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Identify operational risk and competitive risk management issues illustrated by the case. Analyse why and how these issues developed in the case study company
Identify operational risk and competitive risk management issues illustrated by the case. Analyse why and how these issues developed in the case study company thereby causing or allowing the crisis to occur. Analyse the developments and actions of the case study company prior to the crisis event and use framework of risk management practices and related frameworks (strategy, culture, and corporate governance). Explain the weaknesses and shortcomings in the risk management practices and processes and related areas of strategy, culture, and corporate governance. Based on your analysis provide your lessons for company staff on how to achieve better risk management so to avoid the types of issues and underlying causes of the risk management issues. Provide specific suggestions of better risk management practices and improvements that could be made in related areas of strategy, culture, and corporate governance practices. Illustrate the suggestions with examples of actions that you consider would provide better risk management outcomes.
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