University of Central Missouri Blue Wood Chocolates Discussion Question

Chapter 18 presented special risk management issues with Blue Wood Chocolates and chapter 19 presents various financial risks at Kilgore Custom Milling. If Blue Wood Chocolate and Kilgore Custom Milling are to develop a risk management framework, who should lead the process at each company? 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 of the board of directors in such a process?

Assignment Requirements:

Create a new thread with 700 words, be clear and concise!As indicated above, if Blue Wood Chocolate and Kilgore Custom Milling are to develop a risk management framework, who should lead the process at each company?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 of the board of directors in such a process?

Select at least 2 other students’ threads – no more than 150 words each.Post substantive comments on those threads by evaluating the pros and cons of that student’s recommendations.Your comments should extend the conversation started with the thread.”I agree” is not enough.

Please NOTE: These discussions are NOT meant to be research papers but rather somewhat informal dialogue. However, if you paraphrase or directly quote a resource, then cite it properly using APA 6th.