Risk Management Plan: Invitation to Discuss Consultation Meeting

This assignment presents a risk management plan, including an email invitation to marketing and administrative managers for a risk consultation meeting. The meeting aims to address various risks identified within the company, such as a lack of backup systems, capacity shortages, poor security plans, a limited number of qualified employees, and inadequate disaster recovery systems. The report outlines management approaches for each risk, including installing security measures like antiviruses and firewalls, implementing cloud-based data storage, increasing equipment capacity, recruiting and training employees, and purchasing a better generator. The author also invites the marketing and operations managers to highlight additional risks specific to their departments. The document concludes with a list of references.

ACTIVITY TWO 1
Role-play
Name of student
Name of instructor
Name of institution
Date

ACTIVITY TWO 2
Email to the marketing and administrative managers
To:
Cc:
From:
Subject: an invitation to the meeting.
I am writing to invite you to a meeting with the CEO and the shareholders to discuss the risk
management plan. I would like you to attend the meeting since your opinions and ideas are
needed to develop the plan. I would like you to give ideas on what you think should be added
to the risk management plan to make it more efficient. Additionally, research on more risk
management methods that could help the company.
The meeting will be held on Tuesday afternoon at the company’s boardroom.
Yours,
Operations manager.
Risk consultation meeting
The faces various risks that could hinder success in the future especially with the
current expansion plans. Deep research into the company has identified various risks
affecting the company which include lack of a backup system, shortage of capacity, poor
security plan, few qualified employees and a poor disaster recovery system. The risks require
proper attention to prevent failure of the operation in the future.

ACTIVITY TWO 3
The risk management process
The different risks require different management approaches to avoid causing failure
of operation. The risk of a poor security plan requires management by installing proper
security measures (Cole-Ingait, 2018). For example, the insecurity posed by the computer
system will be solved by installing antiviruses and firewalls that prevent unauthorized access
to the system.
Additionally, the risk of having a poor back up plan will be solved by having a cloud-based
operations system that will store the important data for operation. The cloud data storage will
provide cover when information stored in hard drives is lost (Cole-Ingait, 2018).
The risk of having inadequate capacity will be solved by buying more equipment to
produce more products to stock the extra retail shops (Cole-Ingait, 2018). The increase of
capacity includes such as buying more machinery, installing better computer software and
having more vehicles to transport products to the stores.
Moreover, the problem of few employees will be solved by recruiting new persons
and conducting training to multi-skill the existing employees. The multi-skilled employees
will perform a variety of duties thus easing the employment challenge (Griffin, 2018).
Furthermore, the issue of having a poor disaster recovery plan will be solved by purchasing a
better generator that responds quickly to power outages. The generator will provide more
power than the existing one to ensure that the extra outlets operate smoothly without failure
(Thompson, 2018). Finally, I would like to invite the marketing and operations managers to
highlight other risks existing in the specific departments.

ACTIVITY TWO 4
References
Cole-Ingait, P. (2018). The Socioeconomic Factors Affecting Small Businesses. Retrieved
from Chron: www.smallbusiness.chron.com
Griffin, D. (2018). Types of Employees Appraisal Systems. Retrieved from Chron:
smallbusiness.chron.com
Thompson, R. (2018). Stakeholder Analysis. Retrieved May 26, 2018, from MindTools:
https://www.mindtools.com