Expert Answer:Discussion Question: assume that you have been ask

Answer & Explanation:The writing should be in APA format including references. 300-400 words. attatched the PDF for reference1) assumethat you have been asked to advise the Akawini (chapter 29) managementteam on how they should promote and monitor the transformation of risk management in their business. What performance measures would you recommend that use so that they can monitor progress and performance?Choose one other of the chapters from this week and recommend ERM measures that an organization should implement as well to monitor risks outlined in that chapter.2) Write a paragraph Based on your reading about Bim Consultants Inc., what advice would you provide to the board of Bim Consultants?
its835_chapter_26_29.pdf

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ITS 835
Chapters 26, 27, 28, 29
Mini-Cases on ERM and RIsk
Enterprise Risk Management
Professor Michael Solomon
Overview
• Collection of four mini-cases
• Leaves open ended questions
• Presents real life situations

And needs for ERM
• Mini-Cases




Bim Consultants Inc.
Nerds Galore
The Reluctant General Counsel
Transforming Risk Management at Akawini Copper
Bim Consultants Inc.
• Consulting firm



10 offices in Canada
3,000 staff
30 partners
• “Customers are number one”

But revenue is stagnant
• Opportunity to buy out competitor


Purchase would double size and sales
Negotiations must be kept confidential
Nerds Galore
• Canadian IT service company



12 offices
1,000 employees
Grew from founder’s garage
• Shift from small start-ups to medium size customers
• High turnover of 20% is causing concern
• Decreasing customer satisfaction

Steady revenue (for now)
Nerds Galore, cont’d.


Strategy from new HR VP





Attract the best talent
Retain good people
Manage talent
Optimize the use of people
Rely on outsourcers
Executive team workshop to explore HR risks





Inability to recruit people with needed skills
Loss of staff with key internal knowledge
Uncompetitive labor production
Increased departures of skilled technical staff
Loss of key business know-how
The Reluctant General Counsel



Business Software Corporation (BSC)


Silicon Valley, CA
Annual revenue over $1 billion
Board wants ERM

Upper management supports establishing ERM
EVP of development and general counsel




Doesn’t want to be involved in ERM
Risk discussions could be discoverable in lawsuits
U.S. Securities and Exchange Commission (SEC)

Requires disclosure of risks
Recommendation is to not formally pursue ERM
Transforming Risk Management at
Akawini Copper
• Akawini Copper




Mining company acquired by larger United Minerals
Single mine and plant
$774 million in revenue
1,500 employees
• United Minerals implemented ISO 31000 framework


Substantially more sophisticated than Akawini’s RM
Launched project to transform Akawini RM to ERM

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