Risk Management Plan for Business Essay Example | Topics and Well Written Essays - 2000 words

Risk Management Plan for Business - Essay Example Practitioners have developed several approaches in resolving the adverse effects punctuated by risks. Through the years, systematic methods were devised to arrive at the best results and prevent the risks from recurring. Moreover, risk management has become part of the entire strategic planning and other similar corporate endeavors (Leland, 1998). In a more specific view, project development processes have included identification of risks as well as the provision of action plans to combat the risks. These improvements in the perception of project risks have provided leverage for organizations. The process of implementing risk management is procedural and requires intricate schemes. Ideal risk management suggests that the risk with the will create more loss and likely to happen is prioritized. Risks with low-key effects and with less probability are shelved for later actions. Based on this model, it is evident that it is difficult to create strategies to mitigate risks. It will be a challenge for firms to balance the risks and determine their impact and probability. LRH Financial is global investment management company that serves as financial intermediary. The marketing group headed by Alana Shapiro has been contemplating on creating projects that will become the marketing initiative of the company. Initially, the company has targeted the media as the most viable avenue to promote the company. The specific project was designed to make the company a primary sponsor in golf and basketball events. It is expected that such exposure will make the company highly recognizable. In addition, the company will become a commodity among households and sports aficionados. Since golf and basketball are emerging sports, television viewers are highly interested in watching such games. Despite of this expected success, the project team has realized the tendency of risks to occur. Essentially, this will provide a better picture on the manner in which the project will perform. The team will be tasked to identify the different risks according to the nature in which the risks exist. The process will be rigorous as it will require time before the team finally arrives at project plans. It is, however, advantageous for the company to explore the possibilities of barriers to the project. For the project to succeed, the project team has to properly identify the risks and determine the level of prioritization. Although risks are difficult to quantify, the team has the capacity to determine the likely impact of these risks to the company. Precision and accuracy are important in this process. It is imperative for the project to create a viable action plan that will handle the risks and anticipate the occurrence of unknown risks. Risk Identification Because the project is dynamic, it is expected that risks will exist and eventually affect its efficacy. Before identifying the risks, it is important to discuss the nature of the project. The project concerns sporting events particularly golf and basketball to be sponsored by LRH Financial. Interestingly, the budget for the project is perceived to be adequate and the support from high-ranking officials is ample. Primarily, the name of the company will be exposed in the basketball and golf games. These will be done orally through the commentators and by print using banners and video graphics. Given the nature of the

History 1492-1860 Research Paper Example | Topics and Well Written Essays - 1250 words

History 1492-1860 - Research Paper Example The event is significant in history because it shows that the United States was not always a cohesive country. Surprisingly few changes occured after the massacre took place, and not many people were even punished even in the larger conflict. In fact, there is still some controversy over exactly what went on, and exactly who was involved, to this very day. To really understand what happened during the Mountain Meadows Massacre, it is necessary to get a clear view of what was going on otherwise in Utah at the time it occurred The massacre was not just some random act, but one that was caused by many circumstances. It was set within the period of the Utah War, which was an "armed confrontation over power and authority during 1857–58 between the civil-religious leadership of Utah Territory, led by Governor Brigham Young, and the administration of President James Buchanan."1 This conflict itself had been caused by tensions between Mormon and non-Mormon Americans. Non-Mormons thought that the Mormons were heretics, while Mormons felt they were being unfairly criticized because of their correct religious beliefs. These two circumstances led to "a cultural clash between themselves and their neighbors ... and Mormons attempting to defend themselves or strike back before being overwhelmed in a still larger wave of violence."2 Some other reasons for the conflict include incompetence on the behalf of both President Buchanan and Governor Brigham Young, who was also the supreme leader of the Mormon Church. Buchanan "new shockingly little in 1857 about either conditions in Utah or Brigham Youngs likely reaction to his removal as governor" and also made bad choices about who he put in charge of the situation.3 Young, on the other hand, exaggerated things a lot, and his "hostile, violent rhetoric as governor" very quickly created the sort of environment where Mormon settlers who looked to