Risk Intelligence Challenge 2017 | Introduction

Risk Intelligence Challenge 2017

Information Session
January 2017

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Risk Intelligence Challenge 2017 | Introduction

Introduction

Introduction 1
Deloitte at a glance 2
Risk Advisory 3
Risk Intelligence Challenge 2017 4
Competition Details 6
Contacts 10

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Risk Intelligence Challenge 2017 | Deloitte at a glance

Deloitte at a glance
About Deloitte
Deloitte drives progress. Our firms around the world helps clients become
leaders wherever they choose to compete. Deloitte invests in outstanding
people of diverse talents and backgrounds and empowers them to achieve
more that they could elsewhere. Our work combines advice with action and
integrity. Deloitte provides audit, consulting, financial advisory, risk
management, tax and related services to public and private clients spanning
multiple industries.

Deloitte Southeast Asia practices operating in Brunei, Cambodia, Guam,

Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand
and Vietnam have joined together to form Deloitte Southeast Asia. As trade
borders dissolve and the world globalises, Deloitte member firms’ clients
are demanding consistent and high quality service across borders.
Comprising over 290 partners and 7,400 professionals in 25 office locations,
this collaboration enables our professionals to use their combined size, scale
and expertise to offer greater breadth and depth of service to our clients
across the region.

Deloitte’s Global Revenue FY2016

In FY2016, Deloitte reported aggregate network revenue of US$36.8 billion
for the fiscal year ended 31 May 2016 (FY2016), representing 9.5 percent
growth in local currency terms.

Deloitte’s commitment to making positive change in the world is reflected

not only in its client work, but also in local projects that work towards
solving challenging societal and community issues. For example, in FY2016,
Deloitte practitioners spent more than 1.3 million hours engaged in pro
bono projects and volunteerism. The Deloitte network further contributed
more than US$75M in financial contributions to not-for-profit organizations.
In all, these contributions are estimated to exceed more than US$225M.

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Risk Intelligence Challenge 2017 | Risk Advisory

Risk Advisory
Risk Intelligence is our global message and strategy to help organizations
recognize the need for more effective risk management. Risk Intelligence is
an aspirational state defined by this insight - Enterprises that effectively
manage risk to both future growth and existing assets will, in the long run,
outperform those that do not.
“Deloitte is building risk solutions that
The Risk Intelligence Program Methodology applies our nine fundamental incorporate dashboard systems and is
principles for building a risk intelligent enterprise. It is a holistic and
unifying approach for building an effective and efficient risk management supporting the standardization of terms,
program. It is also scalable to transform an organisation’s risk management metrics, reporting, and operational
capabilities.
charters across risk management silos.
Our enterprise risk services include It sees the need to educate the board of

• Business continuity and crisis management services directors as critical to evolving risk

solutions and is using tools such as the

• Business process improvement and internal audit services
Risk Map to facilitate that process.”*
• Data analytics
* Source: Kennedy Information; “Risk
Management Consulting Marketplace
• Enterprise risk management services 2009-2012”; © BNA Subsidiaries, LLC;
reproduced under license
• Information risk management services

• IT governance services

• Risk management technology implementation services

• Security, privacy and resilience services

Our enterprise risk professionals are able to assist organizations understand

and manage risks across the enterprise. This includes risks at the business
unit, process, technology and data levels as well as risk areas such as
strategy, regulatory and reputation.

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Risk Intelligence Challenge 2017 | Risk Intelligence Challenge 2017

ASEAN Risk Intelligence Challenge 2016 Top 5 Teams

Risk Intelligence
Challenge 2017
The Risk Intelligence Challenge is an inaugural competition held by Deloitte
that aims to nurture entrepreneurial efforts while promoting risk
management in the business economy. In its fourth year running, the final
round of the ASEAN RIC concluded on 29th July sponsored by Institute of
Singapore Chartered Accountants (ISCA) House of Singapore. The novel
theme last year, ‘Start-up, Risk and You’ focused on entrepreneurship and
encouraged students to think creatively in their start-up thoughts. The
competition saw the application and participation of 100 over
undergraduates from the local universities in Singapore. Similar
competitions are held in Indonesia, Malaysia, Philippines and Thailand
annually.

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Risk Intelligence Challenge 2017 | Risk Intelligence Challenge 2017

Singapore Risk Intelligence Challenge 2017

Risk Intelligence Challenge(RIC) 2017 is back! RIC 2017 is an inter-
university competition with the intention to develop the next generation of
entrepreneurial and risk-inclined individuals. This competition invities
participants who have great business minds and wish to deliver their fresh
insights to the world of innovation and risk management! Participants will
be required to form teams of 4 and develop a 3-5 page submission on the
given case question.

