Operational Risk

In: Business and Management

Submitted By lezlie
Words 589
Pages 3
Unite Code7001Unit NamePersonal Development as a Strategic ManagerUnit LecturerParvez Ahmed Khan
25/09/2009ASSIGNMENT QUESTIONWith reference to your organisation, write a report on PersonalDevelopment as a Strategic Manager. Your report should coverthe following learning outcomes and assessment criteria:-
LO1. Be able to identify personal skills to achieve strategic ambitions Assessment Criteria
1.1Analyse the strategic direction of the organisation1.2 Evaluate the strategic skills required of the leader to achieve the strategicambitions1.3 Assess the relationship between existing, required and future skills toachieve the strategic ambitions
LO2. Be able to manage personal leadership development to supportachievement of strategic ambitions Assessment Criteria
2.1 Discuss the opportunities to support leadership development2.2 Construct a personal development plan to direct leadership development2.3 Devise an implementation process for the development plan
LO3. Be able to evaluate the effectiveness of the leadershipdevelopment plan Assessment Criteria
3.1 Assess the achievement of outcomes of the plan against original objectives3.2 Evaluate the impact of the achievement of objectives on strategic ambitions3.3 Review and update the leadership development plan
LO4. Be able to promote a healthy and safe environment that supportsa culture of quality Assessment Criteria
4.1 Assess the impact of corporate and individual health and safetyresponsibilities on the organisation4.2 Estimate an organisational culture of quality on the achievement of strategicambitions

General Instructions
To address the Learning Outcomes/Assessment Criteria you are required to make statements as aStrategic Manager and Leader which demonstrate that you have fulfilled the LearningOutcomes/Assessment Criteria. Your statements in answer to the question need…...

Similar Documents

Qantas Operational Risk

...Assume that the operating rental commitment for 2009 due between 1-5 years is distributed equally over the years 2011-2014, i.e. 2700m/4= $675m. The commitment due beyond year 5 in total is $1186m. The number of years beyond year 5 is calculated by dividing the total amount of commitments due beyond year 5 (> 2014) by the amount of commitments due in year 5, i.e.1186/675=1.757=2 years. This means the total discount period equals 5 years + 2 years = 7 years. Assume that for the years beyond year 5, payments are also distributed equally. Payment schedule (perspective from 2009) | t= | Payment | Present value | 2009 | 0 | 0 | 0 | 2010 | 1 | 798 | 725.5 | 2011-2016 | 2~7 | 675 | 2672.5 | | | Net present value | 3398 | Liability: From the 2009 perspective, payments of $798m are due in the year 2010. One part refers to interests that Qantas has to pay on the liability (10% x 3398 = 340m). The remaining difference (798 – 340 = $458 m) reduces the value of liability. Hence, in 2010, the liability equals 3398-458= $3058 m . Right of use asset: In 2009, the right of use asset is also 3398 million. Life of leases is assumed to equal the total discount period, i.e. 12 years. The right of use asset is amortised on a straight line basis. In 2010, the right of use asset is therefore amortised by 3398/12 = $283m. Therefore, the right of use asset is $3115m ($3398-$283). Appendix 2.1 Balance...

Words: 676 - Pages: 3

Operational Management

...came with a new strategy called “HELP YOURSELF” 2. Is their operations strategy consistent with the overall strategy? What are the operational elements of Ginger hotels that provide this strategic dimension to the operations? Yes, their operational strategy is consistent with the overall operating strategy. Ginger hotel is a service oriented firm. Their innovative services and products were the main reasons for their business to grow huge and to obtain maximum profits. Therefore it has to offer quality and better services to stay in the market. The services are provided by them in two ways - standardized way and customized way. Standardized way includes the routine services provided like facilities (TV, Heater, AC) in rooms, room services, other things offered by a hotel. Customized services include all the innovative smart services (self – services) provided in this hotel. This kind of flexibility helps them to retain their customers and bring in new customers. Hence Ginger Hotels is consistent with the overall operating strategy Their Operations Strategy is consistent with their as seen from the services they provide. The operational elements that provide them the strategic dimension are: * Self Service Check-In * Smart Services (Get Set, Knick Knacks, Mart) * Give n’ Take Counter 3.Can you identify the strategic and operational benefits that Ginger hotels is likely to derive from the operations strategy and operation system design that it has......

