Risk Management at MacVille Pty Ltd

Running head: RISK MANAGEMENT AT MACVILLE PTY LTD
Risk Mangement at MacVille Pty Limited
Name of the Student:
Student Id:
Trainers’ Name:
Assessment Due Date:
Actual Submission Date

1
RISK MANAGEMENT AT MACVILLE PTY LTD
Assessment 1:
1. Review of MacVille simulated business scenario information and documentation:
The review of MacVille Proprietary Limited’s business scenario showed that the
company had a strong management. This was evident from the vision and mission statement
and risk management policy statement of MacVilley Pty Limited. A review of the documents
and the strong management of MacVille clearly shows that it abides by laws in force in
Australia like Work Health and Safety Act 2011 (legislation.gov.au 2018).
2. Report for the CEO:
a. Effectiveness of MacVille Risk Management Framework:
The risk management framework of MacVille worked under the leadership of the
apex management which made it very strong. One can infer in the light of the ISO
31000:2009’s eleven principles that risk management purposes of MacVille, mitigating risks
and ensuring WHS are aligned to them (iso.org 2018). The key elements of the risk
management policy of the MacVille reveal that the organisation identifies potential threats
followed by intervention of the apex management and participation of all other departments
to manage the risks (Shrivastava and Rathod 2017).
b. Identification of risk management in the role of a manager:
A manager plays the role of identifying the potential risks the firm could face in the
future and obtain intervention of the directors if required. The manager would also review the
risk management policies annually and update the management duly about it
(theguardian.com 2018).

2
RISK MANAGEMENT AT MACVILLE PTY LTD
c. Identification of critical success factors, goals or objectives for areas of scope:
The success factors of MacVille were support from the apex management and
directors and a strong communication network within the company. These success
factors were aligned to the business objectives or goals of MacVille which was offering high
quality beverage and gourmet food to the customers in a safe and comfortable
environment (McNeil, Frey and Embrechts 2015).
d. Relevant internal and external stakeholders, their roles, issues or concerns:
Stakeholder
Internal/
External
Role in process
Stake in
process
Issues or concerns
Customers
External
Feedback and
generation of revenue Critical
Demand high quality
food products and safe
cafe environment
CEO
Internal
Approves main
business decisions and
represents the company
to stakeholders
Pivotal
High organisational
performances and high
market position
Managers
Internal
Provides suggestions to
the CEO to take
decisions Intermediary
High performance of
subordinates and
resultant high
appraisals by senior
management.
Council External Makes laws and
policies for business
organisations to operate
Key role High revenue in form
of taxes and legal
compliance from

3
RISK MANAGEMENT AT MACVILLE PTY LTD
business organisations.
Financers
Internal
Provides with financial
resources to the
company
Supportive
High ROI
HR
Internal
Acquires and maintains
talents
Strategic
High quality human
resources
Employees
Internal
Executes decisions
Strategic
Proper compensation
and career growth
Supply chains
External
Supply raw materials
Supportive
Proper invoice
clearance and
payments
Society
External
Directs organisation to
function ethically Key role.
Ethical and sustainable
operations of business
organisations.
Note: The first four columns are of Appendix 3 provided while fifth column pertains to
the issues or concerns of the stakeholders.