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Unit Aims
The critical examination of strategic in relation to the setting and continuous improvement of performance standards; the establishment and maintenance of an effective system of risk management; all aspects of risk management are considered including, but not limited to, health and safety, environmental and security; planning and alignment of risk objectives with other corporate strategy.
Learning Outcomes – the learner will: | Assessment Criteria – the learner can: |
1. Understand the concept of strategy risk and various types of strategy risk. | 1.1 Define strategy risk in an organisational context.
1.2 Identify major strategy risks facing an organisation. 1.3 Evaluate the impact of strategy risks on a business. |
2. Be able to review an organisation’s strategy and risk plans. | 2.1 Explain the importance of review in the development of organisational strategy and risk plans.
2.2 Evaluate the tools which can be used to review organisational strategy and risk plans. 2.3 Analyse the competitive strengths and weaknesses of an organisation’s current business strategy and business plans. 2.4 Review the position of an organisation in its current market using appropriate tools. |
3. Understand the role of Corporate Social Responsibility and ethics in risk management systems. | 3.1 Analyse the STEP framework on risk management.
3.2 Assess contemporary issues that contribute to CSR risk management systems. 3.3 Evaluate the implications for a business and its stakeholders when they do not operate ethically. |
4. Understand the development,
implementation and role of Business Continuity Planning with regard to corporate strategy. |
4.1 Evaluate the vulnerability of organisations to
breaks in continuity. 4.2 Critically analyse the importance of conducting a Business impact analysis (BIA). 4.3 Assess approaches to crisis management and business continuity planning with regard to corporate strategy. |
Scenario:
The NeuroPace is a USA based and the only FDA-approved electrocetical company that manufactures epilepsy device that delivers personalized treatment by responding to abnormal brain activity. The company want to expand into the UK market. The NeuroPace has approached an UK based prominent consultancy firm Consultants4U to assist in managing the challenges the organisation faces in the next five years due to changes in the political, social and economic factors in the UK. You work as a Senior Analyst at Consutants4U. Your line manager has allocated The NeuroPace’s consultancy to your workload and asked you to produce a detailed report that should resolve the NeuroPace’s queries.
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Task 1 of 1: Management Report
The Director of Operations has asked you to create a management report for the senior management team of the NeuroPace covering their areas of interest.
To develop your Management Report, you must apply relevant theoretical concepts, models and Strategic Risk Management, relate them with real world examples of given organisational context and critically analyse your arguments and arrive at justifiable recommendations
Instructions:
The following requirements need to be addressed when preparing the report:
Section A (ACs 1.1, 1.2, 1.3)
- Define strategy risk.
- Identify major strategy risks facing your organisation.
- Evaluate the impact of strategy risks in the organisation.
Section B (ACs 2.1, 2.2, 2.3, 2.4)
- Explain the importance of review in the development of organisational strategy and risk plans.
- Evaluate the tools which can be used to review organisational strategy and risk plans.
- Analyse the competitive strengths and weaknesses of your organisation’s current business strategy and business plans.
- Review the position of your organisation in its current market using appropriate tools.
Section C (ACs 3.1, 3.2, 3.3)
- Analyse the STEP framework on risk management for the organisation.
- Assess contemporary issues that contribute to CSR risk management systems in the organisation.
- Evaluate the implications for a business and its stakeholders when they do not operate ethically.
Section D (ACs 4.1, 4.2, 4.3)
- Evaluate the vulnerability of organisations to breaks in continuity.
- Critically analyse the importance of conducting a Business impact analysis (BIA).
- Assess approaches to crisis management and business continuity planning with regard to corporate strategy.