Case Analysis : Flayton Electronics

Enterprise Risk Management (ERM) is a series of processes used to identify risk, implement strategies to address risk, and monitor impact on the organization. Indeed, an effective ERM will consist of a corporate profile, which is a record of key risks that would hinder the organization in achieving their key objectives (Fraser & Simkins, 2010). Ideally, the risk profile is created as a tool to communicate with the Board of Directors, but may be used as a means of communication with all levels of management (Bethel, 2016). Typically, there are variations of the risk profile based upon the level of management, such as duration, types of risk, and purpose (Fraser & Simkins, 2010).

In 1975 Pioneer maintained relationships with approximately 3,500 franchise retail outlets, the retail outlets benefited from a 5% Pioneer investment in local advertising, and attractive gross margins and credit terms. However, that same year, Pioneer and three competitors were forced to sign consent decrees with the U.S. Federal Trade Commission promising not to engage in alleged anti-fair competition practices – namely requiring distributors to use suggested list prices and punishing those distributors who didn’t comply either through delayed shipments or revoked franchises. A market price war followed the signing of the consent decrees, lowering franchise’s profits while increasing revenue for Pioneer. Pioneer followed

The purpose of this paper is to explore and assess computer security as it relates to Aircraft Solutions. Aircraft Solutions provides products and services to a range of companies that require highly specialized skills. Information is accessed by internal and external users via their Business

Risk assessment and threat assessment should go hand-in-hand.The outcome of the risk assessment and threat assessment should provide recommendations that maximize the protection of confidentiality, integrity and availability while still providing functionality and usability. The purpose of a risk assessment is to ensure sensitive data and valuable assets are protected. An organization should take a hard look at who has access to sensitive data and if those accesses are required. The security audit should monitor the companies systems and users to detect illicit activity.The security audit should

Information technology can be very costly, and it is imperative for organizations not to overspend when it comes to their IT budget. However, it is vital for organizations to understand the risks associated with information technology. As we saw in the TJX case, TJX’s senior management did not update their systems and had very little IT knowledge. This led to multiple risks involving several security breaches which could have been contained by improving their information systems more efficiently. It is not just developing and implementing information technology; it is also understanding risks and formulating solutions to issues associated with IT. In Adventures of an IT Leader, Barton faced many challenges when it came to the budget of IVK. He assumed full responsibility for all the risks associated with the technology used and the IT budget. When the power shut off at IVK, Barton was faced with many challenges including possible customer records compromised, IVK’s systems infected, and deciphering solutions to secure the system. Barton suggested that IVK shut down operations to build a new and secure system to ensure IVK’s systems could identify where the infection originated and repairing the system for future

Risk refers to a likelihood, probability, a chance that a loss may occur in a given organization. Most of the times, there is a high risk when there is vulnerability. In this case, vulnerability refers to a weakness that the organization has. Risk assessment refers to the process of identification of potential hazards and proper analysis of the expected losses if those hazards occur (Homeland Security, n.d.). Risk assessment as a way of profiling risk according to impact to the organization. Some organizations have business impact analysis exercises geared towards determination of potential hazards based risk assessment approaches. Organizations’ risk differ depending on the size and the type of business they are doing. The disparity in organizations’ risk call for different adaptation of risk assessment approaches. Even with the disparities of the businesses, proper risk management not only ranks the risks according to the seriousness but also identifies the best methods to control risks in an organization.

Former president and chief executive officer of the online auction site eBay stated, “A business leader has to keep their organization focused on the mission. That sounds easy, but it can be tremendously challenging in today 's competitive and ever-changing business environment. A leader also has to motivate potential partners to join” (Whitman, n.d.). These wise words expressed from a wise and highly successful business leader speak soundly in relation to motivating employees and a sustaining a competitive business advantage. Along with a competitive advantage arises the need to assess the firm’s internal risk. Departmental strengths and weaknesses,

Risk analysis is an integral part of data safety within an organization and the analysis is vital to the mission and success of an organization. Risk analysis is used “to identify threats and then provide recommendations to address these threats” (Taylor et al, 2006). Risk analysis encompasses not only the equipment and programs used in an organization but also covers the culture, managerial, and administrative processes to assure data security. A key factor in risk analysis is to have a good Information Resource Management Plan.

The data breach that Flayton Electronics experienced may have stemmed from several loopholes cited in the case. It may have been caused by someone hacking into the stores card reader system or from the fact that customer’s credit card information was being stored on the company’s computers and showing up on reports when this should not have happened. In order to mitigate these situations, the Security Director at

Background- In its most basic sense, risk management identifies, allows assessment, and prioritizes risks that are associated and central to an individual project or organization. Risk management allows the organization to be proactive in preventing or mitigating risks, for improving certain processes within the organization, and with the hope of preventing fiscal exposure. However, in almost every organization there are risks individuals are unique and do not always perform at a high level of safety; mechanical or design failures exist, construction projects have supply or labor issues, there are uncertainties in computer or data modification, of course natural disasters, and even deliberate attacks from competitors, etc. Because this is such a common occurrence, national and even international standards have been developed in conjunction with the insurance and regulatory institutions to at least provide basic guidelines to minimize risks risk (International Organization for Standardization, 2009).

Risks are probabilities that could render a business to have lower than anticipated profits. This could be due to various and numerous factors. The identification, acknowledgement and acceptance of these risks are fundamental to every business, Coffeeville in particular. This report will outline CoffeeVille’s exisiting Risk Management Policy. It will also determine its effectiveness with regards to risk identification, management and control.

Collier (2009) claims that the fundamental role of the Board of the directors in a company is to apply risk management and to review the performance of the organisations’ internal control procedures; these two principal processes will support the Board in the setting of the strategic targets, the transformation of the targets into real products and services, the effective business overseeing, and the realistic reporting to the external stakeholders. Apart from the Board, the author suggests that an effective risk management framework must be facilitated by a risk management group, a chief risk officer, external and internal audits, and a mature organisational culture disseminated to the line managers and employees. Under the same concept, Hampton (2009) presented a flow gram that suggests the path towards the establishment of enterprise risk management, starting from the risk recognition and ending to the standardization of a risk evaluation process, having prior involved the Board, the risk owners and the accountable staff.

Hartley Electronics Ltd is a well-established company that has been trading since 1977. It has a good technical, financial and marketing section, but its human resources have been neglected, which has led to some problems within the company.

Monitoring and control activities are essential components to effective project management (Chrissis, Konrad, & Shrum, 2011; PMI, 2013). The main purpose of monitoring and control activities are to having an understanding of project progress/performance against the agreed upon plan, identify potential risks, provide accurate forecasts, and to ensure corrective actions are taken when necessary (Chrissis et al., 2011; PMI, 2013). Successful cost and schedule control involves much more than merely monitoring project progress and costs, it involves thorough analysis of the data (Kerzner, 2013, p. 738). One of the most effective tools for performance measurement, monitoring, and control is earned value management (EVM); a powerful technique which employs quantitative data to objectively monitor and control project progress (De Marco & Narbaev, 2013).

1) Merton Electronics is subject to transaction exposure. Transaction exposure is the gains or losses realized from the settlement of specific transactions that are denominated in a foreign currency. There are two main types of transaction exposure: 1) Purchasing or selling on credit goods denominated in a foreign currency 2) Borrowing or lending funds when repayments is going to be made in foreign currency. In respects to Merton’s Yen payments they are subject to transaction exposure. Merton imports a majority of its products from Japan. This results in payments due to suppliers that are denominated in Yen. Merton has locked in outstanding transactions with Fuji and Goldstone that would be