Importance of Effective Risk Management – Importance of Legislative Framework – Management Assignment Help

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Assignment Task :

Unit Aims 

The aim of this unit is to develop learners’ understanding of legislative frameworks that  contributed to design on risk assessment plans in organisations and learn the basics of ISO  standards. ISO is a universally recognised international standard that provides principles and  guidelines on risk management. These standards provide principles, a framework, and a  process for managing risk that can be used by any organisation. The learners will become  aware of the principles of the ISO standards. 

 

Learning Outcomes –  the learner will:

Assessment Criteria –  the learner can:

1. Understand risk  

management principles.

1.1 Define risk in an organisational context. 

1.2 Explain risk management in an organisational context.

1.3 Evaluate three stage risk management process in an  organisational context. 

1.4 Assess the importance of effective risk management.

1.5 Critically evaluate five basic methods for risk  management

2. Understand key legislation  frameworks that influence  risk management decision  making in an organisation.

2.1 Describe five legislative factors that influence health  and safety risk assessment considerations. 

2.2 Analyse the influence of relevant legislation, legal  factors and regulatory bodies on health and safety in  an organisation of your choice. 

2.3 Evaluate the importance of legislative framework on risk management in your chosen organisation.

3. Evaluate the scope and  implications of risk   management standards.

3.1 Critically evaluate the scope of relevant ISO standards  in your chosen organisation. 

3.2 Assess the focal points of ISO standards 

‘harmonisation’ programmes and its impact on your  chosen organisation. 

3.3 Examine the application of ISO standards in managing  risks in an organisation.

Scenario: 

You are employed as a Trainee Operations Manager in a Private Health Care Clinic in  London. The company provides health care services to a growing list of private clients. The  clinic is planning to open a new branch in Birmingham. The Managing Director has asked  you to lead a small team from the office and involve consultants to plan and execute this  new branch opening.

 

Task 1 of 1: Management Report 

The Managing Director has asked you to prepare a report which should reassure the senior  management team your capability in dealing with the venture. 

Instructions: 

The following requirements need to be addressed when preparing the report: Section A (ACs 1.1, 1.2, 1.3, 1.4, 1.5) 

• Define risk in the organisation’s context. 

• Explain risk management in the organisation’s context. 

• Evaluate three stage risk management process. You should connect it to your  organisation’s context. 

• Assess the importance of effective risk management in the organisation’s context. 

• Critically evaluate five basic methods for risk management that you believe will be  helpful in your organisation’s context. 

Section B (ACs 2.1, 2.2, 2.3) 

• Describe five legislative factors that influence health and safety risk assessment  considerations. 

• Analyse the influence of relevant legislation, legal factors and regulatory bodies on  health and safety in the organisation. 

• Evaluate the importance of legislative framework on risk management in the  organisation. 

Section C (ACs 3.1, 3.2, 3.3, 3.4, 3.5, 3.6) 

• Critically evaluate the scope of relevant ISO standards on the organisation.

• Assess the focal points of ISO standards ‘harmonisation’ programmes and its impact  on the organisation. 

• Examine the application of ISO standards in managing risks in the organisation. 

 

Unit Aims 

The critical examination of strategic in relation to the setting and continuous improvement of  performance standards; the establishment and maintenance of an effective system of risk  management; all aspects of risk management are considered including, but not limited to,  health and safety, environmental and security; planning and alignment of risk objectives with  other corporate strategy. 

Learning Outcomes – 

Assessment Criteria – 

 

1. Understand the concept of  strategy risk and various types  of strategy risk.

1.1 Define strategy risk in an organisational context. 1.2 Identify major strategy risks facing an   organisation. 

1.3 Evaluate the impact of strategy risks on a  business.

2. Be able to review an   organisation’s strategy and risk  plans.

2.1 Explain the importance of review in the  development of organisational strategy and risk  plans. 

2.2 Evaluate the tools which can be used to review  organisational strategy and risk plans. 

2.3 Analyse the competitive strengths and  weaknesses of an organisation’s current   business strategy and business plans. 

2.4 Review the position of an organisation in its  current market using appropriate tools.

3. Understand the role of   Corporate Social Responsibility and ethics in risk management systems.

3.1 Analyse the STEP framework on risk   management. 

3.2 Assess contemporary issues that contribute to CSR risk management systems. 

3.3 Evaluate the implications for a business and its  stakeholders when they do not operate ethically.

4. Understand the development,  implementation and role of   Business Continuity Planning  with regard to corporate  strategy.

4.1 Evaluate the vulnerability of organisations to  breaks in continuity. 

4.2 Critically analyse the importance of conducting a Business impact analysis (BIA). 

4.3 Assess approaches to crisis management and  business continuity planning with regard to  corporate strategy.

Scenario: 

Astrabiotics a newly established pharmaceutical company, has approached an UK based prominent consultancy firm PWX to assist in managing the challenges the organisation faces  in the next five years due to changes in the political, social and economic factors in the UK. 

You work as a Senior Analyst in the firm. Your line manager has allocated this firm to your  workload and asked you to produce a detailed report that should resolve Astrabiotics  queries. 

Task 1 of 1: Management Report 

The Director of Operations has asked you to create a management report for the senior  management team of Astrabiotics covering their areas of interest.

 

Instructions: 

The following requirements need to be addressed when preparing the report: 

Section A  

• Define strategy risk. 

• Identify major strategy risks facing your organisation. 

• Evaluate the impact of strategy risks in the organisation. 

Section B  

• Explain the importance of review in the development of organisational strategy and  risk plans. 

• Evaluate the tools which can be used to review organisational strategy and risk  plans. 

• Analyse the competitive strengths and weaknesses of your organisation’s current  business strategy and business plans. 

• Review the position of your organisation in its current market using appropriate tools. Section C (ACs 3.1, 3.2, 3.3) 

• Analyse the STEP framework on risk management for the organisation. • Assess contemporary issues that contribute to CSR risk management systems in the  organisation. 

• Evaluate the implications for a business and its stakeholders when they do not  operate ethically. 

 

 

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