Risk Management Plan Project
2. Prepare: Read the following Executive Summary by Ernst and Young Business Pulse 2013
The Ernst and Young report identifies the top risks and opportunities for executives to consider for their strategic plans. This report discusses many
influences on business practices, such as society, culture, politics, health, safety and security.
https://web(dot)archive(dot)org/web/20171112012920/http://www(dot)ey(dot)com/Publication/vwLUAssets/Business_Pulse_-
_top_10_risks_and_opportunities/$FILE/Business%20pulse%202013.pdf
3. Executive Summary Project Phase I: Imagine your company is planning and strategizing for the future and that you have been asked by the executive
team to brief them on the state of the risks and opportunities in the industry. Prepare a 2- to 3-page analysis of the Executive Summary by Ernst and
Young Business Pulse 2013, along with a review of the Modules 1-5, your textbook, and other research. Your analysis will help the top executives create a
comprehensive strategic plan that includes risks and opportunities that could impact employees and other stakeholders. Make sure your paper clearly
addresses the following questions:
Risk management plan: Phase I
Name
OL 645: Risk Management Plan Project
Southern New Hampshire University
Date
Among the top risks are pricing pressure, profit pressure, and market risks. These financial risks are a concern as the finances are likely to worsen, and the costs escalate (Ernst & Young, 2013). This is further complicated when there are price volatilities that affect investments. Macroeconomic risks affect companies, industries, and the economic outlook. Uncertainty linked to political risks poses a challenge to businesses, especially those operating in the international market where policy decisions affect the ease of doing business. Organizations need to comply with environmental health and safety standards, and there are different regulatory standards that companies comply with. Regulations and compliance depend on standards, and laws, and the regulators respond to the risk, including adopting and changing rules.
There are opportunities because of rising market demand, investment in innovation, and improved productivity. Expanded markets are partly linked to the economy improving where there are growth opportunities (Ernst & Young, 2013). A long-term positive outlook for firms and industries will drive demand. Additionally, leveraging new marketing channels and improving the supply chain network performance. Improved opportunities companies will be better placed to integrate effective risk management strategies. Improved efficiency and cost competitiveness combined with maximizing market opportunity enhance business viability, but the managers need to adopt effective business strategies to achieve long-term competitiveness.
The political situation and economic factors influence the risk and opportunities for the firms and industries as companies are more likely to thrive in a democratic and politically stable environment. When there is the ease of doing business, there is a tendency for growth. Furth...