Enterprise Risk Management

1504 WordsJul 19, 20117 Pages
Enterprise Risk Management The Non-Linear Pro salesman told the manager of Quick Takes Video that the editing system leased would allow the employees to edit material twice as fast after only a day and a half of set up and training. After all employees received the one-day training course, completed the video tutorial, and read the manual, problems with the equipment stopped production of a Quick Takes Video project. During an attempt to insert a CD, an employee cut her finger on a sharp edge of the poorly designed equipment. Two different types of torts arose in the Product Liability Video. One type, an intentional tort occurred as a result of the implied warrantee when the salesman described the benefits of the editing system.…show more content…
An effective compliance oversight team has several tasks in an organization like looking over contracts to ensure said contracts meet all legal guidelines. The team also investigates future and present clients of the business and turns in written reports of the team’s findings. The team also gives its company a risk analysis of its endeavors reporting to management in writing. An effective compliance oversight team is an immeasurable asset to any company. The purpose of the team is to minimize the financial, name or brand, organizational, and safety risks. A company is dependent upon maximizing profits and building name recognition, without an effective compliance oversight team this would not be possible. Effective Training and Education for Roles and Responsibilities Ensuring the proper and effective training for jobs the employees do remains a function of management. A subject matter expert should provide the training to ensure smooth, safe, and effective standards of performance. An effective training and education program within a company allows the business to flourish. Proper training and ensuring the employees had the necessary resources prior to putting the new equipment in the production environment may have prevented the situation from becoming unproductive. Effective and Efficient Framework A company requires both formal and informal mechanisms to coordinate the risk

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