11/19/2019 Originality Report
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SafeAssign Originality Report Fall 2019 - Enterprise Risk Management (ITS-835-20) (… • Week 13 Journal Reflection Assignment (Due Novem…
%37Total Score: Medium risk Sriteja Thuraka
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Word Count: 618 UseCaseStudy_Journal_Week13_ERM.docx
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11/19/2019 Originality Report
https://ucumberlands.blackboard.com/webapps/mdb-sa-BB5a31b16bb2c48/originalityReport/ultra?attemptId=c02195df-f483-4a0f-8389-23d34c4fc0eb&course_id=_… 2/3
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Student paper 68%
Running head: USE CASE STUDY_Week 13_ Journal 2
USE CASE STUDY 2
Use Case Study
Sriteja Thuraka
University of the Cumberlands
Enterprise Risk Mangement
Use Case Study In the current world we are living today and with the existing turbulence in the market, majority of the firms are spending a lot of visible and also invisible resources in trying to get a higher competitive benefits over their competitors and towards ensuring a superior perfor- mance (Brustbauer, 2016). Initial studies have basically discussed a number of determinants related to the competitive advantage and performance particularly aimed at the developed economies in a market situation where small or medium sized enterprises are emerging in economies and that have basically received some minor attentions in the market. In this study therefore, a number of issues have been examined together with the me- diating responsibility of managing the competitive benefits related to the enterprise risk and their related managerial practices and also the manag- ing role related to financial discipline. In some cases, also, questionnaires are used so as to collect data and which should greatly be used in control- ling the upcoming market structure (Olson, & Wu, 2015). Organizations are therefore encouraged to implement a number of enterprise related risks in relation to the existing management practices with an aim of gaining higher levels of competitive advantage as well as superior performance. Top managers in organizations also need to ensure that there is enough financial education and that they will be in a better position in the market. Enterprise risk management is generally expected to greatly minimize on the direct and indirect costs related to the financial distress and negative shocks in the entire financial markets and also in ensuring the improvement of decision-making process so as to select the best investment oppor- tunities. A number of internal fences as well as lack of management capabilities and adequate resources and which are more likely to focus on the entire practices in the risk associated management (Brustbauer, 2016). Medicinal services associations are situations with high the board mul- tifaceted nature and subject to a steady presentation to dangers. Venture hazard the board (ERM) has been considered and applied in various finan- cial conditions with the point of improving authoritative execution. Be that as it may, the wellbeing segment still experiences an absence of con- sideration in this specific situation, specifically with respect to the requirement for a high level of monetary straightforwardness and for the founda- tion of procedure orientated administration, and this gives the inspiration to the investigation depicted in this paper. An ERM model for wellbeing associations is proposed, in view of a deliberate writing survey and on seven contextual analyses in Brazilian clinics. A way to deal with financial chance appraisal utilizing pointers, for example, the income in danger and the changeability of expenses and receipts from the proposed model is recommended. The wellbeing associations engaged with the contextual analyses all decipher ERM as a wellspring of data adding to corporate ad- ministration, and the markers recorded give helpful information to progress-driven basic leadership (Bromiley, McShane, & Rustambekov, 2015).
Given the intrigue communicated by the associations in question, further application and approval of the proposed model in ensuing ponders is recommended. This is therefore a bit different from what is provided in the use case in this week’s study. However, organizations should greatly focus on the best practices towards the achievement of their set goals and objectives.
References
Bromiley, McShane, & Rustambekov, (2015). Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), 265-276. Brustbauer, (2016). Enterprise risk management in SMEs: Towards a structural model. International Small Business Journal, 34(1), 70- 85. Olson, & Wu, (2015). Enterprise risk management (Vol. 3). World Scientific Publishing Company.
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University of the Cumberlands
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University of Cumberlands
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Enterprise Risk Mangement
Original source
Enterprise risk management
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Student paper
Enterprise risk management is gen- erally expected to greatly minimize on the direct and indirect costs relat- ed to the financial distress and nega- tive shocks in the entire financial markets and also in ensuring the im- provement of decision-making process so as to select the best in- vestment opportunities.
