Analyse and Treat Risk - Assessment Task 2

This article discusses the process of risk analysis and management treatment for a business. It includes an action plan and a bibliography.

Running head: ANALYSE AND TREAT RISK
Analyse and Treat Risk
Assessment Task 2
Name of the Student
Name of the University
Author’s Note

1
ANALYSE AND TREAT RISK
Table of Contents
Part A.........................................................................................................................................2
Risk Analysis.........................................................................................................................2
Likelihood for the risk occurring...........................................................................................2
Explanation of the process used for identifying the risk........................................................4
Action Plan.............................................................................................................................4
Part B..........................................................................................................................................5
Risk management treatment...................................................................................................5
Bibliography...............................................................................................................................6

2
ANALYSE AND TREAT RISK
Part A
Risk Analysis
Consequences
Negligible Marginal Critical Catastrophic
Likelihood
LOW
LOW MEDIUM MEDIUM (2) HIGH
MEDIUM
LOW MEDIUM
(1,4) HIGH EXTREME
HIGH
MEDIUM HIGH HIGH EXTREME (3)
Likelihood for the risk occurring
Risk Likelihood Consequences Treatment Priority
1 Banking Risk Medium Marginal The theft of cash
from the premise
can be restricted
by installing
CCTV cameras
and monitoring
the activity of
Medium

3
ANALYSE AND TREAT RISK
the employees.
2 Managers
Travel Risk
Low Critical Insuring the
people working
in the
organization and
reduce the health
risk for the
employees.
Medium
3 By law
compliance
risk
High CATASTROPHIC Reputation/
brand loss and
fines can cause a
huge loss in the
business and the
legal rules and
regulation
should be
analysed for its
implementation
in the current
business process
and eliminate the
risk.
High
4 Loss of brand
recognition
risk
Medium Marginal The staffs should
wear Macville
uniform and
Medium

4
ANALYSE AND TREAT RISK
server well to the
customer for
increasing the
brand value and
meet the
expectation of
the customer.
Explanation of the process used for identifying the risk
i. likely to be effective
ii. Feasible for the organisation
Action Plan
Risk Assess
risk
(Score)
Controls Monitoring Action
Priority
(1-5)
Timelines Responsible
1 Banking
Risk
3 Managemen
t of the cash
flow and
auditing
Employees 2 Pre
settlement
Financial
Controller,
CEO with
MacVille
Board of
Directors
2
Managers
Travel
Risk
3 Buying
insurance
and health
plan
Reduce
physical
injury
3 Opening
week
MacVille
Board of
Directors
3 By law
compliance
risk
5 The non-
compliance
device
should be
replaced
with
compliance
device
Legal issues
and policies
4 Within
three
months
Goldsmith
partner,
CEO with
MacVille
Board of
Directors
4 Loss of
brand
recognition
risk
5 New policy
should be
developed
for the
employees
for serving
On site
management
and training
for the
employees
5 Within six
months
Store
manager

5
ANALYSE AND TREAT RISK
customer.
Part B
Risk management treatment
The business should focus on building trust with the people and implement new
strategy for serving well to the customers. The people serving the customer should have a
dress policy and wear t-shirt with the company logo printed on their t-shirt for reaching more
number of people at a time. It helps in increasing the recognition of the brand and increase
the loyalty of the customer towards the brand and thus increasing the brand value.

6
ANALYSE AND TREAT RISK
Bibliography
Chesbrough, H., Vanhaverbeke, W. and West, J. eds., 2014. New frontiers in open
innovation. Oup Oxford. Chesbrough, H., Vanhaverbeke, W. and West, J. eds., 2014. New
frontiers in open innovation. Oup Oxford.
Feinberg, R., 2016. Open for Business: Building the New Cuban Economy. Brookings
Institution Press.
Mosca, F. and Re, P., 2014. International development strategies of luxury-goods players in
China. Chinese Business Review, 13(6), pp.367-381.
Salar, M. and Salar, O., 2014. Determining pros and cons of franchising by using swot
analysis. Procedia-Social and Behavioral Sciences, 122, pp.515-519.