Risk Review: Scope, Goals, Stakeholders, Analysis, and Research

This report provides a comprehensive analysis of risk management in the context of MacVille company, including the scope, goals, stakeholders, analysis, and research. It discusses the importance of risk management in minimizing negative consequences and maximizing opportunities for growth. The report also includes a PEST and SWOT analysis for risk assessment.

Risk review

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ................................................................................................................................1
Scope...........................................................................................................................................1
Goals ..........................................................................................................................................1
Stakeholders................................................................................................................................2
Analysis.......................................................................................................................................4
Research .....................................................................................................................................5
Describe.......................................................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Risk is refers to the degree of uncertainty or potential of the future loss about the effects
of the activity with the respect of the human values and often focusing on the undesirable
negative consequences (Thöns, 2018). Moreover risk management is described as the process of
identifying, evaluate and controlling the threats to an organisational capital and earnings. It is
associated with the minimizing and monitoring the probability impact of the unfortunate events
and maximize the realization of the opportunities for encouraging the growth of the company.
This report is based on the MacVille company which is an Australian based beverage company,
this report involves the scope and goals of the risk management, stakeholder and their role in the
process along with the PEST and SWOT analysis for the risk.
MAIN BODY
Scope
Scope is refers to all the work that is needed to be done as to achieve the objectives and
goals of the particular project, this involves the process of the identifying and documentation of
the specific project goals, operations, costs and timeline dates that are specified for the project
objectives. Risk management is the process of evaluating and controlling the unfortunate events
that might have he negative impact on the organisational performance and profitability. It is
necessary for the MacVille company to draw an appropriate framework for assessing and
controlling the risk associated that are associated with the company(Nadikattu, 2019). As this
provides the balance between costs, benefits and opportunities, help in preventing from the
failure to change, loss of reputation, impact of the regulation and legislation, physical damage. In
addition this, it also assess the risk for the human resource management, financial operations of
the company along with the supply chain so that distribution of the product and services will not
be disrupted.
Goals
A goal is described as the idea of the future and desired results that an individual or an
group of people are commit to accomplish. It can be short term or long term, along with this
goals should be measurable and reliable (DuHadway, Carnovale, and Hazen, 2019). Goals
setting is the essential for the MacVille as for the success of the risk management plan of the
company, in which goals has to be aligned with the organisational policies so that can be
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achieved in the appropriate manner along with the timely basis. Goals of the company as
expanding the customers base through providing the excellent customers service, increasing the
number of stores across the Australia and adding the new line of the innovative food products
through which customers through which more customers are attracted and results in the increase
in sales revenue (Ivanov, 2018) As company has already having well establish brand name in
the beverage market as the chain of cafes, this factor can help the company in to making its new
store successful in Queensland. With this MacVille company can grab the various benefits as
place was surrounded by the shopping centres through which it becomes easy for the company to
get and attract the more customers.
Stakeholders
Stakeholders are the individuals that has an interest in the company and can also affect
and be affected by the business operations. As per the traditional and typical corporations it
stakeholders are investors, employees, customers, and suppliers, therefore, with the increase
attention to the new concepts such as corporate social responsibility, this has been extended to
includes government, communicates and trade associations(Aytasova, Solopova, and Karpenko,
2019). Stakeholders in the MacVille company are played the various role in the risk management
for the success of the company and that can be internal and external to the company as discussed
below:
Stakeholders Internal/external Role in process Stake in process
Director Internal  Setting the
standards and
expectations of the
staff.
 Giving approvals
foe the major
decisions that has
impact on the
MacVille risk
profile.
High
Senior internal  Execution of the High
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management
team
policies on the
risk management
 identify the area in