Original source
ERM is supposed to minimize direct and indirect costs of financial dis- tress, earnings volatility, and nega- tive shocks in financial markets, as well as improve the decision-making process to select the best invest- ment opportunities (Beasley et al
11/19/2019 Originality Report
https://ucumberlands.blackboard.com/webapps/mdb-sa-BB5a31b16bb2c48/originalityReport/ultra?attemptId=c02195df-f483-4a0f-8389-23d34c4fc0eb&course_id=_… 3/3
Student paper 83%
Student paper 92%
springer 100%
Student paper 100%
springer 84%
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Be that as it may, the wellbeing seg- ment still experiences an absence of consideration in this specific situa- tion, specifically with respect to the requirement for a high level of mon- etary straightforwardness and for the foundation of procedure orien- tated administration, and this gives the inspiration to the investigation depicted in this paper.
Original source
The health segment, still experiences an absence of consideration in this specific situation, specifically, with respect to the requirement for an el- evated level of financial related straightforwardness and for the foundation of procedure orientated administration, and this gives the in- spiration to the investigation depict- ed in this article
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Student paper
Given the intrigue communicated by the associations in question, further application and approval of the pro- posed model in ensuing ponders is recommended.
Original source
Given the intrigue communicated by the associations in question, further application and approval of the pro- posed model in ensuing considers is recommended
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Student paper
Enterprise risk management: Re- view, critique, and research directions.
Original source
Enterprise risk management review, critique, and research directions
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Student paper
Enterprise risk management in SMEs: Towards a structural model.
Original source
Enterprise risk management in SMEs Towards a structural model
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Enterprise risk management (Vol.
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Enterprise risk management
ITS835 enterprise risk management Chapter 4 & 7
ERM at statoil and united grain growers
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University of Cumberlands
Introduction
History of Statoil
ERM at Statoil
United Grain Growers Background
ERM at Grain Growers
Conclusion
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University of Cumberlands
Statoil History
Headquartered in Stavanger, Norway
World’s top 10 oil and gas producers
706 billion in revenue
23,000 employees
2,004 million barrels of oil
40 year history of producing oil
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University of Cumberlands
Erm at statoil
Goals: create value and avoid accidents
Wanted a way to manage risks
Recognize risk taking is unavoidable even necessary to create value for shareholders
Risk Map
Upside potential and downside risk for a risk factor
Reported risks are listed twice
Value Creation is the guiding principle for an ERM
Viewing risks in a value chain
Value Chain has 3 main stages
Exploration and development of oil and gas reserves
Refinement of hydrocarbons into various gas products
Selling of gas, oil and products into different markets
Risks divided into 2 categories: market and operational risks
ERM Processes
Quarterly rhythm with meetings
Write response to business units
Risk department is supervisor of the risk mapping process
Support business and encourages best practices
Risk mapping, quantification of probability and impact considered
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University of Cumberlands
Total risk optimization: lessons learned
Tacked the task of avoiding risk management decisions that are suboptimal for the company.
Established KPIs and scorecards
Spent time on beforehand thinking about what ERM should look like
Risk Committee Roles and Responsibilities
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University of Cumberlands
conclusion
Evolution of ERM over time based on organizational goals and values
ERM Processes to minimize risks and optimize it
Consider upside and downside potential risk during assessment exercise
ERM to increase organizational performance
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University of Cumberlands
United grain growers overview
Commodity traded company
Focused on grain grown in Canadian
Factors the impact operations
Government regulation
Political risk
Governance
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University of Cumberlands
UGG Leadership
Structure
CEO
Board of Directors
1906 Farmed-owned cooperative
Bureaucratic business model
Early 1990s suffered financial distressed
Breach of bank covenants and losing cash
CEO suggested drastic changes to help increase operational and financial performance
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University of Cumberlands
Ugg erm process
Identify and access principle risks
ERM exercise to identify risks
Two approaches to address problems
Developed Strategic Plan to improve financial dividends and balance sheet numbers
Credit Financial Outcomes
Merger with Agricore United through risk financing program
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University of Cumberlands
conclusion
ERM Usage to help with Financial Risk
Outcomes of using ERM
Leadership Changes due to ERM
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University of Cumberlands

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