executive dashboard for reporting.
ERM Process Adoption
7
Risk Mitigation Process Management
Multidimensional Risk Management Performance Measurement
3er Evolution
Culmination of INTUIT enterprise risk management: Dashboards
KPI status by risk.
Clear where attention goes, by Risk .
They do not care about green. Focus on Reds and Yellow.
At a glance exes are able to determine what risk would cause issues.
9
Conclusion
At Intuit, risk management is everyone’s responsibility
ERM must be a core business competency
Coordination is a key to success
ERM Recognizes
Upside opportunity
Downside risk
ERM process is regularly audited
ERM is an integral part of Intuit’s operating model
Sheet1TitleYearLengthViolence timeInjuriesFatal injuriesGood/neutral injuriesGood/neutral fatalitiesBad injuriesBad fatalitiesSnow White and the Seven Dwarfs19375040474211011Fantasia19407200307111100Pinoc ...
Gandu Discussion-14COLLAPSETop of FormThe ERM implementati.docxshericehewat
Gandu
Discussion-14
COLLAPSE
Top of Form
The ERM implementation at Workers’ Compensation Fund and Zurich Insurance Group are similar in many ways. For example, both organizations have an established Chief Risk Officer (CRO) with distinct roles. The CRO position at Workers’ Compensation Fund was established in 2010, and the purpose of the office was to develop and monitor the organization’s ERM strategy, processes, and policies as directed by the CEO, the Risk Oversight Committee, and the Board (Fraser, Simkins, and Narvaez, 2014, p. 209-10). Zurich Insurance Group also has a CRO whose central role is to provide the CEO, the Board, and the Risk Committee with risk-related information (Fraser et al., 2014, p. 258-59). Besides having similar roles, the CROs of both organizations report to the same authorities.
Both organizations also have an independent risk audit. At the Workers’ Compensation Fund, auditing is external, and the CRO introduced it in 2011 as a "third-party review” (Fraser et al., 2014, p. 215). Similarly, Zurich Insurance Group consults external expertise on risk matters. For example, the company seeks external knowledge from the Natural Catastrophe Advisory Council (Fraser et al., 2014, p. 261). Zurich Insurance Group, however, has an internal audit function that forms the "third line of defense" in its risk governance approach (p. 256). Another aspect that is conspicuously similar between the two organizations is the role of the Board in ERM. Both companies have a risk committee made up of board members. Workers’ Compensation Fund, the board’s ERM functions are carried out through the Risk Oversight Committee. At Zurich Insurance Group, a Board-level Risk Committee exists, and it defines the Board's Role in ERM. Also, ERM is considered a part of all business operations, including strategic planning and budgeting.
The implementation of ERM depends on the size of an organization and the level of risks it faces. In implementing an ERM, I would follow the strategies used by these two organizations because they offer a clear path to achieving ERM. A step-by-step process used to implement ERM is depicted, and it is initiated and governed by not only the CRO but also the CEO and the Board. In the future, ERM implementation will get better. New risk assessment matrices will make risk identification more comfortable, and the role of CRO's will become easier when all members of the organization, including CEOs and the Board of Directors, assume active roles in ERM implementation.
Reference
Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons.
Bottom of Form
Thumma
Discussion
COLLAPSE
Top of Form
The initial phase in making a successful hazard the executives framework is to comprehend the subjective differentiations among the kinds of dangers that associations face. Our field explore shows that dangers can be categorized as one of three classificatio ...
Running Head: FOOTPRINT
1
FOOTPRINT 2
Footprint
Data
Course
Date of Submission
ECOLOGICAL FOOTPRINT
Hectares:
2
# Earths:
1
Top 3 Consumption Categories:
Processed meat
Car use
Flight hours
CARBON FOOTPRINT
Carbon Emissions (lbs):
0.524
WATER FOOTPRINT
Gallons per day:
90
Top 3 Contributors:
Meat
Soybean
Rice
As I conducted my research on ecological footprint, I realized that my consumption way high than it should be. From the research, I realized that I require an approximate of 10 GHA to aid me in realizing what requires to be carried out to lead to a reduced footprint. Carrying out the assignment helped me to realize that I personally have a huge impact on the environment and the resultant effects of environmental degradation. The most shocking I learned through this project is the fact that consuming processed foods played a huge role in increasing my footprint. I will embrace using local foods and prepare my own meat and beer instead of buying the processed ones. The research made me believe that as humans, we should use more of the products based on animals instead of depending on the processed ones. To get the most suitable and accurate calculations, I will keep a close track of my usage of the meat and other locally produced products. The research made me think that we, as humans, are failing at protecting the environment. If we fail to be keen at protecting it, the earth will not b enough for us to live in.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable ...
Running Head: FOOTPRINT
1
FOOTPRINT 2
Footprint
Data
Course
Date of Submission
ECOLOGICAL FOOTPRINT
Hectares:
2
# Earths:
1
Top 3 Consumption Categories:
Processed meat
Car use
Flight hours
CARBON FOOTPRINT
Carbon Emissions (lbs):
0.524
WATER FOOTPRINT
Gallons per day:
90
Top 3 Contributors:
Meat
Soybean
Rice
As I conducted my research on ecological footprint, I realized that my consumption way high than it should be. From the research, I realized that I require an approximate of 10 GHA to aid me in realizing what requires to be carried out to lead to a reduced footprint. Carrying out the assignment helped me to realize that I personally have a huge impact on the environment and the resultant effects of environmental degradation. The most shocking I learned through this project is the fact that consuming processed foods played a huge role in increasing my footprint. I will embrace using local foods and prepare my own meat and beer instead of buying the processed ones. The research made me believe that as humans, we should use more of the products based on animals instead of depending on the processed ones. To get the most suitable and accurate calculations, I will keep a close track of my usage of the meat and other locally produced products. The research made me think that we, as humans, are failing at protecting the environment. If we fail to be keen at protecting it, the earth will not b enough for us to live in.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable .
ITS 835 enterprise risk managementChapter 26-29Review of 4 M.docxvrickens
ITS 835 enterprise risk management
Chapter 26-29
Review of 4 Mini case studies on ERM and Risk
University of Cumberlands
1
overview
Collection of four mini-cases
Leaves open ended questions
Presents real life situations
And needs for ERM
Mini-Cases
BimConsultants Inc.
Nerds Galore
The Reluctant General Counsel
Transforming Risk Management at Akawini Copper
University of Cumberlands
2
Bim Consultants Inc.
Consulting firm
10 offices in Canada
3,000 staff
30 partners
“Customers are number one”
But revenue is stagnant
Opportunity to buy out competitor
Purchase would double size and sales
Negotiations must be kept confidential
University of Cumberlands
3
Nerds galore
Canadian IT service company
12 offices
1,000 employees
Grew from founder’s garage
Shift from small start-ups to medium size customers
High turnover of 20% is causing concern
Decreasing customer satisfaction
Steady revenue (for now)
Strategy from new HR VP
Attract the best talent
Retain good people
Manage talent
Optimize the use of people
Rely on outsourcers
Executive team workshop to explore HR risks
Inability to recruit people with needed skills
Loss of staff with key internal knowledge
Uncompetitive labor production
Increased departures of skilled technical staff
Loss of key business know-how
University of Cumberlands
4
The Reluctant General Counsel
Business Software Corporation (BSC)
Silicon Valley, CA
Annual revenue over $1 billion
Board wants ERM
Upper management supports establishing ERM
EVP of development and general counsel
Doesn’t want to be involved in ERM
Risk discussions could be discoverable in lawsuits
U.S. Securities and Exchange Commission (SEC)
Requires disclosure of risks
Recommendation is to not formally pursue ERM
University of Cumberlands
5
Transforming Risk Management at Akawini Copper
Akawini Copper
Mining company acquired by larger United Minerals
Single mine and plant • $774 million in revenue
1,500 employees
United Minerals implemented ISO 31000 framework
Substantially more sophisticated than Akawini’s RM
Launched project to transform Akawini RM to ERM
University of Cumberlands
6
Keyword Driven Testing
Dhwani patel
A keyword-driven test is an executable collection of keywords
Keyword-Driven Testing [1]
Type of functional automation testing framework known as table-driven testing or action word based testing.
Is a software testing methodology that separates test design from test development.
A keyword-driven test can be played back just like any other test.
Test case framework division [3]
Test step: description of action going to perform on test object.
Test object: it is the name of the web page object like username and password.
Action: is the name of action, which is going to perform on any action such as click, open browser, input, etc.
Test Data: Data can be any value which is needed by the object to perform any action, like username value for username field.
Project Goa ...
Discussion1Explaining the results of Efficient Frontier Analysis.docxmadlynplamondon
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 ...
2017 coso-erm-integrating-with-strategy-and-performance-executive-summaryVALUES & SENSE
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.
One way to improve your verbal communication is to own your thoughts.docxjuliennehar
One way to improve your verbal communication is to own your thoughts and feelings.
You-language
is a way of speaking that projects responsibility onto another person and tends to be judgmental.
I-language
, on the other hand, is a way of speaking that owns responsibility and is descriptive rather than judgmental. Study the following example:
You-language statement
I-language statement
"You make me so mad!"
"I feel very angry when you interrupt me when I'm telling a story."
Complete the following two parts of your written assignment in one Word document. First, show your skill at translating You-language messages into I-language messages. Secondly, apply this skill to your own communication.
Part 1
Translate the following
You-language
statements into
I-language
messages.
Sentences to be translated:
You are so selfish.
You don't understand a word I'm saying.
You are too nosy; mind your own business.
You totally humiliated me in front of our friends.
You never help me around the house.
Part 2
Think of a You-language statement that you find yourself using when you communicate with a friend, family member, spouse, or romantic partner. Compose a paragraph that explains the situation in which you have used this You-language message. Consider how you would translate this You-language statement into an I-language message.
.
One paragraphHas your family experienced significant upward or .docxjuliennehar
One paragraph:
Has your family experienced significant upward or downward mobility over the past three or four generations? How do you think your values and behavior might differ had you experienced the opposite pattern of mobility? How might it have been different had your family been of a different ethnic or racial origin?
One para:
One of the more interesting topics of study is the area of deviance and social control. Choose a form of deviance with which you are familiar (not necessarily something you’ve done, but something someone you know did) and discuss why society views that behavior as deviant and whether perceptions of that behavior have changed over time. Explain which theory of deviance you think works best for understanding the deviant behavior you’ve chosen to discuss
.
More Related Content
Similar to Top of FormChapter 22 PPT - JAA Inc.–A Case Study in Creating Va.docx
BUSB342 - International BusinessCore Concepts· International.docxfelicidaddinwoodie
BUSB342 - International Business
Core Concepts
· International Business
· International Strategy
· Corporate Social Responsibility (CSR)
· Sustainable strategies
· International Market research
· Cultures
· Brick-and-mortar
· Pull Strategy
· Entrepreneurs
· Creating Value
· Profit Growth
· Common Laws
· Political Risk
· Supply Chain Management
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to Controls
“For those who still think that enterprise risk management is just a fad, the varied
examples of practical value-generating uses contained in this book should dispel
any doubt that the d.
