Interdependencies in Risk Management
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In a top-down approach, the final step is to examine the organization's business processes. I need to discuss the following in three pages
Identify a specific example of how a risk in one business process affects the risk level in another. In your paper, outline how you might be able to mitigate these interdependencies.
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The answer to this problem explains risk management in business. The references related to the answer are also included.
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In compliance with BrainMass rules this is not a hand in ready paper but only guidance.
The specific example is from the company where I work. The firm makes plastic molded toys. The first process is the designing process. This process begins when information is received from the market place, specifically the retail outlets. Based on the information received from the marketing department the design of toys is created on a computer. A print is also generated. The risk in this process is that the design may either not be suitable for production or the toy may not be in accordance with market requirements. The design is handed over to one of the work teams.
Each work team has an expert frame maker who converts the design into a wooden frame. Molds are made from the wooden frames and the plastic toys are made by using the molds in the injection molding process. If the design created is not suitable for production, either the frame making becomes very difficult or the molding process leads to high number of rejects. Therefore the risk of having a large number of rejects during the molding process is directly related to the risk in the designing process. In addition, during the plastic molding process there ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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