Management and Organizational Studies 2275A/B Chapter Notes - Chapter 3: Enterprise Risk Management, Debt Management Plan, Crisis Management

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Most underground extraction process relies on a continuous mining machine which cutes ore from the mine walls. Ma(cid:374)agi(cid:374)g the i(cid:374)te(cid:396)se(cid:272)tio(cid:374) of la(cid:449) (cid:449)ith a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s a(cid:272)ti(cid:448)ities (cid:396)e(cid:395)ui(cid:396)es (cid:272)o(cid:373)pleti(cid:374)g a comprehensive assessment of legal risk exposure and developing a legal risk management plan. Enterprise risk management all risks within an organization including those with legal implications are assessed and managed. Legal risk management plan: step 1: identify the legal risks, step 2: evaluate the risks, step 3: devise a risk management plan, step 4: implement the plan. When a risk is not identified it cannot be managed. Be sure that no significant risks have been overlooked. Example for applying step 1 a business may assess its functional areas assessing business decisions, relationships, operations. A highly departmentalized company might choose to focus on evaluating the risks associated with its functional areas. Small consulting firm would focus on legal risks arising from business relationships.