Business Finance Homework Help

The case study that is more interesting for me is Daisy Company. Daisy is a skincare company that is well known for manufacturing personal care products that are of high quality. Daisy’s care is located in Houston, U.S. This company was established in the year 2009 and started working hard to increase its demand in the market. Slowly they started creating their product and we’re getting a better response. The company is now able to sell its product across 85 countries and different union territories around the world. The company’s net worth in a year is around $15 billion.

Daisy skincare is now providing gentle herbal cosmetics products also that are responsible for maintaining the natural color of skin. It consists of cosmetic product that is based on active natural skincare ingredients (Maria, 2016).

The company also has a committee that is usually designed for managing corporate risk. Daisy’s care consists of eight members in their group. These members are the president of the daisy brand, CEO, CFO, and the head of HR. it also has several subcommittees that have different strategic approaches towards the proper functioning of Daisy skincare. They are planning strategically in business operation, risk, research, new product innovation, and financial support. All these subcommittees working under Daisy Company contain 10-12 members. Also, these committees contain extra members who are well-disciplined and multitasking approaches that can easily identify the risk within the business. At the end of every year, the CRO of the company tries to identify the risk that can become a threat for the company as well as prepare a chart for the escalation of the risk to the CEO, Audit team, and many more (Maria, 2016).

ERM allows any company in mitigating the effect of the risk and maintaining its capital as well as earnings. Using this process of ERM daisy skin Care Company can identify and analyze the critical risk of the company that can affect the company and restricts them in accomplishing its goals. Daisy adopted the ERM process and tries to deal with the major risk in some areas such as competitors, emerging markets, tools and techniques, human resources, and many more. The CEO of daisy company find out the way to drive the strategy of ERM integration and thus it requires changes in every direction for the proper integration with the ERM strategy. Daisy has several different subcommittees and therefore it created 7 operational different committees where many professionals were holding the position of risk owners. These all operational committees were chaired by the various senior management members of different strategies (Maria, 2016).

Daisy skincare realized the importance of the strategy of ERM and also the strategy of initializing ERM from the beginning. The process of ERM and the different strategies for integration has rapidly grown over time. The continuous growth of ERM results in giving consistent support from the professionals who are at the top level (Maria, 2016).

Reference(s)

Maria, H.(2016). Enterprise Risk Management Initiative. erm.ncsu.edu

https://erm.ncsu.edu/az/erm/i/chan/library/Integration_of_ERM_and_Strategy_Case_Study.pdf