CMI Unit 708: Strategic Risk Management by Assignment Experts UK

All About CMI Unit 708: Strategic Risk Management

CMI Unit 708: Strategic Risk Management challenges leaders to think beyond the traditional view of risk as something to be avoided. Instead, it positions risk as an essential part of organisational growth and transformation. This unit encourages managers to look at risk as a dynamic force that can reveal new markets, innovative practices, and competitive advantages if managed wisely. Learners are pushed to analyse the interconnected nature of global, economic, and technological risks, while also recognising how culture, leadership behaviour, and ethical choices influence risk responses. Unlike operational risk management, which deals with day-to-day issues, this unit focuses on shaping long-term resilience through foresight, scenario planning, and the integration of risk into strategic decision-making. By mastering these concepts, managers are better prepared not just to shield their organisations from harm but to turn uncertainty into a source of sustainable strength and opportunity.

Core expectations from learners

• Identify risks at different levels – organisational, departmental, project, and external environment.

• Evaluate risk appetite – showing how much risk an organisation is willing to accept to achieve growth.

• Apply structured frameworks – such as risk registers, heat maps, or scenario planning, to show evidence of clear management practice.

• Demonstrate governance awareness – showing how risk links with accountability, ethics, and regulatory standards.

• Balance threats and opportunities – proving that risk management is not only defensive but also a driver of innovation.

Why this matters in practice

The assignment is meant to show that managers can make risk part of daily decision-making, not just an annual compliance task. For example, you might show how digital transformation creates cybersecurity threats but also opens new revenue streams, or how climate change poses risks to supply chains but also pushes organisations towards sustainable solutions.

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Sample Answer of Unit 708

Task 1:

‘Strategies for managing risk’

Strategic risk within an organisational context

Introduction

Strategic risk, in an organisational setting, can be defined as the evaluation of risks that may pose a threat to the achievement of strategic objectives and sustainability (Khatib, Shehhi and Nuaimi, 2023). Nothing Technology Limited, a leading company in the technological sector, is a perfect example of the importance of risk management. As a multinational corporation, Nothing Technology Limited’s operations are inherently connected to strategic risk management. It is crucial to identify and analyse strategic risks and their effects on the company’s development to prevent or minimise their effects.

Scope of Risk

In Nothing Technology Limited, many risk categories require extensive management to maintain organisational stability and profitability.

Reputational Risk:

It includes the risks associated with product recalls, data loss, and damaging publicity. For instance, the battery gate, privacy invasion, and other similar issues can negatively affect the image of the company and reduce the level of trust among consumers (Khatib, Shehhi and Nuaimi, 2023).

Technological Risk:

It involves factors such as development, disruption, and functionality challenges. This includes cybersecurity threats, innovation cycles, and incidents such as data breaches, which can greatly affect the company and its technological advantage

Financial Risk:

It means risks associated with interest rates, exchange rates, and credit risks. Volatility in sales across the globe in currency values and the financial status of the suppliers are other financial threats that can affect the profitability and liquidity of the company.

By identifying and analysing the various types of risks that Nothing Technology Limited is exposed to, it will be easier for the company to prevent and control these risks

Current and Emerging Factors

Several current and future factors affect strategic risk in Nothing Technology Limited and these factors need to be addressed and managed appropriately.

Policy and Regulatory Changes:

It pertain to policies, laws, regulations, and standards that may be operational in the future and may impact Nothing Technology Limited and its operations, products, and services and therefore, these regulatory risks have to be identified, monitored, and managed to avoid future impacts (Ejiga et al. , 2024).

CSR and Sustainability:

In the case where these expectations are not attained, it can arise to negative repercussions like loss of reputation and monetarization (Iazzolino et al. , 2023).

