Risk Management Briefing Report for Desklib

Running Head: RISK MANAGEMENT 1
Risk management briefing report
Student’s Name
Course
University
Date

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Table of Contents
ASSESSMENT TASK 1............................................................................................................................3
INTRODUCTION.....................................................................................................................................3
A review of the context of the risk............................................................................................................4
Internal stakeholders for risk identification............................................................................................5
GOALS FOR THE BUSINESS EXPANSION PROJECT.....................................................................6
PESTEL ANALYSIS.................................................................................................................................7
Strength and weaknesses...........................................................................................................................8
ASSESSMENT TASK 2............................................................................................................................9
Summary of the reports...............................................................................................................................9
Risks identified with mitigation strategies...................................................................................................9
Action plan for risk mitigation...............................................................................................................11
Assessment task 3....................................................................................................................................13
Training options......................................................................................................................................13
Relevance of training...............................................................................................................................13
Risk management process report...........................................................................................................13
References................................................................................................................................................14

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ASSESSMENT TASK 1
INTRODUCTION
This report is going to outline an efficient risk analysis for a medium sized Australian company
that is based in Brisbane. The company has specialized in the manufacturing of skin care
products which are usually of high quality. This business was established purposely to cater for
the increasing demand for skin products because of they are eco-friendly. There mode of
packaging is also eco-friendly which attracts most of the Australians. The company wishes to
expand its operations through establishing a chain of retail outlets in Sydney, Brisbane and
Melbourne. As a result, risk analysis is very crucial so as to formulate effective strategies to
enhance the achievement of the stipulated goals and objectives. Risk management process shall
involve risk identification, risk analysis, risk evaluation, risk treatment and monitoring and
reviewing the risk (Valsamakis, Vivian and Du Toit, 2010). A PESTEL analysis shall also be
conducted so as to evaluate the external factors that may impact the business in several ways and
approach them appropriately.

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A review of the context of the risk
According to (Bessis, 2015) Business expansion comes with various associated risks. Some of
the risks that the company might face in the process are:
Financial risks
Expansion needs sufficient capital which might be a disadvantage for the business. The company
has to thoroughly determine the financial sources that shall facilitate the expansion process to
enhance the achievement of the objective.
Legal risks
The government might have regulations on the number of similar businesses to be established in
similar region by individuals hence the company needs to ensure that it is not violating such
regulations in the process of expansion.
Labor risks
Expansion might result to the need for more number of employees in the various retail stores.
The company must evaluate the rate of labor supply in the predetermined areas so as to avoid
shortage of labor that may have an adverse effect to the success of the business.