Telecom Operators The Company's Overall Risk Management

This essay elaborates all kinds of conceptions relating to risk and enterprise risk management at first and puts on the stress on the research of the frame contents of full range enterprise risk management. The core of full range enterprise risk management is composed by two sectors: 1). The system of full range risk management; 2). The procedure of full range enterprise risk management. The system of full range risk management includes the following five elements: a). risk strategy which guides overall activities of entire enterprise's risk management; b). the organizational function of risk management which carries out the function of risk management; c). the internal controlling system which ensures the smooth execution of risk management; d). the information system of risk management which is applied to improve the efficiency and result of the risk information collection, analysis and the transfer; and e). risk finance management. The procedure of full range risk management includes: a). the establishment of comprehensive information frame; b). risk assessment; c). risk strategy formulation; d). design and execution of the risk management which is able to solve the problem and e). monitor and improvement.Furthermore, this essay reviews the development of risk legislation and its execution at home and abroad.The second section of the essay analyzes the typical cases of the risk which China Telecom and foreign Telecoms have experienced. According to the two dimensions of the risk which the China Telecom Operation Corporation is facing, it analyzes respectively and systematically the external risks which covers the economic risk, natural risk, political risk, social culture risk, technical risk; and the internal risks which covers the strategy risk, finance risk, investment risk and human resource risk and puts forward that the establishment of the full range risk management system for a healthy corporation is the pressing request of the development of the enterprise.Since the full range risk management and management process are of a huge system engineering, the essay is not able to be in the position to cover all problems. With reference to the Telecom Operation Corporation the third section puts the stress on the most important part in the risk management system - the practical application of the risk assessment, emphases the research of core risk among them.According to the methodology of the full range risk management assessment, the essay has undertaken the risk screen, risk assessment, core risk analysis, and risk management assessment, and has judged and analyzed the current significant risk which the China Telecom is encountering.Finally, through the research this essay identified 18 significant and core risks of one Telecom Operation Corporation. Meanwhile, following the origin of the risks (external and internal) and interface among the risks, it has established the model of the qualitative analysis of significant risk, and elaborated respectively the catalogue of risks, relationship among risks and influence of risk.