TransGlobal Airlines Risk Assessment
Overview
When performing an evaluation to determine the performance or health of a company, it is important to identify and evaluate any current or potential risks the company might face.
In this assignment, you will perform a risk assessment for TransGlobal Airlines to better understand its business environment.
Prompt
Perform a risk assessment for TransGlobal Airlines and write a report describing the results.
Specifically, you must address the following rubric criteria:
Identification: Identify two risks the company is facing, including at least one high-impact risk.
Identify the balanced scorecard component each risk corresponds to.
Classify the risk based on these two types:
Operational
Strategic
Evaluation: Determine whether the probability and impact of each identified risk is low, medium, or high. Justify your evaluation of the impact and probability of each risk.
Mitigation: Recommend a possible risk-prevention or mitigation strategy for each identified risk.
TransGlobal Airlines Risk Assessment
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TransGlobal Airlines Risk Assessment
TransGlobal Airlines is a worldwide corporation that operates passenger airplanes. TransGlobal provides various services to satisfy the demands and desires of its customers, particularly those that fall into the luxury, first-class, business, economy, and limited discount categories. The airline industry is highly competitive, with high ticket prices, tougher international rules, and operating expenses that are roughly on pace with those of all other passenger transportation sectors. Risk assessments help companies like TransGlobal gain insight into how a business functions and detect any risks or vulnerabilities that may arise within or around the organization (Tjoa et al., 2020). The study will identify operational and strategic risks to a business that the firm is now facing, evaluate the probability and impact of the risk(s) found, and then offer some solutions to mitigate these risks' impact on the business.
When evaluating a company's performance or overall health, it is critical to identify and evaluate any current or potential risks the company may face. Operational and strategic risk can be separated. Even if TransGlobal Airlines is a multimillion-dollar success, failure is a necessary element of success. TransGlobal Airlines is buying one of the two smaller companies we previously examined, but we must first discuss the concerns.
Workforce inequality and fostering a culture of inclusion are the main operational risks that have a significant impact and must be managed. Operational risk is the potential for financial loss due to internal policies, employees, organizational structures, or outside variables that might adversely affect regular corporate operations (Girling, 2021). The risk is directly related to the balanced scorecard's internal operations component. Inequalities among employees will increase turnover rates, reducing client satisfaction. It is viewed as having considerable risk due to...