ITS 835 Module Three Essay Guidelines and Rubric Topic .docxvrickens
ITS 835 Module Three Essay Guidelines and Rubric
Topic: Chapter 14 – “A Strategic Approach to Enterprise Risk Management at Zurich Insurance Group”
Overview: This case study focuses on how Zurich uses a variety of methodologies and tools to manage its business risk. Zurich's risk profiling is a
focused and disciplined approach to identifying, assessing, and monitoring holistic risks and improvement actions needed. By embedding this
methodology into its risk culture, this has helped ensure its risk management culture is consistent and effective across its various business units.
More information on Zurich's Strategic Risk Management work can be found at https://www.zurichna.com/en/risk
Review the case study in Chapter 14 of the textbook.
Please explain the following:
1. How do Zurich ERM tools help them better understand their existing and emerging risks?
2. How are Zurich’s risk roles and responsibilities impacting their risk culture?
3. Provide at least two examples of how Zurich has created new value through their ERM program.
Guidelines for Submission: Using APA 6th edition style standards, submit a Word document that is 2-4 pages in length (excluding title page,
references, and appendices) and include at least two credible scholarly references to support your findings. The UC Library is a good place to find
these sources. Be sure to cite and reference your work using the APA guides and essay template that are located in the courseroom.
Required elements:
Please ensure your paper complies APA 6th edition style guidelines. There is an essay template located under the Information link.
APA basics:
o Your essay should be typed, double-spaced on standard-sized paper (8.5" x 11")
o Use 1" margins on all sides, first line of all paragraphs is indented ½” from the margin
o Use 12 pt. Times New Roman font
Follow the outline provided above and use section headers to improve the readability of your paper. If I cannot read and understand it,
you will not earn credit for the content.
https://www.zurichna.com/en/risk
Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value
Zurich ERM tools
Explains how Zurich’s ERM tools
help them better understand their
existing and emerging risks.
Provides short explanation of how
Zurich’s ERM tools help them better
understand their existing and
emerging risks. Explanation lacks
detail.
Does not explain how Zurich’s
ERM tools help them better
understand their existing and
emerging risks.
30
Zurich’s risk roles and
responsibilities
Describes how Zurich’s risk roles
and responsibilities impacting their
risk culture.
Provides short description of how
Zurich’s risk roles and responsibilities
impacting their risk culture.
Explanation lacks detail.
Does not describe how Zurich’s
risk roles and responsibilities
impacting their risk culture.
30
Examples that have created
new value through ERM
Provides example ...
Running head COMPANY SELECTION1COMPANY SELECTION4CO.docxhealdkathaleen
Running head: COMPANY SELECTION
1
COMPANY SELECTION
4
COMPANY SELECTION (Amazon)
Company Selection
Amazon Organization Background
According to the studies, Amazon is one of the multinational companies based in the USA. Its headquarters are located in Seattle, Washington. Amazon operates in the e-commerce business, digital streaming, and cloud computing and artificial intelligence. Recent news indicates that Amazon has had various organizational issues, especially on the leadership aspect (Ott, 2012).
Organization issues in Amazon
Insensitive management. Reports reveal that the employees with different personal hardships such as miscarriages, cancer and other personal problems were significantly faced with unfair judgements. Others were given limited time to recover from their issues, which created a lot of issues for the employees.
Unfair ranking system. The Amazon management holds annual organizational-level reviews to discuss and determine the ranking of the subordinates. The reviews start with a discussion concerning the lower-level employees in front of the senior managers. Consequently, the king of review system employees in the raking system is not correct. It leads to the discrimination of some employees while favoring others.
Lack of benefits. Benefits are essential in any company to boost the motivation of the workers. However, Amazon fails to provide its employees with benefits such as meals, personal wellness and other critical benefits that can motivate the employees. Hence, Amazon gives no priority to its workers. Instead, the new employees are required to repay a share of their signing bonus if one quits before the years’ time. Such acts are discriminative.
Why do such issues hinder Amazon organizational efficiency?
Organizational issues contribute to organization controversies. The organization issues in Amazon provides to workers turn over. Besides, an unfair ranking system contributes to a poor relationship between the management and the workers. Also, the lack of benefits lowers the morale of the workers, thus reducing organizational productivity (Robbins & Judge, 2012). Hence, for an organization to succeed ant attain its set objective organizational issues should be avoided.
References
Ott, J. S. (2012). The organizational culture perspective (pp. 221-243). Chicago: Dorsey Press.
Robbins, S. P., & Judge, T. (2012). Essentials of organizational behavior.
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the ...
Sources and Resources for RC004Informed Advocacy in Early .docxrosemariebrayshaw
Sources and Resources for RC004
Informed Advocacy in Early Childhood Care and Education: Making a Difference for Young Children and Families, pp. 107-111
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-628&srcou=6738
WEBSITE: KIDS COUNT DATA CENTER
http://datacenter.kidscount.org/topics
KIDS COUNT Data Center
Annie E. Casey Foundation. (2014). KIDS COUNT data center: Data topics. Retrieved from http://datacenter.kidscount.org/topics
WEBSITE: NATIONAL AND STATE FACTS
http://www.cwla.org/our-work/advocacy/
WEBSITE: U.S. CHILD STATE DATA
http://www.cwla.org/our-work/advocacy/
WEBSITE: DATA TOOLS
http://www.nccp.org/tools/
Consider how this information will be beneficial within the context of Part 1 of your Work Product.
WEBSITE: ASSOCIATION FOR CHILDHOOD EDUCATION INTERNATIONAL
http://www.acei.org/
WEBSITE: DIVISION FOR EARLY CHILDHOOD
http://www.dec-sped.org/
WEBSITE: INTERNATIONAL READING ASSOCIATION
http://www.reading.org/
WEBSITE: NATIONAL ASSOCIATION FOR THE EDUCATION OF YOUNG CHILDREN
http://www.naeyc.org/
WEBSITE: NATIONAL BLACK CHILD DEVELOPMENT INSTITUTE
http://www.nbcdi.org/
BOOK EXCERPT: DEVELOPING INITIATIVES
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-640&srcou=6738
The following links lead to early childhood advocacy initiatives that focus on social change on behalf of children, families, and the early childhood field.
WEBSITE: WORLDWIDE TEACHER SHORTAGE: REGIONAL AND GLOBAL IMPLICATIONS
http://www.businessinsider.com/theres-a-massive-global-teacher-shortage-2016-10
WEBSITE: LEGISLATIVE HOT TOPICS
https://www.literacyworldwide.org/
WEBSITE: TAKEN ACTION NOW
http://www.naeyc.org/policy/action
WEBSITE: WHAT WE DO: POLICY
http://www.nbcdi.org/what-we-do/policy
BOOK EXCERPT: COMPREHENSIVE DEVELOPMENTAL SCREENING
As you read this information and the Guided Notes , consider how these apply to Part 2 and Part 3 of your Work Product.
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-647&srcou=6738
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-747&srcou=6738
https://tempolearning.brightspace.com/d2l/common/dialogs/quickLink/quickLink.d2l?ou=6738&type=lti&rcode=walden-2320&srcou=6738
This information is beneficial in the context of Part 2 and Part 3 of your Work Product.
ARTICLE: HOW TO BE A VOICE FOR BABIES: USING DATA TO ADVOCATE EFFECTIVELY
https://www.zerotothree.org/resources/496-how-to-use-data-to-advocate-effectively
ARTICLE: EFFECTIVE COMMUNICATION ABOUT THE EARLY YEARS: UNDERSTANDING THE BASICS OF FRAMING
https://www.zerotothree.org/resources/482-understand-the-basics-of-framing-to-communicate-effectively
ARTICLE: EFFECTIVE COMMUNICATION ABOUT THE EARLY YEARS: THE ELEMENTS OF THE FRAME: PART ONE
https://www.zerotothree.org/resources/483-the-elements.
Weekly Article #3
77 unread replies.77 replies.
Class -
You are required to analyze an online research and select any article related to the following topics,
- A comprehensive model of entrepreneurship- Five entrepreneurial strategies
Each student will locate and review an article relevant to the topic of the class. The review is between 400-to-550 words and should summarize the article. Please include how it applies to our topic, and why you found it interesting. Please post the text in the Discussion Board by Friday . No attachments, please.
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incent ...
ERM Implementation ERM is essential for organizations.docxelbanglis
ERM Implementation
ERM is essential for organizations in managing risks and improve on opportunities related to the achievement of organizational objectives. Statoil and United Grain Growers have established an enterprise risks management that meets their company goals based on the challenges each of them is facing.
The primary difference between ERM in Statoil and United Grain Growers is that ERM will affect management at the latter. Additionally, ERM at United Grain Growers seeks to retrieve the company from financial constraints while at Statoil, ERM seeks to improve organizational performance. However, ERM at the two companies share some similarities. For instance, ERM at United Grain Growers seeks to identify and access principle risks. The same applies to Statoil which seeks to identify any potential risks during the exercise. Besides, the two companies have a strategic risk plan. A strategic plan is essential as it outlines the role of a manager, CEO and everyone involved in the steps of an ERM (Robert and Liebenberg, 2011). United Grain growers has a strategic plan to improve financial dividends while Statoil has a risk map and committee with outlined roles and responsibilities.
The Statoil ERM seems workable and productive meaning I can implement it is it were up to me. On the contrary, I will not implement the United Grain Growers ERM. In my opinion, the ERM lacks the potential to solve financial constraints that the company is experiencing. However, some parts of it are productive, but a merger comes in with other risks for the struggling company. For instance, a merger will lead to employee layoff which might put the company at a risk of losing some important skills (Chui, 2011). Additionally, the company assets might be miscalculated during financial evaluation leading to more losses.
Generally, the ERM at Statoil might be successful in future because it is based on company goals and values. On the contrary, UGG ERM might not succeed because there are many risks associated with its strategy for implementation.
References
Chui, B.S. 2011. A Risk Management Model for Merger and Acquisition.
Robert, E.H. and Liebenberg, A.P. (2011). The Value of Enterprise Risk Management. The
Journal of Risk and Insurance, 78(4).pp. 795-822.
https://doi.org/10.1111/j.15396975.2011.01413.x
According to Brustbauer, 2016 Enterprise risk management help the company prepare for the uncertainties and disasters that may occur all along. Every business must identify the threats likely to face the business and come up with a contingency plan. Different companies faces different threats and uncertainties and therefore while coming up with the risk management plan one must consider the uniqueness of the enterprise and the likely threats to occur. These differences make the companies and business have different hierarchy of risks that are likely to occur. This paper is going to compare and contrast the enterprise risk management of the united g ...
Week 5 Post-Course Assessment Quiz
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent an efficient way
to gain practical insights on the implementation of ERM. Implementing Enterprise
Risk Management provides such insights from a robust collection of ERM pro-
grams across public companies and private organizations. I commend the editors
and contributors for making a significant contribution to ERM by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and Risk Oversight
Committee chairman, E∗TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to Controls
“For those who still think that enterprise risk management is just a fad, the varied
examples of practical value-generating uses contained in this book should dispel
any doubt that the discipline is here to stay! The broad collection of practices is
insightful for students, academics, and executives, as well as seasoned risk man-
agement professionals.”
—Carol Fox, ARM, director of Strategic and Enterprise Risk Practice, RIMS
“Managing risk across the enterprise is the new frontie ...
Discussion- 11. How does efficient frontier analysis (EFA) dif.docxmadlynplamondon
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 ...
