[SOLVED] Risk Control and The Law

All organizations face uncertainties and challenges arising out of unforeseen situations that present both risks as well as opportunities. However, the ability to control such risks is directly dependent on the organizational ability and the manner in which the management develops strategies that maximize its value.Another significant purpose behind risk control is enhancing the ability and performance of organizations and enabling it to dispense its usual course of activities and services in the most efficient manner possible in order to achieve its corporate mission. The absence of critical risk management policies or the lack of proper implementation of effective measures might lead to setbacks to the organizations leading to failure to achieve economic goals and affecting the overall competitive positioning of the organization in the industry. This essay on Risk Control and Law deals with various aspects of enterprise risk management and discusses the manner in which an organization, here, Toyota Motor Corporation, manages risks. the various obligations arising out of it. as well as the strategies adopted and remedies developed by the organization in order to minimize the impact of such risk on the organizational performance.The Toyota Motor Corporation is a multinational corporation headquartered in Japan and is ranked as the largest auto manufacturing companies in the world (The Washington Post, 2009) besides being a key player in the automobile industry. It boasts of a worldwide network which includes a host of ancillary business activities and production bases in North America, Europe, and Asia. The auto giant has a flair for developing revolutionary products and has always been at the forefront through continuous research and development activities. The company was the first auto manufacturer in the world to develop a hybrid car The Toyota Prius in compliance with the organizational motto of manufacturing green and sustainable products.

 

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