Akawini Enterprise Risk Management Essay Chapters 26 through 29 presented four mini-case studies on ERM and risk. Each one presented a slightly different r

Akawini Enterprise Risk Management Essay Chapters 26 through 29 presented four mini-case studies on ERM and risk. Each one presented a slightly different risk scenario. Starting with chapter 29

To complete this assignment, you must do the following:

As indicated above, assume that you have been asked to advise the Akawini (chapter 29) management team on how they should promote and monitor the transformation of risk management in their business. What performance measures would you recommend that use so that they can monitor progress and performance? Choose one other of the chapters from this week and recommend ERM measures that organization should implement as well to monitor risks outlined in that chapter. Chapters 26, 27, 28, 29
Mini-Cases on ERM and RIsk
Enterprise Risk Management
Overview
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Collection of four mini-cases
Leaves open ended questions
Presents real life situations
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And needs for ERM
Mini-Cases
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Bim Consultants Inc.
Nerds Galore
The Reluctant General Counsel
Transforming Risk Management at Akawini Copper
Bim Consultants Inc.
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Consulting firm
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3,000 staff
30 partners
“Customers are number one”
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10 offices in Canada
But revenue is stagnant
Opportunity to buy out competitor
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Purchase would double size and sales
Negotiations must be kept confidential
Nerds Galore
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Canadian IT service company
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12 offices
1,000 employees
Grew from founder’s garage
Shift from small start-ups to medium size customers
High turnover of 20% is causing concern
Decreasing customer satisfaction
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Steady revenue (for now)
Nerds Galore, cont’d.
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Strategy from new HR VP
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Attract the best talent
Retain good people
Manage talent
Optimize the use of people
Rely on outsourcers
Executive team workshop to explore HR risks
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Inability to recruit people with needed skills
Loss of staff with key internal knowledge
Uncompetitive labor production
Increased departures of skilled technical staff
Loss of key business know-how
The Reluctant General Counsel
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Business Software Corporation (BSC)
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Silicon Valley, CA
Annual revenue over $1 billion
Board wants ERM
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Upper management supports establishing ERM
EVP of development and general counsel
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Doesn’t want to be involved in ERM
Risk discussions could be discoverable in lawsuits
U.S. Securities and Exchange Commission (SEC)
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Requires disclosure of risks
Recommendation is to not formally pursue ERM
Transforming Risk Management at
Akawini Copper
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Akawini Copper
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Mining company acquired by larger United Minerals
Single mine and plant
$774 million in revenue
1,500 employees
United Minerals implemented ISO 31000 framework
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Substantially more sophisticated than Akawini’s RM
Launched project to transform Akawini RM to ERM

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