Risk Management Report for NatureCare Products Expansion Project

This report provides a comprehensive risk management analysis for NatureCare Products, an eco-friendly skincare company established in 1996. The report begins with an introduction outlining the purpose and scope of the risk analysis, followed by a PESTLE analysis examining the political, economic, social, technological, legal, and environmental factors affecting the business. It identifies both internal and external stakeholders and discusses their potential issues. The report then analyzes the company's strengths and weaknesses, particularly in its existing retail approach, and identifies critical success factors for its business expansion project, including the establishment of retail outlets in Brisbane, Sydney, and Melbourne. The report also includes an email to the CEO summarizing the key findings and recommendations. The analysis covers various aspects of risk management, including risk assessment, consequences, and mitigation strategies, and concludes with references supporting the analysis.

Task 1
Risk management report
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TABLE OF CONTENTS
TASK 1.................................................................................................................................................. 1
Introduction........................................................................................................................................ 1
Pestle Analysis................................................................................................................................... 1
Internal and External Stakeholders.................................................................................................... 2
Strengths and Weaknesses............................................................................................................... 2
Critical Success Factors..................................................................................................................... 3
EMAIL TO CEO..................................................................................................................................... 3
REFERENCES...................................................................................................................................... 4
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TASK 1
Introduction
Nature care is the established organization from year 1996 which produces the skin
care products which are sustainable and eco-friendly. It produces broad varietal products like
moisturizing creams, facial scrubs and cleansing creams. At present, organization is
financially stable, but it has been extracted that its competitors are selling the similar sort of
products within market. Its main purpose is to offer guidance and information related to risk
management. The implication of policy to all employees of NaturalCare product and it is
extended for every future and current activities along with innovative opportunities Johnson,
(2018). The principles of risk management are commitment for implementing risk
management in effective basis, training and development of knowledge in this field.
Pestle Analysis
Political
 Government is committed for sustainability of the organization and environment.
 Current innovative polls indicate other win of Liberal government encourage for
future investment of nature care. Abioye et.al., (2019)
Economical
 Australia has presence of large natural resources and encourages foreign investment.
 Exchange rate
Social
 These factors lay focus on societal technical trends as this modern society is in skin
care eco-friendly products for maintaining the skin with best hygiene.
 With context to skin care, natural products lead to high demand as compared other
skin care products in the market.
Technological
 Technology is basic mode among customers and company which creates ease for
accessing all innovative products with upgraded information.
 Organization’s website is easily accessible by everyone and it strives for updating
without defects and errors.
Legal
 Product safety within Australia is governed through Australian Consumer Law and is
comprised of schedule to Competition and consumer Act (2010)
Environmental
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 Leading skin care brands in Queensland, Australia and it led to different global
environment safety laws which should abide through global standards.
 Campaigns such as pollution free and planet beautiful.
Internal and External Stakeholders
External stakeholders: Risk consultants, Risk auditors, Government organizations and risk
consultants
Internal stakeholders: Internal supervisors and employees
These stated stakeholders would have responsibilities with context to procedure of hazard
identification and required to be properly skilled to determine risk and systematic nature of
issue. They are required for enabling to view situation objectively and capability for
communicating the advice with reference to risk handling Logue et.al., (2018). Thus, main
challenge is for agreeing in such aspect for having the information communicated in open
manner.
Strengths and Weaknesses
Weakness
 Minimal understanding related to risk procedures and policy.
 Poor variety of the product
 Less qualified staff for starting new retail shops
 Limited range of the product
 Absence of products for infants, men and teens Kostner (2018)
 Absence of sunscreen lotion or cream in country with high temperature in
summers.
Strength
 Government support
 Eco friendly products
 Experience with natural care, beauty products and online marketing
 Alignment of recent standards and politic and procedures.
 Strong financial position
Critical Success Factors
The actual objective of the NaturalCare is to gain first position in retail companies in
Australia through selling qualitative and better price natural products. With context to
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expansion in 20% in Melbourne, Brisbane and Sydney it must raise competitiveness versus
local outlets and to attract new customers Dodds, Ali and Galaski, (2018). To attain its
suppliers who are 100% eco-friendly, it must sustain successful with its local suppliers.
Simultaneously, sustaining customer satisfaction of 95% staff could be retained and customer
focused training. The most important and relevant to the organization is expansion of product
range for attracting customers, there is requirement of sourcing innovative products and
presentation.
The other objective is improving the management procedure and training within
company, there must be implication of external and internal stakeholders and improvisation
of training and policies procedures Carmel (2018). Thus, to have enough store space and
accommodating products range as per demand expectation it must secure financing with
reference to expansion.
EMAIL TO CEO
To: CEO
Subject: Overview of risk management project
Respected authority,
On basis of risk management, there is analysis of NatureCare products with various
sections. In this, there is articulation of review of risk management policy and procedure,
risk management opportunities and its principles. Further, there is presentation of
PESTLE analysis with context to business environment where it operates. In the similar
context, all external and internal stakeholders are reflected with determined potential risks
and challenges. The most important aspect it articulated by determining strength and
weakness of its existing retail approach with financial perspective as well. Henceforth, the
report is analyzed with every essential criterion and through aligning its objective all
critical success factors have been determined for purpose of business expansion.
Thanks, and Regards.
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REFERENCES
Abioye, A.V., Mohammed, Z., Ahmed, A. & Ayeni, A.E. (2019). Tropical Journal of
Natural Product Research.
Carmel, E. (2018). The Globalization of Software Outsourcing to Dozens of Nations: A
Preliminary Analysis of the Emergence of 3rd and 4th Tier Software Exporting
Nations. The Digital Challenge: Information Technology in the Development Context,
Ashgate.
Dodds, R., Ali, A. and Galaski, K. (2018). Mobilizing knowledge: Determining key elements
for success and pitfalls in developing community-based tourism. Current Issues in
Tourism, 21(13), pp.1547-1568.
Johnson, K.A. (2018). Complementary and Alternative Veterinary Medicine: Where Things
Stand for Feline Health. Science & Technology Libraries, 37(4), pp.338-376.
Kostner, K. (2018). Vitamin and mineral supplements: Fishing for a natural treatment?:
Omega-3 fatty acids. AJP: The Australian Journal of Pharmacy, 99(1173), p.56.
Logue, D., Pitsis, A., Pearce, S. and Chelliah, J. (2018). Social enterprise to social value
chain: Indigenous entrepreneurship transforming the native food industry in
Australia. Journal of Management & Organization, 24(2), pp.312-328.
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