Risk Management Plan for Country Comfort Hunts Liverpool, Australia

Verified

Added on  2022/11/14

|16
|3612
|319
Report
AI Summary
This report presents a comprehensive risk management plan for Country Comfort Hunts Liverpool, a hospitality business in Australia. It begins with an executive summary and an introduction to the concept of risk within the hospitality sector, emphasizing its importance for business operations and asset protection. The report then delves into a detailed analysis of potential risks, including those related to the reception and lobby areas, and discusses a risk ranking system. It also outlines the challenges and benefits of implementing such a plan, providing a venue risk analysis form and concluding with recommendations for management. The report covers various aspects of risk, such as food safety, security, consumer demands, and transportation, highlighting the need for proactive risk management to ensure the company's functionality and protect its assets and workers. The report also emphasizes the importance of staying alert to uncertainties, prioritizing risks, and making informed business decisions.
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
By (Name)
Course
Professor’s Name
Institution
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
Executive Summary
This report has come up with a precise risk management plan for Country Comfort Hunts
Liverpool, a hospitality business in Australia that offers travel and hotel services. The set
objective of the risk management plan is to curb the risks that might threaten the standard
operations of the company. The risk management plan aims at protecting the company assets and
its workers. The management plans aim at ensuring that the company remains functional
throughout, even, in the event of a risk. The risk ranking in use provides a platform of how risks
are managed adequately considering the magnitude of the risk. Also, the report provides an
analysis of risks surrounding the reception and lobby area of County Comfort Hunts Liverpool.
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
Table of Contents
Executive Summary.....................................................................................................................................2
Introduction and Case Overview.................................................................................................................4
Definition of Risk......................................................................................................................................4-5
What is Subject to Risk?...........................................................................................................................5-6
Why it is Essential for Hospitality Business to Implement a Risk Management Process..........................7-8
Venue Risk Analysis…………………………………………………………………………………………………………………………………8
Risk Ranking System………………………………………………………………………………………………………………………………..9
Challenges………………………………………………………………………………………………………………………………………….9-10
Benefits of Such Apprisal……………………………………………………………………………………………………………………..10
Purpose of Venue Condition Analysis........................................................................................................10
Conclusion and Recommendations to the Management……………………………………………………………..……11-
12
Venue Assessment Form……………………………………………………………………………………………………………………….13
References…………………………………………………………………………………………………………………………………………….14
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
Introduction and Case Overview
Hospitality providers face a large number of particular risks in their daily operation. Risk is the
exposure of a company to factors that will lower its profitability and lead it to failure in terms of
businesses and investments, in this case, the hospitality industry. Risks examine the market flow
and market dynamics; that is why it is essential to consider risk management in the sector (Anon,
2015, p. 15). The hospitality industry is facing significant risks currently. From staff to security,
technology, new regulations, market perception of risk, constant consumer demand changes,
uncertainty in global travel, and inadequate services offered. The threats ought to utterly
jeopardize service delivery. The paper aims at examining risks, risk management plans, and the
need to adopt a risk management system using a case study of Country Comfort Hunts Liverpool
Company in Melbourne, Australia.
Definition of Risk
A risk is an unexpected, negative occurrence that is often caused by external or internal factors.
In Country Comfort Hunts Liverpool, for instance, risks incurred include food safety, a factor
that when not put into consideration might lead to disruptions of the business. For example, an
outbreak of diarrhea as a result of poor hygiene can lead to a tainted reputation of the premises
and legal suits filed by patrons (Bavik, 2016, p. 50). Bedbug infestations is also a risk that can
compromise the operations of this company. Bookings will decline as a result. Risk is a vital
determinant in evaluating the performance of the hospitality premises. According to Bavik
(2016, p. 55), a business premise should be anticipatory in regards to what might occur it, this
aid in putting in line prior measures to counter the inevitable, in this case, the risk. Due to the
sensitivity of risks experienced as partly attributed to the nature of the industry, it is vital to carry
out a thorough assessment of the risks and put in place measures for effective operation. Other
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
potential dangers in this company are theft of foodstuffs, money, and other equipment by
untrustworthy or dishonest employees/ hotel attendants (Boella and Goss-Turner, 2012, p. 88). In
the kitchen, the risk could be food poisoning something which significantly affects the reputation
of a hospitality player in the market or even burns out of a mistake when making or trying to
cook an order.
On the other hand, a hazard differs from a risk. According to (Bavik, 2016, p. 53), hazard refers
to the potential cause of harm or the adverse loss such as stress, being bullied at the workplace,
chemicals, power breakage and shocks. In Country Comfort Hunts Liverpool, the main hazards
surround health and wellness, workers demographics, management programs, and legislation.
The management can manage risks, but hazards have to be controlled to ensure that the triggers
are compacted/ eliminated (Gibson and Parkman, 2018, p. 6). With this doing, the personnel of
this company work with little or no stress and thus take full responsibility for their works as their
morale to perform is increased to considerate rates.
