UNDERSTAND HOW TO USE THE STRATEGIC RISK ASSESSMENT PROCESS TO ASSESS AND MANAGE STRATEGIC RISKS

Read the two PDFs then answer 5 Questions (in “Question” document), please note 4 and 5 questions required to pick a company. (I have picked one in bracket shown in the document)

Question 1: Situation: Assume you are presenting (as a consultant) the concept of seven step Strategic Risk Assessment Process to the executive team at a company that is considering implementing it. The pre-reads for the session included 1.Strategic Risk Assessment Frameworks: A Guidebook for Management Teams and 2.Creating and Protecting Value: Understanding and Implementing ERM Anderson and Frigo (COSO 2020), The CEO asks the following question: Why is it so important to start with “Understand the Strategies of the Organization” in the Strategic Risk Assessment Process? In one short paragraph, please describe how you would reply to this question.

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Question 2: Situation: Assume you are presenting (as a consultant) the concept of seven step Strategic Risk Assessment Process to the executive team at a company that is considering implementing it. The pre-reads for the session included 1.Strategic Risk Assessment Frameworks: A Guidebook for Management Teams, and 2.Creating and Protecting Value: Understanding and Implementing ERM Anderson and Frigo (COSO 2020), The Chief Human Resource Officer (CHRO) asks the following question: How does the Return Driven Strategy tenet “Engage Employees and Others” relate to “Employee Engagement Risk” in the Strategic Risk Management model, can you give some examples? In one short paragraph, please describe how you would reply to this question.

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Question 3: Situation: Assume you are presenting (as a consultant) the concept of seven step Strategic Risk Assessment Process to the executive team at a company that is considering implementing it. The pre-reads for the session included 1.Strategic Risk Assessment Frameworks: A Guidebook for Management Teams, and 2.Creating and Protecting Value: Understanding and Implementing ERM Anderson and Frigo (COSO 2020), The Chief Operating Officer (COO) asks the following question: How does the Return Driven Strategy tenet “Partner Deliberately” relate to “Partnering Risk” in the Strategic Risk Management model, can you give some examples? In one short paragraph, please describe how you would reply to this question.

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Question 4: For one of the following companies (UPS, Microsoft, Coca-Cola, McDonalds, Harley-Davidson, Southwest Airlines, Abbott, Marriott International),(choose Coca-Cola!),applying the Strategic Risk Management model, please describe in one short paragraph the top strategic risks faced by the company due to the 2020 pandemic in terms of value chain risk, employee engagement risk and customer risk .

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Question 5: For one of the following companies (UPS, Microsoft, Coca-Cola, McDonalds, Harley-Davidson, Southwest Airlines, Abbott, Marriott International),(choose Coca-Cola!),applying the Strategic Risk Management model, please describe in one short paragraph the top strategic risks faced by the company due to potential cybersecurity breaches in terms of customer risk, partnering risk, employee engagement risk and brand-reputation risk.

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