Words: 403 - Pages: 2

Operational Budget

...Phase 4 DB HCM410-1303B-02 September 14, 2013 Operational Budget with addition of 4 new areas Introduction The Krona Community Hospital, established in 1977, is a 60-bed, acute care hospital located in Banconota County. They currently offer a full range of health care services and maintain a staff of almost 100 physicians and specialists, 400 employees, as well as numerous volunteers. They are currently fully accredited by The Joint Commission. A private, not-for profit health care chain called Nouveau Health has taken over the management of Krona Hospital. The new facility that has been proposed to the state officials for approval, will include 74 acute care beds, all of which will be private. It will also include four observation rooms, four surgical operating rooms, a 24-hour emergency center, a maternity department including one C-section room and an intensive care unit. It will also have extensive support services such as physical therapy and cardiac rehabilitation. In order for the new facility to be a success, we must prepare next year’s financial plan and operational budget. This can be accomplished through careful planning, forecasting, and finance management. First, we need to expand the budget and take into consideration any new services being offered. We have $3 million we can use for additional staff, maintenance and other services. Funding sources The primary source of funding is through government health insurance programs. Medicare......

Words: 1439 - Pages: 6

Operational Risk

...Operational Risk measurement This is defined as “the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This includes legal risk, but excludes strategic and reputation risk”.9 Such risks are likely to be significant in Islamic Banks due to specific contractual features and the general legal environment. Specific aspects that could raise operational risks in Islamic banks include the following: (1) The cancellation risks in non binding murabahah and istisnah[’a contracts. (2) Problems in internal control systems to detect and manage potential problems in operational processes and back office functions. (3) Technical risks of various sorts. (4) The potential difficulties in enforcing Islamic Finance contracts in a broader legal environment, (5) The risk of non-compliance with Shariah requirements that may impact on permissible income, (6) The need to maintain and manage commodity inventories often in illiquid markets, and (7) The potential costs and risks in monitoring equity type contracts and the associated Legal risks. In addition, increasing use structured finance transactions – specifically, Securitization of loans originated by banks to manage risks on the asset side – could47 Expose banks to additional legal risks. The three methods of measuring operational risks proposed in Basel II would need considerable adaptations in Islamic Banks owing to the...

Words: 1662 - Pages: 7

Operational Risk Assessment of Pilgrim

...detailed assessment of formal operational risk disclosure in relation to the vertically integrated poultry producer Pilgrim’s Pride Corporation (PPC). Overall PPC establishes fair reporting of operational risks, however, these disclosures will be evaluated based on the risk related information formally disclosed in the company’s financial statements in contrast with evaluation of risk present considering bias of company risk measurement as well as assessment of risk applicable as determined from informal and third party sources. This report will specifically analyze risk in this way in regards to market risk, supply chain risk, country risk and environmental risk applicable to and disclosed by PPC. MARKET RISK PPC experiences significant to market risk in its operations. The following analyzes this risk in regards to its three main components: competitive rivalry, segments and seasonality. Competitive Rivalry PPC recognizes competition as a significant risk to its operations in its 2012 10-K. The company notes that the market remains fairly concentrated, with the four main chicken producers accounting for over 50% of the US industry’s market share. The company also discloses that it operates as the second largest in the US with a market share of 17.4%.1 As a result PPC discloses this market concentration and competitive rivalry as significant risk factors to the company. PPC does not disclose any additional data for the analysis of this risk in its 10-K. This......