Student 1 The main intention of this framework is to support .docxcpatriciarpatricia
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.
Chukss StrengthsShare your strengths twitterfacebook.docxmccormicknadine86
Chuks's Strengths
Share your strengths
twitter
facebook
Chuks - What makes you unique? Go learn more about your top Strengths below.
RANK
STRENGTH
1
Connectedness
LEARN MORE
RELATIONSHIP BUILDING
People who are especially talented in the Connectedness theme have faith in the links between all things. They believe there are few coincidences and that almost every event has a reason.
2
Includer
LEARN MORE
RELATIONSHIP BUILDING
People who are especially talented in the Includer theme are accepting of others. They show awareness of those who feel left out, and make an effort to include them.
3
Self-Assurance
LEARN MORE
INFLUENCING
People who are especially talented in the Self-Assurance theme feel confident in their ability to manage their own lives. They possess an inner compass that gives them confidence that their decisions are right.
4
Belief
LEARN MORE
EXECUTING
People who are especially talented in the Belief theme have certain core values that are unchanging. Out of these values emerges a defined purpose for their life.
5
Responsibility
LEARN MORE
EXECUTING
People who are especially talented in the Responsibility theme take psychological ownership of w
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable service to
advance the science of enterprise risk management by collecting an extensive num-
ber of wonderful case studies that describe innovative risk management practices
in a diverse set of companies around the world. This book should be an extremely
valuable source of knowledge for anyone interested in the emerging and evolving
field of risk management.”
—Robert S. Kaplan, senior fellow, Marvin Bower Professor of Leadership
...
Narayana Rao Mahankali Week 11 - DiscussionCOLLAPSETop of Fo.docxvannagoforth
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 ...
ITS 835Chapter 12Measuring Performance at mariuse18nolet
ITS 835
Chapter 12
Measuring Performance at Intuit
Enterprise Risk Management
Dr. James C. Hyatt
Miguel Buleje
Introduction
Intuit’s ERM Journey
ERM Maturity Model
Benefits of Measuring Performance in ERM Models
ERM Performance Measurement and Reporting
Conclusion
Intuit’s ERM Journey
INTRO to Intuit: Biz and Financial Software Corporation. Offerings include QuickBooks, Quicken, Turbo Tax
Began with ad hoc risk management
Very common entry point
Escalated to ERM when seminal event occurred
Desire was to stop firefighting and start prevention.
Proactive approach, as resources were pulled from Operations
Intuit ERM Core Principles
Enterprise-wide risk framework
Risk assessment is ongoing
Focus on most significant risks
Ownership and accountability
Measure and monitor performance
ERM Maturity Model
Risk Management Maturity Model
Stakeholders Value increases as Risk Management Capability Increase
Ad Hoc Risk Management - Starting Point
Targeted Risk Management – progress and next step. More proactive. Organized.
Integrated Risk Framework – Really taking this the next level with formal framework. Value starts to increase
Risk Intelligence - Feedback loop. Really taking advantage to predict, and use intelligence to take action.
Risk Leadership – Move from Reactive to Proactive. Optimize and Capitalize positive outcomes around risk.
4
Benefits of Measuring Performance in ERM Models
Key Performance Indicators (KPI)
Based on business objectives
Quantitative and qualitative KPI
Leading (looking into future/ predictive approach) and
Lagging (trending / historical performance) indicators
Input, process, and output indicators ( optimized for end to end processes).
KPIs must be
Tangible
Flexible
Standardized
Outcome or objective focused
ERM Performance Measurement and Reporting
First evolution - ERM process adoption
Second evolution – Risk Mitigation Process Management
Third Evolution – Multidimensional Risk Management Performance Measurement
Outcome: executive dashboard for reporting.
ERM Process Adoption
7
Risk Mitigation Process Management
Multidimensional Risk Management Performance Measurement
3er Evolution
Culmination of INTUIT enterprise risk management: Dashboards
KPI status by risk.
Clear where attention goes, by Risk .
They do not care about green. Focus on Reds and Yellow.
At a glance exes are able to determine what risk would cause issues.
9
Conclusion
At Intuit, risk management is everyone’s responsibility
ERM must be a core business competency
Coordination is a key to success
ERM Recognizes
Upside opportunity
Downside risk
ERM process is regularly audited
ERM is an integral part of Intuit’s operating model
Sheet1TitleYearLengthViolence timeInjuriesFatal injuriesGood/neutral injuriesGood/neutral fatalitiesBad injuriesBad fatalitiesSnow White and the Seven Dwarfs19375040474211011Fantasia19407200307111100Pinoc ...
Gandu Discussion-14COLLAPSETop of FormThe ERM implementati.docxshericehewat
Gandu
Discussion-14
COLLAPSE
Top of Form
The ERM implementation at Workers’ Compensation Fund and Zurich Insurance Group are similar in many ways. For example, both organizations have an established Chief Risk Officer (CRO) with distinct roles. The CRO position at Workers’ Compensation Fund was established in 2010, and the purpose of the office was to develop and monitor the organization’s ERM strategy, processes, and policies as directed by the CEO, the Risk Oversight Committee, and the Board (Fraser, Simkins, and Narvaez, 2014, p. 209-10). Zurich Insurance Group also has a CRO whose central role is to provide the CEO, the Board, and the Risk Committee with risk-related information (Fraser et al., 2014, p. 258-59). Besides having similar roles, the CROs of both organizations report to the same authorities.
Both organizations also have an independent risk audit. At the Workers’ Compensation Fund, auditing is external, and the CRO introduced it in 2011 as a "third-party review” (Fraser et al., 2014, p. 215). Similarly, Zurich Insurance Group consults external expertise on risk matters. For example, the company seeks external knowledge from the Natural Catastrophe Advisory Council (Fraser et al., 2014, p. 261). Zurich Insurance Group, however, has an internal audit function that forms the "third line of defense" in its risk governance approach (p. 256). Another aspect that is conspicuously similar between the two organizations is the role of the Board in ERM. Both companies have a risk committee made up of board members. Workers’ Compensation Fund, the board’s ERM functions are carried out through the Risk Oversight Committee. At Zurich Insurance Group, a Board-level Risk Committee exists, and it defines the Board's Role in ERM. Also, ERM is considered a part of all business operations, including strategic planning and budgeting.
The implementation of ERM depends on the size of an organization and the level of risks it faces. In implementing an ERM, I would follow the strategies used by these two organizations because they offer a clear path to achieving ERM. A step-by-step process used to implement ERM is depicted, and it is initiated and governed by not only the CRO but also the CEO and the Board. In the future, ERM implementation will get better. New risk assessment matrices will make risk identification more comfortable, and the role of CRO's will become easier when all members of the organization, including CEOs and the Board of Directors, assume active roles in ERM implementation.
Reference
Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons.
Bottom of Form
Thumma
Discussion
COLLAPSE
Top of Form
The initial phase in making a successful hazard the executives framework is to comprehend the subjective differentiations among the kinds of dangers that associations face. Our field explore shows that dangers can be categorized as one of three classificatio ...
Running Head: FOOTPRINT
1
FOOTPRINT 2
Footprint
Data
Course
Date of Submission
ECOLOGICAL FOOTPRINT
Hectares:
2
# Earths:
1
Top 3 Consumption Categories:
Processed meat
Car use
Flight hours
CARBON FOOTPRINT
Carbon Emissions (lbs):
0.524
WATER FOOTPRINT
Gallons per day:
90
Top 3 Contributors:
Meat
Soybean
Rice
As I conducted my research on ecological footprint, I realized that my consumption way high than it should be. From the research, I realized that I require an approximate of 10 GHA to aid me in realizing what requires to be carried out to lead to a reduced footprint. Carrying out the assignment helped me to realize that I personally have a huge impact on the environment and the resultant effects of environmental degradation. The most shocking I learned through this project is the fact that consuming processed foods played a huge role in increasing my footprint. I will embrace using local foods and prepare my own meat and beer instead of buying the processed ones. The research made me believe that as humans, we should use more of the products based on animals instead of depending on the processed ones. To get the most suitable and accurate calculations, I will keep a close track of my usage of the meat and other locally produced products. The research made me think that we, as humans, are failing at protecting the environment. If we fail to be keen at protecting it, the earth will not b enough for us to live in.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable ...
Running Head: FOOTPRINT
1
FOOTPRINT 2
Footprint
Data
Course
Date of Submission
ECOLOGICAL FOOTPRINT
Hectares:
2
# Earths:
1
Top 3 Consumption Categories:
Processed meat
Car use
Flight hours
CARBON FOOTPRINT
Carbon Emissions (lbs):
0.524
WATER FOOTPRINT
Gallons per day:
90
Top 3 Contributors:
Meat
Soybean
Rice
As I conducted my research on ecological footprint, I realized that my consumption way high than it should be. From the research, I realized that I require an approximate of 10 GHA to aid me in realizing what requires to be carried out to lead to a reduced footprint. Carrying out the assignment helped me to realize that I personally have a huge impact on the environment and the resultant effects of environmental degradation. The most shocking I learned through this project is the fact that consuming processed foods played a huge role in increasing my footprint. I will embrace using local foods and prepare my own meat and beer instead of buying the processed ones. The research made me believe that as humans, we should use more of the products based on animals instead of depending on the processed ones. To get the most suitable and accurate calculations, I will keep a close track of my usage of the meat and other locally produced products. The research made me think that we, as humans, are failing at protecting the environment. If we fail to be keen at protecting it, the earth will not b enough for us to live in.
www.it-ebooks.info
http://www.it-ebooks.info/
www.it-ebooks.info
http://www.it-ebooks.info/
Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of risk an integral part
of management degrees have had great difficulties in providing their students with
a definitive ERM text for their course. The Standards and associated Handbooks
helped, but until the arrival of Implementing Enterprise Risk Management: Case Stud-
ies and Best Practices, there has been no text to enlighten students on the application
of an effective program to manage risk across an enterprise so that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez have combined
with a group of contributors that represent the cream of risk practitioners, to pro-
vide the reader with a clear and concise journey through the management of risk
within a wide range of organizations and industries. The knowledge, skills, and
experience in the management of risk contained within the covers of this book are
second to none. It will provide a much needed resource to students and practition-
ers for many years to come and should become a well-used reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk Management
“The authors—Fraser, Simkins, and Narvaez—have done an invaluable .
ITS 835 enterprise risk managementChapter 26-29Review of 4 M.docxvrickens
ITS 835 enterprise risk management
Chapter 26-29
Review of 4 Mini case studies on ERM and Risk
University of Cumberlands
1
overview
Collection of four mini-cases
Leaves open ended questions
Presents real life situations
And needs for ERM
Mini-Cases
BimConsultants Inc.
Nerds Galore
The Reluctant General Counsel
Transforming Risk Management at Akawini Copper
University of Cumberlands
2
Bim Consultants Inc.
