Develop a mitigation strategy for Wal-Mart. Apply loss control methods to each of the hazards identified. What groups are accountable? What are the intended outcomes? What might be unintended outcomes?© BrainMass Inc. brainmass.com October 25, 2018, 9:59 am ad1c9bdddf
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Wal-Mart faces various risks such as interest rate risks, foreign exchange risks, HR risks and inherent risks, which could negatively impact the company and its operations in the market (Moeller, 2011). Wal-Mart is a large and dominant firm that faces inherent risks related to the environment, wastage and unauthorized use of products. In order to reduce these risks, company would use ...
This response provides brief guidelines for what risks Wal-mart faces and how these risks could be mitigated.
Risk Management at Wal-Mart
Write a report that demonstrates the principles, concepts, types, frameworks and processes of Risk Management through the following:
A. Define the concept of risk in an organisation (or an example case study organisation) and show how it might be closely tied to the amount of information that is available to make decisions.
B. Describe the various types of risk prevalent to the organisation
C. Develop a framework for handling risk in the organisation
D. Develop a systematic risk management process in the organisation.
Prepare an outline for a business continuity plan that builds on the previous points.
Take into consideration the following:
A. Possible comparisons between the techniques of employment weighted checklists, risk logs, brainstorming sessions, behavioural models, diagramming techniques, flow charting, and conducting productive meetings and suggest their strengths and weaknesses in the organisation
B. The inmpacts of risk events in the organisation through the possible use of qualitative techniques
C. The impacts of risk events in the organisation through the possible development of quantitative risk models
D. The application of conditional probablities and statistical distributions in analysing risk models
E. The difference between business continuity and recovery as applied to the organisation
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