Words: 4457 - Pages: 18


...T e c h n i c a l n o T e s a n d M a n u a l s Operational Risk Management and Business Continuity Planning for Modern State Treasuries Ian Storkey Fiscal Affairs Department I N T e r N A T I o N A l M o N e T A r y F U N D INTerNATIoNAl MoNeTAry FUND Fiscal Affairs Department Operational Risk Management and Business Continuity Planning for Modern State Treasuries Prepared by Ian Storkey Authorized for distribution by Sanjeev Gupta November 2011 DISCLAIMER: This Technical Guidance Note should not be reported as representing the views of the IMF. The views expressed in this Note are those of the authors and do not necessarily represent those of the IMF or IMF policy. JEL Classification Numbers: Keywords: H12, H60, H63, H83 business continuity, disaster recovery, business continuity and disaster recovery plan, operational risk, operational risk management, treasury operations ian@storkeyandco.com Author’s E-Mail Address: TECHNICAL NoTEs ANd MANUALs Operational Risk Management and Business Continuity Planning for Modern State Treasuries Prepared by Ian Storkey This technical note and manual (TNM)1 addresses the following main issues: • What is operational risk management and how this should be applied to treasury operations. • What is business continuity and disaster recovery planning and why it is important for treasury operations. • How to develop and implement a business continuity and disaster recovery plan using a six......

Words: 10882 - Pages: 44

Operational Risk Management

...≈√ F M A G u i d e l i n e s on Operational Risk Management These guidelines were prepared by the Oesterreichische Nationalbank in cooperation with the Financial Market Authority Published by: Oesterreichische Nationalbank (OeNB) Otto-Wagner-Platz 3, 1090 Vienna, Austria Austrian Financial Market Authority (FMA) Praterstraße 23, 1020 Vienna, Austria Produced by: Oesterreichische Nationalbank Editor in chief: Günther Thonabauer, Communications Division (OeNB) Barbara Nösslinger, Staff Department for Executive Board Affairs and Public Relations (FMA) Editorial processings: Chapter I and III: Roman Buchelt, Stefan Unteregger (OeNB) Chapter II and IV: Wolfgang Fend, Radoslaw Zwizlo, Johannes Lutz (FMA) Design: Peter Buchegger, Communications Division (OeNB) Typesetting, printing and production: OeNB Printing Office Published and printed at: Otto-Wagner-Platz 3, 1090 Vienna, Austria Inquiries: Oesterreichische Nationalbank Communications Division Otto-Wagner-Platz 3, 1090 Vienna, Austria Postal address: Post Office Box 61, 1011Vienna, Austria Phone (+43-1) 40420-6666 Telefax (+43-1) 40420-6696 Austrian Financial Market Authority (FMA) Executive Board Affairs & Public Relations Division Praterstraße 23, 1020 Vienna, Austria Phone (+43-1) 24959-5100 Orders: Oesterreichische Nationalbank Documentation Management and Communications Services Otto-Wagner-Platz 3, 1090 Vienna, Austria Postal address: Post Office Box 61, 1011Vienna, Austria......

Words: 50825 - Pages: 204

Unit 5021 Operational Risk Management

...CMI Level 5 Diploma in Management and Leadership Unit 5021 – Operational risk management CARE 4 ME Angela Jackson Content 1. Be able to understand the concept of risk management 2. Be able to understand the identification of risk and risk probability 3. Be able to understand the management of risk response approaches 1.Be able to understand the concept of risk management 1.1 - Discuss the meaning of risk to an organisation Good risk management awareness and practice at all levels is a critical success factor for any organisation. Risk is inherent in everything that an organisation does: treating patients, determining service priorities, project management taking decisions about future strategies or even deciding not to take any action at all. Risk management is the process of identifying, quantifying and managing the risks that an organisation faces. As the outcome of business activities are uncertain, they are said to have some element of risk. These risks include strategic failures, operational failures, financial failures, market disruptions, environmental disasters and regulatory violations. When it is impossible that companies remove all risk from the organisation, it is important that they properly understand and manage the risks that they are willing to accept in the context of the overall corporate strategy. The management of the company is primarily responsible for risk management, but the stakeholders; external auditor and......

