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You are asked to look at the four housing associations and choose the one whose location most resembles your own home area, together with another association in a contrasting area. You are asked to address four questions for each of the two associations that you have chosen:
1. Given the fact that the association is a charity, with risks related both to its financial and charitable aims and any profits made being reinvested to support its charitable aims, what do you assess as the biggest risks facing the association and what is your assessment of these risks? Note that “for profit” activities such as building houses for sale can also contribute to an association’s aims (e.g., to provide affordable housing within its chosen area of operation).
2. Considering the list of products in the “Background” section, how do you rate their potential risks and returns for the association, again in relation to its charitable aims and viability constraints and in the context of the association’s operating environment?
3. In the light of the association’s financial position and its charitable aims, how high should be the risk appetite of the association? Is one of the generic strategies listed in the “Sector Issues” section appropriate for the association, and if not then what should the association’s strategy be?
4. Can you suggest product growth targets and appropriate risk limits that will enable the association to develop safely and dynamically in the short/medium term? The association data was drawn in 2013 from current real cases, and it may help you to investigate the “actual” cases and their contexts.
Textbook: Implementing Enterprise Risk Management Case Studies and Best Practices. John Wiley & Sons.  Fraser, John, Simkins, Betty, Narvaez, Kristina. (2015) 
Chapter 8: Housing Association Case Study of ERM in a Changing Marketplace 
Discussion Length (word count): At least 250 words (not including direct quotes).
References: At least two peer-reviewed, scholarly journal references.

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