Read the material at the sites listed in the Week 4 Lessons
- Risk terms explained here: http://iveybusinessjournal.com/publication/the-role-of-leadership-in-managing-risk/
Complete a 2-4 page paper discussing the risks and rewards to your client as they relate to the management problem in the attached word docs.
Submission Instructions: Upload the paper to your Week 4 Assignment folder.
When reflecting on business risks for the identified solutions, here are some things to consider for your client:
· · What changes of roles and responsibilities would be required with personnel changes?
· · What is the succession plan?
· · What new systems or skills will employees need to gain? What is the financial cost?
· · What interdepartmental changes need to be made (manufacturing, sales, delivery, financial and IT)?
· · Would communication barriers increase or decrease?
· · How would the proposed solutions impact clients? Would it increase their engagement level?
· · Would the changes impact the brand or reputation in the industry?
While these are not all-inclusive questions, they can provide guidance and clarity when developing the Risk Assessment. Risk analysis should be completed for each proposed solution.