...Manage Risk BSBRSK501B Risk review plan for MacVille PTY LTD Task 1 Janith Damboragama MacVille business plan FY 2011/12 Description about the company Mission MacVille cafes serve competitively priced, high-quality coffee and gourmet food in a safe and comfortable café-style environment. Our friendly, well-trained staffs provide superior customer service. Vision MacVille aims to deliver our valued customers the very best café-going experience. In three years, the business will have established a presence across the Queensland and NSW, with the opening of additional cafes. Values • Customer-focus • Safety • Teamwork • Performance excellence Strategic directions The strategic context in which MacVille will achieve its mission and vision it through: • Engaging with customers and customer research • Developing and improving products and quality History of Hurley’s Café Hurley’s café is located in Toowoomba city at Ruthven Street, which is the corner of the two main streets. Also, Hurley’s café is in 130km west of Brisbane. This café is a family own business and some family members were employed on the staff. As a family business café, James was the person who supervises the operations of the store and Mr.Hurley, as manager would initiate with employees salaries. Scope - Project MacVille Pty Ltd has developed a chain of cafes in the Central Business District of Brisbane, Queensland. The board of directors...
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...Assessment Task 1 Risk Review Macville Risk Management Policy and Risk Management Strategy Written Report Keeley Lassig SCOPE To become a water wise cafe, implementing policies and procedures in order for the cafe to run effectively. Upgrade toilet and dishwasher. Purchase frozen par-bake cooking system. GOALS * Serve competitive high quality coffee and food. * To have friendly well trained staff who provide great customer service. * Be Water wise * Be a profitable establishment with ongoing growth STAKEHOLDERS Stakeholder | Internal/External | Role in Process | Stake in Process | Macville Pty Ltd | Internal | Owners | High | Me | Internal | Manager, Finance, Audit | High | James Mansfield | Internal | 2nd in Charge | High | Paula Kinski | Internal | CEO | High | Goldsmith Partners | External | Legal Advisers | Medium | Ron Langford | External | Landlord | High | Public | External | Customers | High | Staff | Internal | All Roles | High | Suppliers | External | Supplying Stock | High | ANALYSIS PEST Policies and Procedures – to include Human Resources Policy Financial Policies Corporate Governance Policies Business Planning and Budgeting External Audit Risk Management Reviews Monthly Planning Taxation Economic Growth Computers Water Policy Establish own products Employee Confidentiality Wage and Super Records National Broadband Network Footpath Dining Incedent reports SWOT Staff Customers Profit...
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...the finding and assessing of risk of MacVille’s Toowoomba branch. Risks indicated in previous report are explicitly divide into 3 main parts which are similarly to those mentioned and reviewed; bank risks, physical risks, and by-law compliance risks. The purpose of this report is to analyze risks identified in more detail, prioritizing its, and identify suitable options of treating such risks to reduces the probability of its occurred. Background The report previously produced indicated and assessing the possible risks that may affect MacVille’s Toowoomba branch in which the risks assessment had been submitted to management teams. Scope Statement This report will be focusing on the risks that Toowoomba store exposed to and analyze its likelihood consequences of the risks foreseen, priority in treating each risk and its optional in treating. It wills mainly focusing on the issues raised from the meeting, financial risks, physical risks, and by-law compliance risk. Policy The risk management and process will be conducts in compliance with recommendation and guideline set by MacVille Pty Ltd and its OHS policy. This document is mainly for internal used. It will be implement and used as guideline for risk management plan for Toowoomba branch, once it being approve by management team. Approach The information used will be based on the meeting with many related parties, observations, and analyse of situations in order to negate the risks from occurring. Decisions and...
