Premium Essay

Composite Risk Management

In:

Submitted By k2jlb
Words 2165
Pages 9
CRM
In order for a company to be successful it must establish a positive relationship with its customers. Customer relationship management (CRM) involves building lasting relationships with internal customers as well as external customers. If a company fails at CRM they risk losing their customers to their competitors. CRM involves the tracking of customers and potential customers called prospects. ("What is CRM? | PCMag.com", 2013., p. 1) Managers whom are involved in CRM are generally looking at several different concepts such as Opportunity tracking, Prospects/Lead Generation, Email Integration, Automated Workflow, Collaboration and Reporting. ("What is CRM? | PCMag.com", 2013., p. 1) Opportunity tracking involves the manager knowing what deals the sales team may be working on. ("What is CRM? | PCMag.com", 2013., p. 1) This gives the manager leverage when trying to please customers and attract new ones. Prospects/Lead Generation involves managers being aware of any new customers that may need or want their products and / or services. ("What is CRM? | PCMag.com", 2013., p. 1) When a manager attracts a prospective customer and they buy into a product or service, the prospective customer changes to a regular customer. At this point the relationship changes towards maintaining that relationship by keeping that customer happy. ("What is CRM? | PCMag.com", 2013., p. 1) Email Integration involves creating open means of communication such as a Microsoft Exchange server or a cloud-based email server. ("What is CRM? | PCMag.com", 2013., p. 1) Automated Workflow involves keeping the customer and potential customers informed about the company's progress by providing information to them in real time. ("What is CRM? | PCMag.com", 2013., p. 1) Collaboration involves managers communicating with their customers as well as their team members that are working on the same deal for

Similar Documents

Premium Essay

Donald

...All of the following are key sources of Army transportation hazards EXCEPT: * Air operations * Port operations * Rail operations * POV operations What document mandates the integration of composite risk management into the unit safety and occupational health program? * AR 385-10 * FM 5-19 * DA Pam 385-40 * DA Pam 385-90 What key resource(s) are available to commanders for assistance with loss prevention? * Sexual Assault/Prevention Response Program * Center for Health Promotion and Preventive Medicine * Army Substance Abuse Program * All of the above Which of the following best describes how the composite risk management process should be reflected in your safety briefing? * It is important to teach the composite risk management process in your briefing * It is important to review the composite risk management worksheet * It is useful to use the steps of the composite risk management process to organize your safety briefing * You should review the methods for assessing the probability and severity of hazards for your unit All of the following are effective controls to mitigate the risk of a privately owned vehicle accident EXCEPT: * Leave/Pass Form * Safety survey/inspection * Designated driver program * Travel Risk Planning System What document provides the requirement for establishing a unit safety program? * AR 385-10 * AR 385-90 * AR 11-9 * AR 385-1 What model are you required to use when creating a command...

Words: 2669 - Pages: 11

Premium Essay

Lab 3

...lab 3 1. The purpose of the Risk Management Plan is to define how risks will be managed, monitored and controlled throughout the project. 2.The challenge of protecting critical business information has never been greater. Extensive requirements originating from multiple governing bodies, coupled with rising costs and financial penalties for failure, makes governing the operations of the organization an increasing challenge. Furthermore, increased competition for limited budgets and resources requires that organizations allocate available funding toward their highest-priority information security investments. LogicManager’s risk based approach helps you to objectively prioritize which business areas require focus and allocation of critical resources. 3.Risk Planning is developing and documenting organized, comprehensive, and interactive strategies and methods for identifying risks.  It is also used for performing risk assessments to establish risk handling priorities, developing risk handling plans, monitoring the status of risk handling actions, determining and obtaining the resources to implement the risk management strategies.  Risk planning is used in the development and implementation of required training and communicating risk information up and down the project stakeholder organization. 4.The First step in Composite Risk Management process is Planning Risk Management. This is where you will plan how you will handle all the Risks faced by your Project. 5. This...

Words: 725 - Pages: 3

Premium Essay

Mechanical

...cost.  - Ensure that occupational and food safety standards are implemented consistently.  - Participate in new projects and periodic maintenance plans to provide continuous production  - Lead new equipment commissioning and start-up stages.  - Lead Planned Maintenance activities in production lines to improve performance with TPM and involve in training activities of blue-collar workers.  - Involve in kaizen projects to eliminate losses and to increase machine efficiencies  - Ensure that all activities in the department are in line with Good Manufacturing Practices, food safety and work place safety requirements - Machinery safety trainer - Safety Pillar facilitator - Follow up Capex projects & implementation - Conduct energy management systems and saving projects - Conduct process improvement works & redesign of processes - Conduct hygenic...