Consulting firm
10 offices in Canada
3,000 staff
30 partners
“Customers are number one”
But revenue is stagnant
Opportunity to buy out competitor
Purchase would double size and sales
Negotiations must be kept confidential
University of Cumberlands
3
Nerds galore
Canadian IT service company
12 offices
1,000 employees
Grew from founder’s garage
Shift from small start-ups to medium size customers
High turnover of 20% is causing concern
Decreasing customer satisfaction
Steady revenue (for now)
Strategy from new HR VP
Attract the best talent
Retain good people
Manage talent
Optimize the use of people
Rely on outsourcers
Executive team workshop to explore HR risks
Inability to recruit people with needed skills
Loss of staff with key internal knowledge
Uncompetitive labor production
Increased departures of skilled technical staff
Loss of key business know-how
University of Cumberlands
4
The Reluctant General Counsel
Business Software Corporation (BSC)
Silicon Valley, CA
Annual revenue over $1 billion
Board wants ERM
Upper management supports establishing ERM
EVP of development and general counsel
Doesn’t want to be involved in ERM
Risk discussions could be discoverable in lawsuits
U.S. Securities and Exchange Commission (SEC)
Requires disclosure of risks
Recommendation is to not formally pursue ERM
University of Cumberlands
5
Transforming Risk Management at Akawini Copper
Akawini Copper
Mining company acquired by larger United Minerals
Single mine and plant • $774 million in revenue
1,500 employees
United Minerals implemented ISO 31000 framework
Substantially more sophisticated than Akawini’s RM
Launched project to transform Akawini RM to ERM
University of Cumberlands
6
Keyword Driven Testing
Dhwani patel
A keyword-driven test is an executable collection of keywords
Keyword-Driven Testing [1]
Type of functional automation testing framework known as table-driven testing or action word based testing.
Is a software testing methodology that separates test design from test development.
A keyword-driven test can be played back just like any other test.
Test case framework division [3]
Test step: description of action going to perform on test object.
Test object: it is the name of the web page object like username and password.
Action: is the name of action, which is going to perform on any action such as click, open browser, input, etc.
Test Data: Data can be any value which is needed by the object to perform any action, like username value for username field.
Project Goa ...
Discussion1Explaining the results of Efficient Frontier Analysis.docxmadlynplamondon
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 ...
2017 coso-erm-integrating-with-strategy-and-performance-executive-summaryVALUES & SENSE
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.
One way to improve your verbal communication is to own your thoughts.docxjuliennehar
One way to improve your verbal communication is to own your thoughts and feelings.
You-language
is a way of speaking that projects responsibility onto another person and tends to be judgmental.
I-language
, on the other hand, is a way of speaking that owns responsibility and is descriptive rather than judgmental. Study the following example:
You-language statement
I-language statement
"You make me so mad!"
"I feel very angry when you interrupt me when I'm telling a story."
Complete the following two parts of your written assignment in one Word document. First, show your skill at translating You-language messages into I-language messages. Secondly, apply this skill to your own communication.
Part 1
Translate the following
You-language
statements into
I-language
messages.
Sentences to be translated:
You are so selfish.
You don't understand a word I'm saying.
You are too nosy; mind your own business.
You totally humiliated me in front of our friends.
You never help me around the house.
Part 2
Think of a You-language statement that you find yourself using when you communicate with a friend, family member, spouse, or romantic partner. Compose a paragraph that explains the situation in which you have used this You-language message. Consider how you would translate this You-language statement into an I-language message.
.
One paragraphHas your family experienced significant upward or .docxjuliennehar
One paragraph:
Has your family experienced significant upward or downward mobility over the past three or four generations? How do you think your values and behavior might differ had you experienced the opposite pattern of mobility? How might it have been different had your family been of a different ethnic or racial origin?
One para:
One of the more interesting topics of study is the area of deviance and social control. Choose a form of deviance with which you are familiar (not necessarily something you’ve done, but something someone you know did) and discuss why society views that behavior as deviant and whether perceptions of that behavior have changed over time. Explain which theory of deviance you think works best for understanding the deviant behavior you’ve chosen to discuss
.
one paragraph for each conceptoriginal workSocial Stratifica.docxjuliennehar
one paragraph for
each concept
original work
Social Stratification
What is social stratification? How is social class connected to social stratification? Summarize the four systems of stratification (provide examples of each). Which stratification system(s) is likely to be
open and/or closed
? Which systems reflect ascribed and/or achieved status? Explain.
Means of Production
For Karl Marx, what is the
means of production
and who owns the means of production (explain and give examples)? Distinguish among the bourgeoisie and the proletariat. What is their relationship to the means of production? Finally, describe and explain the following terms: class consciousness, dominant ideology and false consciousness.
Weber's Definitions of Class, Status Group & Party
Distinguish among Weber’s usage of the following terms: class, status group and party. Provide examples of each. Contrast Weber and Marx’s views of social class.
Cultural Capital
How is cultural capital linked to class differences? How is cultural capital linked to power differences? Explain. Discuss cultural capital in relation to material, social and cultural resources. How is cultural capital expressed in attire, housing, vacations, food and sport?
Note
: Review the following terms: relative poverty, absolute poverty, socioeconomic status (SES), prestige and esteem.
.
one pageExamine the importance of popular culture and technology.docxjuliennehar
one page
Examine the importance of popular culture and technology in the lives of all Americans, tracing thisgrowth since the 1870s.
Hint: There are two ways to organize the topics•Two topics: (1) popular culture and (2)
technology•Specific technologies and forms of culture•Automobiles•Movies•Electrical energy•Religion•Ethnic culturalism
.
One-half pageWhat accounts are included in the revenue cycleD.docxjuliennehar
One-half page
What accounts are included in the revenue cycle?
Discuss the U.S. Securities Exchange Commission's (SEC) criteria for revenue recognition.
How would internal controls impact your audit?
What types of tests would you utilize to test the internal controls for the revenue cycle?
.
One way chemists use to determine the molecular weight of large biom.docxjuliennehar
One way chemists use to determine the molecular weight of large biomolecules was to dissolve a small portion of the molecule into a solution and measure the omsmotic pressure.When 5.0 mg of an unknown covalent molecule is dissolved into 100mL of water at 25C the resulting increase in osmotic pressure 1.70*10^-4 atm. What is the closest result to the molecular weight of the unknown compound?
.
One page paper answering following questions. Describe the charact.docxjuliennehar
One page paper answering following questions.
Describe the characteristics of behavioral problems and the importance of reducing and preventing problems in the preschool classroom
Identify strategies for reducing and preventing behavioral problems in the preschool classroom
Describe techniques that facilitate quality care for a specific age group of young children with special needs
.
One page on Applying Platos Allegory of the Cave in the light o.docxjuliennehar
One page on Applying Plato's Allegory of the Cave in the light of the current fixation with digital media and platforms.
One page on one-page essay explaining Reid's critique of Hume's skepticism.
Plato
https://iep.utm.edu/plato/ (Links to an external site.)
Plato: The Republic: Allegory of the Cave (see Book VII)
https://iep.utm.edu/republic/
.
one page in APA format.Using the Competing Values Framework, how w.docxjuliennehar
one page in APA format.
Using the Competing Values Framework, how would you categorize the culture in your organization or an organization for which you have previously worked and was it effective? Why or why not?
What do you think is your primary ethical perspective when making decisions?
How do you think organizational culture impacts ethics and how do the ethics exhibited by an organization impact the organizational culture?
.
One more source needs to be added to the ppt. There is a 5-6 min spe.docxjuliennehar
One more source needs to be added to the ppt. There is a 5-6 min speech based on the ppt. Update the statistics and give me the article title, the name of the source where you found the statistic. All the sources have to be current, published in the last 2 years. have to put the sources on everything he mentions. All samples and the formats are attached. Mosso is his speech, needts to be reformatted..
.
One of the recent developments facing the public administration of c.docxjuliennehar
One of the recent developments facing the public administration of corrections is that there has been an increasing call by public officials and the citizenry to privatize the prison systems in the United States. Discuss the following in regard to this:
First, from the perspective of a public-sector correctional administrator, make 2 arguments for keeping the jails in public hands.
Second, from the perspective of a private-sector correctional facility manager make 2 arguments for turning the correctional system over to the private correctional industry.
Briefly discuss the types of challenges that each sector—both public and private—may face.
Are there any legal issues, either criminal or civil, that need to be addressed before privatization can occur?
Support your viewpoints from your readings and other appropriate outside sources, in APA format.
5 pages. APA formet. 5 sources cited throughout the paper. Reference page and Abstract. Please no Plagerism.
.
One of the most important functions (protocols) in a packet-switched.docxjuliennehar
One of the most important functions (protocols) in a packet-switched network is
ROUTING.
An array of routing algorithms have been invented, and many of them implemented.
With respect to routing, the Internet is composed of inter-connected regions called autonomous systems (AS). There are 2 layers of routing in the Internet: interior and exterior routing. An interior routing protocol (IRP) operates within an AS. An exterior routing protocol (ERP) operates between AS's. IRP's and ERP's have evolved. Routing protocols may have serious security vulnerabilities that could potentially be exploited by hackers. CISCO has monopolized the router market, but is facing increasing foreign competition.
Discuss routing in
the Internet and other
networks (algorithms, standards, implementations, quality-of-service, security risks, router trends, etc.) .
Answer must be atleast 300 words
.
One of the main themes of this course has been culture as an on-goin.docxjuliennehar
One of the main themes of this course has been culture as an on-going process of adoption and adaptation. Give at least two examples of adoption and adaptation in pre-modern Korea and discuss the significance of those examples for the often-expressed view that pre-modern Korean culture is simply an imitation of Chinese culture.
.
One of the main political separations that divide people today is Li.docxjuliennehar
One of the main political separations that divide people today is Liberal versus Conservative. These two sides have very distinct views on many educational issues. Based on your assigned group, listed below by last name, describe the liberal and conservative perspectives on your specific educational issue
Multiculturalism (Last name begins with A-L)
What roles have these views played in either creating or shaping current educational policy?
.
One of the very first cases that caught Freud’s attention when he wa.docxjuliennehar
One of the very first cases that caught Freud’s attention when he was starting to develop his psychoanalytic theory was that of Anna O, a patient of fellow psychiatrist Josef Breuer. Although Freud did not directly treat her, he did thoroughly analyze her case as he was fascinated by the fact that her hysteria was “cured” by Breuer. It is her case that he believes was the beginning of the psychoanalytic approach.
Through your analysis of this case, you will not only look deeper into Freud’s psychoanalytic theory but also see how Jung’s neo-psychoanalytic theory compares and contrasts with Freud’s theory.
Review the following:
The Case of Anna O.
One of the first cases that inspired Freud in the development of what would eventually become the Psychoanalytic Theory was the case of Anna O. Anna O. was actually a patient of one of Freud’s colleagues Josef Breuer. Using Breuer’s case notes, Freud was able to analyze the key facts of Anna O’s case.
Anna O. first developed her symptoms while she was taking care of her very ill father with whom she was extremely close. Some of her initial symptoms were loss of appetite to the extent of not eating, weakness, anemia, and development a severe nervous cough. Eventually she developed a severe optic headache and lost the ability to move her head, which then progressed into paralysis of both arms. Her symptoms were not solely physical as she would vacillate between a normal, mental state and a manic-type state in which she would become extremely agitated. There was even a notation of a time for which she hallucinated that the ribbons in her hair were snakes.
Toward the end of her father’s life she stopped speaking her native language of German and instead only spoke in English. A little over a year after she began taking care of her father he passed away. After his passing her symptoms grew to affect her vision, a loss of ability to focus her attention, more extreme hallucinations, and a number of suicidal attempts (Hurst, 1982).