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...Scope Risks are found in all organisational activities. The background behind this report is to manage the current risks that are currently affecting the MacVille Cafe, Toowoomba and to enhance any opportunities available to the organisation. The purpose of this risk assessment is to identify risks related to the MacVille Cafe, Toowoomba. The risk assessment will be utilized to identify risks related to the cafe. During inspection of the organisational premises, many risks have been identified as potential high-risk. Goals 1) Put a Policy and Procedure in place - by putting this in place and having a hard copy available. Instead of having Mr. Hurley address this manually each week, all staff will have will have something to turn to on a daily basis if they weren't at the cafe when Mr. Hurley was present. 2) Train staff in water use - by giving the staff proper training in relation to the water usage at the cafe, this will help water waste reduction and will help the organisation out financially. 3) renovate the Cafe - By renovating the cafe, fit-out will look inviting and refreshed. Replacing any old, broke and unstable furniture, and removing old carpet, will benefit the organisation by decreasing and accidents where staff and customers are concerned. 4) Water Tank Installation - by having a water tank installed, it will allow more savings on the water bill, which will benefit the organisation in many financial ways. The cafe can collect rainwater and substitute...
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...Identify the internal and external context for risk management Introduction: in the October of 2015, MacVille has started a relationship with a small village that grows coffee beans called Papua New Guinea (PNG). The business will provide equipment and high-level skilled training to the village in exchange for cheaper roast beans. Internal context: MacVille is an Australian coffee supply business. It imports and supplies top quality coffee for cafes and restaurants. Their vision is “Within five years, MacVille intends to have established itself as the number one coffee supplier for fine coffee shops and restaurants in Australia.” The business has strategic directions to achieve its vision. MacVille also has Risk Management Policy and Procedure, which shows what to do to reduce level of risk, how to do it and who has responsibility. The business has Risk Management Process follows Risk Management Process Australia standard. External context: * Legislations: Macville follows legislation, standards and codes of practice as Work Health and Safety Act 2011(Qld), Australian Securities and Investments Commission Act 2001(Cwlth), Corporations Act 2001(Cwlth). PNG has developed a new OSH legislation, a new OSH framework, a new OHS structure that is economically driven. In April 2011, the Governments of Fiji and Papua New Guinea introduce a new program that was intended to improve the standards and practices on the workplace. * Economic environment in PNG: PNG’s economic...
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...Identify Risk and Plan Risk Management MacVille Assessment 1 Submission details (Due: week 6) Candidate’s name | | Student ID | | Assessor’s name | Olga Borovkova | Email | | Assessment site | Cambridge International College | Assessment date/s | | Time/s | | Contents Risk Context 2 Have your read the assessment????? 2 Your role and task 3 Internal Risks Context 3 External Risks Context 4 Evaluation Criteria 4 MacVille Risk 4 SWOT 5 Check list 5 Stakeholders 5 Research 5 Risks 5 Risk Analysis 5 Risk likelihood table 5 Risk consequences table 6 Risk Matrix table 6 Level of risks for MacVille 6 Risk evaluation 6 Control Measures 7 Resources 7 Consultation 7 Appendices 7 Appendix 1: MacVille Risk Register 8 Appendix 2: MacVille Risk Treatment Action Plan 9 Risk Context See for some examples: https://sielearning.tafensw.edu.au/toolboxes/toolbox904/toolbox904/u2_cond_risk_ass/u210_estab_conte/u210_estab_conte.htm Have your read the assessment????? Please, do not just list what is in the template. You must discuss and explain why it is important to know or discuss, or understand? Your role and task You have recently been assigned to work in a project team charged with the implementation of the new business endeavour for MacVille. Your duties within the project team include: * risk identification * analysis * evaluation * implementing and monitoring risk treatment, particularly in own areas of...
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...BSBRSK501B Manage Risk Risk Analysis Assessment description: Using the information gathered in Assessment Task 1 and the case study provided, examine the likelihood and consequences of identified risks, prioritise the risks and determine options for treatment of each risk. Using this information you are required to develop an action plan for implementing risk treatment, document the plan as required, and communicate the risk management plan to relevant parties. Assessment Questions: 1. Using the case study information provided in this assessment and in Assessment Task 1, develop a report for your manager (assessor) with the headings as described below: a. Likelihood – For each risk, assess the likelihood of the risk occurring. b. Consequence – For each risk, assess the consequence of the risk occurring. c. Priorities – Use a risk calculation table to assist in prioritising the risks. d. Options – For each prioritised risk, outline at least two suitable options for treating the risk. In your report, include an explanation of the process you used to identify risks and assess likelihood, consequence, priority. Also include an explanation of why options you suggest for controlling risk are: i. likely to be effective ii. Feasible for the organization 1. In your report, include an explanation of the process you used to identify risks and assess likelihood...
