ACCT5919 Business Risk Management: Developing A Manual

Question:

You are an employee of a company. The Management Team of your company is developing a manual, for internal use, the purpose of which is to train staff in areas of risk management, so that your company staff can learn to avoid similar failures in risk management procedures. Management are aware that you have recently completed a course in business risk management, and have asked you to prepare a case study report for inclusion in the manual covering one of the following seven cases or another case of your choice:

Company                                            The Risk Event 

Fukushima Daiichi                                           – Nuclear plant disaster

BP                                                                    – Oil Spill in the Gulf of Mexico

Boeing                                                            – Boeing 737 Max aircraft

Commonwealth Bank of Australia (CBA)        – Failures in corporate governance

Volkswagen                                                     Engine emissions scandal

Samsung                                                       – Samsung Galaxy Note 7 recall

Sanlu Group                                                – Melamine-tainted milk scandal

The Project

Management has agreed the following specific tasks after discussions with you:

  1. Research the facts of the case. The facts and material for the analysis should be drawn from primary sources such as company and regulator reports wherever possible, and then secondary sources such as press and other reports or published articles by third parties and experts commenting on or analysing the incident. Sources should be fully
  2. You are required to identify at least two, and at most three, risk management issues illustrated by the case. Compare and contrast the way in which these issues were dealt with by the company with material presented in your course or other reference material dealing with the concepts or issues that the case illustrates. In your reportyou may also assess the effectiveness with which the crisis, created as a result of the failures in risk management, was managed. The analysis of crisis management is in addition to the coverage of the two to three risk management issues.
  3. Management believes that the quality of this material will not be judged on the number of concepts or issues illustrated by a particular case study but on how well each concept or issue is illustrated and analysed. Therefore, greater depth in the assessment ofthe underlying risk management issues (and crisis management). Likewise, the lessons and recommendations need to be specific and relevant to your company.to be of use to your company’s staff

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