Both Freud and Jung would acknowledge that unconscious processes are at work in this woman's problems. However, they would come to different conclusions about the origin of these problems and the method by which she should be treated.
Research Freud’s and Jung’s theories of personality using your textbook, the Internet, and the Argosy University online library resources. Based on your research, respond to the following:
Compare and contrast Freud's view of the unconscious with Jung's view and apply this case example in your explanations.
On what specific points would they agree and disagree regarding the purpose and manifestation of the unconscious in the case of Anna?
How might they each approach the treatment of Anna? What might be those specific interventions? How might Anna experience these interventions considering her history?
Write a 2–3-page paper in Word format. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M2_A.
One of the great benefits of the Apache web server is its wide range.docxjuliennehar
One of the great benefits of the Apache web server is its wide range of OS and platform support. Apache will run on any Unix-like OS (e.g. Linux, Unix, Mac, Solaris, and Berkeley Software Distribution (BSD) and most Windows OSs).
If you could pick any OS to run Apache on, which would you pick and why?
Once you select the OS, be sure to discuss the specifics in the steps you would take to install Apache on the operating system
.
Criteria for grading
* Quality of Initial Posting
* Writing mechanics ( Spelling, Grammar, APA) and Information Literacy
.
One of the most difficult components of effective .docxjuliennehar
One of the most difficult components of effective management and leadership is uncertainty. Uncertainty exists everywhere in an organization. Each of the four functions of
management (planning, organizing, leading, and controlling) is affected by uncertainties that lie within an organization and its operations. However, many uncertainties that affect an
organization are external to the organization itself. These cannot always be controlled, but they must be planned for when possible, and adapted to when planning is not possible.
This final week contains a culmination of the concepts introduced throughout the course and is designed to help you think about future challenges involved in management.
Review previous resources as needed to prepare for your Signature Assignment.
Activity Resources:
No Activity Resource available.
Activity Description:
In a paper, discuss the following points:
1. Present an overall description of what management entails and how it is properly implemented in today’s fast paced business environment.
2. Describe and give examples of how the challenges managers face in today’s world are characterized by uncertainty, ambiguity, and sudden changes or
threats from the environment.
3. Describe the skills that are important for managers to have to be successful under these existing conditions.
4. Illustrate the qualities that are important to managers today to function under these conditions.
5. Relate the issues above to a scenario and assessment of yourself as a manager in 5 years. Include a vision of the organization you will be in and the role
you would like to play. Also include a discussion of steps you need to take to strengthen your skills to be successful in your desired managerial role.
Support your paper with minimum of five scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older
.
One of the high points of the campaign will be a look to the future .docxjuliennehar
One of the high points of the campaign will be a look to the future of Healing Hands Hospital. Mr. Wood asks you to help the public relations committee come up with some ideas that can be used in the campaign of community education.
Create a PowerPoint presentation
(4–6 slides)
outlining some options that the future may hold for Healing Hands Hospital. Include the following information in your presentation:
Future health care trends
Technologies
Innovations
.
One of the most basic aims of human computer interaction has been sp.docxjuliennehar
One of the most basic aims of human computer interaction has been speech-recognition. The ability to talk to machines in common language, rather than through mechanical devices or artificial languages, has been a major desirable in business, education, government, and about every other field of endeavor. In the last few years, there have been enormous strides made by researchers and software engineers alike, and there are now effective products on the market that do a solid basic job. In fact, this particular text that you are now reading was entered into this course by your instructor using a voice-recognition program called Dragon Naturally Speaking. This entire paragraph was entered with only two errors that required correction.
As speech-recognition technology becomes more mature, it has been increasingly applied in many areas.
Assignment Expectations (50 points total)
After reading the course materials, prepare a paper discussing the following topics.
Discuss why HCI is important and has evolved to ensure that the needs of different kinds of users are taken into account in computer systems. Discuss the application of speech recognition as a tool for Human Computer Interaction
In this paper, please consider both current major issues in the field, and major future developments that hold promise.
Length:
Minimum 3–5 pages excluding cover page and references (since a page is about 300 words, this is approximately 900 –1,500 words).
.
One of the most common workplace communication tools is a telephon.docxjuliennehar
One of the most common workplace communication tools is a telephone. What key principles should you keep in mind when conveying a message via phone versus communicating by email? Include a clear description of phone and email etiquette in your response.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Anderson, L., & Bolt, S. (2011).
Professionalism: Skills for workplace success
(2nd ed., Pg. 82-84). Upper Saddle River, NJ: Prentice Hall.
.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Top of FormChapter 22 PPT - JAA Inc.–A Case Study in Creating Va.docx
1. Top of Form
Chapter 22 PPT - JAA Inc.–A Case Study in Creating Value
from Uncertainty
1. How high do you assess the knowledge level of the business
strategy throughout the company by the average employee? Is it
your assessment that there is a robust understanding of JAA’s
business strategy? Support your position with examples.
2. As you are aware, effective implementation of ISO 31000
involves effective design and implementation of a risk
management framework and effective implementation of the risk
management processes. This will be verified by incorporation of
11 key principles. Find an example in the case for each of the
11 principles in action.
3. If you compare the internal audit department at JAA to
several that you know of currently in the marketplace, what are
some of the major differences that you see at JAA that
obviously have contributed to superior performance? What is
unique and refreshing about the approach to the external audit
as compared to what you have seen in industry?
Top of Form
Chapter 25 - Uses of Efficient Frontier Analysis in Strategic
Risk Management
1. How does efficient frontier analysis (EFA) differ from other
forms of complex risk assessment techniques?
2. What limitations might an analyst encounter through the use
of EFA?
3. How can efficient frontier analysis results be communicated
and utilized with nonmathematical decision makers?
Requirements:
· API Format, No Plagiarism, You must also use a scholarly
source
· As a reminder, you must list every reference that you used to
2. build your response then cite every reference within every
sentence that you used it with a properly APA formatted
citation (ABC, 2019). Citation is author last name and
year.Bottom of FormBottom of Form
· You have to answer every question, No word limit. I need the
answers for each and every question separately with citations
matched to the references.
· Provide the answers in a word doc file for chap 22 and chap
25, like question and answers for 6 questions.
· I need the answers for each and every question separately with
citations matched to the references.
Chapter 22: JAA Inc.—A Case Study in Creating Value from
Uncertainty: Best Practices in Managing Risk. This case has
several important take aways as follows.
· To study the importance of the communication process to the
overall success of a company’s business objectives
· To understand the relationship of strategic objectives, context,
stakeholders, and risk criteria and how these play a critical role
in the overall effectiveness of risk management
· To understand the changing role for internal and external audit
and the demands that are being placed on both groups to step up
to the plateTo understand the role of the board and its various
committees in a company’s overall effectiveness of risk
managementTo understand the key organizations and materials
from around the globe that are playing a profound thought
leadership role in risk management to further enhance
education/thinking in this field.
Chapter 25: Uses of Efficient Frontier Analysis in Strategic
Risk ManagementA Technical Examination. Keep in mind the
questions presented for this case for our discussion forum are
meant to provoke a discussion only. There are no right or wrong
answers. It is perfectly acceptable to declare “I don’t know” as
an answer. To help a little in this analysis process, reference
below key examinations options around EFA as follows.
· Think of EFA as a dynamic framework within which to
explore risks. How the framework presents or is used may be
3. different depending upon the question or questions being
explored. Discuss what frameworking means, and how EFA
could play a role.
· Think of EFA as a specific tool. What does the math do? How
should you collect and exploit risk portfolio information? What
would you do if your risk information is not robust enough or
not consistent enough to drive a complete EFA analysis? How
would you supplement the information set?
· Think of EFA as a solution validator. What types of risk
mitigation or risk finance approaches can benefit from EFA
analysis prior to implementation? How does complex insurance
structuring, use of capital markets solutions, or captive
insurance techniques benefit from EFA outcomes?
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Additional Praise for
Implementing Enterprise Risk Management
“Educators the world over seeking to make the management of
risk an integral part
of management degrees have had great difficulties in providing
their students with
a definitive ERM text for their course. The Standards and
associated Handbooks
4. helped, but until the arrival of Implementing Enterprise Risk
Management: Case Stud-
ies and Best Practices, there has been no text to enlighten
students on the application
of an effective program to manage risk across an enterprise so
that objectives are
maximized and threats minimized. Fraser, Simkins, and Narvaez
have combined
with a group of contributors that represent the cream of risk
practitioners, to pro-
vide the reader with a clear and concise journey through the
management of risk
within a wide range of organizations and industries. The
knowledge, skills, and
experience in the management of risk contained within the
covers of this book are
second to none. It will provide a much needed resource to
students and practition-
ers for many years to come and should become a well-used
reference on the desk
of every manager of risk.”
—Kevin W. Knight AM, chairman, ISO/TC 262—Risk
Management
“The authors—Fraser, Simkins, and Narvaez—have done an
invaluable service to
advance the science of enterprise risk management by collecting
an extensive num-
ber of wonderful case studies that describe innovative risk
management practices
in a diverse set of companies around the world. This book
should be an extremely
valuable source of knowledge for anyone interested in the
emerging and evolving
field of risk management.”
5. —Robert S. Kaplan, senior fellow, Marvin Bower Professor of
Leadership
Development, emeritus, Harvard University
“Lessons learned from case studies and best practices represent
an efficient way
to gain practical insights on the implementation of ERM.
Implementing Enterprise
Risk Management provides such insights from a robust
collection of ERM pro-
grams across public companies and private organizations. I
commend the editors
and contributors for making a significant contribution to ERM
by sharing their
experiences.”
—James Lam, president, James Lam & Associates; director and
Risk Oversight
Committee chairman, E∗ TRADE Financial Corporation;
author, Enterprise Risk Management—From Incentives to
Controls
“For those who still think that enterprise risk management is
just a fad, the varied
examples of practical value-generating uses contained in this
book should dispel
any doubt that the discipline is here to stay! The broad
collection of practices is
insightful for students, academics, and executives, as well as
seasoned risk man-
agement professionals.”
—Carol Fox, ARM, director of Strategic and Enterprise Risk
Practice, RIMS
6. “Managing risk across the enterprise is the new frontier of
business management.
Doing so effectively, in my view, will be the single most
important differentiating
factor for many enterprises in the twenty-first century.
Implementing Enterprise Risk
Management: Case Studies and Best Practices is an innovative
and important addition
to the literature and contains a wealth of insight in this critical
area. This book’s
integration of theory with hands-on, real-world lessons in
managing enterprise
risk provides an opportunity for its readers to gain insight and
understanding that
could otherwise be acquired only through many years of hard-
earned experience.
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I highly recommend this book for use by executives, line
managers, risk managers,
and business students alike.”
—Douglas F. Prawitt, professor of Accounting at Brigham
Young University,
and Committee of Sponsoring Organizations (COSO)
Executive Board member
“The real beauty of and value in this book is its case study
focus and the wide
variety of firms profiled and writers’ perspectives shared. This
7. will provide readers
with a wealth of details and views that will help them chart an
ERM journey of their
own that is more likely to fit the specific and typically
customized ERM needs of
the firms for whom they toil.”
—Chris Mandel, senior vice president, Strategic
Solution
s for Sedgwick;
former president of the Risk Management Society
and the 2004 Risk Manager of the Year
“Implementing Enterprise Risk Management looks at many
industries through excel-
lent case studies, providing a real-world base for its
recommendations and an
important reminder that ERM is valuable in many industries. I
highly recommend
this text.”
