Discussion: Blue Wood Chocolates
1. What are the prospects and consequences for Blue Wood if it carries on the way it has been?
2. What are the main challenges in developing and implementing a risk management framework for Blue Wood? How does the ownership structure affect these challenges?
3. If the company is to develop a risk management framework, who should lead the process? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role for the Board in such a process?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.