Enterprise Risk Management Assignment 1

Part I: Discussion

From a broad perspective, illustrate the four elements of Risk Management that were used by the LEGO Group. As with all methods and tools, there are strengths and weaknesses. Identify a strength and a weakness of the four elements of Risk Management.

Part II: Assignment

You have now had the opportunity to look at the pros and cons of the four elements of Risk Management that were illustrated by the LEGO Group. For this assignment, you are to take the four elements, apply them to a different company, whether real or theoretical, and identify whether they are for damage control or they are proactive. Justify why you have identified them as damage control or proactive.