Example of a Risk and Opportunity Action PlanRISKS/OPPORTUNITIES & ACTION PLANProcess Instruction Process Owner: College of Business Date Prepared: January 28, 2021Interested Parties-Needs andExpectationsAccreditation, regulatory and certifying bodies:Documentary requirements for Certifying,Accrediting and other regulatory bodiesStudents: Employability of graduatesFaculty: Continuing professional development offacultyPartner industries: Host Training Institutions forStudent InternshipPlannedResult(a)First timeCPALicensureexam-takersRisks that canadverselyaffect(b)Identifiedresponsibleunit will notqualify forPBB;passingrate isabove thenationallevelling andpassing accreditationaverage.Results affectSUCsurveyratingsPossibleNon-Compliant(NC) for IQAand ExternalAuditsOpportunitiesthat canbeneficiallyaffect(c)Attract betterqualifiedstudents tothe programEtc.High turn-over rate of faculty (BSA)Promotional activities by other schoolsActions to address Risks andOpportunitiesExisting(d)New BSACurriculumand NewCourseSyllabusesAdmission,RetentionandPromotionPoliciesInternal and External IssuesAccountancyLaboratoryAdditional(1)TutorialsMock-BoardsFor additional controls, indicateresponsibile person and target dete ofcompletionResponsiblePersoBSAChairperson& FacultyTarget DateofcompletionWithin twoyears ProcessInterested Parties-Needs and ExpectationsPlannedResultRisks thatcanRISKS/OPPORTUNITIES & ACTION PLANadverselyaffectProcess Owner:Opportunitiesthat canbeneficiallyaffectDate Prepared:Internal and External IssuesActions to address Risksand OpportunitiesExistingAdditionalFor additional controls, indicateresponsible person and target dateof completionResponsiblePersonTarget Dateofcompletion

Meaning:- Risk and opportunity action plans are crucial documents for business , organizations and…

RISKS/OPPORTUNITIES & ACTION PLAN Process Instruction Process Owner: College of Business Date Prepared: January 28, 2021 Interested Parties-Needs and Expectations Accreditation, regulatory and certifying bodies: Documentary requirements for Certifying, Accrediting and other regulatory bodies Students: Employability of graduates Faculty: Continuing professional development of faculty Partner industries: Host Training Institutions for Student Internship Internal and External Issues High turn-over rate of faculty (BSA) • Promotional activities by other schools

RISKS/OPPORTUNITIES & ACTION PLAN Process Instruction Process Owner: College of Business Date Prepared: January 28, 2021 Interested Parties-Needs and Expectations Accreditation, regulatory and certifying bodies: Documentary requirements for Certifying, Accrediting and other regulatory bodies Students: Employability of graduates Faculty: Continuing professional development of faculty Partner industries: Host Training Institutions for Student Internship Internal and External Issues High turn-over rate of faculty (BSA) • Promotional activities by other schools

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.3SD: Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling...

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Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
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6.Differentiate one of these risk assessments that may be affected by psychological, ideological, religious orotherwise subjective factors, which impact rationality of the process.A. Individual risk assessmentB. Systems risk assessmentC. Simple risk assessmentD. All the above 7.All the statements below involve Risk mitigation EXCEPT A. Obtaining insurance against lossB. Developing system standards (policies, procedures, responsibility standards)C. Performing contingent planningD. Identification of project risks 8.Choose the TRUE statements regarding Risk Assessment.I. Identify hazards and risk factors that have the potential to cause harm.II. A source or a situation with a potential for harm in terms of human injury or ill health.III. Possibility of suffering harm or injury.IV. Analyze and evaluate the risk associated with that hazard. A. I, III & IVB. I & IIIC. I & IVD. I, II & IV 9.Identify two correct answers for Hierarchy of ControlI. EliminationII.…
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