Government’s Support in Risk Management
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
“Promoting Business Resilience: Government’s Support in Risk Management”
In today’s dynamic business landscape, organizations face a myriad of risks that can potentially disrupt their operations and profitability. The ability to withstand and recover from such risks is crucial for long-term sustainability. Recognizing this, governments play a vital role in supporting businesses by providing frameworks, resources, and assistance to enhance their risk management practices. This essay explores the importance of business resilience, highlights the types of risks faced by organizations, and examines the various ways in which governments can support businesses in effectively managing and mitigating these risks.
Body:
Importance of Business Resilience
Business resilience refers to an organization’s ability to anticipate, adapt to, and recover from disruptive events. It involves implementing strategies and processes to minimize the impact of risks and enable continuity of operations. Resilient businesses are better equipped to navigate uncertain environments, protect their stakeholders, and sustain their competitive advantage. By fostering business resilience, governments promote economic stability, job creation, and overall societal well-being.
Types of Risks Faced by Organizations
Organizations encounter a diverse range of risks, which can be broadly categorized into internal and external risks. Internal risks include operational risks, such as equipment failures, supply chain disruptions, or human error, while external risks encompass economic downturns, natural disasters, cybersecurity threats, and regulatory changes. These risks can lead to financial losses, reputational damage, and operational disruptions, highlighting the need for robust risk management practices.
Government Support in Risk Management
- a) Regulatory Frameworks: Governments establish regulations and standards that define the minimum requirements for risk management in various sectors. These frameworks provide guidelines on safety, security, environmental protection, and financial reporting. By ensuring compliance, governments promote transparency and accountability, reducing the likelihood of risks.
- b) Access to Information and Expertise: Governments facilitate the dissemination of relevant information and expertise to businesses. This includes sharing data on emerging risks, providing research reports, and organizing training programs or workshops on risk management. By improving knowledge and awareness, governments enable businesses to make informed decisions and enhance their risk mitigation strategies.
- c) Financial Assistance and Insurance Programs: Governments often offer financial assistance and incentives to support businesses in managing risks. This may include grants, loans, or subsidies to invest in risk mitigation technologies, infrastructure upgrades, or insurance coverage. Governments can also collaborate with insurance providers to develop affordable and comprehensive insurance programs that protect businesses against various risks.
- d) Collaborative Networks and Partnerships: Governments foster collaborations between businesses, academia, and other stakeholders to create networks dedicated to risk management. Such partnerships promote knowledge sharing, innovation, and best practices in risk mitigation. Governments can also facilitate public-private partnerships to develop and implement joint initiatives, such as disaster preparedness plans or cybersecurity frameworks.
- e) Crisis Response and Recovery Support: In the event of a crisis or disaster, governments play a critical role in providing immediate support and resources to affected businesses. This may include emergency funding, logistical assistance, or temporary regulatory relief to expedite recovery efforts. Governments can also establish dedicated agencies or task forces to coordinate disaster response and recovery initiatives.
Conclusion
Business resilience is essential for organizations to thrive in today’s complex and uncertain business environment. Governments can significantly contribute to enhancing business resilience by providing regulatory frameworks, access to information and expertise, financial assistance, collaborative networks, and crisis response support. By supporting businesses in effective risk management, governments promote economic stability, job creation, and overall societal welfare. It is imperative for governments to continue their efforts in strengthening the partnership with businesses to build a resilient and thriving economy.
Government’s Support in Risk Management
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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