Words: 742 - Pages: 3

Free Essay

Value at Risk

...Initially, the VaR has been anticipating to quantify the available risks in derivatives markets, but it has grown widely and it has now been applied in measuring all kinds of risks, primarily credit and market risks. It also developed from a tool that quantifies risk to a tool that is applied in active risk management. Today VaR has shifted beyond application in financial institutions. In the beginning, companies with largely exposed to financial markets used other kinds of activities before spreading to other businesses. Today, an ever-growing numbers of individual businesses apply and appreciate VaR as an effective tool for quantifying financial risksKrause (2003). This trend is evidently aided by the fact that non-specialists easily understand VaR. The risks of the prevalent use of VaR are an overdependence on the results it gives, misconception, and even abuse. It is as a result that, essential individuals using VaR understand its problems and limitations. In this paper, I will explore in depth these constraints, which unluckily do not mark prominently. To begin with, the VaR estimate is founded on precedent data, that is, it uses past distribution of effects of the investment. However, to calculate the peril of an investment, it is of no concern how big this risk has been in the earlier period, but fairly on how much exposure there is within the existing period; therefore, the future distribution of outputs would be the appropriate to consider. As long as the division...

Words: 1351 - Pages: 6

Premium Essay

Syllabus

...480A & IBUS 581A. GLOBAL BUSINESS RISK MANAGEMENT Spring 2015 MW 4:45-6:10 pm Room: AA 370 4 credits Office Hours: Wednesday 1:00 – 2:00 pm or by appointment Office: AA-264 Secretary: Bernie Cencetti Office: AA-361 Telephone: (607) 777-2674 Email: bbobal@binghamton.edu Course Objectives In an increasingly globalizing world, more and more companies are going abroad to pursue their major business objectives. What are the risks encountered by MNCs in their international business operations? How to evaluate, approach and manage these risks? This course aims to provide a general understanding of the field of global risk analysis and management. More specifically, you will learn about the development of the risk assessment industry and the major approaches to risk assessment. You will also get acquainted with the various types of risk that international businesses face in their operations abroad, and the major strategies for risk mitigation and management. We will pay special attention to political risks (asset expropriation, contract repudiation, legal and regulatory risks), 1 societal risks (activism of international non-governmental organizations, reputation and public image issues), and everyday risks (corruption). Through a combination of readings, lectures, guest speakers, case discussions and risk assessment projects you will develop practical skills in evaluating and assessing risk, and will learn how to approach and manage risk on a global scale. Background...

Words: 3375 - Pages: 14

Premium Essay

Contract Specialist

...Running head: RISK MANAGEMENT AND THEIR INFLUENCES Risk Management and Their Influences on Corporate Governance University of Maryland University College Graduate School of Management& technology Executive Summary Implementing a risk management process in line with organizational or business goals and objectives is vital for successfully managing or mitigating risk. Risk identification, analysis, handling, and monitoring should be addressed by all stakeholders. The process should be implemented in accordance with a pre constructed Risk management plan. A well developed risk assessment will make use of the considerable number of assessments, planning, and formal risk identification performed to provide a picture of the composite or overall risk associated with an organization. Also an effective risk mitigation strategy will provide a significant increase in the confidence level that a business or organization will meet its cost, schedule, and performance requirements. Introduction Risk is an important concept that plays a major role in the success of a business and organization. Risk is defined as the exposure to injury or loss. Every decision that we make as human beings contain some form of risk and most of the time the weight of the risk determine whether we will follow through with an action or not. Risk Management is a systematic way to keep those risks in check and a way to limit those risks in impacting the...

Words: 2336 - Pages: 10

Premium Essay

Credit Risk

...ABSTRACT Risk Management is the application of proactive strategy to plan, lead, organize, and control the wide variety of risks that are rushed into the fabric of an organization„s daily and long-term functioning. Like it or not, risk has a say in the achievement of our goals and in the overall success of an organization. Present paper is to make an attempt to identify the risks faced by the banking industry and the process of risk management. This paper also examined the different techniques adopted by banking industry for risk management. To achieve the objectives of the study data has been collected from secondary sources i.e., from Books, journals and online publications, identified various risks faced by the banks, developed the process of risk management and analyzed different risk management techniques. Finally it can be concluded that the banks should take risk more consciously, anticipates adverse changes and hedges accordingly, it becomes a source of competitive advantage, and efficient management of the banking industry. KEYWORDS: Risk Management, Banking Sector, Credit risk, Market risk, Operating Risk, Gab Analysis, Value at Risk (VatR) _____________________________________________________________________________________ INTRODUCTION Risk is defined as anything that can create hindrances in the way of achievement of certain objectives. It can be because of either internal factors or external factors, depending upon the type of risk that exists...

