You are a manager of an electronics and electric company. Your company produces and sell TV, Fridge, Washing Machine, Air Conditioners, etc. electronics and electric product in the international market (Local and Foreign Market). This electronics and electric business involve several risks with their severity and frequency.You are to consider those risk severity and frequency in business planning, operations and strategies. You have been passing a critical period due to COVID-19 pandemic. You, as a manager, are asked develop a risk management matrixcovering risk severity and frequency.You may consider the possible risks, their frequency and severity and possible strategic planning. a. What is Risk? What is Enterprise Risk Management? b. What is the risk profile of electronics and electric business? i. Risk Severity (low to high) of electronics and electric business. ii. Risk occurrence frequency (low to high) of electronics and electric business.
Critical Thinking and Discussion Questions
You are a manager of an electronics and electric company. Your company produces and sell TV, Fridge, Washing Machine, Air Conditioners, etc. electronics and electric product in the international market (Local and Foreign Market). This electronics and electric business involve several risks with their severity and frequency.You are to consider those risk severity and frequency in business planning, operations and strategies. You have been passing a critical period due to COVID-19 pandemic. You, as a manager, are asked develop a risk management matrixcovering risk severity and frequency.You may consider the possible risks, their frequency and severity and possible strategic planning.
a. What is Risk? What is Enterprise Risk Management?
b. What is the risk profile of electronics and electric business?
i. Risk Severity (low to high) of electronics and electric business.
ii. Risk occurrence frequency (low to high) of electronics and electric business.
c. Establish a Risk Management Matrix with Risk Management Technique to control or reduce or manage those risk and keep successful and profitable business operation.
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