Business Risk Management Corporate Managerial Responsibilty

Question: Discuss about the Business Risk Management for Corporate Managerial Responsibilty. Answer: Introduction: In business,risk can arise any time, so we can say it is the risk that will result in lower profits than expected or it can also result in having a loss rather than gains. It can be due to many factors like more stiff competition, higher cost of products, less productivity and impose of other regulations by government, new entry in the market,ups and downs of currency rates. Cable Wireless Worldwide was the British global telecommunication company, the risk associated can be change of the taste of the consumers and they can easily switch to other companies with regard to their change,more restrictions from the government, any of the services provided by the company could be obsolete and would result in loss, and majorly it could be any circumstances which would arise because of unforeseen conditions. It could be broken in to inside risks (events taking place within the organisation) and exterior risks (events happening outside the organisation)(Frank, 2008). Corporate Governance It is said to be an arrangement of rules and regulations and it set for companies and it also makes sure that companies follow it to generate more transperency. It takes in to consideration all the interests of the shareholders, investors, and other persons forming a part of the company. It can be said as an methodwhich reduces principle agent difficulty in a business. It is organised by the Board of directors and it provides a sense of balance and helps in achieving all the political monetary and social goals. The goal is to see that the individual performance is according to the benchmark performance(Young, 2003). Cable and wireless has immenselyenhanced the confidence in investors and included good corporate governance policy in the business to make it more effective. They are also making a difference through good education, sports, good effective culture etc.They take care of their stakeholders which forms the essential part of the company and through that capital can be raised more violently. The company has done a good job in minimising risks through good governance. People Accountablefor thr Crisis of Above Topics: The persons who will be responsible for the failure of business and the risks associated with it will be the operations management team, who are closely noticing and monitoring all the operations of the business that is taking care of the cost of the product, the profit margin,the marketing team who is taking care of the promotions (Steverson Alfino, 1997)Failure of good governance can be reduce by having a good and effective Board of directors.They are only responsible for making good governance policies(Teo, 2016). References FRANCK,C J . (2008).Business Risk Management. Retrieved 2 September 2016, from https://aiu.edu/publications/student/english/Business%20Risk%20Management.html Young, B. (2003).Corporate Governance and Firm Performance: Is There a Relationship?. Retrieved 2 September 2016, from https://iveybusinessjournal.com/publication/corporate-governance-and-firm-performance-is-there-a-relationship/ Teo, J. (2009). The failure of good governance :How it lead to the financial crisis. Retrieved 2 September 2016, from https://www.tbl.com.pk/the-failure-of-good-governance/ Alfino,M.(1997). Business Failure and Corporate Managerial Responsibilty. Retrieved 2 September,from https://guweb2.gonzaga.edu/faculty/alfino/dossier/presentations/97_SBE_Business_Failure_and_Corporate_Managerial_Responsibility.htm