Discuss about risk management framework for this case?

1 What are the prospects and consequences for Blue Wood if it carries on the way it has been?

2 What are the main challenges in developing and implementing a risk management framework for Blue Wood? How does the ownership structure affect these challenges?

3 If the company is to develop a risk management framework, who should lead the process? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role for the Board in such a process?

4 Provide pros and cons in a different paragraph.

Keep It original- NO PLAGARISM

References:

Fraser, J., Simkins, B., & Narvaez, K. (2014). Implementing enterprise risk management: Case studies and best practices. John Wiley & Sons.