Sustainable Business Practices In A Dynamic Global Environment
DETAILS OF ASSIGNMENT
STUDENT NAMES:
IDS:
Adele Ewing
100317737
UNIT CODE * NAME
2014-OU3-BUS-60002 Sustainable Business Practices in a Dynamic Global Environment
ASSESSMENT TITLE
Assessment 2-Individual Report
TUTOR’S NAME:
Terry Landells
DATE OF SUBMISSION:
27 Oct 14
DECLARATION
We declare that ( the first four boxes must be completed for the assignment to be accepted): x This assignment does not contain any material that has previously been submitted for assessment at this or any other university. x This is an original piece of work and no part has been completed by any other student than those signed below. x We have read and understood the avoiding plagiarism guidelines at http://www.swinburne.edu.au/ltas/plagiarism/students.htm …show more content…
In accordance with Hillson and Murray Webster (2007), whose work determined a number of techniques for identifying risk, an effective way of identifying the risk presented to NCI in this case would be through the use of checklists, workshops and audits. These measures would enable employees of NCI to identity what potential and current clients could pose an ethical risk.
Following the identification of a risk, the assessment of it should naturally follow. While there are many flaws in the various ways risk is assessed, largely due to the issue of perception, there remain both qualitative and quantitative methods of measuring risk. Methods of risk assessment identified by Hubbard (2009, p.24-27) include expert intuition, expert audit, simple stratification methods, weighted scores and probabilistic models, all of which are recommended in the assessment of risk at …show more content…
Conclusion
To conclude, National Credit Insurance Brokers need to further develop their current sustainable business operations through a more effective stakeholder engagement as a way of mitigating risk. The ethical risk identified has the potential to threaten the NCI brand and consequently have associated financial impacts. In order to mitigate this risk, the organisation should consider and implement the recommendations outlined in this report.
References
Beer, T & Foran, B 2000, ‘Management for the Future: Risk Management, Future Options and Scenario Analysis’, in Risk Management and the Future, Beer, T (ed), Australian Minerals & Energy Environment Foundation, Melbourne, Aust.
Hillson, D & Murray-Webster, R 2007, Understanding and Managing Risk Attitude, 2nd Edition, Gower, England.
Hubbard, DW 2009, The Failure of Risk Management: Why It’s Broken and How to Fix It, John Wiley & Sons, NJ.
Swinburne University 2014, Learning Objective 1-5: Sources and management of risk, Swinburne University of Technology, viewed 22 October 2014
STUDENT NAMES:
IDS:
Adele Ewing
100317737
UNIT CODE * NAME
2014-OU3-BUS-60002 Sustainable Business Practices in a Dynamic Global Environment
ASSESSMENT TITLE
Assessment 2-Individual Report
TUTOR’S NAME:
Terry Landells
DATE OF SUBMISSION:
27 Oct 14
DECLARATION
We declare that ( the first four boxes must be completed for the assignment to be accepted): x This assignment does not contain any material that has previously been submitted for assessment at this or any other university. x This is an original piece of work and no part has been completed by any other student than those signed below. x We have read and understood the avoiding plagiarism guidelines at http://www.swinburne.edu.au/ltas/plagiarism/students.htm …show more content…
In accordance with Hillson and Murray Webster (2007), whose work determined a number of techniques for identifying risk, an effective way of identifying the risk presented to NCI in this case would be through the use of checklists, workshops and audits. These measures would enable employees of NCI to identity what potential and current clients could pose an ethical risk.
Following the identification of a risk, the assessment of it should naturally follow. While there are many flaws in the various ways risk is assessed, largely due to the issue of perception, there remain both qualitative and quantitative methods of measuring risk. Methods of risk assessment identified by Hubbard (2009, p.24-27) include expert intuition, expert audit, simple stratification methods, weighted scores and probabilistic models, all of which are recommended in the assessment of risk at …show more content…
Conclusion
To conclude, National Credit Insurance Brokers need to further develop their current sustainable business operations through a more effective stakeholder engagement as a way of mitigating risk. The ethical risk identified has the potential to threaten the NCI brand and consequently have associated financial impacts. In order to mitigate this risk, the organisation should consider and implement the recommendations outlined in this report.
References
Beer, T & Foran, B 2000, ‘Management for the Future: Risk Management, Future Options and Scenario Analysis’, in Risk Management and the Future, Beer, T (ed), Australian Minerals & Energy Environment Foundation, Melbourne, Aust.
Hillson, D & Murray-Webster, R 2007, Understanding and Managing Risk Attitude, 2nd Edition, Gower, England.
Hubbard, DW 2009, The Failure of Risk Management: Why It’s Broken and How to Fix It, John Wiley & Sons, NJ.
Swinburne University 2014, Learning Objective 1-5: Sources and management of risk, Swinburne University of Technology, viewed 22 October 2014