—Russell Walker, Clinical associate professor, Kellogg School
of Management;
author of Winning with Risk Management
8. “The body of knowledge in Implementing Enterprise Risk
Management continues to
develop as business educators and leaders confront a complex
and rapidly chang-
ing environment. This book provides a valuable resource for
academics and prac-
titioners in this dynamic area.”
—Mark L. Frigo, director, Strategic Risk Management Lab,
Kellstadt Graduate School of Business, DePaul University
“The management of enterprise risk is one of the most vexatious
problems con-
fronting boards and executives worldwide. This is why this
latest book by Fraser,
Simkins, and Narvaez is a much needed and highly refreshing
approach to the sub-
ject. The editors have managed to assemble an impressive list of
contributors who,
through a series of fascinating real-life case studies, adroitly
help educate readers
to better understand and deal with the myriad of risks that can
assault, seriously
maim, and/or kill an organization. This is a ‘how to’ book
9. written with the ‘risk
management problem solver’ in mind. It provides the link that
has been missing
for effectively teaching ERM at the university and executive
education levels and
it is an exceptional achievement by true risk management
advocates.”
—Dr. Chris Bart, FCPA, founder and lead faculty,
The Directors College of Canada
“The Institute of Risk Management welcomes the publication of
this highly practi-
cal text which should be of great interest to our students and
members around the
world. Implementing Enterprise Risk Management brings
together a fine collection of
detailed case studies from organizations of varying sizes and
working in differ-
ent sectors, all seeking to enhance their business performance
by managing their
risks more effectively, from the boardroom to the shop floor.
This book makes a
valuable contribution to the body of knowledge of what works
that will benefit the
10. development of the risk profession.”
—Carolyn Williams, technical director, Institute of Risk
Management
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IMPLEMENTING
ENTERPRISE RISK
MANAGEMENT
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The Robert W. Kolb Series in Finance provides a
comprehensive view of the field
of finance in all of its variety and complexity. The series is
projected to include
approximately 65 volumes covering all major topics and
specializations in finance,
11. ranging from investments, to corporate finance, to financial
institutions. Each vol-
ume in the Kolb Series in Finance consists of new articles
especially written for
the volume.
Each volume is edited by a specialist in a particular area of
finance, who develops
the volume outline and commissions articles by the world’s
experts in that partic-
ular field of finance. Each volume includes an editor’s
introduction and approx-
imately thirty articles to fully describe the current state of
financial research and
practice in a particular area of finance.
The essays in each volume are intended for practicing finance
professionals, grad-
uate students, and advanced undergraduate students. The goal of
each volume is
to encapsulate the current state of knowledge in a particular
area of finance so that
the reader can quickly achieve a mastery of that special area of
finance.
14. Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-
6008, or online at
http://www.wiley.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher
and author have used their
best efforts in preparing this book, they make no representations
or warranties with
respect to the accuracy or completeness of the contents of this
book and specifically
disclaim any implied warranties of merchantability or fitness
for a particular purpose. No
warranty may be created or extended by sales representatives or
written sales materials.
The advice and strategies contained herein may not be suitable
for your situation. You
should consult with a professional where appropriate. Neither
the publisher nor author
shall be liable for any loss of profit or any other commercial
damages, including but not
limited to special, incidental, consequential, or other damages.
For general information on our other products and services or
for technical support, please
contact our Customer Care Department within the United States
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Wiley publishes in a variety of print and electronic formats and
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Some material included with standard print versions of this
book may not be included in
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not included in the version you purchased, you may download
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Wiley products, visit
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Library of Congress Cataloging-in-Publication Data:
ISBN 978-1-118-69196-0 (Hardcover)
ISBN 978-1-118-74576-2 (ePDF)
ISBN 978-1-118-74618-9 (ePub)
Printed in the United States of America.
10 9 8 7 6 5 4 3 2 1
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16. http://www.copyright.com
http://www.wiley.com/go/permissions
http://booksupport.wiley.com
http://www.wiley.com
http://www.it-ebooks.info/
To Wendy, my wonderful wife and my inspiration, and to my
parents who instilled in me a lifelong thirst for learning.
—John Fraser
To my husband (Russell) and our family: sons and daughters-
in-law (Luke & Stephanie and Walt & Lauren), daughter and
son-in-law (Susan & Jason), and our youngest daughter (April).
Thank you for your love, support, and encouragement!
—Betty Simkins
I would like to thank my husband and four children for support-
ing me on my journey of writing two chapters and co-editing
this
book. I would also like to thank the Risk and Insurance Manage-
ment Society for supporting me during my educational years
17. and providing great workshops and conferences on enterprise
risk management.
—Kristina Narvaez
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Contents
Foreword xiii
1 Enterprise Risk Management Case Studies:
An Introduction and Overview 1
John R.S. Fraser, Betty J. Simkins, and Kristina Narvaez
PART I Overview and Insights for Teaching ERM 17
18. 2 An Innovative Method to Teaching Enterprise Risk
Management: A Learner-Centered Teaching Approach 19
David R. Lange and Betty J. Simkins
PART II ERM Implementation at Leading Organizations 37
3 ERM at Mars, Incorporated: ERM for Strategy
and Operations 39
Larry Warner
4 Value and Risk: Enterprise Risk Management at Statoil 59
Alf Alviniussen and Håkan Jankensgård
5 ERM in Practice at the University of California
Health System 75
Grace Crickette
6 Strategic Risk Management at the LEGO Group:
Integrating Strategy and Risk Management 93
Mark L. Frigo and Hans Læssøe
7 Turning the Organizational Pyramid Upside Down:
Ten Years of Evolution in Enterprise Risk Management
at United Grain Growers 107
John Bugalla
19. ix
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x Contents
8 Housing Association Case Study of ERM in a
Changing Marketplace 119
John Hargreaves
9 Lessons from the Academy: ERM Implementation in
the University Setting 143
Anne E. Lundquist
10 Developing Accountability in Risk Management: The
British Columbia Lottery Corporation Case Study 179
Jacquetta C. M. Goy
11 Starting from Scratch: The Evolution of ERM at the
Workers’ Compensation Fund 207
Dan M. Hair
20. 12 Measuring Performance at Intuit: A Value-Added
Component in ERM Programs 227
Janet Nasburg
13 TD Bank’s Approach to an Enterprise Risk
Management Program 241
Paul Cunha and Kristina Narvaez
PART III Linking ERM to Strategy and Strategic
Risk Management 251
14 A Strategic Approach to Enterprise Risk Management
at Zurich Insurance Group 253
Linda Conrad and Kristina Narvaez
15 Embedding ERM into Strategic Planning at the City
of Edmonton 281
Ken Baker
16 Leveraging ERM to Practice Strategic Risk Management 305
John Bugalla and James Kallman
PART IV Specialized Aspects of Risk Management 319
21. 17 Developing a Strategic Risk Plan for the Hope City
Police Service 321
Andrew Graham
18 Blue Wood Chocolates 335
Stephen McPhie and Rick Nason
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CONTENTS xi
19 Kilgore Custom Milling 363
Rick Nason and Stephen McPhie
20 Implementing Risk Management within Middle
Eastern Oil and Gas Companies 377
Alexander Larsen
21 The Role of Root Cause Analysis in Public Safety
ERM Programs 397
Andrew Bent
22. 22 JAA Inc.—A Case Study in Creating Value from
Uncertainty: Best Practices in Managing Risk 427
Julian du Plessis, Arnold Schanfield, and Alpaslan Menevse
23 Control Complacency: Rogue Trading
at Société Générale 461
Steve Lindo
24 The Role of VaR in Enterprise Risk Management:
Calculating Value at Risk for Portfolios Held by the
Vane Mallory Investment Bank 489
Allissa A. Lee and Betty J. Simkins
25 Uses of Efficient Frontier Analysis in Strategic Risk
Management: A Technical Examination 501
Ward Ching and Loren Nickel
PART V Mini-Cases on ERM and Risk 523
26 Bim Consultants Inc. 525
John R.S. Fraser
27 Nerds Galore 529
Rob Quail
23. 28 The Reluctant General Counsel 535
Norman D. Marks
29 Transforming Risk Management at Akawini Copper 539
Grant Purdy
30 Alleged Corruption at Chessfield: Corporate
Governance and the Risk Oversight Role of the Board
of Directors 547
Richard Leblanc
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xii Contents
31 Operational Risk Management Case Study:
Bon Boulangerie 555
Diana Del Bel Belluz
PART VI Other Case Studies 559
32 Constructive Dialogue and ERM: Lessons from the
24. Financial Crisis 561
Thomas H. Stanton
33 Challenges and Obstacles of ERM Implementation
in Poland 577
Zbigniew Krysiak and Sl̄ awomir Pijanowski
34 Turning Crisis into Opportunity: Building an ERM
Program at General Motors 607
Marc S. Robinson, Lisa M. Smith, and Brian D. Thelen
35 ERM at Malaysia’s Media Company Astro: Quickly
Implementing ERM and Using It to Assess the
Risk-Adjusted Performance of a Portfolio of Acquired
Foreign Companies 623
Patrick Adam K. Abdullah and Ghislain Giroux Dufort
About the Editors 649
Index 651
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25. Foreword
E
nterprise Risk Management is an evolving discipline focused on
a com-
plex and still imperfectly-understood subject. In such a
situation, science is
advanced best by collecting data from multiple, independent
sites. A rich
set of observations educates the field’s scholars and
practitioners and provides the
foundation for them to develop descriptive and normative
theories as well as cod-
ified best practices about the subject.
The authors—Fraser, Simkins, and Narvaez—have done an
invaluable service
to advance the science of enterprise risk management by
collecting an extensive
number of wonderful case studies that describe innovative risk
management prac-
tices in a diverse set of companies around the world. This book
should be an
26. extremely valuable source of knowledge for anyone interested
in the emerging
and evolving field of risk management. We should be grateful to
the editors and
to each chapter author for expanding the body of knowledge for
risk management
professionals and academics.
Robert S. Kaplan
Senior Fellow, Marvin Bower Professor
of Leadership Development, Emeritus
Harvard University
xiii
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27. CHAPTER 1
Enterprise Risk Management
Case Studies
An Introduction and Overview
JOHN R.S. FRASER
Senior Vice President, Internal Audit, and former Chief Risk
Officer, Hydro One
Networks Inc.
BETTY J. SIMKINS
Williams Companies Chair of Business and Professor of
Finance, Oklahoma State
University
KRISTINA NARVAEZ
President and Owner of ERM Strategies, LLC
Businesses, business schools, regulators, and the public are now
scrambling to
catch up with the emerging field of enterprise risk management.
—Robert Kaplan (quote from Foreword in Fraser and Simkins,
28. 2010)
Most executives with MBA degrees were not taught ERM. In
fact, there are only
a few universities that teach ERM. So some business school
graduates are strong
in finance, marketing, and management theory, but they are
limited in terms of
critical thinking, business acumen, and risk analysis skills.
