A S S IG NME NT A

608-MANAGING RISK IN BUS INESS

Submitted to
London Regal College
For

As Part of Partial Fulfillment for the award of degree

Level-6 Extended Diploma in Business and

Administrative Management

OCTOBER 2013

Word Count: 3,483

EXECUT IVE SUMMARY:

Business and risk are very closely related and the successes of Abingdon and Witney
College organization usually depend on the proper management of the risk. The strong
framework regarding the risk of the organization can provide a systematic procedure of
success. The process of risk has strong impacts on Abingdon and Witney College
function and the elements of Abingdon and Witney College functions are very much
influenced by it. A proper evaluation approach of the risk management of the
organization provides a clear concept about the future of Abingdon and Witney College.
From the research, it was found that the drivers of the risk are elements of our life or
environment. The impact of the different types of risk is very much co-related with the
performance of Abingdon and Witney College. Risk can be converting in both positive
as well negative. For the negative impact, the organization needs to implement a strong
process of management of risk.

TABLE OF CO NTENTS
1.0 Introduction: ........................................................................................................................1
2.0 Risk management of Abingdon and Witney College ........................................................1
3.0 Framework of risk management of Abingdon and Witney College .................................2
4.0 The procedure of affecting to functions of Abingdon and Witney College in risk
management:.............................................................................................................................4
5.0 Evaluation of Methods of assessing risk in of Abingdon and Witney College ...............5
6.0 Drivers of business risk at Abingdon and Witney College ...............................................5
6.2 Analysis of impacts of the different types of risk at Abingdon and Witney College .......................... 6
6.3 Analysis of severity of risk at of Abingdon and Witney College........................................................ 8
7.0 The responsibility for the mangement of risks sits within Abingdon and Witney
College :.....................................................................................................................................8
7.1 The Role of Contigency Planning for managing the risks ................................................................. 9
8.0 Approaches to crisis management of Abingdon and Witney College ...........................10
9.0 Analysis the impacts of business breaks at Abingdon and Witney College.................11
10.0 Conclusion: .....................................................................................................................12
References: .............................................................................................................................13
Bibliography: ...........................................................................................................................14

1.0 INTRODUCTION:
The report has been prepared by an Administrative Manager of a new faculty for a large
further Education College. For this report the further education college is Abingdon and
Witney College. Abingdon and Witney College is based in Abingdon, Oxfordshire,
England. It was formed in 2001 after the mergers of Abingdon College and West
Oxfordshire College.
Risk management process of the organization includes a systematic way to manage its
risk and reach the apex of the success (Haddow,2009) . In this part of report, the author
has discussed the risk management process of the organization and framework of the
risk management. Moreover the author mentions the various approaches of the risk
management in the organization and its impact of activates of Abingdon and Witney
College. At the last stage of the assignment, the author has insured the approaches of
the evaluation process of risk management process.
Business environment has changed in a very rapid speed and the element of the
environment has also changed according with the time. The process of risk is rising
from those processes. In this part of the report, the author has discussed the drivers of
Abingdon and Witney College risk and impacts of those to Abingdon and Witney
College performance. Moreover crisis management strategies of Abingdon and Witney
College organization has discussed in the next art of the report. In the final part of the
report, business breaks in discussed.

2.0 RISK MANAGEMENT OF ABINGDON AND WITNEY COLLEGE

Risk management is a process of identification, analysis, assessment, minimize
unacceptable risk of Abingdon and Witney College (Kendrick,T., 2010). The process of
the risk management is s systematic way of managing risk of Abingdon and Witney
College organization according to the capability of taking risk of Abingdon and Witney
College. The success of Abingdon and Witney College depends on the risk
management capability of the management of that particular business. It is very
common matter that risk is associated with the profit. The management process of risk
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provides importance on the acceptable risk of Abingdon and Witney College and
minimizes risk of the organization.

3.0 FRAMEWORK OF RISK MANAGEMENT OF ABINGDON AND WITN EY

COLLEGE
The process of risk managing within Abingdon and Witney College and systematic
approaches of the process is called risk management (Rejda, E., 2010). The way of risk
management certainly follows some specific process and those are given below:

Figure: Risk Management Framework of Abingdon and Witney College

Source: Linkedin.com/blog
3.2.1Categorize: The stage of the categories includes the systematic categories of the
information for the risk analysis. The process of the categorical information includes
various categories of those information.

