Risk Management and Risk of Risk Management of an Emerging Issue
This assessment focuses on aspects and practices of risk management and the risk of risk management and can be considered as being a combination report and academic critical assignment.
Using multiple articles from general, trade and academic literature identify and discuss an important emerging or growing concern or issue for managing in the LCB/hospitality industry (NOT for a specific or individual company or organization). Do not forget to use appropriate citation throughout this Assessment.
You need to follow the following structure for your report, using the sub-headings (the words in bold type and underlined) as the sub-headings in your assignment.
1. Introduction. Outline what the report is about – including brief summary sentences defining the risk issue, what makes the issue appear to be an emerging or growing (increasing) issue, and any report details– for example, note who wrote the report, when the report and information was gathered, any sources of that information; insert any disclaimers.
For Your Information: One fifth of the marks cover Introduction, Recommendations and Conclusion sections.
2. Issue Identification and Literature Review. From academic, trade and general literatures, establish the nature, size, complexity of the issue and what makes the issue a risk.
Show the literature-supported evidence and reasoning for claiming this as an emerging or increasing/growing risk.
For Your Information: One fifth of the marks cover Issue Identification and Literature Review.
3. Managing the Risk Issue. From the literature used in the previous section, establish the range of different ways the authors suggest the issue and risk may be managed and treated.
Select one treatment approach and look at how this may be implemented (right down to the who-what-when-where-how of each step in the management/treatment activity – and support the reasons for doing so from the literature.
For Your Information: one fifth of the marks cover Managing the risk Issue
4. Risk of Risk Management. In looking at the suggested detailed management steps of the previous section show the reasoning for what may go wrong within each step.
More broadly (and using the literature for support) outline what may go wrong in terms of the costs involved and in terms of the people/stakeholders.
Next, discuss and argue what problems could emerge as a conseqeuce of this management should the issue/risk management/treatment be successful
For Your Information: one fifth of the marks cover Risk of Risk Management.
5. Recommendation and Conclusion. Given the above two sections (Managing the Risk Issue and Risk of Risk Management), outline what you recommend needs to be done and what needs to be managed or monitored to improve the chances of success with his way of managing the issue.
For Your Information: as noted earlier, One fifth of the marks cover Introduction and Recommendations and how well you follow and put together the report requirements.
For Your Information: One fifth of the marks cover the academic style of this assignment – fluency, overall argument and explanatory reasoning, appropriate use of citations and reference list.
Length and Presentation: The notional length is 1500 words of text, not counting relevant Tables and Appendices. Do note that this is an applied assignment wherein sources for approaches, theory and data about the setting need to be clearly cited. Succinct formal writing style is mandatory, as is a font/print size of no less than 12 and 1.5 line spacing.
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