After reading Chapter 28 (The Reluctant General Counsel) and Chapter 29 (Transforming Risk Management at Akawini Copper) of the text, A) Respond to the following questions: What are Jason’s opti

chaythanya

Risk is the vulnerability brought about by the event of an occasion that may influence the accomplishment of association's objectives. The administration of a law office's risks includes choices that are not just about maintaining a strategic distance from a negative effect, yet in addition about seeking after a positive (however un-ensured) impact on business openings. Subsequently, effective Risk management mitigates misfortunes, however can likewise decidedly add to the focused standing of a firm. This strain between adverse risks and alluring business openings makes risk management a basic component of firm administration or governance.

So at this time, Jason have very less options in his hands. Jason has to agree with General Counsel for taking part of Risk Management Program to their organization. And Jason has to understand the Risk Management core activities with Multiple Lawsuits and come up with his finding from other similar companies which applied dynamic risk management fashion. Also, the team has to implement best practices, frequent surveys to see where the progress standing out, and looking out current trends in the market.

Implementing Legal Risk Management makes organization to achieve goals by

• Identifying potential lawful and administrative issues at the earliest opportunity and rapidly and proficiently surveying those issues to build up a profile of potential lawful risks;

• Avoiding and moderating legitimate dangers through proactive activities, for example, compliance projects and discourse with government authorities in charge of declaration as well as authorization of laws and guidelines;

• And the management of legal risks as they emerge and impact the organization.

Akawini Copper’s came up with different standards to improve its process by transforming risk management. I would expect following outcomes from Akawini Copper’s first year risk management plan including typical tasks.

Communicate the Vision in step by step process with best practices and proper planning to mitigate risks.
Appropriate training to the team after every event and decisions.
Acceptable planning enhancements and improve strategies to handle risks in effective way.
Establish a Sense of Urgency and uncertain risks with appropriate actions.
Company Governance process has to report on each of their steps for risk management implementation to transform their firm to act in a dynamic culture.

References:

Fraser, J. R., Simkins, B. J., & Narvaez, K. (2015). Implementing Enterprise Risk Management Case Studies and Best Practices. Hobonken, New Jersey, USA: John Wiley & Sons, Inc.