Essay Company Risk Management Policy and Procedures – Management Assignment Help

Assignment Task :

Assessment Task 2 Instructions 

Carefully read the following: 

You are the Operations Manager of a medium-sized Australian company, NatureCare Products, based in Brisbane. The company commenced business in 1996, and manufactures eco-friendly, high quality beauty skin care products. 

The business was established to cater for a growing demand for skin products that contain eco- friendly and natural ingredients. There is also an emphasis on eco-friendly packaging. The company makes all its products in a small factory. 

The company sells its products direct to a chain of health food shops across Australia, as well as online through its own web site. Products ordered online are shipped directly to customers from the factory. Products provided to health food shops are provided to the health food shop distributor who then distributes the products to all its stores. The relationship with the chain of health food shops is a long-standing one (ten years). 

The company targets customers that want high quality, eco-friendly products. Market research has identified that around 70% of their customers are professional women aged 25 to 55. 

NatureCare Products’ strategic priorities focus on business diversification and growth. They aim to increase their market share by 10%, and to expand the existing product range to attract more customers. 

At a recent board meeting, the two company shareholders and the CEO discussed options for expanding the business, including establishing a chain of retail outlets. The idea is to initially set up one retail outlet in central Sydney, Brisbane and Melbourne. Products will continue to be made in the company’s factory and shipped to the retail outlets. 

The CEO has asked you to investigate this, undertaking a risk analysis on establishing a chain of retail outlets. The CEO and shareholders are keen to get the business expansion started as soon as possible, so you need to get your risk management plan in place immediately. 

Currently the company employs the following staff: Accounts Manager, Marketing Manager, Marketing Assistant, Sales Manager, four customer service representatives, Office Manager and Administration Assistant, Operations Manager, as well as the CEO and two shareholders as indicated above. 

The company currently has a Risk Management Policy and Procedures in place that incorporates the AS/NZS ISO31000:2009 Risk Management Principles and Guidelines. 

Complete the following activities: 

1. Develop a risk briefing report. 

Review the case study information provided to you, as well as the company’s risk management policy and procedures to determine the scope of the risk management process required. Use the internet to search for relevant information on risk management standards. You should also review the recent Team Meeting Minutes on the business expansion project to inform your report. 

Use the Risk Briefing Report Template to guide your work. Your report will be sent to the CEO for initial feedback and then you will meet with your team to brainstorm further risks associated with the business expansion project. 

Your report should include the following: 

• Introduction, including the purpose of the risk analysis 

• The scope of the risk management process, any risks that may apply to the scope, and objectives and critical success factors for the area included in the scope 

• An outline of the risk management process as per the organisation’s policy and procedure, as well as how the organisation’s process aligns with the risk management standards as identified in the link provided to you. 

• A PESTLE analysis identifying the key factors that impact on the environment in which NatureCare Products operates and their relevance to the risk management process. You should also use this analysis to identify important factors that may influence consumer needs and desires as part of analysis of external stakeholders, as well as to inform the key risks you identify below. 

• You are also required to identify at least five risks identified with the expansion, and at least one potential risk treatment option for each of the risks you identify. 

• Identification and analysis of internal and external stakeholders and the issues they may have that are likely to impact on the risk management process. 

• An analysis of the strengths and weaknesses of the company’s existing retail approach namely, online and through health food shops. 

• Analysis of critical success factors, goals or objectives for the business expansion project. 

2. Submit risk briefing report to the CEO (your assessor). 

Your assessor will provide you with feedback and approval to proceed. 

3. Invite your team (your assessor) for a meeting to brainstorm risks associated with the 

company’s proposed expansion. 

Your should briefly explain the purpose of the meeting and advise of the date and time for the meeting (your assessor will advise you of the date and time and also provide you with two students who will be your team). The meeting is to run for approximately 30 minutes.