Assignment 3_Risk Management_Kristen Eno

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1 Business Proposal and Risk Management Kristen Eno American Public University MGMT 311: Organizational Behavior Dr. Mike Ammons July 17, 2022

2 Business Proposal and Risk Management The proposal for my project focuses on career progression opportunities, educational advancement opportunities, and morale and team building events. Multiple articles show that opportunities for career progression promotes a creative environment and enhances quality of work in employees. Many people often get stagnant in their careers which causes a decline in work quality. Not only does it build creativity and competition, but it motivates the employee to show how well they can perform. Secondly, opportunities to advance one’s education is important to many, and they may work harder if there were scholarships offered by the company. Numerous people go through their adult lives without the opportunity to advance their education, a scholarship opportunity would help them personally and be a motivator in the workplace as well. The company could even extend the offer out to the employees’ family for added incentive to the program. Team building exercises and recreational activities are proven to increase morale and cohesion inside the organization. Risk management is a huge piece creating business proposals. It is imperative in order to make sure that it will not be a liability to the company or organization. Risk management is identifying, assessing, and mitigating risk to a business or organization. After mitigating a risk, a company can either accept the risk or deny it based off the risk level. Potential Risks of the Aspects of the Business Proposal First, we will talk about any risk associated with career progressing opportunities. The first potential risk could be financial due to the assets it would take to procure training, training materials, and possible travel costs for training employees. One of the variables that we can use to mitigate this risk is to ensure that our employees will attend the training, so we do not waste assets. Also, we could try to do the training in house instead of branching out to limit assets

3 getting put into the pool. Secondly, I will discuss any risks related to offering scholarships to employees for college. Offering scholarships is something that falls under financial and deals heavily with the IRS. A company that is offering scholarships or grants must take precaution to ensure IRS approval. IRS approval is of utmost importance to a company especially when it deals with charitable funds. Without IRS approval this would not be possible for the company, or it is employees. “To qualify for IRS approval, employer-related scholarship programs must provide evidence scholarships are awarded to further the recipients’ education, rather than to compensate employees, and to ensure that recipients are truly deserving by objective standards” (FEI Daily, 2014). Lastly, we will discuss risks involved in recreational morale building activities. One significant risk is injury, which would be covered by workman’s compensation. In some states they have excluded injuries that are correlated with “ "voluntary participation in any social or recreational activities, including, but not limited to, athletic events, parties, and picnics, whether or not the employer pays some or all of the cost of such activity” (HR & Safety, 2012). A company could do a case-by-case risk assessment per activity to mitigate any liability to the company. When it comes to activities regarding sports the risk could be limited by checking equipment, ensuring the weather is clear, and inspecting areas that the event will take place. One sizeable step is running everything through your organization’s legal team. Conclusion In conclusion, we have summarized the proposal, risk management, and associated risks with the proposal and ways it could be mitigated. Risk management is imperative to keeping a plan and it is organizational successful. An organization will not be risk free there’s always big decision making when it comes to mitigated risks and accepting or denying the risks.

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4 References How Not to Fail at Employer-Related Scholarships. Daily.financialexecutives.org. (2014). Retrieved 18 July 2022, from https://daily.financialexecutives.org/fail-employer-related- scholarships. Workplace Recreation Risks and Benefits | - CBIA. CBIA. (2012). Retrieved 18 July 2022, from https://www.cbia.com/news/hr-safety/workplace-recreation-risks-and-benefits/.

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