[BUS 1000 Managing International Business Risk Report Assessment 1: Individual Report (20%) (1500 words +l-10%) Applying the Care Risk and Risk Management Concepn and Theory in International Business ~ Using a two-part report; in Part A: Discuss the importance and role of the knowledge of risk and risk management in international business. ~ Provide 4 relevant real world examples of where and how risk management knowledge is used within the internal company operations of any international business company and industry of your choice ~ In Part B of your report apply Risk Management Framework 1 to your chosen international business company and industry by identifying, ranking, and prioritizing 4 risks that your particular chosen company faces within its external environment. - Brielly outline a strategy to manage the most high impact and highest likelihood risk your chosen company faces. (Risk management framework 1 is Figure 1: 'How to prioritize risk' in 'The boardroom imperative on internal control') Each student needs to submit a report written individually (1500 words + or 7 10%). This assignment has two main purposes. It requires you to: 1. Apply risk and risk management concepts and theory to the activities of a specic organization; and 2. Prepare a formal written report. Assessment Requirements Using the learning from our module I / week 1 folder and workshop and learning Activities: 1. Identify and discuss the importance and role of the knowledge of risk and risk management in international business. 2. Provide 4 relevant real world examples of where and how risk management knowledge is used within the internal company operations of any international business company and industry of your choice. 3. Apply risk management framework 1 to your chosen international business company and industry by identifying, ranking, and prioritizing 4 risks that your particular chosen company faces within its external environment. 4. Outline a strategy to manage the most high impact and highest likelihood risk your chosen company faces. 5. Use a report format Step 1 Identify and discuss the importance and role of the knowledge of risk and risk management in international business (see the course reading for week 1: The boardroom imperative on internal control) Step 2 7 Provide 4 relevant real world examples of where and how risk management knowledge is used within the internal company operations of any international business company and industry of your choice (refer to the Powerpoint slides for week 1) Step 3 7 Choose any multinational company and provide a brief overview of the company (its size, prots, number of staff, head ofce, worldwide ofce locations, key products and services and general risk characteristics of the industry/sector) (refer to the company website). Step 4 - Apply risk management framework 1 to your chosen international business company and industry by identifying, ranking, and prioritizing 4 risks that your particular chosen company faces within its external environment. Step 5 Research the required information to complete Part A and Part B of the report as outlined below. Follow the criteria standards matrix rubric as a guide to your headings and sub- headings. Use a numbering system for headings and subheadings and all conventions of the report format. Apply risk management framework 1 to your chosen international business company and industry by identifying, ranking, and prioritizing 4 risks that your particular chosen company faces within its external environment. Report format and structure Read together with 'IBUS 1000 Sample Report' I Title Page (should stand alone on its page) 11. Executive Summary (should stand alone on its page) 111. Table of contents (should stand alone on its page) 1. Introduction: It's advisable to write the introduction last as it overviews each of the areas/sections/sub-heads included in the report. Use future tense in your language, e.g. \"This report will. ..\" Remember an introduction should not include the conclusion. The purpose is to introduce the contents of the report i.e, 'This report discusses the importance and role of the knowledge of risk and risk management in international business organization. . ., Introduce the chosen company, its product line and industry/sector, then nally Introduce the elements of the report, and the structure / organisation of the report (For example, section 2 discusses..., section 3 addresses, in section 4, the report makes recommendations, section 5... etc). 2. The Core Risk Concepts: 2.1. Dene and describe what risk is, what a risk event is, what risk management is, 2.1.1 Describe the characteristics and features of risk and risk management, 2.1.2 Describe the importance and role of the knowledge of risk and risk management i.e. the benets and uses of the knowledge of risk management to the company (see the course reading for week 1: The boardroom imperative on internal control) 2.2. Where and how risk management knowledge is used within the company Clearly identify and mention your selected company again. 2.2.1 Identify and describe 4 relevant real world examples of where and how risk management knowledge is used within your selected company, describe its internal company operations where risks arise and where/how such risks are managed. 2,2.2 Briey describe general internal risks specic to the industry of your selected company (eg. we all know that a food & beverage company's fear is the internal risk of contamination whether it is CocaCola, Kraft, Nestle or McDonalds). 2.3. Risk Identication, Ranking and Prioritization Using your selected company as an example (directly mention its name again), describe and explain 4 types of risks that the company faces in its external environment and external risks common to the industrial sector in which your chosen company operates 2.3.1 Focusing on your selected company and the 4 external risks you have identied as impacting your chosen company, apply risk management framework 1 to the 4 external risks identied. Classify and rank them according to the framework 2.3.2 Briey discuss why you think each one should fall in the ranking category where you have placed it. Ensme to identify and be clear on the most urgent external risk and explain why. A: High Impact / High Likelihood B: High Impact / Low Likelihood C: Low Impact / High Likelihood D. Low Impact / Low Likelihood 2.4 Recommended Risk Management Strategy: In this section, outline a strategy to manage the risk with the highest impact and highest likelihood of occurrence that your chosen company faces. 2.5.Summary and Conclusion: This is a short paragraph reiterating the main issues outlined. Use past tense for this, for example, \"This report has outlined...i.\" or \"This report has identied. . .\". Do not use dot points. 3. REFERENCE LIST (APA): Please start on a fresh page (stand alone on its page). You can cite the course readings, the textbook, the company's website to integrate theory and application as a minimum. Also ensure that you use in-text APA referencing and APA referencing style in your reference list. 4. RELEVANT APPENDICES IF ANY ~ Word Limit: (1500 words +/-10%) ~ Submit to Tumitin before 1 1:59pm on: Name the le being submitted as StudentjdiFirstNameiLastNameisession dayisession time e,g.: C31 lxxxxilacqui Mon79ame 11am We are looking for your ability to explain things both in theoretical terms and through practical application of the theory to the particular case company. This is not a data gathering exercise; hence, we are not evaluating your capacity to gather data about the company/ business. However researching the information from week I is essential. You may make assumptions about your selected company where practicable if their website lacks the data you need. Please state any assumptions you make