Managing Corporate Risk and Crime

Assignment Brief

Managing Corporate Risk and Crime BUS 591

The main question to start with is A) Critical analysis and application of the concepts and principles of, the management of corporate risk to get this done perfectly, a critical analysis is required. Corporate risk management must be carefully addressed considering all the aspects stated in the assignment brief. This will allow you to address application of concepts and principles of management.

Assignment 1 BUS 591

Managing Corporate Risk and Crime BUS 591

Utilising a relevant business example of your own, apply the concepts and principles of the Management of Corporate Risk.

Following the critical analysis, formulate an operational risk management and implementation strategy for your business example.

This should be submitted in the form of a 3000-word report.     

Required:

1. Critical analysis and application of the concepts and principles of, the management of corporate risk. (30 marks)

2. Formulate an operational risk management and implementation strategy for your business example. (30 marks)

3. Discuss the rationale of your decision making and implementation strategy, referring back to the concepts and principles of, the management of corporate risk, where appropriate. (25 marks)

4. Communication and presentation. Use of academic and professional language. Correct use of Harvard Referencing. (15 Marks)

Sample Answer

Managing Corporate Risk and Crime

Introduction

Corporate risk management has become a central focus in modern business governance, particularly after global financial crises and high-profile corporate scandals. For organisations like Tesco plc, a leading multinational retailer, managing corporate risk is vital to maintain operational stability, legal compliance, and public trust. This essay critically analyses the main concepts and principles of managing corporate risk and applies them to Tesco. It further formulates an operational risk management and implementation strategy for Tesco, followed by a discussion of the rationale behind decision-making and strategic choices. The essay concludes with reflections on the importance of integrated risk management in modern corporate practice.

Critical Analysis and Application of the Concepts and Principles of Corporate Risk Management

The Concept of Corporate Risk

Corporate risk refers to the potential for losses or adverse outcomes that could threaten an organisation’s objectives, operations, or reputation (Hopkin, 2018). These risks may arise from internal or external sources such as market volatility, regulatory changes, cyber threats, or unethical conduct. Corporate risk management (CRM) therefore aims to identify, assess, and mitigate these risks through systematic approaches that align with business strategy.

In Tesco’s case, risks include operational disruptions, reputational damage, supply chain interruptions, regulatory fines, and data breaches. Tesco’s global presence increases its exposure to both market-specific and systemic risks, making the implementation of effective CRM essential.

Principles of Corporate Risk Management

The key principles of effective risk management are identification, assessment, control, and monitoring (ISO 31000:2018). According to the Institute of Risk Management (IRM, 2018), risk management must be integrated into all levels of corporate governance and decision-making. It should also be forward-looking, evidence-based, and adaptable to change.

For Tesco, risk management is embedded within its corporate governance framework. The company’s annual report highlights a structured approach that links strategic decision-making with risk awareness. Tesco’s Audit Committee regularly reviews principal risks, which include cyber security, data privacy, legal compliance, and food safety (Tesco Annual Report, 2023). This demonstrates the organisation’s commitment to proactive and strategic risk governance.

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