BSBRSK501 Risk Manage Analysis Report 2022

This document is Risk Briefing Report Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBRSK501.
Australian Smart College
7 Greenfield Parade, Bankstown NSW 2200
ABN 45 607 618 244
RTO ID: 45302 CRICOS Code: 03661E
Phone: [phone]
Website: www.ascollege.nsw.edu.au
Email: [e-mail]
Australian Smart College Pty. Ltd.
BSBRSK501- Manage risk
Student’s Resources
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Australian Smart College Pty. Ltd.
RTO ID: 45302 CRICOS Code: 03661E

This document is Risk Briefing Report Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBRSK501.
NatureCare Products
Risk Briefing Report
Introduction
Enterprise risk management has emerged as the indispensable part of the core decision making
operations of business organisations. Florio and Leoni (2017) mention that business organisations
should enhance their capacities to manage the risks they face in order to sustain in the extremely
competitive and volatile market. They also mention that adopting ERM enables the business
organisations to minimise the impact of risks on their respective revenue generation and business
growth. The aim of the report would be conducting a risk analysis of NatureCare Products, an
environment friendly of skincare products manufacturing firm based in Brisbane., Australia. The
company had been dependent on third party health food shops besides its own official website with
built in ecommerce capability to market its products. The company restructured its marketing channel
strategy to incorporate its own chain of retail outlets to market its products directly to consumers. The
operations manager on behalf of the company would conduct risk assessment on behalf of the
company pertaining to the retail outlet launch strategy.
Scope
The scope of the risk management process at NatureCare Products which the operations manager
would undertake would take into account the risks which the company would encounter while
launching its chain of retail stores to market its skincare products. The risks management process
would include different types political risks and supply chain risks. The objective of the risk
management process would be effectively managing the risks identified and the risks which would be
identified in the future to ensure that their impact on the revenue generation of the company could be
minimised.
There had been critical success factors of the risk management procedure of NatureCare
Products which came to the forefront upon conducting the analysis. First, the firm was financially
strong which meant that it was in the position to invest immense capital in the risk management
process. The second success factor was that the firm had a strong organisational structure aligned to
enterprise risk management. This was evident from entrusting of the responsibilities of conducting risk
assessment of the retail expansion strategy with the OM. The third critical success factor of the RMP
of NatureCare was involvement of stakeholders like shareholders in making important decisions like
business expansion and risk management.
PESTLE Analysis
Conduct a PESTLE analysis as per the procedure outlined in the Risk Management Policy and
Procedure.
Identify at least 6 key factors that impact on the environment in which NatureCare Products operates
and associated risks as relevant.
Identify potential risk treatment options for each of the risks you identify.
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V2_MAY_2019
Australian Smart College Pty. Ltd.
RTO ID: 45302 CRICOS Code: 03661E

This document is Risk Briefing Report Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBRSK501.
Political Factors
Factor Risk treatments as applicable
Deteriorating in bilateral relationship of
Government of Australia would result in
companies losing markets Entering new markets
Terrorist attacks would result in damage to
the properties of the company, death of
employees, loss of information and financial
losses Seek government help
Economic Factors
Factor Risk treatments as applicable
Falling GDP in Australia
Foreign expansion
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V2_MAY_2019
Australian Smart College Pty. Ltd.
RTO ID: 45302 CRICOS Code: 03661E