Homework Assignment

Address the following questions:

• 1. What are the advantages of integrating ERM with strategy and strategy execution as described in this case?
• 2. Describe the four steps in the risk management process.
• 3. How does scenario analysis as described in this case help an organization to prepare for uncertainties?  
• 4. What are the advantages of using the PAPA model to categorize risks?
• 5. The mission of the strategic risk management team is to “Drive conscious choice.” How does the Active Risk and Opportunity Planning (AROP) element of strategic risk management at LEGO help to drive conscious choice?

Requirements:

The homework assignments are not opinion compositions, or a book, chapter, or article review. These assignments are positional arguments that are entirely supported by empirical evidence and well-known industry facts. You can include your personal experiences and ideas if it directly relates to the topic, or reinforces your position. However, you must support all statements with evidence. All submissions must adhere to APA guidelines. APA writing is an academic standard; therefore, it is not optional; it is mandatory.

• Be a scholarly submission
• Include a title page
• Times New Roman font, 1-inch margin, and double-spaced
• Be at least two pages in length

  Should not consist of any bullet-points

• Have a reference page with at least four academic referencesBe written in a clear and concise manner

  You CANNOT useWikipedia, LinkedIn articles, blogs, paid vendors, certification websites, or similar sources in academic writing. You CAN use reputable industry articles from publications similar to ComputerWeekly, PCMag, Wall Street Journal, New York Times, or similar sources. Academic journals and popular industry articles are accessible in the university’s library databases and Google Scholar. All references should not have a publication date older than 2005.

Points deducted if your submission: 

• Does not use the required textbook and at least four additional reference sources 

  You CANNOT use Wikipedia, LinkedIn articles, blogs, paid vendors, certification websites, or similar sources in academic writing. You CAN use reputable industry articles from publications similar to ComputerWeekly, PCMag, Wall Street Journal, New York Times, or similar sources. Academic journals and popular industry articles are accessible in the university’s library databases and Google Scholar. All references should not have a publication date older than 2005.

• Does not answer the question(s) thoroughly meaning at least 2 pages paragraphs
• Primarily consists of bullet points
• Uses statements such as “based on my knowledge,” “according to me,” “as per my knowledge,” or similar
• Contains contractual phrases, as an example “shouldn’t” “couldn’t” or “didn’t,” or similar
• Uses vague words or phrases such as “proper,” “appropriate,” “adequate,” “it is obvious,” “it is clear,” “in fact,” or similar to describe a process, function, or procedure

  As an example, “proper incident response plan,” “appropriate IT professional,” “adequate security,” or similar. These words are subjective because they have different meanings to different individuals.