Class – Please review Chapter 5: ERM in Practice at the University of California Health System Case and provide response for following questions.
1. Your medical group wants to expand by starting a new venture, owning and operating a pharmacy. In order to increase the chances for success, you have been asked to perform an enterprise risk assessment that includes reputational risk. Give three examples of how starting a new venture might have risk events that could lead to repercussions that would negatively impact the organization’s reputation and three examples where it might be enhanced, creating opportunity.
2. Explain how improvement is measured with KPIs and give one example related to Human Capital and how this KPI might help you improve your organization.
3. What do you think is the difference between traditional risk management and enterprise risk management?
You are required to respond to the questions thoroughly, in 500 -to-800 words for each question. Be sure to include at least 4 reference sources. APA rules for formatting, quoting, paraphrasing, citing, and listing of sources are to be followed.