Risk Management for Macville Company

Running head: RISK MANAGEMENT
RISK MANAGEMENT
Name of the student
Name of the university
Author note

1RISK MANAGEMENT
Assessment 1
1. Introduction
The Macville has chain of cafes across Australia mainly in the Central Business Districts
of Brisbane, Queensland, Sydney and NSW. The identification of the different risks that are
indulged with the undertakings of the organizations helps in the proper management of the
business concern. The different strategies that were applied and the manner in which the
manager of the business communicated the different risks with the stakeholders and the CEO is
the major concern for undertaking the report. The assessment of specific risk factors that might
be faced by the organization while undertaking its expansion in the international markets helped
the same in formulating the strategies. The report will focus on different managerial approaches
that might be undertaken by the business while making the business expansion.
2. Effectiveness of the risk management framework
The risk management framework that is confirmed by the organization is dependent on
the establishment if sound communication strategies for the assessed risks and thereby facilitate
the modifications in the systems. The strategies that are designed by the organization helped to
mitigate the issues that the business might face while undertaking the specific activities. The
policies and regulations that are created by the business relating to staff satisfactions will be
helping the organization to build on the enterprise. On the other hand, the different internal and
external audits on risk assessment helped the organization to create different strategies for
avoiding varied unfortunate circumstances related to lower staff turnover and productivity of the
business. The monthly reporting systems of the organization helped the same to keep their
strategies updated with the situation of the organization in the market.

2RISK MANAGEMENT
The risk management framework, which is created by the business, will be helping the
same to assess the levels of risk while considering the current expansion through acquisition of
the new store. Evaluation of the monthly budget and reporting systems will be helping the
management of the business to assess the risks and thereby bring forth changes in the methods of
the business.
3. Scope of the risk management strategies
The scope of the risk management strategies that are undertaken by the business is
limited to the identification of the different levels of changes in the systems of the business. The
assessment of risk will be dependent on the evaluation of the market and the different
preferences of the consumers.
4. Critical success factors
The success factors of the risk assessment will be dependent on the identification of the
levels of risk that might be faced by the organization while undertaking the expansion. The
critical success factors are dependent on the efficiency of the assessment that are undertaken by
the evaluators of the risk management systems that are imposed by the organization. The
evaluation will be helping the risk management systems of the business to undertake the smooth
functioning of the business while operating in the markets.
5. Identification of internal and external stakeholders
Stakeholders Internal/ External Role in the process Stakes in the process
The employees Internal Identification of the
change that is
implemented by the
organization and
Employability of the
employees are
dependent on the
profitability of the

3RISK MANAGEMENT
making continuous
efforts to achieve the
target of the
organization
business
The investors External Making investments for
facilitating the smooth
functioning of the
business as per the
objectives of the
expansion
The investments that are
made by the investors
and rate of returns to the
same depend on smooth
performance and
profitability of the
business.
The management Internal The involvement of the
management and the
strategies in which the
expansion can be
undertaken helped the
organization in bringing
forth changes
The involvement of the
management of the
business enterprise
helped in enhancing the
functions of the
organizations.
6. SWOT and PEST
SWOT analysis
Strengths
 Premium quality of the products
 Easily accessible store and outlets
Weaknesses
 Lack of knowledge on consumer
preferences which affects the