RIC Competition Structure

Preliminary
Semi-finals
Round Finals
Case
Submission ASEAN Pitch
Presentation
of Proposals

Focus on Start-ups

What is the right way to build a startup? There is no hard and fast rule but
we want our participants to validate their hint of success before putting
serious capital to work. Any aspiring entrepreneur should be looking at what
consumers are paying for today, the history underlying the monetization of
that idea, how to acquire a market share over consumers’ lifetimes and
more. Defining a market problem that they believe can be solved or needs
improvement, researching on the market and existing business models, we
hope to instil these aptitudes to help prepare themselves to make informed
and better decisions as they move into the start-up scene.

Coupled with risk management skills, our Risk Intelligence Challenge (RIC)
does something different for the dimension of contingency. It spurs
students to think limitlessly and venture into possibilities through risk
management. This competition provides great exposure and experience to
the working world and aid students in acquiring valuable problem solving
skills. In RIC, we show that real prospect, business or life, is all about risks.
It is how you play the hand, anticipate crisis and invest in vigilance that
matters. The design of risk-sensing paves way for endless opportunities. We
want our participants to imagine likelihoods, foresee and resolve difficult
situations in the business world.

Deloitte Risk Advisory believes in not only to infuse skillsets but also, to
bring to pass an age of risk inclined, intelligent individuals.

Do visit our RIC Facebook Page for more information and pictures!

www.facebook.com/RiskIntelligenceChallenge

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Risk Intelligence Challenge 2017 | Competition Details

Competition Details
Case Question

Mobile, analytics, social media, cloud computing and big data, these new
technology enablers and disruptors are changing the way businesses work.
What lessons can you learn from start-ups in creating business value and
stay ahead of your game?

Choose ONE of the case studies listed below and identify specific market
challenges (based on their reputation, regulatory and technological
landscape) concerning these start-ups presently. Provide insights on
strategic and innovation decisions that could potentially benefit these
businesses to be resilient through these challenges and improve on their
successes.

Information of recommended start-ups for teams

Think Far, Win Big

Airbnb

Recently valued at $13 billion, Airbnb is an alternative solution for short-

term home renters worldwide and become the primary marketplace that
offers a large range of accommodations globally. In Barcelona, one of
Airbnb’s top five cities in the world, the volume of annual travellers who
used the company reached about 900,000 since 2008.

Despite the tremendous success, the company had met several debts
before turning those into profits. In 2009, Airbnb had insufficient funds
for the company’s survival and risked bankruptcy. While this was
subsequently rectified through improving its aesthetic presentation and
brand, this served as an imperative reminder for its founders in
complement creativity and art to their product’s appeal.

Airbnb has also provoked regulation deliberations that are commonly

faced by stakeholders in the sharing economy regarding housing
protocols and protection of both hosts and consumers’ interests. Such
circumstances remain as obstacles for Airbnb to overcome. As a small-
scale experiment in ‘airbed-surfing’ in its initial stages, Airbnb has come a
long way in the marketplace for accommodations but would still need to
respond to rising real-time demands.

References

Oskam, J. (2016), " Airbnb: the future of networked hospitality businesses ",
Journal of Tourism Futures Vol. 2 Iss 1 pp. 22 - 42

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Risk Intelligence Challenge 2017 | Competition Details

Kerr, D. (2015, July 14). San Francisco tightens 'Airbnb law' with new amendment.
Retrieved from CNET: https://www.cnet.com/news/san-francisco-board-of-
supervisors-vote-on-airbnb/

Schneiderman, E. T. (2014). Airbnb in the city. New York: New York State Office of
the Attorney General.

Uber

Uber, a ride sharing platform founded in 2009, is currently one of the

world’s most valuable private start-up. Uber provides connection between
smartphone users through peer-to-peer transactions and has
transformed into one of the significant disruptors in taxicabs and car
service companies. Their transportation network service has expanded
over 66 countries across the globe with many other companies trying to
replicate its business model, a trend known as ‘Uberification’.

However, just last year, Uber had been plagued by negative media
coverage as drivers had begun to congregate in several cities such as
San Francisco and New York to advocate for higher minimum wage. While
certain settlements and programs have been put into place, these
unionization issues have cast a shadow over Uber’s image and business.

The taxi service has met with several regulatory concerns with criticisms
on the company’s employees and culture, holding their reputation at risk.
Together with controversies dating back to 2014, Uber’s public image had
been taken a hit with lawsuits, privacy data and safety issues. While the
start-up has certainly taken a permanent seat in the private transport
industry presently, recent increase of market share from competitors
such as Grab and Lyft indicates much to learn for Uber.

