INF80042-Risk Governance in a Technology Context Report – IT Computer Science Assignment Help

Assignment Task

Task 

Assignment: Risk Governance in a Technology Context

Task details
Risk governance applies the principles of good governance to the identification, assessment, management and communication of risks (International Risk Governance Council 2022).

Your task for this group assignment is to write a business report on the topic of risk governance by Small to Medium Enterprises (SMEs).
The importance of comprehending and governing risk is unprecedented. The acceleration of digital transformation and the impact of the COVID-19 global pandemic has expedited the uptake of digital processes and hence amplified the need to understand the issue of risk governance further. However, many SMEs are wary of embracing the latest technology for a number of compelling reasons and these types of organisations are lagging in their comprehension of the various implications of risk to their organisations. This could be attributed to the lack of skill, resources, investment funding and ignorance of current and/or emerging digital tools and processes. Recent studies show that SMEs need to ‘manage’ risk as part of their daily business operations and this is where governance (the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled within the organisation) becomes critical.

To complete this task your group should:
1. Select an industry that you are going to focus upon. Common industries include transport, manufacturing, retail, banking & finance, education, healthcare and travel but you are not limited to these. Check with your tutor if your group wishes to suggest another industry.
2. Select a particular digital business process of interest within that industry which is commonly used by SMEs.
3. Review the overall industry practice when it comes to digital business processes (all areas of business) using the Osterwalder et al. (2010) Business Model Canvas framework. See also Business Model Toolbox (2022).
4. Focus on an industry practice and digital business process appropriate for SMEs.
5. Identify areas where the current digital business processes may facilitate risk vulnerabilities for SMEs.
6. Use appropriate case studies of SMEs and literature from academia and industry to support your discussion.
7. Propose advice for SMEs to improve their digital business processes which offers risk strategy and mitigation approaches for SMEs moving forward. 

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