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Risk review
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Assessment Task
1
BSBRSK501B
Manage risk
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Table of
Contents
4. Research information should include the source, primary/secondary data,
key information gathered.
1.
Scope – covering at least the following.
a.
Business unit – MacVille
cafes Queensland.
b. Risk in
relation to functions – human resources management, financial operations, WHS,
supply chain, local governance and compliance issues.
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Hurley’s Cafe
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l Easy access for local customers and highly visible for
tourists.
l The two hour delivery
l The family run business.
l Company branded supplies in CBD
Brisbane
l The store currently uses 41,500lt
a week.
l Easy access to busses and the
stores central location.
l 50% chance of risk
l Qualified chef
l No established process for dealing
with injuries that happened at work.
l No password protected to any
information in computer
l The wage and superannuation
calculations in the hand
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Ø Lack of internal controls, particularly over cash handling,
monitoring and recording.
Ø Failure to meet compliance standards in WHS, Privacy and
industrial relations law.
Ø Lack of written policy and procedures to guide staff in
carrying out their duties.
Ø Lack of a professional business culture in the family run
business.
Ø
Failure
of the business to monitor the external environment and find opportunities and
threats to the business.
c.
Goals – should include some
of the following.
d. To
appropriately manage the risks involved with the operation of the Toowoomba
store.
l Case - The computer with all
the stores employee details, and financial records was not password protected
and anyone could access the information.
l
Solution - Make a ID and Password.
e.
To give the new manager
significant insights into the store’s operations.
f.
To ensure there is a smooth
transition to the MacVille systems.
2.
To encourage the new manager to give ongoing support for risk management.
3.
PEST analysis should include at least the following
Ø Opening more cafes in the
surrounding shopping centres like Wilsonton, Clifford Gardens and K-Mart Plaza.
Ø
Government report ‘Economic Brief.’
Ø
Toowoomba was obviously a place for retirees
Ø
Federal Government’s National Broadband Network being
rolled out in Toowoomba
Ø
law for expansion to café
Ø
Enquiries of a large international chain of coffee
shops
SWOT analysis
ü
Strengths – store on the corner of the two main
streets of the city, innovative and popular range of rice wraps.
ü
Weaknesses – the lack of sales promotion techniques,
fit-out in parts looked old and unattractive.
ü
Opportunities – opportunities for opening more cafes
in the surrounding shopping centres, by-law allowing cafes to expand their
footpath dinning.
4. Research information should include the source, primary/secondary
data, key information gathered.
a.
Site visit with James Mansfield- primary
data: store operations
ü
Fit-out
- old, unattractive, unstable, broken, worn
ü
Cash
handling -
keep on the premises overnight in the cash register
ü
Employment - a family run store and some
family members were employed on the staff.
ü
water
usage -
41,500lt a week
b.
Interview with Ron Langford –
primary data: external environment
ü government report ‘Economic Brief.’
ü National Broadband Network
ü By-law: cafes to expand their footpath dinning and so put
more tables and chairs outside their premises.
ü international chain of coffee shops had been making
enquiries around town about opening a store
ü by-law concerning efficient water usage
c.
Extract
from Toowoomba regional council – secondary data: economic indicators
ü
tourist
numbers -15,656 (2010/11), 10,700 (2009/2010)
ü
unemployment – 3,446 (2011), 2,991 (2006)
ü
population
growth - obviously a place for retirees
ü
Regional
growth - Throughout the second half of the nineteenth century,
Toowoomba would prosper, being proclaimed a municipality in 1860, a township in
1892, and a city in 1904.
d.
Extract
from MacVille NSW
ü Lack of internal controls, particularly over cash handling,
monitoring and recording.
ü Failure to meet compliance standards in WHS, Privacy and
industrial relations law.
ü Lack of written policy and procedures to guide staff in
carrying out their duties.
ü Lack of a professional business culture in the family run
business.
ü Failure of the business to monitor the external environment
and find opportunities and threats to the business.
5. Checklists, flowcharts and diagrams should include the following.
a.
Human resources management
risk.
i.
No written policy and
procedures manual and limited staff training – could lead to errors and
inappropriate actions.
Coffee shop
strives to maintain an environment free from discrimination and harassment,
where employees treat each other with respect, dignity and courtesy.
ii.
Authorisation system not
clearly defined – could lead to fraud.
Coffee shop
must follow proper procedures and exercise internal
controls when handling the collection and deposit of cash and checks. A system
of internal controls is designed to provide reasonable assurance that errors
will be detected and corrected in the normal course of activities
iii.
Lack
of sales promotion techniques – impacts of the stores financial viability.
Be sure to offer free Wi-Fi in your shop,
for example, and to install electrical outlets at each table for laptops. Book
live entertainment in your shop on a regular basis, host poetry readings and
other events with a community feel. If consumers have more than one coffee shop
option in your area, make sure your shop offers something the others do not, so
that patrons want to bring their friends to see the difference.
b.
Financial operations risk.
i.
No separation of duties – could
lead to fraud.
ii.
The banking was not done every
day and was kept on the premises overnight without a safe – assets not
protected could lead to thief.
iii.
Not
all takings from the cash register by family staff members were recorded –
unacceptable behaviour in a company store and could lead to misappropriation of
funds.
c.
WHS risk.
i.
Manager two hour drive to and
from weekly manager’s meeting – could lead to physical injury.
ii.
Unstable and broken chairs –
customers injured; compliance breach and customer suing, reputation loss.
iii.
Carpet that was worn through
was simply taped over with gaffer tape – compliance breach and customer suing,
reputation loss.
iv.
No established process for
dealing with injuries happening at work – staff need a quick and organised
response to injuries; staff work loss, unions suing, reputation loss.
d.
Supply chain risk.
i.
Impractical to deliver fresh pastry from the
company’s central bakery plant in timely manner – brand loss, quality service
loss.
ii.
Supply of company branded supplies – brand
loss.
e.
Local governance and compliance
risk over.
i.
Water use – company could be
fined – reputation/brand loss.
ii.
Incomplete employment records –
unions could sue – government penalties – reputation/brand loss, $50,000 fine.
iii.
Confidentially
of records not guaranteed – privacy law breach.
6. Notes should:
a.
be a summary of all discussions
with manager (assessor)
b.
be in dot-point form
c.
should
include recommendation made by the manager to the candidate, especially
recommendation for methods of communication with stakeholders.
ü
Lack of internal controls, particularly over cash
handling, monitoring and recording.
ü
Failure to meet compliance standards in WHS, Privacy
and industrial relations law.
ü
Lack of written policy and procedures to guide staff
in carrying out their duties.
ü
Lack of a professional business culture in the family
run business.
ü
Failure of the business to monitor the external
environment and find opportunities and threats to the business.
7. Draft communication should:
Decisions to
rectify problems are made at regular meetings of the senior management team.
Comprehensive reporting at board and sub-committee meetings is designed to
monitor key risks and their controls.
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