Words: 3249 - Pages: 13

Operational Approaches

...The response addresses the queries posted in 1725 words with references. //As per the directions, the section explains about the operational approaches that can be used for service and manufacturing organizations. It discusses the important operational approaches like Customer Relationship Management (CRM), Enterprise Service Management (ESM), Supply chain Management (SCM) and Decision Making Framework (DMF).\ To serve the different needs and expectation of various customers effectively, it is necessary to implement effective operational approaches, which enable the organization to meet the standards of particular industry. There are various operational approaches for a service and manufacturing organization, which are necessary for increasing the productivity and efficiency of the organization. I have chosen consumer relationship management as an operational approach for service organization and supply chain management for manufacturing organization. Operational Consumer relationship management: It is used to handle relationship with customers and assists the front office business processes such as marketing, sales and service. Each contact with the customer is added to the contact history of the customer, which can be used later by the employees to analyze information from the customer's database. This CRM practices the data of customer for a number of purposes such as to manage different campaigns, sales force automation and marketing automation. Enterprise......

Words: 1819 - Pages: 8

Managing Currency Risk with Financial and Operational Hedging Techniques.

...the financial market, almost all of companies need to face the currency risk. In order to manage the currency risk, companies will use different hedging techniques, such as financial and operational hedging techniques. For example, money market, futures contracts, options and forwards contracts are commonly used by firms, as well as operational hedging techniques. All of 4 types of financial hedging techniques are short-term hedge. Money market is a part of financial markets for assets involved in short-term borrowing,lending, buying and selling. Its features are high liquidity, lower risk, such as treasury bills. Futures contracts are future transaction for buying or selling, and made by Futures exchange. The date and place of the transaction have been provided. There are some features of futures contracts. Quantity, commodity and quality have been limited, excepting the price. Also, it cannot be done over-the-counter. Options is a financial tool, which based on futures. If purchaser hold the options, he/she will has a right, not the obligation, to buy from or sell to the seller of the provided commodity in the future as the same price as the price agreed now. The last financial hedging technique, forwards contracts, is a non-standardization contact between two parties to sell or buy in the future. Curb-exchange and cash transaction are the feathers of forward contact. This essay will focus on two operational hedging techniques, market selection strategy and plant location......

Words: 2177 - Pages: 9

Operational Plan

...Manage Operational Plans | BSMMGT515A | TASK ONEDevelop an Operational PlanNKONDE SIMWANZA WAI00002EU | OFFICEMAX OfficeMax is one of the most leading retail shops in Australia. The company has a number of stores in around Australia that mainly specializes in selling office products. The products sold range from various departments but still cater for households and business of every size. We do provide customers with ways to shop in store where customers enjoy friendly expert advice and helpful services as well as online purchases through the company’s website. Figure 1.1 OfficeMax ORGANISATIONAL CHART Table 1.1: OfficeMax Consultation Strategy WHO TO CONSULT | REASON FOR CONSULTING(WHY) | WHAT TO CONSULT | METHORD OF CONSULTATION | Sales Manager | * Acts as the voice of the customer to the rest of the team /company | * Sales assessment * Market recognition to * identify new customers and prospects * Recruiting of new employees | * Meetings * Email conversations | Production Manager | * Give product demonstrations in Trade and analyzing investments in trade * Creates trends and puts value in them more than actual research. * A production manager assesses, oversees and selects projects under quality and specialization. | * Technological diversity * Product control method in order to improve how goods and services are being produced | * Group meetings * Focus groups | Marketing Manager | * Provides advice and......

Words: 6674 - Pages: 27

Operational Plan

...Operational Plan James Sweeney MGT 601 The Functions of Modern Management Professor Dr. Key Baron Smith July 13, 2015 For the purpose of this paper we are going to assume that the Strategic and Tactical Plans are aligned with the operational plan. The operational plan is then the implementation plan of the Strategic and Tactical plan that has been developed and approved by mid and upper management. The name of the company is Sweeney’s Medical Device Inc. and employees approximately 200 employees and has annual; sales of $90 million.. The company has one manufacturing facility that is located in the United States. The company produces and manufactures medical instruments that are affordable for the medical industry. The following is a brief review of the planning process, vision, mission statement and values of the company are as follows: For a brief review the operational plan can be defined as a plan prepared by a component of an organization that clearly defines actions it will take to support the strategic objectives and plans of upper management. However, to fully understand operational plans, we should first look at the overall planning process within a business. This diagram shows three levels of planning. Type of Plan | Created By | Scope | Includes | Level of Detail | Strategic plan | Top management | Entire organization | Mission of the company, future goals and ambitions | Very broad and general | Tactical plan | Mid-level management |......