3.2.2 Selection: The selection process of the security control of the system of risk
management frame work provides importance on the security of the risk. The high class
of risk is required high return security.
3.2.3 Implement: The process of implement of the risk management process includes
the controlling as well as manages within the operational activities of Abingdon and
Witney College. The system of risk management provides enough important on this
area.
3.2.4 Access: The system of the organization includes the system to introduce
appropriate system to the risk management system for the management of the risk
project.
Authorize: The process includes the measurement of the impact of the risk on the
asset of the organization (Haddow, G., 2009). It will determine its ultimate effect on the
activities of the organization and its related matter.
3.2.5 Monitor: Monitor system of the risk management framework includes monitoring
of the security system on the basis of the various aspects of the organization as well as
its operational categories.
A proper evaluation approach of the risk management of the organization provides a
clear concept about the future of Abingdon and Witney College. From the research, it
was found that the drivers of the risk are elements of our life or environment. The
impact of the different types of risk is very much co-related with the performance of
Abingdon and Witney College. Risk can be converting in both positive as well negative.

4.0 THE PROCEDURE OF AFF ECTING TO FUNCTIONS OF ABINGDON AND

WITNEY COLLEGE IN RISK MANAGEMENT:
The activities of business functions include routine work of the organization to achieve
organizational goals (Bernstein, L., 1998). Here the activities of Abingdon and Witney
College functions are always influencing by the risk management process. The
procedure of affecting of Abingdon and Witney College function is given below:
4.3.1 Profit variation: The process of risk management insures the variation of the
profit of Abingdon and Witney College organization in business (Hubbard and Douglas,
2009). The profitability of Abingdon and Witney College depends on the risk taking
ability of it. The actual scenario of Abingdon and Witney College insures either higher
profit or lower profit.
4.3.2 Changing working plan: The process of risk management can change working
plan of Abingdon and Witney College. According to the organizational capability in the
risk management process, it differs from organization to organization. So the plan of
Abingdon and Witney College can change by risk management process.
4.3.3 Effect on market position: The process of risk management has a great effect
on market position of Abingdon and Witney College. The process can make either
higher position of Abingdon and Witney College in the market or very law position of the
market. The process of risk management has influenced business activities in different
ways.
4.3.4 Risk management effects on operational approaches: The process of risk
management has affected the operational procedure of Abingdon and Witney College
organization (Bernstein, L., 1998). Here the process indicates that Abingdon and Witney
College will manage its risk. Actually the process can reduce the production of the
organization. The usual activities of Abingdon and Witney College organization can be
hampered in great way.

5.0 EVALUATION OF METHODS OF ASSESSING RISK IN OF ABINGDON

AND WITNEY COLLEGE
The evaluation of methods of the risk assessing of Abingdon and Witney College
provides a clear indicators of the methods process result (Kotler, P., et al, 2012). The
evaluations of the methods of Abingdon and Witney College risk are given below:

Usually there are various categorical risk related with different dimension of
Abingdon and Witney College organization like industry risk, financial risk,
sustainable risk and so on. As a result, Abingdon and Witney College
organization can identify it's all risk.

The evaluations of the methods of the assessing risk in Abingdon and Witney
College organization insure problem identification of Abingdon and Witney
College problem.

The process of evaluations minimizes business risk and insures the growth of
Abingdon and Witney College.

Evaluation process helps Abingdon and Witney College to gather its position in
the market place.

6.0 DRIVERS OF BUSINESS RISK AT ABINGDON AND WITN EY COLLEGE

Business risk arises from some drivers which are intimately related with Abingdon and
Witney College activates. The pattern of Abingdon and Witney College as well as
success of Abingdon and Witney College organization depends on the risk
management process of Abingdon and Witney College. Business success depends on
the risk management ability of Abingdon and Witney College (Bernstein, 1998). Here
the most successful business will insure proper management of the risk in the activities
of it. Here I have described the drivers of Abingdon and Witney College risk of Apple
Inc.
6.1.1 Technological factors as risk driver: Technological elements create great risk
for the activities of the organization. Actually the products list of the Apple Inc mainly
includes technological base products. The change of the technological elements can
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make Abingdon and Witney College very out dated. The main driver of the risk of this
organization is technological instrument and innovation.
6.1.2 Human factor as risk driver: Human factor is a very crucial element of the risk
drivers of Abingdon and Witney College organization. The nature of the human is very
much changing in every moment. They change products very frequently and test of
them are changing rapidly also (Bernstein, 1998).. As a result, Apple Inc faces the
human factor base risk in the organization.
6.1.3 Economical factor as risk driver: The capital of Abingdon and Witney College
organization creates a great risk for that particular organization. Here the risk of the
capital factor base of Apple Inc includes risks which are generated from economic factor
of organization. Apple Inc is a multinational organization but sometimes it also faces the
economic factor risk in the market place.
6.1.4 Marketing factor as risk driver: Marketing factors of Abingdon and Witney
College organization includes introducing ways of the products to the people. It process
of Abingdon and Witney College organization can create a problem for Abingdon and
Witney College organization (Bernstein, 1998). Mainly it is very acute in the
technological base organization like Apple Inc. Proper ways of marketing of the
products of the organization has mentioned it position in the height position. But at the
same way, failure in the proper marketing activities can damage Abingdon and Witney
College success in the lowest position.
6.2 ANALYSIS OF IMPACTS OF THE DIFFERENT TYPES OF RISK AT ABINGDON AND
WITNEY COLLEGE

