Laser Lessons - Lesson

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Question 1 of 5

staff get a pay rise

the business starts a green initiative

the market changes

profits fall

natural disasters occur

the business performs better than expected

process breakdowns

supplier failure

interest rate changes

legislative changes

generate staff turnover and skills shortages

increase the difficulty of assessing an organisation’s overall risk

lead to lower profits for the organisation

facilitate assessing of an organisation’s overall risk

replaces the overall risk management process

evaluates the significance of a risk

rates the probability of a risk happening

complements the overall risk management process

performing a risk analysis

good credit control

misrepresenting financial performance

moving office

avoiding the risk if possible

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Table of Contents

Click to read the case study 'Tesco: risk in the round' by the Chartered Institute of Management Accountants.
The document from which the case study was taken can be read in full by clicking on the icon to the left.
Once you have read the case studies answer the following questions:
- How does Tesco’s governance fit in with risk management?
- It is rare that there is just one way to respond to a scenario or situation, so do not consider that the response you have chosen to this scenario will be judged as right or wrong. Share your scenario with a work colleague and ask them to tell you if they think you have responded appropriately. Ask them to challenge your response if necessary. You do not need to submit this task for assessment unless asked to do so by your tutor.