| Risk Management JCB is the world’s third largest manufacturer of construction equipment. The company is based in the UK and has 22 production facilities, based in various countries around the world, producing in excess of 300 machine types for over 150 countries. The company is the UK’s largest private company and has an annual turnover approaching £3 billion You are required to read the case study, concerning JCB in order to provide a response to the following tasks: Required: Part A (2000 words) PLEASE SEE PART A EXAMPLE IN THE UPLOADS BEFORE STARTING THIS PART Using your knowledge of Risk Management, you are required to systematically approach the following tasks: 1. Identify, using appropriate models/classifications (PEST or SWOT analysis), the major risks that face JCB within the foreseeable future. It should be remembered that the identified ‘risks’ may present opportunities or threats/hazards. You should ensure that you present well-researched and well-referenced evidence. (You are expected to present a good deal of research – at least 20 references in addition to those from the case study. Make sure that you number the risks and that these same risks appear in an ordered fashion in Task 2). (25%) 2. Formulate strategies for taking advantage of the opportunities, or strategies for controlling the identified threats that you have discussed in Task 1. These strategies should be specific to JCB and should address each issue that you have highlighted above and they should also be numbered appropriately. (25%) Part B (2000 words) 3. Vesey (2011 p22) states, “reputation will not appear as a separate item on a business’s balance sheet but generally represents a significant proportion of the difference between market value and book value………As total intangibles now often account for some 75% or more of market value reputation is, for many businesses, their single greatest asset. However, he also states (p22), “relatively few companies measure, analyse and monitor reputational risk in a structured, timely and accurate manner.” You are required to provide a critical discussion considering why “relatively few companies” may engage in appropriate reputational risk management strategies. You should also provide a well-considered discussion as to whether or not you think it is possible to manage ‘reputation risk’, due to the intangible nature of ‘reputation’, by providing a critical appraisal of variety of suggested approaches that you can find within your research. Your discussion should encompass a wide range of literature and should be fully supported by a good deal of academic underpinning (i.e. references). There should be evidence of wide-reading in addition to the article by Vesey (2011). (50%) (Total 100 marks) Vesey, T. (2011), ‘Protecting your greatest asset’, Risk Management Professional, June, pp 22-23. You will find a copy of this article on the module Blackboard site with the rest of the assignment material. Further Information: You are required to present well structured answers of no more than 4,000 words in total. Learning Outcomes Assessed • Understand the all encompassing nature and importance of risk management • Use both qualitative and quantitative techniques in order to evaluate and manage risk • Consider the external and internal influences on corporate management approaches to risk management • Appreciate the importance of disaster scenario planning in today’s economic environment. It may be that, due to the possible diversity of student response, not all learning outcomes will be covered by each student. Assignments will be graded according to the following criteria: • Evidence of critical judgement in selecting, ordering and analysing content in order to present a sound argument • The demonstration and understanding of relevant concepts and models • The demonstration of insight and originality in responding to the assignment • The extent and level of research undertaken and the degree to which this research is appropriately referenced. • It is important that the assignment is forward looking and is not an analysis of historic risk. • Students are required to relate specific and actual identified risks, assessment and strategy to JCB. The use of generic theoretical models and checklists should only be used when related specifically to JCB. All of the usual University regulations will apply with regard to the late submission of work and plagiarism. How to succeed in Phil’s assignments! • Ultimately this depends on to what extent you want to achieve a good grade! Those students who put time and diligence into their assignments are generally rewarded for their efforts. Important specific points to remember • Think about the question and the structure of your answer – you need a clearly defined structure which addresses the specific issues of the assignment. Therefore, PLAN your response very carefully before beginning to write. Think to yourself: o What is the question asking me to do? o Is what I am writing focussed on the question – is it relevant – or am I just including it because I found it!!? • Make sure that you read all articles which are referred to in the assignment • Never write anything in your assignment that you do not understand • Do not use ‘bullet points’ to any great extent – this tends to preclude analysis and explanation • Think about presentation o Contents page o Page numbers o Use short sentences o Use many short paragraphs – a new paragraph for each different idea. o Do not use too many headings – this tends to prevent the flow of the work o Where an assignment is divided into parts 1) 2) 3) etc – answer in that format – do not merge answers – it is impossible for the assessor to mark these easily. • When referencing o NEVER reference to Wikipedia, Investopedia, mbaessays.com, chaeatsrus.com etc – these websites are all unsubstantiated – the material on these can be written by anyone – ALWAYS use academic literature (journal articles, text books etc – these have been refereed by other academics – unless you are looking on reliable websites for data and statistics) o If you include a quote in “speech marks” you need to also include the page number from the source as well as the author name and date – no page numbers if there is no quote o All the references that appear in the script should appear in your Reference List – it is not a Bibliography o The Reference List should be in alphabetical order by author surname (family name) |
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