What is Subject to Risk?
The most common and critical risks in Country Comfort Hunts Liverpool include;
Reception area risks – In the case of Country Comfort Hunts Liverpool, there are front office
receptionists in the hotel. Some of the risks in this area include falling or sliding in the slippery
floor, risks of missing customer calls when the receptionist is not in the reception, risks of violent
visitors and risks of computer or landline breakage among many others. In this context, Country
Comfort Hunts Liverpool should set strong policies and controls to mitigate these risks from
occurring (Wetzel and Walid, 2015, p. 14). For example, pinning caution messages that the floor
is slippery, servicing the computer regularly, and ensuring that there is a receptionist to attend to
all customer calls.
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
Lobby area risks- The lobby area is also subject to risk and the common risks in this area include
spillages, terrorism risks, natural disasters, and other risks associated with being unsupervised in
rooms and around hotel corridors and also lounge areas. Also, the risk of falling from hotel
balconies is also common and need to be prevented, especially for the children. Country Comfort
Hunts Liverpool needs to reinforce security measures as an approach to prevent these risks from
occurring (Anon, 2015, p.20).
Attacks- The security of the premises should always be reliable, guests in the company, in this
case, should be satisfied with the protection of the premises. Motels are often referred to as
homes away from home; hence, their safety should be assured (Chauhan et al., 2018). A motel
with good security improves the rapport of the guest with the Motel.
Consumer demands- Country Comfort Hunts Liverpool needs to be flexible enough to meet the
ever-changing consumer demands. The company should, for example, incorporate contemporary
technology in its operations to be on par with the emerging trends. Bookings, for instance, should
be online, and the systems should be swift enough — new advertisements for promotion. Various
related services should be offered in one place, considering the demands of the consumer. For
example, massage parlors, beauty parlors, barbershops are nowadays standard in high hospitality
premises like motels (Scott, 2015, p. 70). This ever-changing trends should be adopted swiftly by
country comfort hunts Liverpool to avoid getting stuck and maintain the competition and up
service delivery.
Transportation- Motels have incorporated travel services in their operations to cater to customer
needs. A perfect example is the chauffeurs' personnel in high-end motels who offer their services
to guests — also, the risk of international travels, convenience, and reliability. Certain global
travel providers fail the hospitality industry to the extent of failed tours. And this poses a
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
significant risk to the hotel's sales and thus reduced profitability (Cui et al., 2010, p. 999). Also,
adverse weather conditions bring about delayed tours and travels, and this is an inherent risk that
goes beyond the control of a hotel’s management.
Why it is Essential for Country Country Comfort Hunts
Liverpool to Implement a Risk Management
The reception and lobby area of the hotel has not conformed to the set design principles since the
management has not met the security and landscaping requirements. The desks need repairs by
installing locks to reinforce security concerns and also the walls need proper painting (Brockett
et al., 2015, p. 140). It is a process that when entirely adhered to in order of necessities bolsters
decision making in the hospitality industry. It is, therefore, imperative for Country Comfort
Hunts Liverpool to implement a risk management process.
Country Comfort Hunts Liverpool needs to implement the process to stay alert in the case of
uncertainties. Being alert means that the company will be able to deal with any challenge that
comes on its way (Wittner, 2014, p. 121). A good example has backup power just in any case
power outages are experienced. With a power back, activities such as preparing orders, desks
arrangement, visitors comfort when seating, preserving consumables, and lighting will be fully
taken care of and thus raise the standards of services given in the company.
Need for universal design lighting and floor finish design is also vital for the hotel. Color
preferences, the size of the garden and quantity of overall aesthetic should be well organized.
The proper texturing of the ceiling would also be a great step to reinforcing floor and lobby area
security. In simple terms, there is need for renovation in the reception and lobby areas of the
hotel (Dionne, 2013, p 166).
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
An appropriate risk management process will ensure that Country Comfort Hunts Liverpool
prioritizes risks in terms of frequency and impacts. The process will aid the business, for
example, in monetary allocation. In this case, the management will find it easy to account for the
costs allocated for different uses in the company. As a result, cases of losses and theft for money
will be reduced and thus improved efficiency and profitability.
Risk management has vast benefits, especially in matters costs and preparedness (Wittmer, 2014
p.58), and therefore, the company needs to adopt the plan. Last, implementing risk management
forms part of business decision making as it helps the management to create/ establish a culture
that values risk management programs within the company. As a result, this will contribute to
reduced rates and charges in the company while shopping to increase market-based and to
increase assurance (Bharwani and Mathews, 2012, p. 420).
Venue Risk Analysis
The venue of the case study is Country Comfort Hunts Liverpool, a middle-class hospitality
company in the heart of Melbourne City in Australia, which serves people from all walks of life.
The company carries out its operations 24/7 including weekends and public holidays. The
company has 250 capacity guest rooms and over 200 employees. Due to its large capacity and
substantial operational costs, the company qualifies as a venue for risk analysis.
