Risk Management Practices for BizOps Enterprises

Running Head: RISK MANAGEMENT
RISK MANAGEMENT
Name of the Student:
Name of University:
Author Note:

1RISK MANAGEMENT
Introduction
Bizops is considered to be one of the famous small scale retail organisation that operates
in Australia effectively. The company has more than 150 outlets with online purchasing facility
as well so that customer maximisation will be effective. Recently the organisation is witnessing
severe risks both in internal and external environment. Therefore, the purpose of this report is to
portray some risk management practices that can mitigate the problems effectively. The report
also includes risk management template and a brief report to the CEO about the required
changes. In fact, the monitoring and evaluation strategies are also going to be discussed so that it
could encapsulate the entire theme of risk management practices.
Discussion
Task 1: Risk management report
1.1Key risks
1.1.1Political
The Australian government is going to increase the tax for the citizens as a result of that a
decreasing trend in the household disposable can be found. Moreover, in the political sphere
possible allegation of corruption against the government halted the business predominantly.
1.1.2 Economic
On the economic front huge uncertainty in the global financial crisis created a great deal
of adverse impact on BizOps Enterprises to maximise its market effectively.

2RISK MANAGEMENT
1.1.3 Social
Socially most of the prime suppliers of BizOps Enterprises are accused with using
sweatshops, child labour and manufacturing process that affected the environment as well as the
social condition of the people.
1.1.4 Legal
From the legal point of view, the introduction of Federal Consumer Legislation in 2011
enhanced consumers’ rights to know about the product safety. Moreover, the firm Workplace
Health and Safety laws were also created severe obstacle to the healthy business operation of
BizOps Enterprises.
1.1.5 Technological
Technologically, BizOps Enterprises was witnessing severe problem in its website
glitches where the customers complained that the website had some connectivity problems and
confidential customer information was leaked. Moreover, the delivery service technology was
also not up to the mark. In-house information system was outdated.
1.1.6 Policy
Budgetary cuts in the all departments of BizOps Enterprises created huge demoralisation
for the employees. Moreover, the organisation is also alleged with over-time of the employees
without compensation and lack of training.
1.2 List of possible sources
a) Company profile
b) Company business plan