MacVille Risk Management Assessment 1

The effectiveness of the MacVille Risk Management

GOALS

• Renovate café to change the old and unattractive look into a new and attractive one, need to change the furniture and the carpet.
• Installation of water tank the establishment of water tank at café can help to preserve water for the whole day and will lead to less wastage of water and also help to control financial issues as money will be saved by storing water and using limited amount of water.
• Set up policy and procedure to guide staff role by placing a set up like written policy and procedures manual will provide an easy and consistent access to café’s policies and procedures instead of the oral method that was used by Mr. Hurley.
• Training staff to reduce water waste by providing training to staff about limited use of water can help in reduction of water bill and will directly lead to more savings.

SCOPE

The scope of new business outlet at Toowoomba requires reviewing the associated risks that are important for further risk management for the new cafe. So, the risks related to human resource management, organizations health and safety and monetary operations are considered for the new cafe.

The effectiveness of the MacVille Risk Management

• monthly reporting
• policies and procedures
• risk management review
• business planning and budgeting
• external audit

PEST Analysis

Political: The Federal Government presenting fines of up to $50,000 for excessive water breaches. The store currently uses 41,500lt per week. The water have been wasted under inappropriate ways of usage such as using half full running dishwasher, washing fruits and vegetables under a fast running tap, Toilet are the single flush system and fully watered for the non- native flower plants. With the establishment of a Water Tank, this will decrease water wastage.

Economic: Water usage is not restricted in the café so water utilization assumes a huge part. According to the new fines accumulated by the government, water preservation needs to be thought seriously about when opening the store. The momentum water use of the store is 41,500 liters of water for every week. This is clearly a lot of water so routines to moderate water need to be executed. There are a couple of thoughts have been examined to monitor water usage, for example, Upgrade the current single flush toilets to double flush toilets; this will cost $7,500 to update. Install a water tank in the yard for general utilization furthermore to water the non-local streaming plants. These strategies will help to reduce the water utilization issues and also decrease the chances of fine.

Social: The location of the store on the corner of the two main streets of the city makes easy access for local customers and highly visible for tourists. The cafe will be attracting a large percentage of retirees because of the easy access to busses and the stores central location.

Technology: The Federal Government’s National Broadband system being in Toowoomba that would allow efficient and effective video streaming and teleconferencing. I could manage meeting with Landlord and management team by videoconference so have to drive less to Toowoomba. Introducing a WI-FI system will be beneficial as it will attract more customers.

Table of stakeholders template

SWOT Analysis

Email to stakeholders

REPORT SUMMARY

The risks are identified and the discussion with manager is done about the following risks:

• Manager’s travel risk – physical injury.
• Possible- lack of inside controls like employee management.
• Banking risk – theft of cash left on premises.
• Likely - reputation/brand misfortune and punishment
• No security and control over money like observing and recording.
• By-law Compliance risk – reputation/brand loss and fines.

Now action will be taken to avoid these risks.