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本篇paper代写- Question of risk management讨论了风险管理的问题。对于21世纪的企业来说，风险管理是一个需要识别、预测和制定一些管理风险的措施，然后选择有效的方法来降低成本和仔细的计划来应对风险的过程。为了在经济中获得生产的安全，要求企业识别和预测各种风险是如何发生的，以及如何管理生产经营过程中的负面影响，使生产得以继续。由此可见，识别、预测风险和管理风险是企业风险管理的三个主要步骤。在人们进行风险管理的时候，法律问题、伦理问题和可持续性对风险管理有着重要的影响。本篇paper代写由51due代写平台整理，供大家参考阅读。

Introduction

risk can result in different sources such as uncertainty ,complexity , threat from some project failure , accidents because of natural disaster and deliberate attacks(Doug Hubbard,2009,p46).Many strategies are mapped out to help us to impel risks into opportunities while “Your biggest risk is that your risk management methods probably don’t work”(Doug Hubbard,2009,p1). The paper emphasizes the importance of legal , ethical and sustainability dimensions of risk management by choosing and mainly analyzing several typical cases and famous companies in tourism , events as well as hospitality. From the three particular contexts , readers can get a special perspective to deal with risks and deeply realize the importance of risk management .What’s more,readers can generally know how to take advantages of legal ,ethical and sustainability issues to avoid the loss or reduce the negative effects . Finally , the essay can help people put in place effective monitoring and make people control processes then they can respond quickly and effectively to safeguard the benefit and reduce the threats .

The Legal Dimension of Risk Management

Facing with the risks , people can find that it is effective to avoid risk by using legal method.But deficient knowledge of laws and principles of the other countries , risks directly reduce the profits and relative reputation and brand value are also influenced and decreased .For example , one person would not purchase a property or other things that are not allowed in accordance with the laws or principles in order to not take on the legal liability that comes with it . In addition, there is a explosive event that the German car-maker Volkswagen was involved in the diesel emission scandal and its brand image was decreasing after the investigation that was lead by the U.S. Environmental Protection Agency unveiled the software which helped the car made by Volkswagen escaped the strict test and left the emission of the diesel car up to 40 times the pollution limits .These illegal emissions cause a loss almost 39 billion US dollars, which is 5.3 times larger than the 7.3 billion US dollars that Volkswagen Group spends to cover the cost of diesel emissions scandal(Rik Oldenkamp et al, 2016,p121) .So facing the events , the relative laws can help the companies or common people to safeguard their own benefits while the companies would get into trouble or losses if they violate the laws and principles in the process of risks management .

In the modern era , the system of laws and principles is much more complete than before. People can learn the standards and get the guidelines , such as ISO 31000,one of the most authoritative standards,which is to provide new principles and guidelines on risk management(Purdy,,2009,P881). Meanwhile , contract is also a common form in legal dimension to manage risks .According to the legal issue , managers can firstly identify the level of risks and realize the importance of risk management plan and then mitigate the influence of risks .

The Ethical Dimension of Risk Management

The ethic is a general idea or belief that influences people’s behaviour and attitudes . There are 7 principles including dignity , prudence,honesty, goodwill, openness and avoidance of suffering, which all guide ethical behaviors . Besides , business ethics is a part of the corporate culture and guides a corporation’s behaviour within society.   Business ethics would have a great influence on the internal control of enterprises and the implementation of risk management . Human moral factors not only have a influence on themselves, but also have an important influence on the morality of the people in the organization, which is of great significance to the internal control and risk of the organization .However, just as Adam Smith said ,“People of the same trade seldom meet together , even for merriment and diversion , but the conservation ends in the conspiracy against the public , or in some contrivance to raise prices.”(Adam Smith , 1776，p.55) , the interests of the company are not fully consistent with personal interests.For example , in the hospitality , the doctor-patient relationship has evolved over thousands of years and still a hot topic in the modern time . Once the patient had gotten into trouble because of the doctors’ errors or mistakes ,the relative hospital and doctors would regard the patient as a “threat＂or “risk”. ( Kraman,2000,p253). In the tourism , moral factor is especially important.The characteristics of the tourism, such as the inconsistency of the employment system of tour guiders, the defects of the wage system, the lack of career ambition of the tour guiders, and the imperfect supervision mechanism, result in the moral hazard of tour guiders .And the existence of moral hazard of guiders make it easier to create a crisis of trust between tour guiders and tourists, and this kind of trust crisis ultimately damages the interests of travel agencies. Therefore some measures should be taken to prevent it. However , not all the managers can realize the importance of the ethics and pay much attention to moral factors and the moral factors can play a great role in risk management ,especially during the trust crisis .