Words: 3810 - Pages: 16

Premium Essay

Green Banking

...Environmental Risk Management & its purpose? It’s a Banking for saving the environment from different hazards and pollution. A risk due to environmental impacts caused by environmental conditions generating an element of uncertainty or possibility of loss in the context of a financing transaction. Purpose The overall purpose of Environmental Risk Management is to understand and manage risk that arises from environmental concerns. This brings a focus on planning and implementing policies and procedures to mitigate environmental risks. The specific purposes are to: Ø Examine the environmental issues and concerns associated with potential business activities proposed for financing Ø Identify, evaluate and manage the environmental risk and the associated financial implications arising from these issues and concerns Ø Enhance the credit/investment risk appraisal process Approach The following approaches have been used to enhance environmental risk management: Ø Banks should be able to ascertain risks arising out of environmental issues Ø The practice should be directed towards addressing the focused environmental problem that is causing the risks. It should not be used as a tool to solve problems in general Ø The practice needs to be value adding to the customer and should not be policing in nature. Bank will work with the potential customers in a collaborative manner. Together, they should plan the business activity that will adequately address the environmental risk. Ø Bank...

Words: 2260 - Pages: 10

Premium Essay

American National Insurance Co.

...in stocks and real estate. The majority of revenues are generated by the insurance business. It is ranking among the largest of life insurance companies in the United States. Therefore, the life insurance continues to be the core product today through their long history. Various distribution systems are utilized, including multiple-line exclusive agents, independent agents, third-party marketing organizations, career agents, and direct sales to the public. As of September 2011, American National Insurance Company’s (Nasdaq: ANAT) total revenue was $3.04 billion. RISK FACTORS American National, being a leading insurance company, is also exposed to the numerous risks that might affect their operations and eventually lead to major losses. Described below are the risks and exposures that I have identified as being the most significant to this company: * economic trends * catastrophic events * risk of litigation and regulatory investigations * interest rate changes * a downgrade in financial strength ratings Economic...

Words: 3132 - Pages: 13

Premium Essay

Project Management

...MANAGEMENT Risk Management In Banks R.S. Raghavan < E X E C U T I V E ◆Risk is inherent in any walk of life in general and in financial sectors in particular. Till recently, due to regulated environment, banks could not afford to take risks. But of late, banks are exposed to same competition and hence are compeled to encounter various types of financial and non-financial risks. Risks and uncertainties form an integral part of banking which by nature entails taking risks. There are three main categories of risks; Credit Risk, Market Risk & Operational Risk. Author has discussed U M M A R Y > in detail. Main features of these risks as well as some other categories of risks such as Regulatory Risk and Environmental Risk. Various tools and techniques to manage Credit Risk, Market Risk and Operational Risk and its various component, are also discussed in detail. Another has also mentioned relevant points of Basel’s New Capital Accord’ and role of capital adequacy, Risk Aggregation & Capital Allocation and Risk Based Supervision (RBS), in managing risks in banking sector. effectively controlled and rightly managed. Each transaction that the bank undertakes changes the risk profile of the bank. The extent of calculations that need to be performed to understand the impact of each such risk on the transactions of the bank makes it nearly impossible to continuously update the risk calculations. Hence, providing...

Words: 8623 - Pages: 35

Premium Essay

Foreign Exchange

...vol. V, no. 2, 2008, pp. 81-91 FOREIGN EXCHANGE RISK MANAGEMENT PRACTICES - A STUDY IN INDIAN SCENARIO Sathya Swaroop Debasish Department of Business Management Fakir Mohan University Vyasa Vihar, Balasore - 756019 Orissa, INDIA ABSTRACT Indian economy in the post-liberalisation era has witnessed increasing awareness of the need for introduction of various risk management products to enable hedging against market risk in a cost effective way. This industry-wide, cross-sectional study concentrates on recent foreign exchange risk management practices and derivatives product usage by large non-banking Indian-based firms. The study is exploratory in nature and aims at an understanding the risk appetite and FERM (Foreign Exchange Risk Management) practices of Indian corporate enterprises. This study focusses on the activity of end-users of financial derivatives and is confined to 501 non-banking corporate enterprises. A combination of simple random and judgement sampling was used for selecting the corporate enterprises and the major statistical tools used were Correlation and Factor analysis. The study finds wide usage of derivative products for risk management and the prime reason of hedging is reduction in volatility of cash flows. VAR (Value-at-Risk) technique was found to be the preferred method of risk evaluation by maximum number of Indian corporate. Further, in terms of the external techniques for risk hedging, the preference is mostly in favour of forward...

