pick a company or organization and do a complete risk management analysis of it, using an ERM format which should include business risks that are beyond the typically scope of insurance. For your...

Management
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We know the fact that every company in the world is facing different problems; it is the duty of
management to implement productive techniques such as ERP, or ERM for managing the risks in
an productive way. As per the report of Fo
es (2013) risk assessment called as important
aspects that help the organization for attaining its goals and objectives. According to the words
of Peter (2014) enterprise resource management called as the important principle or approach
used by the companies for controlling and managing the risk. Most of the international business
organizations are facing tough competition from national and international players. Now we can
analyze the various internal and external risks faced by the company Toyota in an detailed way.
Risks faced by the company
Due to the impact of globalization and other recent company is facing tough competition and
various risks. We know the fact that in order for managing the risks in a productive way; first of
all we have to identify the different internal and external risks faced by the company.
Physical damage risk
We know the fact that for automobile companies they required large space for keeping the cars
and the manufacturing plant has to cover with all the necessary safety measures. According to
the words of David (2014) in the company affected by the natural based disasters, and it affected
entire operations of the company. The company faced problems in the year of 2011 and 2016, the
supply chain operations and other related services was disrupted due to effect of earthquake and
Tsunami (Cheng et al 2017, p.63). While analyzing the operations of the company we can able to
understand that their main manufacturing plant is located at Tohoku region in Japan. Most of the
people consider Tohoku as a car manufacturing hub, but due to the effect of Tsunami most of the
companies including Toyota operations was affected. As per the report of Business Insider
(2012) Toyota is the largest car producer and seller in the country and in the year of 2010 the
company gained more profit and reputation. We know the fact that due to impact of Tsunami and
earthquake in the year of 2011 most of the distribution process of the company was disrupted.
International companies are diversifying their business to different countries for reducing the risk
of operations and gaining more profit. In the case of Toyota we can understand that the company
gives more importance to Asian automobile market. According to the words of Thomas (2013) in
order to satisfy the customers we have to deliver the goods and services at right time. Due to
impact of natural disasters the distribution services of the company was affected, and they lost
the customer share in Asian markets. We know the fact that the management of Toyota company
introduced different methods to manage the issues, but two third of suppliers of the company is
from north Japan. In order for delivering the products to right customer we required quality and
competent suppliers. We also know the fact the suppliers also helps the automobile companies to
provide quality products to the customers. In the case of Toyota Company we can understand
that Japan quake and Tsunami created problems for the global operations of the company. As per
the report of Japan Cabinet Office Report (2014) physical damage risks directly affected the
overall operations of the company. In the year of 2013 the market share in US is reduced to 0.5%
and the company also faced problem related with the sales of Scion in North America. Damaged
facilities are the major reason that is related with the decline the sales of Scion in North America.
According to the words of Tony Cramp (2013) executive director of sales and marketing Toyota,
natural disasters created big problems in the company. Most of the suppliers were not ready to
cope with the Toyota natural disaster plan and distribution activities. Suppliers play an key role
in product development and product distribution phases. For a company suppliers called as an
integral part of their production and logistics operations. Damages in the plant and effect of
natural disasters affected overall operations of the company.
Technical obsolesce risk
We know the fact that technology plays an important role growth and development of an
organization. Most of the companies are using different techniques and methods for managing
the competition in an effective way. According to the words of Derin (2015) technology called
as an silent tool that helps the organizations for managing the competition in an productive way.
Toyota company give more importance to the...