Review of ERM Basics: Types of Risk, Key Risk Indicators, and Risk Treatment

The safety aspect for risk management will evaluate the potential for human loss of life and or injury. The potential for major incident or accident, such as fire, explosion, or spill, including environmental damage. The necessity for security within the company is a highly need aspect of safety that can lead to risk. The revenues aspect for risk management will evaluate the loss of customer base, recovering of capital loss and recognizing uncoverable capital loss, and loss of opportunity in marketing of the product. The necessity for revenue risk management is key. The costs aspect for risk management will evaluate the costs that were incurred due to preventable problems. Also, costs due to increased warehouse space, vendor changes, and discount changes. A significant risk in cost for this company is the cost of legal defense. The legal aspect for risk management will evaluate regulatory compliance failures and actions that could result

The purpose of a risk assessment (RA) is to identify the entire organization’s risks and quantify the

In my past job, the company mandates risk assessment before doing for any business transactions, so that we are in compliant with relevant regulations and do not do any risky deals that end up with litigation or incur losses to our business. The guidelines also apply for non-business transactions and any internal decisions. The strategy is to take a risk that is known and manageable or spread, so that we add value to the company's profit and shareholders. The task was to scale the current information system, so that we can comply with regulatory requirement which always has time commitment.

How do you report an unconfirmed diagnosis? Provide an example of when additional diagnoses might be needed? Why do you think a coder needs to know this?

At the end all the risk are finance related, because the liability’s cost money and this will have an effect in the company’s earnings, so what is important is not only to try to avoid such events but also to be prepare in case they happen and have a plan, is like the saying “Hope for the best but be prepare for the worst”.

Within business, there will always be operational risks to consider. "Operating risk is the basic

Identify the potential risks which affect the company and manage these risks within its risk appetite;

The key risks that the company faces are economic conditions, competition, key employees, suppliers, availability of credit, financial risks, business continuity, revenue dependence, cost saving, leased property portfolio, as well as, some other minor risks. The amount of risks faced by the company is high, and the realization of those risks is a good possibility in light of the performance of the company.

Risk is defined as the probability that a company will become insolvent and will not be able to meet its obligations when they become due for payment. The profitability versus

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,

However, two known authors in this field of study believe that companies with low business risk obtains factors of production at a lower cost which may also pave to the ability of the firm to operate more efficiently (Amit & Wernerfet, 1990). Therefore, many stockholders faced a high of uncertainty; this is because some companies do not have the financial strengths to cover its debts that even may result to bankruptcy.

Because of rapid economic growth in XXX over the past years has increased the fear of major business failure, risk has become an overwhelmingly dominant business topic. As a result, top managers are now focusing on risk management in their companies. As each business entity struggles with its own set of needs and circumstances, the need and flexibility to address this continuously changing and volatile economic environment, would be extremely challenging and fulfilling to me.

Potential key risks have been identified in the earlier sections of this project as this is task three of assessment number one. There are four risks that the board have particularly picked according to the level of risk and its likelihood that could affect the company. These risks include the following:

Financial risk for the hotel includes money such as the capital availability, the cash-flow management, the investment evaluation and the credit default.