The impacts of the different types of risk to Abingdon and Witney College organization
are huge. Mainly those processes of the risk can insure their impact on the different
aspects of Abingdon and Witney College organization. Moreover risk of Abingdon and
Witney College to the organization to its culture is very high. Those impacts are given
below:

6.2.1 Reduce profit: Business loss its profitability for the risk and usually sales revenue
of Abingdon and Witney College also decrease for it (Dorfman and Mark, 2007).
Moreover the profit of Abingdon and Witney College depends on the various factors and
those factors are highly related to the risk. Apple Inc has also these types of risk in the
matter of profitability of this organization. In the most time, the organization manages a
format approach to manage its risk.
6.2.2 Increase employees' turnover: The risk of Abingdon and Witney College
organization increase employees' turnover of the organization. Actually the employees
of the organization want a safe place where they get the safety of their jobs. But in the
time of Abingdon and Witney College risk, the employees of Abingdon and Witney
College like Apple Inc suffer from job safety. As a result turnover rates among them
increase in a great number.
6.2.3 Decrease business growth: Abingdon and Witney College growth of the
organization is highly affected by the risk process of the organization. Usually business
growth depends on the risk management ability of the organization. But the more and
more of Abingdon and Witney College risk greatly reduce the organizational high
growth. Apple also faced those problems in some years ago.
6.2.4 Hamper business position: Business position in the customers mind is very
important for Abingdon and Witney College organization. The process of risk in
Abingdon and Witney College organization certainly will reduce its position in the
consumers mind. Actually they may loss the loyalty of them to the consumers. So the
position of Abingdon and Witney College organization is greatly hampered by the risk
process.

6.3 ANALYSIS OF SEVERITY OF RISK AT OF ABINGDON AND WITNEY COLLEGE

The process of risk has great severity of Abingdon and Witney College organization
(Haddow, 2009). Severity usually reduces business profit as well as business position in
the market. Moreover Abingdon and Witney College organization can be totally
bankrupt for this process. The authority of the organization can insure from this ways of
risk.
6.3.2 Likelihood of the risk: The process of risk can be a very positive for Abingdon
and Witney College organization in usual ways. The organization can use risk as a
positive chance to gain the top position in the market. Usually it is very important for
Abingdon and Witney College organization to takes this types of step to insure the
position in market place.

7.0 THE RESPONSIBILITY F OR THE MANGEMENT OF RISKS SITS WITHIN

ABINGDON AND WITNEY COLLEGE :
Risk management approaches of Abingdon and Witney College can evaluate from
different outlooks and those are:

This process of the risk management insures the identification of Abingdon and
Witney College risk of the organization to solve Abingdon and Witney College
risk in the particular situation.

In the risk management approaches, the manager of the organization can easily
identify Abingdon and Witney College risk, and insure possible solutions for the
process. As a result the problem of the organization solves with proper care of
the process.

The weakness of Abingdon and Witney College can identify and become solve
which can insure business success.

The risk of Abingdon and Witney College organization must be solving by the
process.

The organization can minimize its risk by the process of risk management of the
organization.
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7.1 THE ROLE OF CONTIGENCY PLANNING FOR MANAGING THE RISKS

Risk management strategies of Abingdon and Witney College organization can reduce
risk of Abingdon and Witney College and insure Abingdon and Witney College profit.
Here every organization can takes their proposal strategies according to their own
management decision. Here I have suggested a strategy for the risk management
process. Those strategies are given below:
7.1.1 Identify the risk of business organization: The first and foremost approach of
the risk management of Abingdon and Witney College is to identify the risk of the
organization. Abingdon and Witney College can have different types of risk and the
identification process will insure the risk of the organization. Apple Inc will identify their
risk in the market place.

Figure: Risk Management Process at Abingdon and Witney College

7.1.2 Analysis of the risk:

The n Abingdon and Witney College organization will

analysis the risk related with various department of Abingdon and Witney College
organization. The level of the risk gets importance in the time of the management of the
organization.

