Learning Outcomes TO BE Assessed IN THIS ASSIGNMENT (information only):
- Understand the all encompassing nature and importance of risk management, evaluating the external and internal influences on approaches to risk management and appreciating the importance of disaster scenario planning in today’s economic environment.
- Use of both quantitative and qualitative techniques in order to evaluate and manage risk.
- Acquire and present evidence of the ability to select and order content in order to present a sound academic and practical argument.
- Display elementary numeracy and quantitative skills, including data analysis and interpretation.
- Plan efficiently and manage independent study, including improved time-management and self-motivation skills.
- Communicate effectively, orally and in writing, conceptually challenging concepts and ideas.
It may be that, due to the possible diversity of student response, learning outcomes will be covered to differing / varying degrees by each student.
CASE STUDY: Sports Direct
Sports Direct’s website provides the following description of the organisation:
The Group commenced trading as a single store in Maidenhead, founded by Mike Ashley in 1982. We have now expanded to become not only the UK’s leading sports retailer by revenue and operating profit, but also the owner of a significant number of world famous sport, fashion and lifestyle brands.
Currently we operate c. 420 sports stores in the UK alone, the majority of which trade under the SPORTSDIRECT.com fascia. Alongside our retail outlets, www.sportsdirect.com provides a full multi-channel approach to improve your shopping experience. Customer service is at the forefront of our business, and is key in enabling us to retain our position as Consumers’ Champion. As we continue to offer excellent value on sports equipment, clothing and sportswear, we are always pleased to receive feedback from you.
An example of the press reporting of Sports Direct is provided after the assignment brief below.
Assignment brief
Using your knowledge of Risk Management, you are required to systematically approach the following task:
You are a graduate consultant working for a large risk management consultancy, and have been asked to prepare a report from your consultancy to the Sports Direct risk management team (comprising several senior individuals within the organisation), covering the following items:
- Identification of, using appropriate models/classifications, the major risks that face Sports Direct within the foreseeable future.
It should be remembered that the identified ‘risks’ may present opportunities or threats/hazards. You should ensure that you present well-researched and well-referenced evidence, from multiple sources. Assignments relying on too few sources are likely to be penalised.
- A structured assessment, using a risk map or risk matrix, of the impact of the identified risks and the likely occurrence of these risks.
Ensure that you provide a full rationale for the ‘positioning’ of each risk.
- Recommendation of strategies or controls to manage the significant risks identified for Sports Direct in part (b). Your answer should tackle a minimum of THREE risks, which may be opportunities or threats to the group.
For all suggestions ensure that you justify your recommendation with reference to the costs and benefits of such proposals, and only suggest those that would be appropriate to Sports Direct. The strategies/controls do not need to be currently in use at the organisation, though this may be the case.
Further case study information
Much criticism has been directed at Mike Ashley, the owner of Sports Direct, for his running of the firm, in particular with regards to the operations at its main warehouse.
Sports Direct: Mike Ashley repeats defence of firm
BBC News, September 20th 2016 [abridged].
The under-fire sportswear firm has been criticised for its working practices – especially in its Shirebrook warehouse – and its zero-hours contracts. Earlier, the firm announced that its second review of working practices would be run by an independent body. The new “360 degree” review had been due to be led by the firm’s lawyers.
RPC produced the first look into the way the firm was run after MPs said working practices at the Shirebrook warehouse in Derbyshire were closer to “that of a Victorian workhouse than that of a modern High Street retailer”. But Sports Direct said the change of heart in not using them again had come after “shareholder feedback” and “subsequent consultation with a number of the company’s long-standing shareholders”.
The decision produced a positive response. Steve Turner, assistant general secretary of the Unite union, said: “At last Mike Ashley and his board have grasped that they need to take some very serious steps to restore shareholder, consumer and worker confidence in their employment practices. “We have always urged, as we did at this year’s AGM with the backing of investors, that an independent review is a vital component of this company truly getting to grips with its many and serious employment problems, so we are pleased that the company has now seen sense.”
Speaking on BBC Breakfast, Mr Ashley had been keen to stress the positive aspects of working for the company and the firm remains keen to present a better image. He said it had paid a total of £200m in bonuses in the past five years and added: “The cleaning lady got an £80,000 bonus on top of her normal pay – nobody in the UK has done that.” He has highlighted the firm’s additional remuneration scheme in recent years. In July 2014, Sports Direct’s shareholders voted in favour of a bonus scheme to benefit up to 3,000 employees as well as Mr Ashley, although he quickly withdrew from it.
However, he also admitted his lack of intimate knowledge of the running of the business was an issue after the spotlight fell on working practices at the Shirebrook warehouse during the summer. It was discovered staff were earning below the legal minimum wage because they were kept for near-strip searches on their way home after their paid shift had ended.
Further assignment information
- Your answer should be submitted FOR THE ATTENTION OF
- Submission of this assignment should be in two formats:
- A hard copy must be handed into the Student Advice Centre by the above deadline, and
- An electronic version must be submitted through TURNITIN (via Blackboard) also by the above deadline.
- You must ensure your name is NOT visible anywhere on the Assignment when submitting the assignment.
- The submitted assignment must include the following information:
- Your student P number
- The module code (ACFI2306)
- The overall assignment should be of no more than 2,000 words in total, with a penalty of 10 marks if the word count exceeds 2,200 words (10% above the limit).
- Note that the contents page, list of references, Executive Summary and any report appendices are not included in the word count.
- All of the usual University regulations will apply with regard to the late submission of work and plagiarism – see the module handbook for an outline of certain areas.
| Assessment Criteria | % of total marks |
| · Presentation – Report structure and presentation – Language appropriate to report audience | 10 |
| · Part (a) – Identification of risks – Classification and use of categories | 25 |
| · Part (b) – Preparation of risk map (with rationale) – Use of risk map | 20 |
| · Part (c) – Strategies/controls (fully described) – Consideration of costs and benefits | 35 |
| · Referencing | 10 |
| TOTAL | 100 |
Additional guidance note:
The assignment will not be assessed on the ‘quantity’ of risks identified but on the quality of the work in identifying and assessing the ‘risks’. No guidance will be provided as to the number of risks to b