—Paul Walker1
THE EVOLUTION OF ENTERPRISE
RISK MANAGEMENT
Over the past two decades enterprise risk management (ERM)
has evolved
from concepts and visions of how risks should be addressed to a
method-
ology that is becoming entrenched in modern management and
is now
increasingly expected by those in oversight roles (e.g.,
governing bodies and
regulators). As Felix Kloman describes in his chapter “A Brief
History of Risk Man-
agement,” published in Fraser and Simkins (2010), many of the
29. concepts go back
a very long time and many of the so-called newly discovered
techniques can be
1
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2 Implementing Enterprise Risk Management
referenced to the earlier writings and practices described by
Kloman. However,
it is only from around the mid-1990s that the concept of giving
a name to manag-
ing risks in a holistic way across the many operating silos of an
enterprise started
to take hold. In the 1990s, terms such as integrated risk
management and enterprise-
wide risk management were also used. Many thought leaders,
for example, those
who created ISO 31000,2 believe that the term risk management
is all that is needed
30. to describe good risk management; however, many others
believe that the latter
term is often used to describe risk management at the lower
levels of the organiza-
tion and does not necessarily capture the concepts of enterprise-
level approaches
to risk. As a result, the term ERM is used throughout this book.
As ERM continues to evolve there is still much discussion and
confusion over
exactly what it is and how it should be achieved. It is important
to realize that
it is still evolving and may take many more years before it is
fully codified and
practiced in a consistent way. In fact, there is a grave danger
now of believing
that there is only one way of doing ERM. This is probably a
mistake by regula-
tors who have too eagerly seized some of these concepts and are
trying to impose
them when the methods are not fully understood, and in some
cases the require-
ments are unlikely to produce the desired results. As Fraser and
Simkins (2010)
noted in their first book on ERM: “While regulatory interest can
31. force ERM into
companies, if not done well, it can become another box-ticking
exercise that adds
little value.”3
The leading and most commonly agreed4 guideline to holistic
risk manage-
ment is ISO 31000. However, it should be mentioned that in the
United States
the COSO 2004 Enterprise Risk Management–Integrated
Framework has been the
dominant framework used to date. Many organizations are
currently adopting
one or the other of these frameworks and then customizing them
to their own
context.
WHY THE NEED FOR A BOOK WITH ERM
CASE STUDIES?
Following the success of the earlier Enterprise Risk
Management: Today’s Leading
Research and Best Practices for Tomorrow’s Executives by
Fraser and Simkins (2010),
we found through our own teaching experiences, and by talking
to others, that
32. there was an urgent need for a university-level textbook of ERM
case studies to
help educate executives, risk practitioners, academics, and
students alike about
the evolving methodology. As a result, Fraser and Simkins,
together with Kristina
Narvaez, approached many of the leading ERM specialists to
write case studies for
this book.
Surveys have also shown that there is a dire need for more case
studies on ERM
(see Fraser, Schoening-Thiessen, and Simkins 2008).
Additionally, surveys of risk
executives report that business risk is increasing due to new
technologies, faster
rate of change, increases in regulatory risk, and more (PWC
2014). As Paul Walker
of St. John’s University points out in the opening quote of the
2014 American Pro-
ductivity & Quality Center (APQC) report on ERM, “Most
executives with MBA
degrees were not taught ERM. In fact, there are only a few
universities that teach
ERM. So some business school graduates are strong in finance,
33. marketing, and
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ENTERPRISE RISK MANAGEMENT CASE STUDIES 3
management theory, but they are limited in terms of critical
thinking, business acu-
men, and risk analysis skills.” Learning Centered Teaching
(LCT), as discussed in
Chapter 2, is an ideal way to achieve this. Using LCT and the
case study approach,
students actively participate in the learning process through
constructive reflective
reasoning, critical thinking and analysis, and discussion of key
issues. This is the
first book to provide such a broad coverage of case studies on
ERM.
The case studies that follow are from some of the leading
academics and prac-
titioners of enterprise risk management. While many of the
34. cases are about real-life
situations, there are also those that, while based on real-life
experiences, have had
names changed to maintain confidentiality or are composites of
several situations.
We are deeply indebted to the authors and to the organizations
that agreed so
kindly to share their stories to help benefit future generations of
ERM practition-
ers. In addition, we have added several chapters where we feel
the fundamentals
of these specialized techniques (e.g., VaR) deserve to be
understood by ERM stu-
dents and practitioners. Each case study provides opportunities
for executives, risk
practitioners, and students to explore what went well, what
could have been done
differently, and what lessons are to be learned.
Teachers of ERM will find a wealth of material to use in
demonstrating ERM
principles to students. These can be used for term papers or
class discussions, and
the approaches can be contrasted to emphasize different
contexts that may require
35. customized approaches. This book introduces the reader to a
wide range of con-
cepts and techniques for managing risks in a holistic way, by
correctly identifying
risks and prioritizing the appropriate responses. It offers a
broad overview of the
various types of ERM techniques, the role of the board of
directors, risk tolerances,
profiles, workshops, and allocation of resources, while focusing
on the principles
that determine business success.
Practitioners interested in implementing ERM, enhancing their
knowledge on
the subject, or wishing to mature their ERM program, will find
this book an abso-
lute must resource to have. Case studies are one of the best
ways to learn more on
this topic.
This book is a companion to Enterprise Risk Management:
Today’s Leading
Research and Best Practices for Tomorrow’s Executives (Fraser
and Simkins 2010).
Together, these two books can create a curriculum of study for
36. business students
and risk practitioners who desire to have a better understanding
of the world of
enterprise risk management and where it is heading in the
future. Boards and
senior leadership teams in progressive organizations are now
engaging in building
ERM into their scenario-planning and decision-making
processes. These forward-
looking organizations are also integrating ERM into the
business-planning pro-
cess with resource allocation and investment decisions. At the
business unit
level, ERM is being used to measure the performance of risk-
taking activities of
employees.
As these case studies demonstrate, ERM is a continuous
improvement process
and takes time to evolve. As can be gleaned from these case
studies, most firms that
have taken the ERM journey started with a basic ERM language,
risk identification,
and risk-assessment process and then moved down the road to
broaden their pro-
37. grams to include risk treatments, monitoring, and reporting
processes. The ulti-
mate goal of ERM is to have it embedded into the risk culture of
the organization
and drive the decision-making process to make more sound
business decisions.
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4 Implementing Enterprise Risk Management
SUMMARY OF THE BOOK CHAPTERS
As mentioned earlier, the purpose of this book is to provide
case studies on ERM
in order to educate executives, risk practitioners, academics,
and students alike
about this evolving methodology. To achieve this goal, the book
is organized into
the following sections:
Part I: Overview and Insights for Teaching ERM
Part II: ERM Implementation at Leading Organizations
38. Part III: Linking ERM to Strategy and Strategic Risk
Management
Part IV: Specialized Aspects of Risk Management
Part V: Mini-Cases on ERM and Risk
Part VI: Other Case Studies
Brief descriptions of the contributors and the chapters are
provided next.
PART I: OVERVIEW AND INSIGHTS FOR
TEACHING ERM
The first two chapters provide an overview of ERM and
guidance on ERM educa-
tion. As we have pointed out, education on ERM is crucial and
more universities
need to offer courses in this area. Our conversations with many
ERM educators
and consultants highlight how extremely challenging it is to
achieve excellence in
ERM education.
Chapter 2, “An Innovative Method to Teaching Enterprise Risk
Manage-
ment: A Learner-Centered Teaching Approach,” offers insights
and suggestions
39. on teaching ERM. This chapter covers the concept of flipping
the classroom with
learner-centered teaching (LCT), distinguishes it from
traditional lectures, and
describes how it can be used in teaching ERM. The LCT
approach emphasizes
active student participation and collaboration on in-class
activities such as case
studies versus the traditional lecture approach. This chapter
provides several
examples as to how LCT can be applied in teaching ERM,
utilizing Fraser and
Simkins’ (2010) book. David R. Lange and Betty J. Simkins,
both experienced ERM
educators, team together to write this chapter. David Lange,
DBA, is an Auburn
University Montgomery (AUM) Distinguished Research and
Teaching Professor of
Finance. He has received many prestigious awards for both
research and teaching
from the University and from several academic associations. He
has taught many
courses in the area of risk management and has consulted in a
significant num-
ber of individual and class insurance–related cases in both state
40. and federal court.
Betty Simkins, PhD, the Williams Companies Chair of Business
and Professor of
Finance at Oklahoma State University, is coeditor of this book.
PART II: ERM IMPLEMENTATION AT
LEADING ORGANIZATIONS
Part II is a collection of ERM case studies that give examples of
how ERM was
developed and applied in major organizations around the world.
Note that there
is no perfect ERM case study and the objective is for readers to
assess what they
believe was successful or not so successful about these ERM
programs.
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ENTERPRISE RISK MANAGEMENT CASE STUDIES 5
The first case study in this book describes ERM at Mars, Inc.
Larry Warner, who
41. is the former corporate risk manager at Mars, Inc. and now is
president of Warner
Risk Group, describes the ERM program at the company in
Chapter 3. Mars is
a global food company and one of the largest privately held
corporations in the
United States. It has more than 72,000 associates and annual net
sales in excess
of $33 billion across six business segments—Petcare,
Chocolate, Wrigley, Food,
Drinks, and Symbioscience. Its brands include Pedigree, Royal
Canin, M&M’s,
Snickers, Extra, Skittles, Uncle Ben’s, and Flavia. With such
complex business oper-
ations, Mars recognized the importance of providing its
managers with a tool to
knowledgably and comfortably take risk in order to achieve its
long-term goals.
Mars business units use its award-winning process to test their
annual operating
plan and thereby increase the probability of achieving these
objectives.
The case study in Chapter 4 entitled “Value and Risk: ERM in
Statoil” was writ-
42. ten by Alf Alviniussen, who is the former Group Treasurer and
Senior Vice Pres-
ident of Norsk Hydro ASA, Oslo, Norway, and Håkan
Jankensgård who holds
a PhD in risk management from Lund University, Sweden.
Håkan is also a for-
mer risk manager of Norsk Hydro. In this case study, the
authors discuss ERM at
Statoil, one of the top oil and gas companies in the world,
located in Norway. In
Statoil, understanding and managing risk is today considered a
core value of the
company, which is written into the corporate directives and
widely communicated
to employees. ERM is thoroughly embedded in the
organization’s work processes,
and its risk committee has managed the transition from a “silo”-
mentality to pro-
moting Statoil’s best interests in areas where risk needs to be
considered.
Chapter 5, called “ERM in Practice at University of California
Health Systems,”
is written by their former Chief Risk Officer (CRO), Grace
Crickette, who is now
43. the Senior Vice President and Chief Risk and Compliance
Officer of AAA Northern
California, Nevada, and Utah. The University of California’s
(UC) Health System
is comprised of numerous clinical operations, including five
medical centers that
support the clinical teaching programs for the university’s
medical and health sci-
ence school and handle more than three million patient visits
each year. ERM plays
an important role at the UC Health System and assists the
organization in assess-
ing and responding to all risks (operational, clinical, business,
accreditation, and
regulatory) that affect the achievement of the strategic and
financial objectives of
the UC Health System.
The descriptive case study in Chapter 6, written by Dr. Mark
Frigo from
DePaul University and Hans Læssøe, the Strategic Risk
Manager of the LEGO
Group, provides a great example of integrating risk management
in strategy devel-
opment and strategy execution at the LEGO Group, which is
44. based on an initiative
started in late 2006 and led by co-author Hans Læssøe. The
LEGO methodology is
also part of the continuing work of the Strategic Risk
Management Lab at DePaul
University, which is identifying and developing leading
practices in integrating
risk management with strategy development and execution.
