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Risk governance: Identify at least eight risks for your chosen company which is CBA and evaluate the recognized risks by their impact and probability (by
Risk governance:Identify at least eight risks for your chosen company which is CBA and evaluate the recognized risks by their impact and probability (by allocating a level from 1 to 5) and by using the tool example provided (Risk recognition, evaluation and mapping). Discuss appropriate risk policies for four of the selected eight risks.
Figure 3 High 5 . Constraints on manufacturing due to COVID- 19 . COVID-19 Vaccination * Product withdrawal due to efficacy and safety concerns Likelihood adverse event . Reputation loss due to law Cases . Pricing pressures from customer groups/government . Hacking of Database and 2 . Direct competitor launching customer information leaks new product . Health and well-being of Low 1 employees deteriorating 2 3 5 Low High ImpactFigure 2/ BOARD OF DIRECTORS Board Committees REPRESENTATIVE RISK FUNCTIONS Audit Compensation Nominating & Finance Regulatory Science, Technology Report into EC members: & Benefits Corporate Governance Compliance & Sustainability support Board Committees and Business Units: . Corporate Internal Audit O Environmental Health, EXECUTIVE COMMITTEE Safety & Sustainability . Global Market Quality . CEO . EVP, Chair, Med Devices . EVP, CFO . Global Privacy . Vice Chair, EC . EVP, Chair, Pharma . EVP, General Counsel . Global Security . Chief Scientific Officer . EVP, Supply Chain . EVP, CHRO . Health Care Compliance . EVP, Chair, Consumer . EVP, CCO Info Security & Risk Management . Law Department O BUSINESS UNITS . Medical Safety . Regulatory Compliance Pharmaceutical Medical Devices Consumer Corporate Functions JJCC O O BOARD OF DIRECTORS EXECUTIVE COMMITTEE BUSINESS UNITS/ JAJ COMPLIANCE ENTERPRISE Throughout the year, the Board The EC establishes overarching ENTERPRISE FUNCTIONS COMMITTEE GOVERNANCE COUNCIL and its Committees rocalve strategic goals and sets Operational management establishes The JJCC serves as the The EGG serves in a updates from management Financial targets based on internal controls and executes primary governance community of experts and key risk functions regard- our Enterprise Principles and procedures to identify, assess and structure for information working cross-functionally ing enterprise risk management Global Growth Drivers, Those manage events that may pose a risk sharing and coordinating to drive alignment and issues and risks related to our goals are then cascaded to to their business units. Comresponding compliance-related risks coordinate efforts related businesses, including active our businesses worldwide. risk functions are engaged to analyze across core risk functions. to key environment, social and potential litigation as wall ensuring enterprise alignment. risks and determine how they should and governance topics. as reputational risk. be addressedStep by Step Solution
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