Dissertation > Economic > Industrial economy > China Industrial Economy > Industrial sector economy

A Research on the Risk Management of Lanzhou PetroChina Kunlun Gas Ltd,

Author YangHongXin
Tutor HeXin
School Lanzhou University
Course Business Administration
Keywords risk management public products internal control sustainable development
CLC F426.22
Type Master's thesis
Year 2011
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In recent years, with the trend of economic globalization and the gradual strengthening and increasing market competition, enterprises are facing more and more risks. Due to the risk management is out of control, some famous international enterprises have scandals come out, resulting in extremely serious consequences, for example, in 2001, U.S. Energy Company Enron went bankrupt because of false operation, fictitious profits and losses- hiding,causing the dissolution of Arthur Andersen Accounting Firm -one of the largest Big Five public accounting firm; In 2008,Societe Generale exposed a huge extortion because risk management was out of control, which its traders Cavey El did the illegal operations without the authorization, leading to nearly 50 billion euro loss. China’s enterprises have also paid a painful price due to the lack of internal control and risk management,for instance, the frequent exposure of fraud cases, such as "China’s first blue chip"- "YinAnXia" fictional huge profits, the domestic famous enterprises CAO (Singapore) company’s bankruptcy. It is the defects of the enterprise risk management that cause the enterprises cannot realize promptly and control effectively the business risks, and eventually deceive the social public and investors desperately. After analyzing the failure cases of these risk management, people are gradually realizing the strategic importance of risk management. Establishment and improvement of effective enterprise risk management system has become a business imperative, so it has become a top priority of enterprises to establish and perfect the effective enterprises risk management systemLanzhou PetroChina Kunlun Gas Ltd is franchise enterprises, specialized in urban gas supply and related project management, as well as state-owned enterprises, which is public welfare -natured, providing public products. In recent years, with the economic and social development, natural gas demand has increased dramatically, which provides a rare opportunity for the development of the company. Market economy is a risk economy.In this case; enterprises are faced with many opportunities as well as huge risks, due to internal and external development environment, business management, internal control and other uncertainties. Begun from the cases of risk management at home and abroad, this thesis analyses the various risks that Lanzhou PetroChina Kunlun Gas faces, and risk management status together with the causes from the perspective of risk management theory and public products, combing risk management theory with the actual analysis, thus proposes suitable strategies and measures of risk prevention, aiming at improving the risk management ability of the enterprises in market competition, as well as preventing and reducing risk losses, in order to promote and guarantee the sustainable development of the enterprises

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