Risk Management Essay
This is a report from a member of the finance, audit and risk management (FARM) Committee. I am currently the assistant manager of the flagship store in Queen Street, Brisbane, and have been given the opportunity to manage the new store in Toowoomba. There are some information about the risk manage of the new store. a. Scope: MacVille recognizes that risk management is an essential component of good management practice and is committed to ensuring the implementation of risk management processes that focus on the proactive management of risks across the organization. MacVille is committed to achieving its vision, business objectives and quality objectives by the proactive management of risk at all levels of the organization. b. Goals: MacVille aims to deliver our valued customers the very best cafe-going experience. In three years, the business will have established a presence across the Queensland and NSW, with the opening of additional cafes. c. Analysis: to thoroughly identify risks, we must examine the external environment surrounding an organization.
This includes the political, economic, social, legal, and technological factors affecting the business. d. Research: As part of their overall strategy in the Australian beverage market, MacVille Pty Ltd have developed a chain of cafes in the Central Business District (CBD) of Brisbane, Queensland and the CBD of Sydney, NSW. The board of directors has made the decision to expand their operations in Queensland with the purchase and re-branding of the existing Hurley’s cafe in Toowoomba, 130km west of Brisbane. e. Describe: By way of background, MacVille has agreed to employ all existing staff on three months probation. The current supervisor James Mansfield, has been offered the position of 2nd in charge and he has accepted. While settlement on the purchase of the business is not for another few weeks, the seller has agreed to grant us full access to the store’s operational processes and store information.
I will liaise weekly with the Finance, Audit and Risk Management (FARM) Committee here at head office concerning the marketing, finance and store management functions that you are investigating. I will set up a regular meeting for you. Head office has a report on a similar expansion conducted by the NSW team and I hope you may help me in my research. You may need to review other statistical information and engage specialists to help you with your investigation. The legal firm Goldsmith Partners are advising MacVille on the Hurley cafe acquisition and would be available to help you with legal or any compliance issues. The landlord of the shop in Toowoomba, Ron Langford, is also a local councillor and has offered his assistance in getting established in Toowoomba. He has offered his email address for correspondence.