Assignment Implementation Of Risk Management

BSBRSK 501
NAME OF STUDENT
NAME OF COLLEGE
AUTHORS NOTE
BSBRBK 501
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BSBRBK 501
Contents
Stage 1.............................................................................................................................................3
Stage 2.............................................................................................................................................5
Stage 3.............................................................................................................................................6
Implementation of risk management action plan and process.........................................................8
References........................................................................................................................................9
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BSBRBK 501
Stage 1
1. The name of the café which will be set up is Car Wash café in Melbourne. The type of
activities which will be involved in the café comprises providing soft drinks, coffee,
sandwich, cakes ad popular snacks to the customers in the café while they wait for their
car wash to get completed. The objectives of the business include:
 attracting more business towards the car wash business
 increasing the business of the company by 7.5% after opening the café.
2. Political factors- The political factors comprises of the laws and legislation regarding
taxation.
Economic factors- The economic factor comprises of the purchasing power of the
customers.
Socio-cultural factors- The socio-cultural factor comprises of the taste preferences of the
customers.
Technology factors- The technology factors comprises of level of technology diffusion in
the context.
The strengths and weakness of any existing arrangements- The strengths involved with
the existing arrangement is the availability of a store room which can be used for opening
the café and weakness of existing arrangement is no prior experience of the café business.
3. a. The goals and objectives of the Car Wash café are as follows:
 Attracting more customers towards the new business of the company through new
café service while waiting for car wash service.
 Offering app based solution for customer grievance and complaint handling with
instant support program
 Developing the business performance of the company by 7.5% by extending into
other cities outside Melbourne
 Maintaining less of silos and flexibility in structure for top-down and vice versa
communication
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b. The deliverables which the project should achieve is that the new café of the company should
help in attracting new customers towards the café and the café should be able to improve the
business revenue of the car wash by 7.5% by attracting new customers towards the business.
c. The deliverables associated with the project are linked to the goals and objectives of the
project as the objective of attracting new customers is linked with the deliverable of attracting
more customer towards the café and the objective of developing the business performance of the
company by 7.5% is linked with the deliverable of improving the revenue of the company by
7.5% by attracting new customers towards the café of the company (Hartmann and Spit 2016)
d. The critical success factors for the project is the ability of the business to offer products to the
customers in the café, the amenities which will be provided to the customers in the cafe and the
promotion of the café among the customers (Phusavat et al. 2015)
4. Table of stakeholders
Identification of stakeholder:
Internal stakeholders: employees
External stakeholders: customers, suppliers, government or funding agencies
Stakeholder Internal / External Role in process Stake in process
Customers External Purchasing the
products of the cafe
Receiving high
quality products at
reasonable prices.
Employees Internal Providing services to
the customers in the
café
Getting appropriate
wages and salary
Suppliers External Supplying raw
materials to the café
Getting payment in
time
Government External Monitoring the
business operations of
the company
Compliance to laws
and regulations.
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a) Relationship between customers, product offerings and identified CSF of Car wash café is that
greater the offerings and amenities of Car wash café, more attractive and appealing it will be for
customers. Also better reach of promotion more will be customers aware of this café.
Relationship between employees, product offering and identified CSF of Car wash café is that
better skilled the workforce, more capable they will be to serve customers and meet their
expectations to retain and even attract new ones. In terms of promotions it can be said that better
service and support from employees will act as word of mouth promotion to attract more
customers and earn better recognition in market.
Relationship between suppliers and identified CSF of Car wash café is that their consistency,
quality of supplies and prompt distribution of materials will determine better offering of café to
attract customers.
Relationship between government and identified CSF of Car wash café is that support of
government towards policies and different trade permits will determine activities and policies of
Car wash café and will help to deliver their services to customers. Quality of hygiene and safety
in café will determine better amenities and adherence to advertisement will determine better
promotions and reach to customers.
b. Communication process:
All Staffs- All staffs can be communicated through a face to face meeting and support expected
is high awareness for risk management practices and activities as well as attentiveness towards
them.
Internal and external stakeholders- Internal stakeholders will be communicated through face to
face meetings and external stakeholders will be communicated by mail. Support expected from
internal stakeholders is effective execution towards risk management policies and support
expected from external stakeholders is recommendation to improve risk management efforts.
Specific teams or business units- Specific team or business units can be communicate through
face to face meetings and support expected is involvement in risk management policy
development and implementation.
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Technical experts- The technical experts will be communicated through email and support
expected is insuring proper maintenance of all equipment and machinery to adhere to risk
management activities.
5. PEST Analysis
Political factors The political factors comprises of the laws and
legislation regarding taxation polices,
employment laws and regulations on
procurement of resources
Economic factors The economic factor comprises of the
purchasing power of the customers, inflation
and interest rate, local economic condition in
different markets
Socio-cultural factors The socio-cultural factor comprises of the taste
preferences of the customers, changing family
and work patterns as well as changes in
lifestyle of consumers
Technology factors The technology factors comprises of level of
technology diffusion in the context,
development in agriculture and bio-
technological advancement
SWOT Analysis
Strengths
The strengths of the car wash regarding the
business is the availability of a store room
which can be used for opening the café
Weakness
The weakness of the business is no prior
experience of the café business.
Opportunities
The opportunity for the business is to utilize
Threats
The threat of the company includes the
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