Twenty years ago, risk management meant buying insurance against fire, theft, and liability losses.
Today, though, due to globalization, volatile markets, and a higher propensity to sue, a multitude of risks
can adversely affect organizations in all industries. Microsoft addressed these risks by creating a virtual
consulting practice, called Microsoft Risk Co., to help manage the risks faced by its sales, operations, and
product groups. In a 1997 article, Scott Lange, head of Microsoft Risk, identifies 12 major sources of
risk. What do you think would be the major sources of risk to Microsoft?
The twelve major sources of risk identified by the Scott Lange are business partners, competition, customers, distribution systems, financial, operations, people, political, regulatory & legislative, reputation, strategic (mergers, acquisitions etc), and technological. These risks need to be identified, monitored, and mitigated for the successful running of the business.
The major sources of risk to Microsoft are Competition, Financial, Technological, and Reputations.
Competition is the most important source of risk. This means the risk of losing market share, price ...
This solution explains the risks faced by Microsoft. The sources used are also included in the solution.
HR and Risk Mitigation Plan
Based on the attached opportunity analysis paper:
- Identify the human resources required by the project, including management and end-users. Define titles and the skill-sets required for each title. Describe whether these resources are available or might have to be hired. Estimate the cost of each resource. Human resources costs are available on job sites such as monster.com or available through Microsoft's Human Resources department. Document the source of your costs. Describe how you intend to retain selected human resources via compensation and/or reward systems.
- Develop a risk mitigation and monitoring plan by first listing all risks (i.e. technical, people, business, cultural, etc.), defining the likelihood of the risk occurring (e.g. 3 on a scale of 1 through 5 with 5 being highly likely it will occur), and providing a mitigation or contingency strategy for that risk. Please use a tabular format.
P.S. Please provide appropriate references for statements and/or quotations next to the statements and/or quotations itself, apart from the references that you would provide at the end of your response as well. If you're just going to respond with outside references only, then please DO NOT respond.View Full Posting Details