Risk Management Process Evaluation Report for NatureCare

This report provides a comprehensive risk management evaluation for NatureCare, addressing key challenges and offering strategic recommendations. The report identifies and analyzes several critical risks, including the difficulty in attracting and retaining sufficiently qualified staff, the issue of unsustainable workplace practices, and the importance of maintaining high levels of customer satisfaction. It details the impacts of each risk on the business's operations and long-term success, and proposes actionable solutions. For instance, to address staffing issues, the report suggests offering competitive financial benefits and growth opportunities. It recommends a resource management plan to improve workplace sustainability and emphasizes the importance of communication and market analysis to enhance customer satisfaction. The report concludes with a set of recommendations designed to help NatureCare mitigate risks, improve operational efficiency, and ensure sustainable business growth. An email to the assessor and references are also included.

Assessment Task 4: Risk
management process
evaluation report

Table of Contents
RISK MANEGEMENT EVALUATION REPORT........................................................................1
RECOMMENDATIONS.................................................................................................................3
EMAIL TO ASSESSOR..................................................................................................................4
REFERENCES................................................................................................................................5

RISK MANEGEMENT EVALUATION REPORT
Risk is the amount of uncertainty that business organisations receive in order to perform
various activities and achieve ultimate goal of earning good amount of profits. Their are number
of risk available with business organisations like NatureCare and risk assessment needs to be
performed so that systematic evaluation of the potential risk can be conducted. Assessment of the
risk provides information regarding all the current and potential risk that are arising for business.
This helps in introducing a best suitable risk management by evaluating the whole situation and
generating number of solutions (Bejan, 2019). Here a risk management evaluation report for
NatureCare organisation is provided. In this report different risks that business is facing is
mentioned with their impact and solutions. These impacts, solutions and recommendations made
to the business as follows-
Inability to attract sufficiently qualified staff
One of the major risk recorded in NatureCare product organisation is inability to attract
sufficiently qualified staff. Human resource is the most important resource for a business
organisation as they uses all the other resources in planned manner and helps business to achieve
targeted objectives. As it is stated that high amount of risk is involved because a new retail store
is established and organisation do not possess qualified staff to manage their business operations
in most productive manner. The risk of insufficient qualified staff needs to be managed by
businesses for their short as well as long term success. Here, NatureCare organisation in order to
manage this issue has introduced management program of training to employees. To train current
employed workers different training programs are introduced in the business. As managerial
skills and knowledge is not available with employees of the company then a training program
which ensures development of technical skills is introduced.
Risk management action of the company for employing efficient and qualified staff is
correct but there are some more actions that needs to be taken (Hopkin, 2018). In order to train
current staff members continuous training and small education programs are sufficient. To cope
up with the issue in complete manner NatureCare organisation needs employee new staff
members who are skill-full and qualified. Attracting such staff is important and for this
competitive financial benefits needs to be provided to staff members. A considerable amount of
opportunity to grow in the present and future needs to be provided. Employees are attracted
towards a business organisation when financial and non-financial benefits are satisfactory then
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other organisations in the industry. As NatureCare organisation is focusing on training their
current employees for developing required skills it will become a long term process to gain
qualified and skill-full employees for different job positions.
Unsustainable Workplace
Sustainability is important for each business organisation in order to achieve their goals
and objectives. NatureCare organisation is facing another risk of unsustainable workplace due to
poor utilisation of available resources. This insufficient utilisation of employed resources in the
business give rise to various issues such as cost of operations increases and sustainability of
business become unstable. A business achieve its long term success when resources employed
are utilised in best productive manner (Malone and Canavan, 2018). Poor utilisation of resources
at one stage hinders performance of overall business. For example- when production department
is not efficient then wastage will be high and which will leads to generate high cost of production
of the product for NatureCare organisation. This high cost will generate low amount of profits
and in long run sustainability of business will become uncertain.
To manage and utilisation of resources in best productive manner NatureCare