Words: 5520 - Pages: 23

Premium Essay

Credit Risk Management of Dhaka Bank Limted

...INTERNSHIP REPORT ON CREDIT RISK MANAGEMENT OF DHAKA BANK LIMTED [pic] EXCELLENCE IN BANKING DEPARTMENT OF FINANCE & BANKING UNIVERSITY OF CHITTAGONG CHITTAGONG. CREDIT RISK MANAGEMENT OF Preface The banking sector of Bangladesh is dominated by commercial banks with huge debt burdens. Inefficiency in loan sanctioning, expansion of preferential loans, and poor classification and administration of loans has led to the slow recovery of credit extended by the banks. To restore efficiency and accountability in this sector, an effective credit risk management system is necessary. To manage credit risk efficiently Bangladesh Bank has provided a guideline for CRM. Besides, Basel Committee on Banking Supervision has set a guideline on Sound credit risk assessment and valuation for loan in order to encourage banking supervisors globally to promote sound practices for managing credit risk. This paper presents a comparative picture of credit risk management of Dhaka Bank Limited with Bangladesh Bank’s guidelines and Basel Committee for Banking Supervision’s (BCBS) guideline regarding Credit Risk Management. This report also provides an overview of the Credit Risk Management of DBL. In this report DBL’s credit risk management system is analyzed into three sections. First of all the policy guidelines have been analyzed and compared with Bangladesh bank’s guideline. After that the organizational structure & responsibilities have been analyzed...

Words: 10279 - Pages: 42

Premium Essay

Top 10 Risks in

...Top 10 risks in telecommunications 2012 About this report As the challenges and opportunities facing telecoms operators around the world continue to evolve, the sector’s risk universe is changing rapidly. And as companies formulate and execute their strategies to sustain and grow value in today’s fastmoving environment, they have to ensure that their understanding and management of risk keeps pace. Today, navigating through the sheer speed and scale of change presents challenges for all operators. We have produced Top 10 Risks in Telecommunications 2012 to help them map out the right path. This is the latest in our ongoing series of studies designed to pinpoint the most critical risk issues, analyze the sector’s evolving responses and highlight elements of emerging best practice. As in previous reports, we do not claim that the list of risks we present here is comprehensive. Also, by its nature, it can only provide a generalized snapshot of the risks that we — and the sector as a whole — see at this time. Given this, we would encourage you to read this report with an open mind and inquisitive attitude. Are these really the risks you face in your own business? If not, how and why are your organization’s risks different? And how do those particular risks impact you? The answers inevitably vary from company to company. But in every case, we believe that leaders should take the following steps: • Undertake a thorough risk assessment at least annually, to define your key risks...

Words: 11200 - Pages: 45

Premium Essay

Pnb Appraisal

...A Summer Training Report On CREDIT APPRAISAL & CREDIT RISK RATING At Punjab National Bank Submitted in partial fulfillment of the requirements of Master of Business Administration (MBA) Amity University, Gurgaon (Manesar) Under the Guidance of: Submitted By: Name: Mr. A.K. Rastogi Mohit Batra Senior Manager MBA: 3rd Semester A50050213025 Amity Business School Amity University Gurgaon SESSION 2014 – 2015 Preface While searching for a suitable topic for the MBA Dissertation, I Had gone through the various projects & books, ultimately settling On the topic credit appraisal and credit risk rating –A Study With Reference To Punjab national bank The topic inspired me, to go through the various books, articles, Reports etc. to know the process and also understand the real Issues plaguing the industry. All these aspects then resulted in the development of the project Report titled ‘credit appraisal and credit risk rating –A Study with Reference To Punjab national bank.’ It is strongly hoped that this project covers not only the various Requirements of the Project Study but also of the Industry . Acknowledgement I would like to express my profound gratitude to all those who have been instrumental in the preparation of my project report. To start with, I would like to thank the organization Punjab...

Words: 16947 - Pages: 68

Free Essay

Risk

...Credit Risk Management Ken Brown Peter Moles CR-A2-engb 1/2012 (1044) This course text is part of the learning content for this Edinburgh Business School course. In addition to this printed course text, you should also have access to the course website in this subject, which will provide you with more learning content, the Profiler software and past examination questions and answers. The content of this course text is updated from time to time, and all changes are reflected in the version of the text that appears on the accompanying website at http://coursewebsites.ebsglobal.net/. Most updates are minor, and examination questions will avoid any new or significantly altered material for two years following publication of the relevant material on the website. You can check the version of the course text via the version release number to be found on the front page of the text, and compare this to the version number of the latest PDF version of the text on the website. If you are studying this course as part of a tutored programme, you should contact your Centre for further information on any changes. Full terms and conditions that apply to students on any of the Edinburgh Business School courses are available on the website www.ebsglobal.net, and should have been notified to you either by Edinburgh Business School or by the centre or regional partner through whom you purchased your course. If this is not the case, please contact Edinburgh Business School at the address below:...

Words: 21029 - Pages: 85