Homework: Enterprise Risk Management
Read the chapter and pay careful attention to Appendix A: JAA Inc. Financial Statements and Appendix B: Risk Management Policy. Use this information to help you answer the following questions:
I. As you are aware, effective implementation of ISO 31000 involves effective design and implementation of a risk management framework and effective implementation of the risk management processes. This will be verified by incorporation of 11 key principles. Find an example in the case for each of the 11 principles in action.
II. What characteristics do you see in the board of directors that lend themselves to a strong tone at the top and a culture that fully embraces risk management?
III. What is the linkage at JAA between the strategic objectives, context, stakeholders, and risk criteria? Support your comments with specific examples of the link in these four areas.
IV. In many companies, it is typical for internal audit to itself perform a risk assessment which it will use for audit planning and execution purposes. Do you have any thoughts on what you see as the pitfalls in this? What is the ideal situation in a company?
V. How would the board of directors measure the success of their risk management?
Discussion Post: Global Economy
When looking at complexity in policy-making, chapter 4 has provided an illustration to offer insights to future business leaders to understand that, despite the inherent unpredictability of environments, organisms survive and develop intricate webs of interdependence in terms of their ecologies due to the adaptive capacities of organisms that allow them to self-organize.
Chapter 4: Q1: According to the author's assessment, what's the importance of this scenario to the policy-making process? Briefly explain.
Identify the importance of that scenario
Provide a short and clear narrative to support your response above,
Chapter 5, Figure 5.1 is an illustration of the future state of practice of systems modeling and simulation. With this mind, the adoption of recent, current and expected innovations could result in the future of the art of systems modeling. From this illustration, we have learned that it would be possible to simultaneously use multiple hypotheses to achieve different goals that could include the search for deeper understanding and policy insights, experimentations in virtual laboratories, future oriented-explorations, robust policy design, and robustness testing under deep uncertainty.
From the assessment by the authors, what are the main advantages of using multiple models? Briefly explain.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
Text Books:
1. Public Administration and Information Technology- Integrating Complex Systems, Social Simulation and Public Administration in Policy Research by Marijn Janssen, Maria A.Wimmer and Ameneh Deljoo, Volume 10.
2. IMPLEMENTING ENTERPRISE RISK MANAGEMENT- Case Studies and Best Practices by John R.S. Fraser, Betty J. Simkins and Kristina Narvaez.