Undertaking risks entails the heartbeat of an organization. As well, an organization seeking to ensure market dominance is dependent on the risk taking activities. Nonetheless, risks are viewed as hazards that may lead to the possible potential of ineffective management of organizational operations. Therefore, from the analysis of companies such as Wal-Mart, the need for a comprehensive risk management plan is essential in their diversification of operations. Undertaking a market entry research should prevail through the analysis of the diverse risk management aspects that may impede on the success of the business. The emphasis on identification, reporting, integration and continuity management are essential components of the risk management plan that can ensure positive outcomes. Therefore, this paper will evaluate the risk management plan for Wal-Mart in implementing a unique supply chain in China.
Description of Goals, Tools, Techniques, Roles and Responsibilities