Some of the risks experienced by Country Comfort Hunts Liverpool include;
i. Staff
ii. Branding
iii. Security
iv. Property loss
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
v. Employee injuries and safety
vi. Spacing
vii. Cybersecurity
viii. Technology dynamics
ix. Food safety
Risk Ranking System in Use
Objective Setting- This is a process of evaluating the set goals of Country
Comfort Hunts Liverpool and its strategy in dealing with risks.
Event Identification- This is external factors which affect the implementation of
the set objectives. The elements can impact the company positively or negatively.
Risk Assessment- Risk assessment dwells much in assessing the far at which the
risks can affect the objectives of the company.
Risk Response- Risk response looks at how the company handles risks; for
example, the company can manage risks by cost-sharing or simply dodging the
threats.
Control Activities- Control activities entails the policies set aside in case of risks,
mechanisms of handling risks, and the procedures of reporting. Control activities
serve the purpose of ensuring a perfect risk response is acquired.
Information and Communication- In cases of risk, the data collected concerning
risk management is passed on to the company personnel so that they are obliged
to perform their duties.
Monitoring- Monitoring entails risk management on a daily basis.
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
Challenges
Identifying a venue for the case study is not a walk in the park since many factors have been
considered to achieve the desired outcomes. Factors considered include the capacity of the
company, the number of employees to weigh the efficiency and quality of service delivery
(Naeem & Zaman, 2013, p. 8). Operational costs are also factors that the company should
consider. Risks mostly affect the financial stability of an organization.
Report writing is challenging, especially when interacting with people in the field, an
unwillingness by some individuals to share information is a common phenomenon. Lack of
cooperation threatens the reliability and validity of most reports (Scott, 2015, p. 54). Some risks
become beneficial, depending on how they are handling. In the event, Country Comfort Hunts
Liverpool certainly experiences a surge in guest bookings, and resources are scarce, the company
will benefit from a risk management plan, for instance, by improving the infrastructure. But if
the company lacked a proper plan, then the risks will not work on their favor (Tsai and Chen,
2011, p. 330). Such chances are difficult to categorize because of how they are manipulated to
favor the current situation.
Benefits of such Appraisal
Identifying a suitable venue for a case study acts as a benchmark for a good and detailed report
since all the aspects discussed in the report are tightly knitted with the business experiences of
the Motel (Naeem et al., 2013). The activities of the models are determinant in evaluating the
risks that are associated with country comfort hunts Liverpool. Besides, such appraisal helps in
determining what is right and in also determining its lifelong benefits to the company.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
Purpose of Venue Condition Analysis
The fundamental reason for carrying out venue condition analysis is to determine whether the
venue conforms to set objectives of the report, in this case, the notion of risk.
The size of country comfort hunts Liverpool, and its operations provide a required platform in
carrying out the case study (Melo et al., 2017, p. 410). Also, venue condition analysis helps in
the evaluation of the status of the company’s meeting rooms to determine if they are safe and
secure for the guests; this helps in avoiding risks.
Conclusions and Recommendations for Management
In the end, risk management is a thinking approach that permeates the entire organization from
top management to the front line wait staff. For any company to perform and compete in the
industry, setting up a robust risk management program is mandatory. In particular, country
comfort hunts Liverpool must rely on risk management program to mitigate risks and avoid
hazards; this will help in improving performance and profitability. Therefore, Country Comfort
Hunts Liverpool should adopt a flexible wage bill that will motivate its workers and at the same
time balancing the ledgers. A happy and motivated workforce provides quality services to
consumers and is not easily tempted to move to other organizations. A satisfied workforce in
terms of monetary and emotional wellbeing is a productive workforce. In this case, setting fair
overtime pay for the personnel who work for additional hours will be very important for the
company.
Country comfort hunts is a fast-growing hospitality business that is in dire need of expansion. To
avoid a future crisis, the company should put in place measures to expand the facility in terms of
infrastructure and workforce. The company should employ more people to serve the growing
number of guests. Before conducting the employment, Country Comfort Hunts Liverpool should
Document Page
The Notion of Risk: A Case Study of Country Comfort Hunts Liverpool, Australia.
ensure verification of applicants' academic qualifications and professional experience. Ensuring
that the personnel recruited deserves the work and have the right requirements to make the hotel
compete in the market.
Since Country Comfort Hunts Liverpool is growing exponentially, there is also a need to expand
terms of technology technologically. In this case, the management needs to embrace the use of
new technologies in the hospitality sector. The technology ensures proper stock-taking, accurate
recording of data, excellent appraisal of performance, a unique, rewarding system of employees,
and trustworthy to the target customers.
Country comfort hunts Liverpool is serving people from Australia and other countries. There is,
therefore, need to employ adept individuals who can help clients well.
Country Comfort Hunts Liverpool management should put in place robust measures in matters
security to earn clients trust and establish a good rapport. Modern security systems should be
installed to curb theft and other unpleasant vices.
chevron_up_icon
1 out of 16
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]