Description
RSK2601 ASSIGNMENT 1 2026
DUE 31 AUGUST 2026
RSK2601 Assignment 1 2026 – Question 1
Based on the Case Study: Valley Foods (Pty) Ltd
Background Valley Foods (Pty) Ltd is a medium-sized South African company that
packages and distributes fresh fruits and vegetables to supermarkets and hospitals in
Gauteng and Limpopo. The company has grown rapidly over the past three years due
to increased demand for locally produced food. Recently, management has experienced
several challenges. Deliveries have been delayed because some suppliers failed to
meet delivery deadlines after severe weather conditions affected farming areas. The
company has also experienced a cyber incident in which an employee unknowingly
1.1 Define risk identification and explain its purpose in the enterprise risk
management process.
What is risk identification?
Risk identification is a process where experienced personnel, usually guided by a risk
facilitator, work together to find and list all the risks and opportunities that could affect a
business. The identified items are then recorded in a risk register (Chapman, 2013, p.
159). According to the study guide, risk identification is the starting point of the risk
management process and is essential for understanding the risks and opportunities that
may arise from the business objectives (RSK2601 Guide, 2021, p. 30).
What is the purpose of risk identification?
Identify threats: To find the risks that could prevent the business from reaching its
objectives.
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