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Essay Available:
Pages:
12 pages/≈3300 words
Sources:
8 Sources
Style:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
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Topic:

Corporate Risk Management: Outdoor Footprint Company (OFC)

Essay Instructions:

Module Assessment:
Corporate Risk Management (Online) 
Background
Outdoor footprint Company (OFC) is a national retailer that develops the very best outdoor gear from skiing accessories to camping necessities, and beyond. OFC has a chain of retail and wholesale stores across the UK selling outdoor gear to hundreds and thousands of consumers on a daily basis. The covid-19 pandemic increased online retail sales. In addition, online sales in France, Spain, and Germany rose rapidly in recent years. Ms. Flannigan is the risk manager of OFC and as such, her responsibilities include identifying, assessing, and managing any potential risks that may arise. She is charged with controlling any risk that may adversely affect the sales, security, and financial health of the organisation.
There are various measures in place that can protect or reduce the amount of risk that OFC may face. It is common to have mechanisms in place to control this and to have measures in place to reduce the impact on risk and transfer unwanted risks to limit risk exposure. In understanding risk, it is important to know the different types of risk, and how much risk an organisation is willing to take. Ms. Flannigan is aware of this and intends to assess the various types of risks in order to protect the organisation. However, Ms. Flannigan is not entirely sure that it is the most effective and economic way of managing risk.
You are required to critically discuss the following questions.
1. Identify and discuss five potential risks that the company is facing. (30%)
2. According to the five risks you have identified in question one, advise and discuss the appropriate methods that can be used to handle these risks. (30%)
3. Discuss the relevance of risk management philosophy and discuss whether incorporating such a philosophy at OFC would benefit the company in meeting corporate objectives. (30%)
Notes for the assignment
1. The word count is 3000-3600 words in the assignment, excluding contents page, appendices, and references, and the word count should be provided.
2. The assignment will contribute to 90% of the overall assessment mark for the module. Presentation and citations/referencing contribute to 10% of your final mark for this module.
3. Your answer may be in either report or essay style format.
4. The word count excludes contents page, final reference list and appendices (if you have any).
5. Unless you are otherwise directed, you should set in Arial at a 12-point font size and 1.5 line spacing when writing (diagram sources and the reference list that are not applied).
6. You must provide appropriate references in the assignment.
7. The assignment must be submitted through the Turnitin link within the module Moodle. You should submit your assignment in Word not PDF.
8. Late Submission: Coursework submitted after the agreed deadline will be marked at a maximum of 40%. Coursework submitted over five working days after the agreed deadline will be given 0%.

Essay Sample Content Preview:

Corporate Risk Management
Student's Name
Institutional Affiliation
Course Code and Title
Professor's Name
Due Date
Corporate Risk Management
Question 1
Business risks endanger an organization's financial goals due to uncertainties around the external and internal environment, compliance, health and safety, profits, and strategy. Business risks negatively affect a brand's reputation. Nevertheless, risk management processes can help address the risks. Outdoor Footprint Company (OFC) has potential threats that need timely mitigation, including competition, financial, operational, human, and strategic risks.
Competition Risk
The company has a competition risk regarding its online sales in Germany, Spain, and France. A competition risk could occur when competitors take an increasing market share for a service or product (Indeed Editorial Team, 2022a). Companies should continuously improve their services and products to strive in the competitive market. A company's competitors can hinder its success and growth since they compete and target the same distributors and customers (Indeed Editorial Team, 2022b). OFC faces a competitive risk since its products compete with other companies in Spain, France, and Germany. Companies like OFC that rely on e-commerce and other digital platforms experience significant competitive risk because their services and products compete with other e-commerce platforms globally (Indeed Editorial Team, 2022b). For instance, OFC could experience a competition risk since the local producers in France, Germany, and Spain already have a significant market share. Local producers in these foreign countries could take measures that hinder OFC and other similar companies from reaching customers or entering new markets in these countries. Therefore, OFC should develop competitive advantage strategies to join and thrive in the competitive market in France, Spain, and Germany.
Financial Risk
The company also has potential financial risks. These threats could occur due to market losses or changes, affecting the company's financial position (Indeed Editorial Team, 2022a). Online sales in countries like Germany, Spain, or France threaten OFC's financial position due to local producers' market shares and possible exchange rate issues. Furthermore, market risks could affect the OFC's financial position since they cause losses due to market share changes and competition of services and product sales with local producers (Migrator, 2000). For instance, OFC could face financial risks because competitors in foreign countries have local customers, reducing the company's market share. Additionally, the company could experience issues in currency exchange rates while transacting with customers in foreign nations, reducing its profits. Financial risks in organizations could also occur when there is a lack of proper financial planning or debt management (Indeed Editorial Team, 2022a). Organizations could experience financial risks due to currency risks that entail depreciation of currency's value, liquidity risks that involve the inability to convert assets to ready cash, or default risks which involve business loans with higher interest, subjecting the company to default in loan repayment (Indeed Editoria...
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