reflection essay(1-2pages)

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SafeAssign Originality Report COM101LECJ:Principles of Comm:220610543 • COM 101 Reflection Paper #3

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Word Count: 580 YangmingLiuCOM101Reflection3.docx

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1 Student paper

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Yangming Liu

COM101

Yuezhi Ying

Reflection 3

The attendance of this course has provided me with a lot of skills as a learner. I happened to have learned so many things at a personal level during the class

work which I enjoyed most. Some of these things will help me a lot as a person who desires to work in the banking industry as this has been my dream job. During my classwork, I learned much about what enterprise risk management is and I realized that it plays a great role in the operation of businesses. This is especially to those businesses which want to achieve their objectives by gaining competitive advantage and become market leaders in the industries they operate. In the course, I learned different types of risk which businesses are exposed to and how they can respond to them (mitigating factors). These risks for instance include hazard risks which include things like damage to property and natural disasters. These are risks which the company has little control over. Another type of risk is a financial risk which includes liquidity risk, currency risk among others. I also came across an operational risk as another type of risk. These risks involve dealing with the customer's satisfaction which must be looked at by the company as customers play a great role in the operation of a company. Also found in this category are the integrity and reputational risk of the company. It came out clearly that the company can respond to the above risks in different ways, one, accept the risk the way it is do nothing. Two, transfer the risk to another party for example taking an insurance cover. Three, take some alternative actions within its capacity to minimize the effect of the risk and lastly avoid the risk. This is where the company tries, by all means, possible not to undertake the activity which will lead to the risk. These ways, in one way or the other, will make the company mitigate or reduce the levels of the risks it is exposed to. I also learned several theories in this topic such as portfolio theory, finance theory, agency theory, Capital asset Pricing Model (CAPM) theory among others. These theories in general together with the knowledge learned in the entire course work helped me learn how it can be applied in my desired field of work (banking industry). In this respect, I learned that enterprise risk management is very crucial in the operation of banks all the world. For instance, I learned that banks are exposed to a lot of risks in their operations and thus those charged with their management must understand much about Enterprise Risk Management (ERM). For instance, banks normally accept deposits and give loans to their customers which are composed or made up of individuals and organizations. As such they are susceptible to the financial risk or credit risk. This is because they give loans to people or organizations which at times fail to pay. The banks thus have to critically look at the creditworthiness of the customers before extending loans to them. This will eventually help them to reduce bad debts in their operations. The banks also respond to this risk by transferring it to the insurance companies and that is why every individual or person who takes a loan must pay for the insurance cover against the loan. This will help the bank to recover its money in case of any eventually.

1

6/16/2020 Originality Report

https://ublearns.blackboard.com/webapps/mdb-sa-BB5e00ea752296c/originalityReport/ultra?attemptId=3f7462b4-1589-4942-9754-05ab64fb2e76&co… 2/3

Student paper 100%

Student paper 100%

Student paper 100%

Student paper 100%

1

Student paper

The attendance of this course has provided me with a lot of skills as a learner. I happened to have learned so many things at a personal level during the class work which I enjoyed most. Some of these things will help me a lot as a person who desires to work in the banking industry as this has been my dream job. During my classwork, I learned much about what enterprise risk management is and I realized that it plays a great role in the operation of businesses.

Original source

The attendance of this course has provided me with a lot of skills as a learner I happened to have learned so many things at a personal level during the class work which I enjoyed most Some of these things will help me a lot as a person who desires to work in the banking industry as this has been my dream job During my classwork, I learned much about what enterprise risk management is and I realized that it plays a great role in the operation of businesses

1

Student paper

This is especially to those businesses which want to achieve their objectives by gaining competitive advantage and become market leaders in the industries they operate. In the course, I learned different types of risk which businesses are exposed to and how they can respond to them (mitigating factors). These risks for instance include hazard risks which include things like damage to property and natural disasters. These are risks which the company has little control over.

