RSK2601 Assignment 1 (ANSWERS) Semester 2 2025 - DISTINCTION GUARANTEED

Achieve a distinction with this comprehensive and well-organized set of RSK2601 Assignment 1 (ANSWERS) Semester 2 2025 - DISTINCTION GUARANTEED. Ensure accuracy and excellence in your submission!!!! Mr. Khumalo has just been appointed as the new CEO of Local Coal Mining Ltd. He approaches you as the risk manager to gain a better understanding of the implementation of risk management in the company. What challenges might Ubuntu Holdings face in implementing ERM and how can they be dealt with? Briefly describe the difference between an enterprise risk management framework, policy and process to Mr. Khumalo to give him a better understanding of the implementation of risk management in Local Coal Mining Ltd. Mrs Vilakazi has just been appointed as the new CEO of Local Coal Mining Ltd. She approaches you as the risk manager to better understand the implementation of risk management within the company. Compile a report addressed to Mrs Vilakazi in which you briefly explain the difference between an ERM framework, policy, and process. (Explain the difference between risk removal and risk transfer. Use examples to explain your answer. How does utility theory explain the differences in risk perception between groups and individuals? Identify one strength of Harvest Hub and explain how it contributes to the retailer's success. How does the King IV Report on Corporate Governance support ERM in South African organisations such as Ubuntu Holdings? ( What is one key weakness that Harvest Hub faces, and how could it impact the business? Explain one opportunity that Harvest Hub could exploit to increase its market share. Describe one external threat that may affect Harvest Hub’s operations. Identify and describe four (4) risk response strategies which can be used by a business in the enterprise risk management treatment stage. (8) Identify any six (6) additional governance of risk principles adressed in the King III report not specifically listed by Nedbank Group. (6)Explain how Ubuntu Holdings could benefit from implementing an ERM framework. ( Harvest Hub Ltd is one of the largest food retailers in South Africa, operating more than 100 stores nationwide. The company’s core business is providing low-cost groceries to the middle- and lower-income markets. Despite economic challenges in South Africa, including high unemployment, inflation, load-shedding, social unrest, and political instability, Harvest Hub has continued to grow. A SWOT analysis is a tool that is used to identify strengths, weaknesses, opportunities, and threats in the retail industry in relation to both the internal environment and external environment. As a risk consultant, you have been appointed to perform a SWOT analysis and to answer the following questions Define and explain the importance of operational risk, Identify and distinguish between the three main attitudes towards risk Identify and describe four process activities for risk analysis which can be used by a business in the ERM analysis stage. What are the key components of an ERM framework that Ubuntu Holdings should implement? Distinguish between key risk indicators and key performance indicators. Use examples to elucidate your answer. Briefly explain the following six process activities which need to take place in the risk evaluation stage. Mrs Jacobs has just been appointed as the new CEO of CALL4U Ltd. She approaches you as the risk manager to gain a better understanding of the implementation of enterprise risk management (ERM) within the company. Compile a report addressed to Mrs Jacobs in which you explain the elements of an ERM structure. Ubuntu Holdings (Pty) Ltd is a medium-sized mining services provider based in Limpopo. The company operates in a highly regulated, high-risk environment and has recently started developing an enterprise risk management (ERM) framework guided by ISO 31000 and COSO principles. In recent years, the company has faced numerous challenges, including regulatory fines, environmental incidents and disruptions caused by labour strikes and energy supply issues. To manage these risks and to improve strategic decision-making, the board has mandated the adoption of a formal ERM framework. As the chief risk officer (CRO), you are responsible for identifying significant risks, engaging stakeholders, and aligning risk management processes with business objectives. Identify the three primary technology types important to a business and give one example of each When it comes to the perception of risk, groups and individuals might perceive risk differently. Indicate how the Utility Theory explains this phenomenon