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Risk Management Plan for Business Expansion

   

Added on  2020-10-22

16 Pages4021 Words241 Views
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Table of ContentsE-mail to CEO .................................................................................................................................1INTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2Introduction............................................................................................................................21. Review the risk context and conduct research...................................................................22. Develop a risk briefing report.............................................................................................3TASK 2............................................................................................................................................6TASK 3............................................................................................................................................9PART - A.........................................................................................................................................9Short report to CEO..............................................................................................................10Report to CEO......................................................................................................................11Email to customer service representatives...........................................................................11PART – B.......................................................................................................................................12Staff survey...........................................................................................................................12Evaluation of report..............................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

E-mail to CEO To: CEO of NatureCare Products CompanyCC:BB:Subject: Overview of risk management plan for business expansionRespected Sir, This mail is written to inform you that the NatureCare organisation want to expand theirbusiness in three countries which is named as Sydney, Brisbane and Melbourne. This expansionprocedure involve risk because every nation have different political economical, social,technological and environmental elements which effect expanding of NatureCare Products inmarket. Entire report is explaining this and make sure that this will be done in legal manner. Thank youXYZ 1

INTRODUCTIONIn the terms of a business organisation, risk is refer as a possibility will have maximumexperience of loss rather than expected revenue and profit. For this, employees needs to create amanagement plan that aid to reduce risk and uncertainty from business. Risk management is amost important process in a company that assist to identify credence or mitigation of uncertaintyin organisational decisions (Aebi, Sabato and Schmid, 2012). This report is based on Naturecareproducts which was established in the year of 1996 and manufactures eco-friendly, high qualitybeauty skincare products. The organisation wants to expand their business chain in severalcountries, so for this they requires to produce a risk management plan to identify uncertain issuesthat can affect business procedure and policies at the time of expansion. This report is going tocover issues and elements related to risk as well as its management approaches in the context ofNaturecare products.TASK 1Introduction1. Review the risk context and conduct researchLegislative and regulatory in relation to risk management Every organization have to follow all the rules and regulation while expanding theirbusiness in other countries. Same as NatureCare products also have to work in legal mannerwhen they will establish their enterprise in some other nation such as Sydney, Brisbane andMelbourne. Whereas, regulations are those which is given by government in relation to the sameprocedure and these must be followed as per law (Bessis, 2015). Internal and External stakeholders with whom consultant is required for identifyingpotential risk and issues which raise as a part of risk management process. Internal and external stakeholders are those to whom company can consult for theirpotential risk. Here, employees are inner and investors are outsider with them discussion can bedone related to risk involved for expanding business. Strength and Weakness of the companyNatureCare Product is the organization which serve through both online and offline.Moreover, strength of online serving is that they can easily attract large number of customers2

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