Risk Management Process: Telstra Corporation (Term Paper Sample)

Risk Management Process: Telstra Corporation
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Executive Summary
Many businesses might pose numerous threats as they go about their everyday operations. A significant number of companies operating in the telecommunications industry are in jeopardy. This study will focus on Telstra Corporation, a significant participant in the telecommunications business in Australia. The study will investigate the company's plan for dealing with the various challenges presented by these risks that face the organization. Telstra Corporation is familiar with a number of the threats described in this report. It has already encountered some threats and suffered substantial financial loss and reputational damage.
On the other hand, Telstra places a high focus on risk management and takes great care to secure any information it possesses about the firm's operations in any way it can. The study devotes a significant amount of space to analyzing Telstar's strategy for risk management. Telstra Corporation's methodology to manage risks is laid out at great length, as is the organization's capacity to spot a wide variety of threats directed at the business. The purpose of risk assessments and evaluations is to guide mitigating risks and ensure that hazards do not result in unfavorable outcomes by analyzing and assessing various potential dangers.
Risk Management Process: Telstra Corporation
Introduction
In recent decades, the telecommunications industry has been subjected to various high-level threats, each of which has resulted in significant financial losses. As a direct consequence of this, several telecom companies have been forced to shut down their activities. On the other hand, some people have been forced to pay enormous penalties due to the implications of losses sustained as a result of certain hazards. The Telstra Corporation is not an exception; it has found itself in the middle of a crisis numerous times over the years. As a result, it has been forced to pay fines of up to fifty million dollars owing to unfair marketing and sales practices. On top of all of that, Telstra was recently the target of a cyberattack, which resulted in disclosing sensitive information about the company's customers. Consequently, this research looks at Telstra Corporation's attempts to address a wide variety of industry hazards and operations, which are a source of contention in the telecommunications sector. In this article, Telstra presents its methodology, which may be followed step-by-step to ensure that the threat does not have any additional adverse effects.