Really Drives Employees Engagement †Free Samples to Students

Question: Discuss about the Really Drives Employees Engagement. Answer: Introduction: There are different categories of risks in the case study. These risks are distributed as financial, business, technology, and business continuity together with regulatory. In this section, we focus on analyzing the risks as well as determine their likelihood of occurring (Ryan Deci, 2017). In case they occur, we analyze their impacts along with risk rating. First, business risk and their consequences include negative comments in social media thereby resulting ina significant loss of reputation and loss of fees for the clients. Again, the risk of failure to diversify clients base results in massive loss of revenue. Third, the risk of loss of key staff members in the organization may result to loss of business continuity, loss of clients as well as loss of business intelligence to conduct business operations (Richard, 2013). Fourth, the risk of failure to deliver quality services and products may result to increase the number of claims from the clients, full scrutiny of products and services by regulation (McGregor, 2012). It may as well damage the image and reputation of the organization. The likelihood of business risks occurring is likely and the consequences are major to the organization. In addition to business risks, there is business continuity risk. This risk occurs when an organization loses the ownership. In that case, the consequence of this risk is a failure of diminution in the value of the organization because the owner of the organization die or become incapacitated (Maslow, 2013). The likelihood of this risk is possible and the consequence is catastrophic. Again, regulatory risk occurs due to failure to meet regulatory meeting thereby resulting to breach of a contract associated with huge fines and costs (Marylene, 2014). The likelihood of this risk occurring is unlikely but the consequences are major if the risk occur. Lastly, financial risk as a result of failure to collect receivable in appropriate time may results to loss of revenue, increased debt and unstable cash flow. The risk is likely to occur and the consequences are major. There is need to involve all stakeholders on how to implement risk actions and risk management plans. The following minutes demonstrates what was deliberated in the meeting with stakeholders. A minute of the meeting held on 4thMarch 2018 at Social Hall at 2:00 P.M. Finance manager Human resource manager Legal compliance manager Business controller IT manager The agendas were to discuss the implementation of risk action and risk management plans. Item 1: Implement the action to avoid negative comments in social media In this plan, all the stakeholders decided to initiate a program that will review how to improve the image and reputation of the organization (Thomas, 2009). The business controller would manage that process and it was to be implemented within 2 months. Item 2: Implement action to avoid poor quality products and services This action would bring a significant improvement to the organization. The human resource manager was required to recruit qualified workers within 1 month. Item 3: to reduces case of failure to collect receivables All stakeholders were requested to share this information to avoid loss of revenue, uncollected debts and other financial crisis (Kanungo Manuel, 2014). The finance manager was to conduct a financial audit within 1 month. Later in the meeting was adjourned at 5: 00 P.M. These plans will be implemented using several approaches. First, all stakeholders must come up with a proposalin the implementation process. This will ensure the plans are viable. Second, the weekly review of the implantation process must be initiated to determine ups and downs in the process (Arnold, 2010). The last method will be filing reports monthly and should be submitted to risk management department for scrutiny and approval. The progress of Actions Plan The progress of the impel nation process for action plans will be done weekly and monthly. All stakeholders involved in a particular plan must compile a report on progress and the way forward. References Arnold, J. (2010). Coaching Skills for Leaders in the Workplace: How to Develop, Motivate andGet the Best from Your Staff. How to Books. Kanungo, R.N., Manuel, M. (2014). Work Motivation: Models for Developing Countries. Sage Publication put. Marylene, G. (2014). The Oxford Handbook of Work Engagement, Motivation and Self-Determination Theory. OUP USA. Maslow, A.H. (2013). A Theory of Human Motivation. Start Publishing LLC. McGregor, D. (2012). The Human Side of Enterprise. New York, 21. Richard, A. (2013). Job Satisfaction from Herzbergs Two Factor Theory Perspective. Grin publishing. Ryan, R.M., Deci, EL. (2017). Self-Determination Theory: Basic PsychologicalNeed in Motivation, development,and Wellness. The Guilford Press. Thomas, K.W. (2009). Intrinsic Motivation: What Really Drives Employees Engagement. Berret-Koehler publishers.