Risk Management Issues and Challenges

free essayBusiness entities have a duty of ensuring that they come up with goals regarding the quality and risk associated factors. The same arises out of the need to ensure that the organization is prepared for any eventuality likely to occur. Most of the organizations that have failed to come up with specific goals when it comes to quality and risk management system have been on the losing end, especially when they meet challenges.

The first challenge is the identification of the potential risks. Most organizations have been unable to cover efficiently for the risks related to the activities that they conduct. The inability to identify all of the risks makes it difficult for the organization to prepare for them if they are to occur (Begg, von Neudegg, Miles, & Israelson, 2013). Therefore, it becomes mandatory for the organization to be on the lookout for the risks that might arise.

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The other challenge that organizations might encounter in setting quality and risk management goals is the inability to prioritize the possible risks appropriately. In any given organizational setup, the issues that arise have different effects on the operational activities of the organization. Consequently, the organization must identify the impact that each of the risks has on the organization and introduce measures to counter them. However, many organizations are unable to identify such risks regarding impact, which results in significant challenges in dealing with them efficiently (Frankland et al., 2013). Nevertheless, such issues can be addressed through proper training of the personnel in charge.

The Link between Improvement Goal Statements and Actions to Get Desired Results

Organizations must come up with goals that would help them in improving their standing when it comes to business. For the same reason, there is a need to find the improvement goals that would serve the purpose of taking the organization forward, considering the objectives in place. There is a link between the goals that the organization has set and the actions required to achieve the necessary results (Foss & Lindenberg, 2013). Upon setting the organizational goals, it is required that appropriate measures are in place, which will help in their realization. Consequently, there are critical components that the organization should have to help in their achievement. The first regards the people who would assist in the implementation of such objectives. Therefore, it is obligatory that duties be assigned to everyone to assist in achieving the set goals.

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The actions of the designated persons would be vital in helping achieve the desired goals. The link that comes in is that without proper implementation strategies, it would be difficult to achieve the goals. The individual actions related to these goals should be carefully assessed to assist in ensuring that the company gets the desired objectives (Frankland et al., 2013). If it happens that the organization does not set the goals, it is difficult to achieve the results in the long run. Further, the set improvement goals must be accompanied by the responsibilities assigned to designated persons to help in the achievement of the desired outcomes.

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Advantages and Disadvantages of Goal Statements

Goal statements are of significance in any given organizational setup. The first benefit of a goal statement is that it serves to provide direction for the organization. The goal statement stipulates what the organization aims to achieve after a defined period. The benefit of a goal statement is that it provides a purpose for the organization. Lack of a goal statement makes it difficult for the organization to operate since they would be doing business without meaning (Frankland et al., 2013). Furthermore, goal statements help in providing a framework for decision-making. In any given organizational setup, there is the need to make decisions. With the goal statements in place, the organization can make decisions based on the objective statement. Therefore, it is a confirmation of the importance of such in an organization (Lencioni, 2012).

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However, goal statements present some disadvantages in other instances. The first disadvantage regards the issue of time and resource wastage for the organization. Coming up with a goal statement entails a long and tedious process where the organization’s management has to meet and deliberate on finding a good goal statement. In the meetings set up by the organization, significant amount of time and resources is wasted by the company. It becomes worse if it happens that the organization fails to achieve the goals that may have been set. It would have spent a lot of time in drawing a statement that in the was not accomplished long-run. In light of this, there is need to consider the potential disadvantages that arise with the goal statements that are set.

Conclusion

Overall, there is need to understand the goals as a way of making it to achieve them. Further, it would be possible to mobilize the rest of the team in working towards realization of the set goals.