United Grain Growers (UGG), a conservative 100-year-old
Winnipeg, Canada-
based grain handler and distributor of farm supplies, was an
ERM pioneer. Chap-
ter 7 called “Turning the Organizational Pyramid Upside Down:
Ten Years of Evo-
lution in Enterprise Risk Management at United Grain Growers”
analyzes the ERM
program at United Grain Growers 15 years later. When UGG
announced that it
had implemented a new integrated risk-financing program in
1999, it received
a great deal of attention in the financial press. CFO magazine
hailed the UGG
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6 Implementing Enterprise Risk Management
program as “the deal of the decade.” The Economist
characterized it as a “revo-
lutionary advance in corporate finance,” and Harvard University
created a UGG
case study. While most outside attention focused on the direct
financial benefits
of implementing the program (protection of cash flow, the
reduced risk-capital
required, and a 20 percent increase in stock price), scant
attention was given to the
less tangible and therefore less measurable issues of
governance, leadership, and
corporate culture—the conditions that enabled such innovation.
It was a combi-
nation of a collaborative leadership open to new ideas, a culture
of controlled risk
taking, and active risk oversight by the board that produced a
strategic approach
to UGG’s risk management process. This chapter is written by
46. John Bugalla, who
is the principal of ermINSIGHTS.
John Hargreaves has written Chapter 8 titled “Housing
Association Case
Study of ERM in a Changing Marketplace.” He has a
mathematics degree from
Cambridge University and six years strategy consultancy
experience at KPMG.
This case study features four real-life charitable housing
associations in England
and Wales, each with a different strategy and risk environment.
Simple yet prac-
tical tools to assist in risk identification and prioritization are
also presented. This
case study has two main aims. The first is to help develop an
understanding of
the importance of ERM in a charitable context, showing that
modern charities are
often very active organizations that face significant risks.
Second, the case aims to
illustrate the need for a close relationship between risk
assessment and strategy
development, particularly in sectors where objectives are
defined in social as well
47. as economic terms. Each of the four cases has a different
perspective and challenges
the student or practitioner to identify and assess the risk and
develop possible risk
treatments for each.
Chapter 9, “Lessons from the Academy: ERM Implementation in
the Univer-
sity Setting,” was written by Anne E. Lundquist. She is
pursuing a PhD in the
Educational Leadership program at Western Michigan
University with a concen-
tration in Higher Education Administration. This chapter
explores the unique
aspects of the University of Washington’s (UW) risk
environment, including how
leadership, goal-setting, planning, and decision-making differ
from the for-profit
sector. The lack of risk management regulatory requirements,
combined with cul-
tural and environmental differences, helps explain why there are
a limited number
of fully evolved ERM programs at colleges and universities.
The second half of the
chapter explores the decision to adopt and implement ERM at
48. UW, including a
description of early decisions, a timeline of how the program
evolved, a discus-
sion of the ERM framework, and examples of some of the tools
used in the risk
management process. It traces the evolution of the UW program
as well as demon-
strates decisions that administrators made to tailor ERM to fit
the decentralized
culture of a university.
The case study in Chapter 10, “Developing Accountability in
Risk Manage-
ment: The British Columbia Lottery Corporation Case Study,”
demonstrates how
ERM was successfully implemented in a Canadian public sector
organization over
a 10-year period. Jacquetta Goy, author of this chapter, was the
Senior Manager,
Risk Advisory Services at British Columbia Lottery Corporation
and was respon-
sible for establishing and developing the ERM program.
Currently, Jacquetta is
the Director of Risk Management at Thompson Rivers
University, Canada. This
49. case study focuses on initiation, early development, and
sustainment of the ERM
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ENTERPRISE RISK MANAGEMENT CASE STUDIES 7
program, highlighting some of the barriers and enablers that
affected implemen-
tation. This case study includes a focus on developing risk
profiles; the role of
risk managers, champions, and committees; and the
development of effective risk
evaluation tools. The approach to ERM has evolved from
informal conversations
supported by an external assessment, through a period of high-
level corporate
focus supported by a dedicated group of champions using voting
technology to
an embedded approach, where risk assessment is incorporated
into both opera-
tional practice and planning.
50. Chapter 11, “Starting from Scratch: The Evolution of ERM at
the Workers Com-
pensation Fund,” describes the evolution of a formal ERM
program at a midsize
property casualty insurance carrier. This chapter is authored by
Dan Hair, the CRO
of the Workers Compensation Fund. In this chapter, the
motivations of executive
management and the board of directors in taking existing
strategic risk manage-
ment discussions to a higher level are reviewed. The step-by-
step actions taken by
the company to develop the ERM program are explained in
chronological order.
External resources used are also commented upon. The chapter
concludes with a
discussion of striking an ongoing balance between program
rigor, documentation,
and business needs.
Chapter 12, “Measuring Performance at Intuit: A Value-Added
Component
in ERM Programs,” shows how Intuit, maker of Quicken,
QuickBooks, and Turbo-
51. Tax, is committed to creating new and easier ways for
consumers and businesses to
tackle life’s financial chores, giving them more time to live
their lives and
run their businesses. This case study shows how Intuit, a global
company, is
exposed to a wide range of customer-related and operational
risks. Understand-
ing the risk landscape enables Intuit to formulate and execute
strategies to address
potential pitfalls and opportunities. The author, Janet Nasburg,
is Chief Risk Offi-
cer at Intuit. Janet is responsible for driving Intuit’s ERM
capability, ensuring that
the company appropriately balances opportunities and risks to
achieve optimal
business results. Before Intuit, Janet spent 16 years in various
finance roles at Visa,
and has more than 30 years of risk management and finance
experience.
Chapter 13 describes TD Bank’s ERM program and how it has
been developed
to reinforce the risk culture and ensure that all stakeholders
have a common under-
52. standing of how risks are addressed within the organization.
This is achieved by
identifying the risks to TD Bank’s business strategy and
operations, determining
the types of risk it is prepared to take, establishing policies and
practices to gov-
ern risks, and following an ERM framework to manage those
risks. This chapter is
co-authored by Paul Cunha and Kristina Narvaez. Paul Cunha is
Vice President,
Enterprise Risk Management at TD Bank. During his career at
TD Bank, he has
spent time in risk management, internal audit, retail banking,
commercial bank-
ing, and corporate and investment banking. Kristina Narvaez is
the president and
owner of ERM Strategies, LLC, and is co-editor of this book.
PART III: LINKING ERM TO STRATEGY AND
STRATEGIC RISK MANAGEMENT
Part III of this book demonstrates the link between ERM and
strategy in what is
now being called strategic risk management (SRM). SRM
represents an important
evolution in enterprise risk management, shifting from a
53. reactive approach to a
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8 Implementing Enterprise Risk Management
proactive approach in dealing with the large spectrum of risks
across the organi-
zation. These case studies view their risk-taking activities in a
strategic way, not
only to protect the organization’s value and assets, but also to
be able to capture
new value that is in alignment with the strategic goals of the
organization.
Zurich Insurance Group, the case study in Chapter 14,
demonstrates the link
between ERM and strategy. Zurich is a global insurance carrier
and is exposed to
a wide range of risks. Zurich recognizes that taking the right
risks is a necessary
part of growing and protecting shareholder value. It is careful
54. not to miss valu-
able market opportunities that could attract the best talent and
investor capital, but
must also balance the growth opportunities with the reality that
it is operating in
a complex world economy. This chapter is co-authored by Linda
Conrad, Director
of Strategic Business Risk Management at Zurich and Kristina
Narvaez, president
and owner of ERM Strategies, LLC and co-editor of this book.
Linda leads a global
team responsible for delivering tactical solutions to Zurich and
to its customers on
strategic issues such as business resilience, supply chain risk,
ERM, risk culture,
and total risk profiling.
Chapter 15, “Embedding ERM into Strategic Planning at the
City of Edmon-
ton,” is written by Ken Baker, who is their ERM Program
Manager. This study
examines the process used by the City of Edmonton in Alberta,
Canada, to estab-
lish its strategic ERM model. After examining several existing
frameworks, the
55. City decided on a framework based on the ISO 31000 risk
management standard,
but customized to suit the City’s needs. During the process,
administration had
to weigh factors common to any large organization, as well as
those specific to
governments in general and municipalities in particular. The
chronicling of this
process may assist those in similar organizations to more
successfully implement
their own ERM and SRM programs.
Chapter 16 describes a brief history of the evolution of
enterprise risk
management and describes a new and innovative approach
(value mapping) to
measuring the potential value by taking risks. This chapter also
provides a model
for incorporating the ERM process into strategic planning. John
Bugalla, Principal
of ermINSIGHTS and author of Chapter 7, and James Kallman,
a finance professor
at St. Edward’s University, co-author this chapter. John’s
experience includes
30 years in the risk management profession serving as
56. Managing Director of
Marsh & McLennan, Inc., Willis Group, Plc., and Aon Corp.,
before founding
ermINSIGHTS. James teaches courses in finance, statistics, and
risk management.
PART IV: SPECIALIZED ASPECTS OF
RISK MANAGEMENT
Part IV of the book captures unique aspects of ERM so that the
reader can learn
about the many broad applications, including insights into
managing specific
types of risk. This part starts with a case study in Chapter 17 of
the challenges
of risk management within a typical police department. This
case is followed by
eight additional chapters addressing other intriguing aspects of
risk management.
Andrew Graham reveals the complex and challenging aspects of
risk manage-
ment in Chapter 17, “Developing a Strategic Risk Plan for the
Hope City Police Ser-
vice.” This fictional case study was developed based on many
years of teaching risk
57. management to police forces. The setting is a medium-sized but
growing city that
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ENTERPRISE RISK MANAGEMENT CASE STUDIES 9
is facing many issues, including changes in demographics,
traffic issues, budgetary
challenges, and so on. The student is required to act as a
consultant who has been
hired by the chief of police to assist him in briefing the Police
Services Board and the
mayor in understanding the most critical risks to their objective
of having a best-
in-class police service for their citizens. Andrew Graham
researches, teaches, and
writes on public-sector management, financial management,
integrated risk man-
agement, and governance at Queen’s University School of
Policy Studies, Canada,
as well as a variety of international and Canadian venues.
58. Andrew had an exten-
sive career in Canada’s criminal justice system and has taught
and worked with
police services and police boards and commissioners in a
variety of ways for the
past 10 years.
Chapter 18, “Blue Wood Chocolates,” is designed to facilitate
discussion of the
implementation of an ERM framework, corporate governance
issues, and com-
modity risk management. The situation that this fictional
company faces is typi-
cal of many midsize companies that have performed
satisfactorily in the past but
are exposed, often unknowingly, to major potential risks and do
not have the
internal governance and risk management structures to identify,
quantify, and
manage such risks adequately. In particular, this case illustrates
commodity and
foreign currency exposures, and challenges the student to
investigate the specifics
of hedging such positions. Rick Nason, PhD, CFA, and Stephen
McPhie, CA, coau-
59. thored this chapter. Rick is an associate professor of finance at
Dalhousie Univer-
sity, Canada, and is also a founding partner of RSD