This presentation discusses the risk management framework, PEST analysis, SWOT analysis, risk assessment and matrices for MacVille Cafe. It also includes references from various sources. The cafe is based in Queensland, Australia and is planning to expand its business within the state.
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RISK MANAGEMENT NAME OF THE STUDENT: NAME OF THE UNIVERSITY:
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PEST ANALYSIS οPolitical-Australia has strict laws regarding the utilization of water. This implies the excessive amount of water being treated by the organization. The Federal Government of Australia has ensured the implementation of stricter rules to utilize water in a sustainable way (Bromiley et al. 2015). οSocial-The changing preferences and the choices of the customers of the company have been mainly because of the health concerns. Health concerns has now transformed into one of the most key aspects that determines the level of success and the sustainability of the organization.
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SWOT ANALYSIS STRENGTHWEAKNESSESS οEasy Accessibility οDevelopment of New Food οDistributional problems οFalse registers οAbsence of injury policies οAbsence of other kind of policies OPPORTUNITIESTHREATS οOpening new branches οGovernment Aid and helps οPresence of able competitors οEnquiry from large MNCβs
ASSESSMENT OF RISKS οRisks regarding the handling of cash can happen while the managementfailstocontroltheemployeesandalsothe management οTheabsenceofproperdevelopmentalplansbythe managementleadstotheabsenceofproperfocusofthe organization
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RISK MATRICES οThe risk matrices are one of the most effective tools to evaluate the different kinds of risk. οThe first task of the organization will involve a very lower level of medium services and probability. οTherisksthatarerelatedtothewrittenpolicyofthe organization has high severity area and low probability.
REFERENCES οBessis, J., 2015.Risk management in banking. John Wiley & Sons. οBromiley, P., McShane, M., Nair, A. and Rustambekov, E., 2015. Enterprise risk management: Review, critique, and research directions.Long range planning,48(4), pp.265-276. οBrustbauer,J.,2016.EnterpriseriskmanagementinSMEs:Towardsastructural model.International Small Business Journal,34(1), pp.70-85. οChance, D.M. and Brooks, R., 2015.Introduction to derivatives and risk management. Cengage Learning. οFarrell, M. and Gallagher, R., 2015. The valuation implications of enterprise risk management maturity.Journal of Risk and Insurance,82(3), pp.625-657. οFoodauthority.nsw.gov.au.(2018).Startingafoodbusiness.[online]Availableat: http://www.foodauthority.nsw.gov.au/ip/starting-a-food-business [Accessed 7 Jul. 2018]. οGlendon, A.I., Clarke, S. and McKenna, E., 2016.Human safety and risk management. Crc Press. οGrace, M.F., Leverty, J.T., Phillips, R.D. and Shimpi, P., 2015. The value of investing in enterprise risk management.Journal of Risk and Insurance,82(2), pp.289-316. οHopkin,P.,2017.Fundamentalsofriskmanagement:understanding,evaluatingand implementing effective risk management. Kogan Page Publishers.
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