Risk Management and Risk Management Strategy Case Study

Risk Management and Risk Management Strategy - Case Study Example This research paper consists of two parts. On the example of PowerCo, the company operating in the field of electricity, risk management strategy is correlated with human resource development as one of the crucial and integrative components necessary for company’s competitiveness in the global market. Further on, it is underlined that the steps taken by risk managers of the company are oriented on internal and external trainings development and a constant education of employees. In such a way, PowerCo makes an attempt to fight against its rivals in the global market. Moreover, they try to fight against overall occurrence of electricity campaigns and become global by means of investing and developing their human resources. Part I Case Study on Risk Management Introduction Risk management is one of the most important issues for the modern companies. A successful performance of a small and big company directly depends on the ability to apply risk management strategies correctly. The main objective of risk management is to identify, evaluate and mitigate potential external risks. Very often risk management strategy is applied for global or large companies. Small companies are left outside and very often managers of these companies do not care much about risk management strategy involvement as a possible solution to the company’s problem. The following research consisting of two parts is outlined with regards to a common risk management cycle. The company chosen for further discussion is PowerCo international company producing electricity that has a potential to expand globally. With this respect, numerous challenges may occur. The future is unpredictable for successful companies or those who only start up their businesses. Nevertheless, many researches and