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(PDF) Operational Risk Management

Added on - 04 Dec 2019

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Dissertation - Draft 3, 41
Table of ContentsDRAFT - 4 Operational and legal requirements..................................................................................3Legal requirements government import export................................................................................3Realistic stang requirements including contractors recruitment training remuneration and relatedissues.................................................................................................................................................4Organisational structure stock control and labour estimates are realistic and analysed...................6Draft- 5.................................................................................................................................................9Identifying the sources of finance and capital required for commencing the new business............9Explaining the ways through which business idea will operate and function................................10Sales projection...............................................................................................................................11Cash flow projection.......................................................................................................................12Income statement and balance sheet...............................................................................................13Identifying the risk and strategy to manage these..........................................................................14REFERENCES...................................................................................................................................152
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DRAFT - 4 OPERATIONAL AND LEGAL REQUIREMENTSLegal requirements government import exportIn order to successfully establish Indian apparel shop in Auckland, New Zealand owner mustfocuses on assessing and determining the legal and operational requirements. Thus, it is said that forestablishing the new business they will require to follow certain legal and professional requirementthat will support the firm in improving their operations as well as reducing or lowering the legalproblems related with setting up the business (Importing and Exporting laws,2016). Generallythere are few restrictions on owning, establishing as well as operating new businesses in Auckland,New Zealand. However, with the help of using governmental online web site newly business caneasily complete their paper work. The legal requirement basically focuses on measuring importingand exporting laws. Before starting the business it is required by the business to clear their goodsfor import and export from The New Zealand Custom Services and The Ministry for PrimaryIndustries (MPI). Along with this, to start their business in Auckland, New Zealand Baba ethnicwear make sure that they are allowed to import their merchandise (Phillips & Gully, 2015). Inaddition to this, business needs to declare their clothing products that are coming in the NewZealand. Business will also need to lodge the detail of their imported products and merchandise viaimport entry clearance process with customs within 20 days after the clothing products arrive. Thereare two ways in which Baba ethnic wear can easily lodge an import entry clearance that is throughonline declaration websites or with the help of using software that is Electronic Data Interchange itis termed as the international standardised platform for transferring data or information related withbusiness. Along with this, Baba ethnic wear need to get registered earlier lodging their importcertification (James, 2015). The two enrolments are related with registration of electronic commercenetwork as well as with customs for declaring code.As per the importing laws of New Zealand lodge entry mainly depends upon the monetaryvalue of products and goods that are imported by the business. In the situation if worth of goods areless that $1,000 then company need to lodge electronic cargo information (ECI) that focuses onrendering customs duty with the brief description of the clothing products. On the other hand, if theworth of imported goods are more that $1,000 then Baba ethnic wear need to impose an importentry related with goods (Kelsey, 2015). Along with this business also need to apply for theconsumer code as well as supplier code from the customs. In addition to this, clothing material orapparels those are importing within the New Zealand are subjected to different charges, Duties asGST charges. Moreover, the Baba ethnic wear will also taxable with imposing certain tariffs fromthe New Zealand government.4
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