The Resource Availability:

This threat poses a threat to the company’s HR as it may affect the chances of the company to meet its operational needs and strategic plans because firms’ human capital and assets can change (Ejiga et al. , 2024)

Market and Competitive Dynamics:

Customer needs, technology and competitors constantly evolve, hence such conditions call for timely and appropriate response in order to maintain competitive edge and av 상 Trends in customer needs, technology and competitors’ activities necessitate timely and appropriate responses in order to contain risks and maintain competitive advantage.

New Opportunities include development of newer technologies, new and expanding of the market, shifts in industries In Changes impact of Industries various present new Opportunities for the Nothing Technology Limited expansion to penetrate new markets and develop new products or services while Threats comprise of In Changes impact of Industries various put the overpowering threat to Nothing Technology limited to become obsolete if the Opportunities are not properly evaluated and managed to capture them while mitigating Threats.

In this way, Nothing Technology Limited can be aware of the current and future factors that influence strategic risks and opportunities and continue to be a dominant player in the global technology industry.

Impact of Organisational Context

The organisational context plays a crucial role in the strategic risk management of Nothing Technology Limited. as it determines its approach to risk identification, risk assessment, and risk mitigation.

Risk Management:

It is a part of Nothing Technology Limited’s Purpose and Governance, which outlines the company’s mission and decision-making frameworks. Risk management practices are shaped by board decisions and shareholder expectations.

Legal Status and Organisational Structure:

These aspects as a public multinational corporation define Nothing Technology Limited’s legal responsibilities and business practices affecting its risk profile and controls.

Current Processes, Policies, and Procedures:

These are the core of Nothing Technology Limited’s risk management framework and determine risk identification, risk assessment, and risk mitigation.

Organisational culture:

Company custom at Nothing Technology Limited is innovation-driven and secretive and impacts risk tolerance, communication, and organisational risk response (Moore et al., 2022)

The type and level of Organisational Maturity in different strategic business units and operational areas influence risk sensitivity, preparedness, and response throughout Nothing Technology Limited’s operations. The risk environment outside Nothing Technology Limited includes economic conditions, political stability, and social trends, which influence the risk management process (Shakatreh, Rumman and Mugableh, 2023).

Customer, investor, and regulatory body pressure and expectations shape Nothing Technology Limited’s risk management strategy and actions, emphasising the role of stakeholders in risk management (Moore et al., 2022).

Conclusion

In conclusion, strategic risk in Nothing Technology Limited includes various factors such as reputational risk, technological risk, and regulatory risks. It is therefore important to understand the organisational environment to identify risks and opportunities and develop strategies to manage them. As Nothing Technology Limited moves forward into new markets and faces new challenges, it will be crucial to have a strong understanding of strategic risks and how to manage them effectively to continue growing and remaining competitive (Shakatreh, Rumman and Mugableh, 2023).

Strategies for managing risk in an organisational context 

Introduction

Risk management is a critical process that takes place in any organisation and it is characterised as the examination of risks and methods applied to minimise them. This is a real-life example of proper management of risks Corporation is a company specialized in technology and it proves that no company operating in this field can succeed in the long run if it does not implement proper management of risks. Therefore, in order to conduct a SWOT analysis of Nothing Technology Limited, it is important to view it as one of the most significant players on the market and determine the potential threats it might face (Al-Hawamdeh, Al-Majali and Toma, 2023).

Risk Register Management

Overal, it was established that effective management of the risk register is central to operational success and sustainability of the business for Nothing Technology Limited.

Risk Prioritisation:

It is the procedure of evaluating the risks and profiling them based on the degree of risk and the likelihood of being a risk. With this, Nothing Technology Limited is afforded the opportunity to assess the risks and focus on dealing with them in an order that tends to prioritize them to make sure that they reduce the impact posed by a particular risk in their organization.Risk Escalation:

It guarantees that significant risks are reported to the management as soon as possible for action and decision-making. This helps in the quick and effective handling of threats that may arise and reduces the impact that may be caused (van Raalte, Wallis and Pekalski, 2023).

Continued...