The Requirement Here Is To Answer The Following Question

The Requirement Here Is To Answer For the Following Questions

The requirement here is to answer for the 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? Need to write in about words.

Paper For Above instruction

Introduction

The healthcare industry continually evolves with organizations frequently expanding their services to better meet patient needs and enhance operational efficiency. When a medical group considers venturing into a new business, such as owning and operating a pharmacy, it must undertake comprehensive risk assessments to safeguard its reputation and ensure sustainable success. This paper explores how such a venture can pose potential risks to organizational reputation, opportunities for enhancing reputation through strategic initiatives, the role of Key Performance Indicators (KPIs) in measuring improvement—particularly within Human Capital—and distinguishes traditional risk management from enterprise risk management (ERM).