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Pages:
4 pages/≈1100 words
Sources:
3
Style:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 19.44
Topic:
MBA 699 (6-2)
Essay Instructions:
MBA 699 Module Six Report Guidelines and Rubric
Overview
In your role as a business development manager involved in preparing an exit strategy for the life science organization, you learned that employee attrition is one of the key risks to the proposed acquisition. In Milestone Two, you analyzed the employee data to evaluate this attrition risk and suggest retention strategies to mitigate it. Later, as you began preparing for the exit, the organization faced another challenge—the possibility of the buyer withdrawing from the sale. To mitigate this risk, you searched and planned for alternative buyers.
Management now wants to be more cautious about such risks. To avoid more unforeseen challenges in the process, the vice president (VP) wants you to identify and assess other current or potential risks the organization may face due to the proposed acquisition and recommend strategies to mitigate them.
In this assignment, you will perform a risk assessment using the fishbone method you learned about in this module.
Prompt
Write a report for the VP with risk assessment and mitigation recommendations for the organization in the scenario and its exit strategy.
Specifically, you must address the following rubric criteria:
Risk Identification: Apply the fishbone method to analyze two other risks or problems the organization is facing. Your response should include the following:
Identify two risks or problems to be resolved and create a fishbone diagram for each. Refer to the fishbone diagram template for help. Insert a screenshot or copy your fishbone diagram to your report.
Identify one main cause and ancillary causes for each risk or problem.
Risk Evaluation:
Evaluate the probability and impact of each identified risk or problem as low, medium, or high.
Justify your evaluation of the impact and probability of each identified risk or problem. Provide rationale with supporting data.
Risk Mitigation: Recommend one way to mitigate each identified risk or problem. Support your response.
What to Submit
Submit a 2- to 4-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style. Consult the Shapiro Library APA Style Guide for more information on citations.
Essay Sample Content Preview:
Risk Assessment Report
Student's Name
Institution Affiliation
Course Name & Code
Instructor's Name
Date
Risk Assessment Report
In formulating an exit strategy for the life science organization, several risks have been highlighted and recognized. This report's main objective is to identify and explore two more risks apart from team member attrition that affect the proposed acquisition. Based on the fishbone method, the two risks will be analyzed, and various mitigation strategies will be recommended to help facilitate smooth changes in the self-science organization.
Risk identification
One of the main risks influencing the organization is the risk of losing potential talent in the workforce. This aspect is caused by several factors, such as minimum chances of career advancement when life science organizations offer few or zero advancement opportunities that will help boost their career opportunities. Another cause is few benefits and low salaries that motivate employees to stay and work in an organization for many years (Al-Suraihi, Samikon, Al-Suraihi & Ibrahim, 2021). Excess work to employees influences their personal lives. For example, working long hours prevents them from spending time with their families. Another cause is a poor work environment that could be more conducive for the employees to work efficiently and effectively. Finally, supervision disputes arise when the top management favors a particular group of workers while the others are not helped (Al-Suraihi, Samikon, Al-Suraihi & Ibrahim, 2021). For this reason, most employees frequently accept offers and job opportunities in other organizations. The fishbone diagram below illustrates this risk and the impact of the above ancillary causes on the loss of potential workforce talents.
The second risk is regulatory compliance challenges. These challenges arise because the adjustments and modifications of the regulatory requirements mainly involve reform and initiative aspects (Cordes, Dudley, & Washington, 2022). On top of that, they formulate harsh rules that make employees feel they are under pressure. For example, the employees do not get to explore other areas of the job since the rules limit them to their current positions. In terms of employment regulations, all institutions should be obligated to follow the rules set to ensure all employees work in conducive environments and get their salaries, as explained during the contract. When the environment and salaries differ from what was stated, the organization goes against the requirements and the regulations that govern the organization (FEI Daily, 2023).
Furthermore, other ancillary causes are a lack of proper documentation and record-keeping channels that keep track of all the organization's records (FEI Daily, 2023). Unexperienced trainers go against compliance policies, which leads to the organization's lack of trained employees since they are not equipped with the maximum knowledge before transitioning to their workspaces. Finally, late responses in making approvals lead ...
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