organisation has to develop a well analysed plan of utilising various resources at different stages
of the operations management. This is one of the corrective action that organisation is utilising in
order to ensure that resources are used to generate sustainability in business operations.
Low customer satisfaction
Customer satisfaction is the most crucial factor of marketing. It is basically an analysis of
how services and products which are supplied by an organisation meet customer expectations. It
is important for Nature Care Products to fulfil the requirements of their target customers in order
to bring customer satisfaction. It could be a major threat for the respective organisation if
customers needs are not consider (Schepens, 2017). It is an important factor for an enterprise as
it provide a metric for marketers of organisation that they can utilize to manage and enhance
their business. Respective organisation need to develop several strategies for bringing customer
satisfaction such as measuring customer satisfaction for reducing the number of unsatisfied
customers and also to eliminate customer churn. Fulfilment of customer needs will help the
organisation to expand it market and to acquire a respective position in overall market area and
will lead to a positive brand image.
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In order to measure consumer satisfaction, respective organisation can develop a
questionnaire for their customers by including certain questions related with their services and
products. This method will be beneficial for Nature Care Products as they will receive immediate
responses of their customers. It helps to measure the attitudes, behaviours, preferences as well as
intension of pool of customers (Siddiqui, Gorard and See, 2018s). Receiving feedback by means
of questionnaire is an effective way to work on weak areas of organisation and to develop some
of the strategies to fulfil needs and wants of service users. It is relatively a cheaper and cost
effective method to gain customer response and to build trust among customer. It will help the
organisation to show value to their customers and to deliver products and services according to
their requirements. Along with all such benefits customer satisfaction also helps respective
organisation to gain competitive advantage in market area by creating a strong base of
consumers.
RECOMMENDATIONS
 To manage risk related to inability to attract sufficiently qualified staff a good amount of
financial benefits needs to be offered to employees so that they get attracted with
monetary benefits.
 Safe and secure working environment and chances of good growth opportunities needs to
be provided to present and potential employees so that qualified staff is attracted and
retained in business for long run.
 Resources needs to be utilised on the basis of plan designed for resources utilisation and
each manger and all the employees must understand importance of utilising resources in
productive manner.
 Implementation of resource management plan must be complemented with a process in
which analysis of implementation is made and variations in actual and target results are
identified. This will help business to achieve sustainability in long run.
 In order to minimise poor consumer satisfaction level NatureCare organisation needs to
improve their communication channels with large number of consumers.
 Market analysis must be performed by business so that current trend is analysed and taste
of target consumer group is identified.
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All these recommendations must be followed by managers of NatureCare organisation so
that level of risk involved in business sue to different issues can be controlled to a manageable
level.
EMAIL TO ASSESSOR
From
To:
CC:
BCC:
Subject: Forwarding Risk evaluation Report
Greetings!!
This mail is in reference to the risk evaluation report that has been conducted in context of
Nature Care's business operations. First of all I am very thankful to you for offering me this
opportunity to conduct a risk evaluation report. This experience have been very valuable to me
in learning and understanding new aspects of business environment.
To appropriately conduct a risk management evaluation report there have been an appropriate
us of Policy and procedures relevant to risk, a document to understand methodology and
communication protocols & channels within business. These resources were essential to gather
a basic understanding on the subject matter and moving further to conduct a critique of the
risks. To move further there was a use of principles of governing risk , access to risk materiality
and some other software tools as they helped in forming a conclusion on the project.
P.S. All the document mentioned are attached below.
Thanks & Regards.
XYZ
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REFERENCES
Books and Journals
Bejan, A., 2019. Assessment of the Internal Governance as an Element of the Supervisory
Review and Evaluation Process (SREP). Centre for Studies in European Integration
Working Papers Series. (14). pp.15-26.
Hopkin, P., 2018. Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Malone, P. and Canavan, J., 2018. Systems change: final evaluation report on Tusla's prevention,
partnership and family support programme.
Schepens, M. A., 2017. Pilot study on the inclusion of an uncertainty analysis in a non‐regulatory
evaluation report on the modification of fictitious MRL s. EFSA Supporting
Publications. 14(1). p.1167E.
Siddiqui, N., Gorard, S. and See, B. H., 2018. The importance of process evaluation for
randomised control trials in education. Educational Research. 60(3). pp.357-370.
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