Reference no: EM133298573
You have been recently hired as the Minister of Enterprise Risk, in the office of the Prime Minister, for your island/territory.
The country's revenue stream is derived from the following:
• Energy/Energy industries 40% of its revenue (projected)
• 20% from manufacturing/exports
• 40% of tourism
There are 6 ministries that constitute the government they are:
• Finance Ministry
• Health and Safety Ministry
• Tourism Ministry
• Energy ministry
• Environment and sustainability ministry
• Social services ministry
The country has seen negative growth for the last 2 years, crime has increased, the population is restless and they have an immigration problem with an influx of citizens from neighboring islands. There is a global pandemic, a war in Europe is now 8 months old and counting, fuel, and food prices are rising and further supply chain disruptions are expected.
You have been asked to develop and submit to Cabinet for approval: A plan to implement an ERM framework that will be used by all business sectors. The framework must include, (along with other issues you deem important) the following:
Question: An outline of a risk management policy document.