Original source

This is especially to those businesses which want to achieve their objectives by gaining competitive advantage and become market leaders in the industries they operate In the course, I learned different types of risk which businesses are exposed to and how they can respond to them (mitigating factors) These risks for instance include hazard risks which include things like damage to property and natural disasters These are risks which the company has little control over

1

Student paper

Another type of risk is a financial risk which includes liquidity risk, currency risk among others. I also came across an operational risk as another type of risk. These risks involve dealing with the customer's satisfaction which must be looked at by the company as customers play a great role in the operation of a company. Also found in this category are the integrity and reputational risk of the company.

Original source

Another type of risk is a financial risk which includes liquidity risk, currency risk among others I also came across an operational risk as another type of risk These risks involve dealing with the customer's satisfaction which must be looked at by the company as customers play a great role in the operation of a company Also found in this category are the integrity and reputational risk of the company

1

Student paper

It came out clearly that the company can respond to the above risks in different ways, one, accept the risk the way it is do nothing. Two, transfer the risk to another party for example taking an insurance cover. Three, take some alternative actions within its capacity to minimize the effect of the risk and lastly avoid the risk. This is where the company tries, by all means, possible not to undertake the activity which will lead to the risk.

Original source

It came out clearly that the company can respond to the above risks in different ways, one, accept the risk the way it is do nothing Two, transfer the risk to another party for example taking an insurance cover Three, take some alternative actions within its capacity to minimize the effect of the risk and lastly avoid the risk This is where the company tries, by all means, possible not to undertake the activity which will lead to the risk

6/16/2020 Originality Report

https://ublearns.blackboard.com/webapps/mdb-sa-BB5e00ea752296c/originalityReport/ultra?attemptId=3f7462b4-1589-4942-9754-05ab64fb2e76&co… 3/3

Student paper 100%

Student paper 100%

Student paper 100%1

Student paper

These ways, in one way or the other, will make the company mitigate or reduce the levels of the risks it is exposed to. I also learned several theories in this topic such as portfolio theory, finance theory, agency theory, Capital asset Pricing Model (CAPM) theory among others. These theories in general together with the knowledge learned in the entire course work helped me learn how it can be applied in my desired field of work (banking industry). In this respect, I learned that enterprise risk management is very crucial in the operation of banks all the world.

Original source

These ways, in one way or the other, will make the company mitigate or reduce the levels of the risks it is exposed to I also learned several theories in this topic such as portfolio theory, finance theory, agency theory, Capital asset Pricing Model (CAPM) theory among others These theories in general together with the knowledge learned in the entire course work helped me learn how it can be applied in my desired field of work (banking industry) In this respect, I learned that enterprise risk management is very crucial in the operation of banks all the world

1

Student paper

For instance, I learned that banks are exposed to a lot of risks in their operations and thus those charged with their management must understand much about Enterprise Risk Management (ERM). For instance, banks normally accept deposits and give loans to their customers which are composed or made up of individuals and organizations. As such they are susceptible to the financial risk or credit risk. This is because they give loans to people or organizations which at times fail to pay.

Original source

For instance, I learned that banks are exposed to a lot of risks in their operations and thus those charged with their management must understand much about Enterprise Risk Management (ERM) For instance, banks normally accept deposits and give loans to their customers which are composed or made up of individuals and organizations As such they are susceptible to the financial risk or credit risk This is because they give loans to people or organizations which at times fail to pay

1

Student paper

The banks thus have to critically look at the creditworthiness of the customers before extending loans to them. This will eventually help them to reduce bad debts in their operations. The banks also respond to this risk by transferring it to the insurance companies and that is why every individual or person who takes a loan must pay for the insurance cover against the loan. This will help the bank to recover its money in case of any eventually.

Original source

The banks thus have to critically look at the creditworthiness of the customers before extending loans to them This will eventually help them to reduce bad debts in their operations The banks also respond to this risk by transferring it to the insurance companies and that is why every individual or person who takes a loan must pay for the insurance cover against the loan This will help the bank to recover its money in case of any eventually