The HR department plays a critical role in risk management strategy, education, and mitigation. When a risk situation has arisen within an organization, the HRdepartment must respond and take action.
Imagine that you have just been hired as an HR manager for a large corporation (fictitious or real). The executive team is worried about potential organizational risks within the company. They have asked you to create a risk management plan to mitigate organizational risk.
Prepare: Read the following Executive Summary by Ernst and Young Business Pulse 2013 The Ernst and Young report identifies the top risks and opportunities for executives to consider for their strategic plans. This report discusses many influences on business practices, such as society, culture, politics, health, safety and security.
http://www.ey.com/Publication/vwLUAssets/Business_Pulse_-_top_10_risks_and_opportunities/$FILE/Business%20pulse%202013.pdf3. Executive Summary Project
Phase I: Imagine your company is planning and strategizing for the future and that you have been asked by the executive team to brief them on the state of the risks and opportunities in the industry. Prepare a 2- to 3-page analysis of the Executive Summary by Ernst and Young Business Pulse 2013 and other research. Your analysis will help the top executives create a comprehensive strategic plan that includes risks and opportunities that could impact employees and other stakeholders. Make sure your paper clearly addresses the following questions:
- What are the top legal, safety, environmental, and financial risks and opportunities identified?
- What situations are influenced by society, culture, politics, health, safety and security? Connect to Federal and State laws when appropriate.
- In the global market, what are challenges businesses face when identifying risk for forecasting?
This assignment covers the following areas and objectives:
- Ethical and Legal Risks
- Potential Impact
- Trends
- Employment Laws