•· What changes of roles and responsibilities would be required with personnel changes?

Instructions: Read the material at the sites listed in the Week 4 Lessons folder to help guide you assess the risks and rewards related to the solution(s) to the management problem you are exploring. Complete a 2-4 page paper discussing the risks and rewards to your client as they relate to the management problem are exploring during this course.

Submission Instructions: Upload the paper to your Week 4 Assignment folder.

Then 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.

ANSWER

Taking risks is considered to be a driving force of business development, and it is vital to companies seeking business achievements. Risks are also identified to be daring, although they present substantial opportunities for organizational development and gaining competitive advantage. Most businesses have reported risk disappointments mainly due to challenges reported in competitive markets. The ability of a company to manage risks has increasingly been identified to be challenging due to uncertain political and socioeconomic events within the business’s environment. Dealing with threats involves working through options to deal with undesirable risks to a business. Certain risks require modifications while others can be avoided, and it is up to the organization’s ma…