Essays on Risk Management and Its Importance in Corporate Governance Coursework

Download full paperFile format: .doc, available for editing

The paper "Risk Management and Its Importance in Corporate Governance " is a great example of management coursework.   Risks entail activities and processes whose occurrence changes the possibility of something happening according to the existing plan hence affecting the realization of the objectives. This means that risks entail all the possible effects of uncertainty in relation to the realization of organizational objectives (Doherty 2010, p. 14). For companies to experience any form of progress in matters related to growth, development and the realization of goals and objectives, it is the responsibility of the management through corporate boards to develop a set of principles.

These principles help to reduce the risks to the company in terms of any possibility of criminal liability, damages of reputation arising from fraud and other corrupt activities. In the context of an organization, therefore, the managers in charge of risk management must always consider the possibility of a risk occurring and apply risk management strategy options to ensure the elimination of the modification of the risk for the benefit of the company (Gong 2013, p. 213). The main objective of this study is to assess the relevance of risk management strategy in terms of improving the reputation and performance of a company in relation to the procurement department.

This will involve a critical analysis is of the risk management strategy developed by Mattel Company. Risk management and its importance in corporate governance Risk management in the context of an organization entails the process of mitigating or minimizing risks. The success of this process is highly dependent on the ability of an organization to understand its mandate and identify the possible risks that may arise in the process of executing is responsibilities in accordance with the governing principles (Doherty 2010, p.

14). Through effective identification and evaluation of the probable risks, an organization has the responsibility of developing a strategy in terms of the resources and the time that will be used in monitoring and minimizing the risks. In most cases risks result from uncertainties in the market especially with regard to demand, supply and the stock market.


Broder, James & Tucker, Gene. 2011. Risk Analysis and Security Survey. Burlington : Elsevier


Doherty, Neil A. 2010. Integrated risk management techniques and strategies for managing

corporate risk. New York, N.Y.: McGraw-Hill.

Finacial Reporting Council (FRC). 2014. Guidance on Risk Management, Internal Control and

Related Financial and Business Reporting. London Wall: London EC2Y 5AS

Gong, Yeming. 2013. Global operations strategy fundamentals and practice. Berlin: Springer,

pp. 211-213

Iverson, David. 2013. Strategic risk management a practical guide to portfolio risk management.

Singapore: Wiley.

Knight, Kevin W. 2009. Comcover Insurance and Risk Management Conference. Transitioning

to the new risk management standard AS/NZS/ISO 31000:2009. Canberra: Comcover, Department of Finance and Deregulation.

Lee, Hau Leung, and Lee, Chung-Yee. 2007. Building supply chain excellence in emerging

economies. New York: Springer, pp.112-120

Mathghamhna, S.N. 2011. Performance and Risk Management: Risk and Reward, Waters

magazine, 03 October. URL: managementrisk-reward/.

Mattel Company Inc. 2009, Playing Responsibility. Celery Design Collaborative: California.

Reuvid, Jonathan. 2011. Business insights: China : practical advice on operational strategy and

risk management. London: Kogan Page.

Sadgrove, Kit. 2005. The complete guide to business risk management. Aldershot, Hants,

England: Ashgate Pub, pp.326-328.

Turner, Robert W. 2011. Supply management and procurement: from the basics to best-in-class.

Fort Lauderdale, FL: J. Ross Pub.

Download full paperFile format: .doc, available for editing
Contact Us