Professional Documents
Culture Documents
3. Stakeholders
Stakeholder
A
Internal/external
Identity Risk
Role in process
Identification
of
what, why and
how events rise
Stake in process
Analyse Risk
Treat Risks
Develop
and
Implement specific
risk management
plans
Higher
risks
priority
4. Analysis
PEST Analysis and SWOT Analysis
PESTPolitical- this risk considers the range of potential consequences and likelihood and their
manner of how they will occur. They produce a priority rating in terms of this risk.
Environmental- broader sense to reveal the policy and procedures need to be done as per the
aspects concerning the surrounding areas.
Social-concern for the well being of the staffs and getting the company branded supply.
Know the staffs work procedures and supervise the operation and authorize wages and
deliveries.
Technological- use of digital technologies and schemes, implementing computer to store the
financial records, internet and working in the framework of business technology and
organizational processes where required. Company adheres to bind the technological aspect
through sustained utilization of technical equipment.
SWOT
Strength- Eliminate risks maximizing opportunities and minimizing adversities. Leading a
strategic focus, active approaches forward thinking, and contingency planning.
Representatives of large international chain of coffee shop and expand the operation with
purchase to re-branding of the cafe.
Weakness- Lack of internal control, mostly due to over cash recording, monitoring and
handling. Compliance standards in OHS, written policy and procedures and inefficient guide
staffs, lack of professional business culture, and failure in business monitoring of the external
environment.
Opportunity- funding facilities and monitoring and review and establish a context that will
evaluate the structure of the risk. Easy access to stores and busses because central location of
the cafe.
Threats- lack of monitoring might affect the oversight and review of the risk management
system.
5. Research
This scenario deals with managing the risk and to find out the significant insights to
the operation of the store for Macville system. Since the phases involves analysis, it
also takes into consideration various discussions in the planning and procedures for
the subsequent phases like: review, analyse and plan, and monitor. In this scenario
research undertaken is through investigation and reviewing the statistical information
from specialists. This starts from the site visit at the cafe and overviewing the store
area and prepare the same for report. The concern was to get branded supplies from
CBD Brisbane. Since the policy and procedures were set verbally, it sets out
unstructured and risk to control system. Availability of qualified staffs having popular
cooking skills and using innovative process. Concern for the employee details and all
health issues were maintained in the information form. The summary learning gives
an idea about many failures and lack inciting high risk to the key problems. Some of
these problems are lack of internal controls, failure to meet compliance standards,
lack of professional business culture, etc.
6. Describe
There are few risks that are identified through the research process. These are the
analysis risk been sought from the key problem been taken from the report been
presented. This includes both internal and external risks and lead to consequential
steps like failure in meeting compliance standards, failure of the business monitoring
system. Since there is a hindrance to find the threats and opportunities of the business
it will affect the overall concurrently risk management process.
7. In this scenario to further identify the risk management process and discuss few things
should be pointed out with the manager
- Consider the realizing factors like contingency planning and take active approach
-
to management
Critically analysing the balance between anticipated benefits and cost of managing
risk and take action towards evaluating the policy and procedures to establish the
strategy
To further analysis the context take brief involvement to Macville activities and
listing of criteria operating under organizational context and events that will
8. Develop
Script of Communication with the manager
- Need brief consultation over the report that for acquisition and re-branding of the
-
expansion store.
Take appropriate and measures to control risk management process and use ideal
council water. There is also managing of new process over conservation of water
usage.
For controlling and monitoring risk there are new policy and procedures to write for
water use.
2. Consequence For each risk, assess the consequence of the risk occurring.
Bank risks aroused because of the long distance arousing time and so likely to occur
with risk of doing banking. Therefore, it needs to change banks to avoid long walking.
3. Priorities Use a risk calculation table to assist in prioritising the risks.
4.
Options For each prioritised risk, outline at least two suitable options for treating the
risk.
This risk consider over pre settlement where it would ensure the legal transfer of the business,
opening the business in the first week. It also ensures the financial controlling actions like
banking, insurance or financial issues. Need to devise some changes like legal issues, new
policy by the CEO and Macville board, on site management training for the manager of the
store.
5. Develop a risk management plan by completing the table included in this task and
attaching it to your report
Assess Risk
(L, M, H, E)
Risk
Controls
Monitoring
Timelines
Banking Risk
Responsible
Financial
controller
Managers
travel risk
By-Law
Compliance
Risk
Pre-settlement
date of legal
transfer of the
business
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