The Sustainability Dimension of Risks management

Sustainability is a process by which individuals or entities seek to integrate and produce balance among competing objectives in economic, environmental and social factors. But it is difficult to achieve a sustainable development on our daily life . Sudden events often bring a large business disruption to the business or organization, resulting in significant economic losses and seriously social impact.Economic, physical and deliberate disaster risks are always the main part of disaster effect assessments(Schipper & Pelling,2006,p19) Climate change , as a big threat to sustainability , draws more attention.But with more adaptive and effective measures coming into force ,many actions can contribute to prevent the climate change and more people would benefit from them and the our business can achieve the sustainable development. (Hay et al. 2003).Meanwhile,with the rapid development of information technology, it is more necessary to build a truly effective response to the crisis of the business and establish more effective and sustainable system of risk management so that it can ensure the continuous operation of the business and achieve a sustainable development. Nowadays , in addition to the financial bottom line ,corporations are also being pressured to undertake the due obligation and solve the controversy between environment and economy(Strange Tracey&Bayley Anne ,2008).Therefore , it is the duty for the companies to protect the balance between profits and environment . At end , it can achieve a sustainable development . Therefore building a truly effective business crisis management system is not only effective to manage risks ,but also ensures the continuous operation of the business to achieve s sustainable development.

Conclusion

For the enterprises in the 21st century, risk management is through the process that needs to identify, predict and make some measures to manage risks and then choose effective means to minimize costs and careful plans to deal with the risks.In order to get the safety of the production in the economy, the companies are required that they should identify and predict how the various risks occur and what they can do to manage the negative impact in the production and operation process, so that production continues. Therefore it can be seen that  identifying, predicting risk and managing risk are the main three steps of risk management for the companies.While people are managing the risks , the legal issues , ethical issues and sustainability have a great influence for risk management . When we realize the importance and take advantage of them , they can improve our method to manage risks in the tourism , event and hospitality .

References

1. Hubbard, D. W. (2009). The failure of risk management: Why it's broken and how to fix it. John Wiley & Sons.

2. Taylor, C., & VanMarcke, E. (Eds.). (2002). Acceptable Risk

3. Purdy, G. (2010). ISO 31000: 2009—setting a new standard for risk management. Risk analysis, 30(6), 881-886.

4. Smith, A. (1827). An Inquiry into the Nature and Causes of the Wealth of Nations (No. 25202). Printed at the University Press for T. Nelson and P. Brown.

5. Kraman, S. S. (2001). A risk management program based on full disclosure and trust: Does everyone win?. Comprehensive therapy, 27(3), 253-257.

6. Schipper, L., & Pelling, M. (2006). Disaster risk, climate change and international development: scope for, and challenges to, integration. Disasters, 30(1), 19-38.

7. Hay, J., & Mimura, N. (2006). Supporting climate change vulnerability and adaptation assessments in the Asia-Pacific region: an example of sustainability science. Sustainability Science, 1(1), 23-35.

8. Hay, J. E., & Hay, J. E. (2003). Climate variability and change and sea-level rise in the Pacific Islands region: a resource book for policy and decision makers, educators and other stakeholders. Tokio, Japan: SPREP.

9. Tracey, S., & Anne, B. (2008). OECD Insights Sustainable Development Linking Economy, Society, Environment: Linking Economy, Society, Environment. OECD Publishing.

10. Finkelstein, D., Wu, A. W., Holtzman, N. A., & Smith, M. K. (1996). When a physician harms a patient by a medical error: ethical, legal, and risk-management considerations. The Journal of clinical ethics, 8(4), 330-335.

11. Oldenkamp, R., van Zelm, R., & Huijbregts, M. A. (2016). Valuing the human health damage caused by the fraud of Volkswagen. Environmental Pollution, 212, 121-127.

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