Words: 6331 - Pages: 26

Operational Plan

...you must plan, monitor and review a case study relating to performance management of a team. Each team member will undertake a number of activities to manage the performance of one of the two employees. This will include management activities, such as developing work allocations, identifying KPIs, participating in several role-plays, undertaking performance reviews, and proposing a development plan for remedying poor performance by the Employee under your supervision. Finally, you will need to provide feedback to your assessment partner on performance during a role-play. Procedure 1. Review the Case Study – Housefriends Homewares (Appendix 1) or one supplied by your assessor 2. Complete the Operational Plan (Appendix 2). As the Store Manager you are to report your operational plan to head office to have the following completed by the extended trading deadline. 3. Read the profiles in this assessment. In pairs, adopt the role of Manager for that Employee (Marie or Tony). 4. Individually develop goals, KPIs and tasks for the Employee you have selected. Document these in the Employee’s Performance Management Plan (Appendix 3). 5. Prepare role-play notes to plan the topics you will discuss and outcomes you hope to achieve, these will assist you to keep the role-play meeting on track. Submit these with your documentation. 6. Conduct two one-on-one coaching role-plays (one with you as the Manager, one as your partner’s Employee). The Assessor will observe......

Words: 2804 - Pages: 12

Operational Risk

...The definition of operational risk by the Basel Committee on Banking Supervision is broad in conceptual terms, but also brief in its wording. If we accept that operational risk represents loss resulting from inadequate or failed internal processes, people and systems, or from external events, then to appreciate the amount of assumed exposure we must: • specify the people, processes and systems that are responsible for operational risk events; and • estimate the frequency and impact of these events as well as assign corresponding responsibilities. I fully agree with the principle advanced by The Geneva Association that everyone is accountable for operational risk. The challenge is to identify everyone’s accountability, bearing in mind that the operational risk definition includes people, processes, systems, and whole organizations. In the last analysis, companies are made up of people. Table 1 presents a list of what I believe to be the top dozen operational risks encountered in nearly every entity. The pattern shown in Figure 1 helps in appreciating that these operational risks can be grouped into three major categories: • the more classical, with legal risk being one of them; • the more modern, where the role of people is emphasized; • those which are technology- and systems-oriented. One more reference is needed to complete this introduction. The myriad of operational riskswhich formthe aforementioned 12 classes have neither the same frequency, nor the......

Words: 771 - Pages: 4

Operational Risk

...Operational Risk Key Term Operational Risk is the monetary risk that a corporation faces when people, processes, or system failures occur. The concept of operational risk is a constant in the workplace and has a major impact on decision making within the corporation. In my current workplace, we are considering a major change in workflow, and must measure the operational risk to the benefits of the proposed changes. Explanation of the Key Term Many factors must be considered when a change is proposed within an organization. Benefits and detriments must both be weighed in order to make the most informed decision; however, even after careful consideration, some decisions are poor. Operational risk must also include monetary damages that occur outside the realm of human decision-making, such as natural disasters or communication failures. Any action that causes a disruption to routine business operation is considered an operational risk. The more information used to calculate operational risk, the more complete and reliable picture is created for total risk evaluation (Mittnik, Paterlini, & Yener, 2014, p. 102). It is imperative to have accurate data to make quality decisions, and to create processes for predicted failures to minimize impact on the corporation. Major Article Summary Operational risk assessment should be a common, daily occurrence within an organization and should be implemented in every process in place. Corporations should implement an......

Words: 887 - Pages: 4

Bering Sea Gold S06E11 720p HDTV x264-BAJSKORV[ettv] | Ariana Grande ★ From 0 To 24 Years Old | 10 Pc / Lot Red Wooden Pencils Hb Pencil With Eraser Head Stationery For School'