which risk
management is not
addressed
properly and
convey the
director
accordingly.
Employees internal  Considering risk
which they feel
could impact on
their performance
and meeting the
objectives.
 Making
comfortable
themselves with
the respect f the
risk management.
policy
Medium
Ron langford External  Ron has been
explained the
extract from a
government that
economic brief.
 Also spoke about
the various
competitors in the
Medium
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chain of cafes that
may open the
stores near the
town.
Goldsmith
partners
external  This will help in
the legal and
compliances
issues.
Low
Analysis
PEST analysis: this is refer to the framework which is used as the tool by the organisation in
order to evaluate the macro or external environment of the company that have an direct impact
on the operations and performance of the company. Factors of this analysis id discused below:
Factors Description
Political factor This is refers to the rules and regulations made my the government, in
Australian government has made the various rules and regulation in
concern to the health of the population, it becomes hard for the company
to develop the new product and has the negative impact on the smooth
running operation of the MacVille.
Economical factor It involves the inflation rates, interest rate, taxation policy, consumers
disposable income etc. Australia s one of the largest capitalistic
economy in the world that reflects the high consumers confidence on the
spending, by this ,MacVille company can increase it prices that results
in high profit.
Social factor This factors includes friends, family, colleagues and social circle that
influence the individual attitude, opinion and standard of living.
Australia is one of the multi-culture and multiracial country in the world
(Van Staveren, Ivanov, 2018). MacVille has the opportunity to carter
the need of the different consumer segment
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Technological factor This is refers to the all externally generated changes in the technology,
Australia is one of the technological advanced country through which
MacVille can implement the new techniques and methods to higher the
performance and quality.
SWOT analysis: this is described as the strategic planning technique which that is used by the
organisation to identify the strength, weakness, opportunity and threat. These are discussed
below in context to the MacVille company:
STRENGTH WEAKNESS
 This provides an quality of products
superior along with the superior
product performance.
 Its new management is committed and
confident and this also has the excellent
location for the store.
 It did not have the detailed plan for the
financial department of the company
 staff need an training as earlier this was
an family run store
OPPORTUNITY THREAT
 This has the opportunity to extend the
business in the more new area.
 It can develop the new product range.
 May have a threat from the
competitors.
 Legislation could impact the negative
publicity of the company.
Research
From the analysis of the case study it has been evaluated that MacVille is an Australian
beverage company that has decided to expand its business at the new place by acquiring
purchasing and rebranding the Hurley's cafe. For this company has appointed the risk manager
or assessor as for managing the risk which are associated with the new store with the help of
various informations given by the legal firm goldsmith and by the counsellor Ron Langford.
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Describe
As from the analysis of the scenario, it has been seen that company can face the
organisational or operational risk as many of the others companies of this particular sectors are
planning to open their stores at the same place, Which can impact the sale of MacVille.
Moreover it can also face the financial risk as they did not the detailed planned for the financial
department.
CONCLUSION
From the above analysis it has been concluded that risk management is the critical to the
success of the company as this asses and control the undesirable events that can impact the
company performance. This has the wide scope in the business operations and for that company
should have the goals that are aligned with the organisational policy. In addition to this
stakeholders also plays an vital role in managing the risk of the company. For the PEST and
SWOT analysis has been used which help into evaluate the internal and external environment of
the company.
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REFERENCES
Books and Journals
Thöns, S., 2018. On the value of monitoring information for the structural integrity and risk
management. Computer‐Aided Civil and Infrastructure Engineering, 33(1), pp.79-94.
Nadikattu, R.R., 2019. Risk Management in Private Sector. International Journal of Computer
Trends and Technology.
DuHadway, S., Carnovale, S. and Hazen, B., 2019. Understanding risk management for
intentional supply chain disruptions: Risk detection, risk mitigation, and risk
recovery. Annals of Operations Research, 283(1), pp.179-198.
Aytasova, A.S., Solopova, N.A. and Karpenko, P.A., 2019, January. Development the risk
management system of processes in the enterprise. In 2019 IEEE Conference of
Russian Young Researchers in Electrical and Electronic Engineering (EIConRus) (pp.
1357-1360). IEEE.
Van Staveren, M., 2018. Uncertainty and ground conditions: a risk management approach. CRC
Press.
Ivanov, D., 2018. Structural dynamics and resilience in supply chain risk management (Vol.
265). Berlin, Germany: Springer International Publishing.
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