7.1.3 Map of the risk of the organization: In the process of the risk management,
organization will insure a map of the risk and the related sectors of the risk. Actually
depth of the risk largely depends on the length of the risk process. The process of
solutions must map the risk.
7.1.4 Resolve the risk: At this stage of the risk management, the organization will
determine the risk in the basis of his organization. The risk without profit will not allow in
the time. Basically Apple Inc has taken various risks in different time. But the return of
the risk was very high.
7.1.5 Monitor the risk: Abingdon and Witney College organization will should monitor
the risk of it and insure its impact in the organization. Basically the organization will take
risk only it will insure that there can be a very good outcome and will insure business
position.
The process of risk has great severity of Abingdon and Witney College organization
(Haddow, G., 2009). Severity usually reduces business profit as well as business
position in the market. Moreover Abingdon and Witney College organization can be
totally bankrupt for this process. The authority of the organization can insure from this
ways of risk.

8.0 APPROACHES TO CRISIS MANAGEMENT OF ABINGDON AND WITNEY

COLLEGE
Crisis management is a process of identifying of Abingdon and Witney College threats
and essential process of managing of those threats of the organization (Haddow, G.,
2009). There are several ways to manage crisis management of Abingdon and Witney
College organization. Those ways are given below:
8.1.1 Identify the potential threats of Abingdon and Witney College: The first and
foremost step of the crisis management is identifying the potential threats of Abingdon
and Witney College organization. The authority of Abingdon and Witney College will be
prepared for any situation in any time. Like other organizations, Apple has a crisis
management team

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8.1.2 Clear the principle for crisis management: The organization will insure some
certain principle for the crisis management. Actually the process of Abingdon and
Witney College is called principle managing approach. It must insure some principle for
crisis management.
8.1.3 Mention the key process of management: The management of Abingdon and
Witney College organizations will mention some key process of the crisis management
in the organization. Here the process of crisis management of Apple Inc insures
different types of system.
8.1.4 Team for the procedure: At this stage of the crisis management, the authority will
insure a team who will face the problem. The special skilled people will get importance
for the team.
8.1.5 Insure possible action and solve crisis: At the last stage of the crisis
management process, essential steps will insure to solve crisis of the organization.
There are different ways to meet crisis of Abingdon and Witney College organization
and the organization will must chose best possible options for them like Apple Inc.

9.0 ANALYSIS THE IMPACTS OF BUSINESS BREAKS AT ABINGDON AND

WITNEY COLLEGE
Business break has negative impacts on Abingdon and Witney College performance
(Crockford and Neil, 1986). Actually the process of Abingdon and Witney College
breaks of any particular organization like Apple Inc or others face unadjusted problem
with market. The organization cannot insure proper communication with the consumers
of the organization. Moreover the customers of the organization move to another
organization. Abingdon and Witney College loss its usual position in Abingdon and
Witney College market and the brand value of Abingdon and Witney College decrease
to a great extent. So the breaks of business organization minimize it potentialities in the
market place.

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10.0 CONCLUSION:
Business can faces risk from the different reasons and the different drivers of Abingdon
and Witney College influence the risk process of it. Risk has great impact to the
organization growth. But the process of management of risk can insure Abingdon and
Witney College development from the risk process of it. Sometimes business faces
crisis and a proper ways of the crisis management can reduce Abingdon and Witney
College conflict about the future risk of it.
The strong framework regarding the risk of the organization can provide a systematic
procedure of success. The process of risk has strong impacts on Abingdon and Witney
College function and the elements of Abingdon and Witney College functions are very
much influenced by it. A proper evaluation approach of the risk management of the
organization provides a clear concept about the future of Abingdon and Witney College.
The drivers of the risk are elements of our life or environment.

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>

[Accessed on 05-10-13].
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BIBLIOGRAPHY:
Crockford, Neil (1986). An Introduction to Risk Management (2 ed.). Cambridge, UK:
Woodhead-Faulkner. p. 18. ISBN 0-85941-332-2.
Dorfman, Mark S. (2007). Introduction to Risk Management and Insurance (9 ed.).
Englewood Cliffs, N.J: Prentice Hall. ISBN 0-13-224227-3.
Haddow, G.,2009. Emergency management. 4th Edition. New Work. Sage international
publication.
Hubbard, Douglas (2009). The Failure of Risk Management: Why It's Broken and How
to Fix It. John Wiley & Sons. p. 46.
Kendrick, T., 2009. Indentifying project risk. 4th Edition. London. Pitman Publishing.
Kotler, P, Armostron, G, Agnihotri,Y, Huque,E., (2012). Principles of Marketing. 13th
European Edition.Prentice Hall. Person education.
Rejda, E.,2010. Principle of risk management. 7th Edition. London. Person international
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