Nike Risk Management Process
Q.1. Analyze the risk management process of any New Zealand based organization of your choice by answering the following questions.
A) Rationally identify at least four possible risks
Risk Management Process
Risk Management Process is a process that the organization use to define, analyze and solve any risk management could happen in the organization regardless of the risk which it might be External or Internal risk management.
Nike one of the biggest firms which placed in New Zealand, it could face one of the risk management during running the business. External Risk Management have an impact on the business once it happen, Legal Risk Management one of the External risks which the company might face any time such as change regulation
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External Risk Management which has the Legal risk and Environmental Risk, regarding to Nike firm the Legal Risk in New Zealand is 5/10 because Nike has branches in all over the world where legislation one the main legal aspects which affect Nike once it happen and Nike has to be aware of it because its continuously change. Environmental Risk Management is 3/10 where New Zealand has some natural hazards such earthquakes but it’s rarely happen where the last earthquake happened in Christchurch where totally destroyed. Further, Internal Risk Management such the Hazards that the employee face is 6/10 where it could happen in a daily basis because Nike has their own factories that produce products. Human Recourse Risk Management is 5/10 in Nike where they manage more than 44000 employees in all over the …show more content…
Legal Risk Management play an crucial role in any company especially in Nike because it is an international company where it has branches in all over the world, the owners and the managers for Nike should be aware of the legal part and they always should be updated to avoid any problems which can the company face in the daily basis where the regulations are continuously changing and sometimes there is no matches between the company principles and the government regulations and rules where the owners and the managers should be fully prepared to change the company rules in order to match the government regulations. Environmental Risk Management which is very hard to control because it is out of the company control and unexpected and could happen in any moment during running the business such as earthquakes, volcanoes and tornados. Further, the internal Risk Management it is under the company control especially the Health & Safety department in Nike where the owners and the managers should put warning signs in all the manufacturing places such as the factories where the signs warn the employees there could a hazard happen during doing the job, and the signs should include the work methodology to avoid any hazards that the workers could face. Human Resource department which is very important department in any company and
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