References

Fiegerman, S. (2016, November 28). Uber drivers to join protest for $15 minimum
wage. Retrieved from CNN:
http://money.cnn.com/2016/11/28/technology/uber-drivers-minimum-
wage-protest/

Monks, K. (2015, October 1). Can a company succeed with a toxic reputation?
Retrieved from CNN:
http://edition.cnn.com/2014/12/01/business/success-toxic-rep/

Rogers, B. (2015). The Social Costs of Uber. Retrieved from The University of
Chicago Law Review: https://lawreview.uchicago.edu/page/social-costs-
uber

The Economist. (2014, November 22). Uber risks a consumer backlash over its
tough tactics. Retrieved from The Economist:
http://www.economist.com/news/business/21633833-uber-risks-
consumer-backlash-over-its-tough-tactics-uber-competitive

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Risk Intelligence Challenge 2017 | Competition Details

Submission Guidelines Preliminary Round

Submit case study document (up to 5 pages)

excluding appendices.

Font: Times New Roman size 12

Semi-final Round

Case presentation with details to be released at

a later date.

Process Preliminary Round

Interested teams will need to submit their case

study through riskintelligence.c@gmail.com by
12th February 2017, Sunday, 2359.

Deloitte will review the proposals and release

the results shortly after. Results will be released
on 27th February 2017.

Semi-final Round - March 2017

A total of 6-8 proposals will be shortlisted,

depending on registration rates. Teams will
receive mentorship and training from our own
consultants and will be presenting their case to a
panel of judges.

Final Round – June/July 2017

The winning team from Singapore will win a

place to compete in the finals on an ASEAN level
with 5 other teams from ASEAN.

Judging Criteria Start-up Challenges

 Identifying specific challenges and

complications faced by the start-up
based on reputational, regulatory and
technological infrastructures

Insights Assessment

 Providing feasible and scalable insights

by proposing strategic and innovative
decisions and describing plan for
resilience and improvement

Market Analysis

 Evaluation of market, industry size,

maturity and overall trends. Outlook for

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Risk Intelligence Challenge 2017 |

major competitions and consumer

demographics

Coherence in Report

 No spelling and grammatical error

 Good usage of language and proper
sentence structures

References

 Reliable sources and cited appropriately

 Accurate use of information

Possible Areas of Focus Teams could assess the start-up of their choice
in the following aspects but are not limited to:

Concept/Idea Development

 Sources of ideas and creativity

 Demand and supply in the market
 Effectuation and Causality

Feasibility Analysis

 Viability and attractiveness

 Business opportunities
 Planning business models

Industry Research

 Competitive strategy
 Value creation
 Potential conflicts

Marketing and Branding

 Entrepreneurial marketing
 Market segmentation
 Digital and social media platforms
 Branding strategy
 Franchising

Financial Analysis

 Profit and Loss Statement

 Securing capital and venture financing
 Budget projection
 Break-even analysis, payback period
 Utilization of assets
 Government grants and investors

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Risk Intelligence Challenge 2017 | Contacts

Contacts
We look forward to your submissions in Risk Intelligence Challenge 2017!

Feel free to contact us at Deloitte if you encounter any problems or have

further queries.

Contacts

Please look for Loh Seow Shi at seoloh@deloitte.com or Deborah Chin at

dechin@deloitte.com.

Co-organized with:

Singapore Management University Accounting Society

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Risk Intelligence Challenge 2017 | Contacts

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a

UK private company limited by guarantee (“DTTL”), its network of
member firms, and their related entities. DTTL and each of its member
firms are legally separate and independent entities. DTTL (also referred
to as “Deloitte Global”) does not provide services to clients. Please see
www.deloitte.com/sg/about to learn more about our global network of
member firms.

Deloitte provides audit, consulting, financial advisory, risk advisory, tax

and related services to public and private clients spanning multiple
industries. Deloitte serves four out of five Fortune Global 500®
companies through a globally connected network of member firms in
more than 150 countries and territories bringing world-class capabilities,
insights, and high-quality service to address clients’ most complex
business challenges. To learn more about how Deloitte’s approximately
245,000 professionals make an impact that matters, please connect with
us on Facebook, LinkedIn, or Twitter.

About Deloitte Southeast Asia

Deloitte Southeast Asia Ltd – a member firm of Deloitte Touche
Tohmatsu Limited comprising Deloitte practices operating in Brunei,
Cambodia, Guam, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines,
Singapore, Thailand and Vietnam – was established to deliver
measurable value to the particular demands of increasingly intra-
regional and fast growing companies and enterprises.

Comprising 290 partners and over 7,400 professionals in 25 office

locations, the subsidiaries and affiliates of Deloitte Southeast Asia Ltd
combine their technical expertise and deep industry knowledge to deliver
consistent high quality services to companies in the region.

All services are provided through the individual country practices, their
subsidiaries and affiliates which are separate and independent legal
entities.

About Deloitte Singapore

In Singapore, services are provided by Deloitte & Touche LLP and its
subsidiaries and affiliates.

© 2016 Deloitte & Touche Enterprise Risk Services Pte Ltd

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