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...Risk Management 1-‐A Likelihood Banking Risk: The Likelihood of a break in at Macville café I think is in the possible category. It’s not extremely high but with the banking not been done regularly enough because of the distance to the bank from Macville. This could attract theft if certain people are aware of this Managers Travel Risk: While the possibility of this happening is unlikely, it’s a very serious risk to have there and needs to be focused on heavily from the risk management team. By Law Compliance: The likelihood of this happening is likely. By law compliance is usually policed quiet closely from authorities. If Macville isn’t doing the correct thing it will most likely found out and face fines. 1-‐B Consequence Banking Risk: Minor consequence: While getting broken into and losing money through theft is not an ideal thing to have...
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...GUIDE TO THE ASSESSMENTS TASKS Assessment Task 1: Risk review Outcomes Submit a completed written report? Submit notes of meeting (including feedback) with manager/supervisor (assessor)? Submit a draft communication to be used with stakeholders? Submit report and accompanying documents in agreed timeframe? Performance indicators Scope – covering at least the following. a. Project – MacVille to expand their operations in Queensland and purchase and re-brand an existing cafe in Toowoomba. b. Business unit – MacVille Cafes Queensland. c. Risk in relation to functions – human resources management, financial operations, OHS, supply chain, local governance and compliance issues. Goals – should include some of the following. a. To appropriately manage the risks involved with the operation of the Toowoomba store. b. To give the new manager significant insights into the store’s operations. c. To ensure there is a smooth transition to the MacVille systems. d. To encourage the new manager to give ongoing support for risk management. See stakeholder feedback table in Appendix. Analysis. a. PEST analysis should include at least the following. i. Political – federal legislation concerning efficient water usage, by-law allowing cafes to expand their footpath dinning. ii. Economic – gross regional product growth of 8.9%, number of visitors down 18%. iii. Social – place for retirees, population growing. iv. Technology - WIFI in cafe, an innovative frozen par-bake cooking...
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...``Risk analysis Submission details Candidate’s name Thilakshi Perera Phone no. Assessor’s name Tardeesh Kaur Phone no. Assessment site Assessment date/s Time/s The Assessment Task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective In this assessment you are to analyse the risks identified in the case study, to assess likelihood and consequence of risks, evaluate and priorities risks, and determine options for treatment. You are also required to develop an action plan for treatment of risks, and communicate it to relevant parties. Assessment description Using the information gathered in Assessment Task 1 and the case study provided, examine the likelihood and consequences of identified risks, prioritise the risks and determine options for treatment of each risk. Using this information you are required to develop an action plan for implementing risk treatment, document the plan as required, and communicate the risk management plan to relevant parties. Procedure 1. Using the case study information provided in this assessment and in Assessment Task 1, develop a report for your manager (assessor) with the headings as described below: a. Likelihood – For each risk, assess the likelihood of the risk occurring. b. Consequence – For each risk, assess the consequence of the risk...
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...SCATTERGOOD V/S DAPHNE SCENARIO 1 : Scattergood is a HR of a company .Scattergood is anxious about involving subordinates in decision making of company , fearing a loss of authority and support. Scattergood thinks that because his organisation is constantly under pressure with tight deadlines to meet, he doesn’t have time to let employees join in the decision making process. Scattergood ‘s arguments : 1. He believes that participation would not work in his organisation 2. Scattergood is afraid of losing his authority if he gives his employees a chance to share in the decisions made in his organisation. 3. He believes if he disagreed with their decision he would have to overrule them and his authority and support would be undermined. 4. There is not enough time to let his employees participate in any decision-making. SCENARIO 2 : Daphne is another HR who has same authorities as scattergood & she argues back to scattergood Daphnes’ Arguments 1. If you allow your employees a voice in the decisions that affect them, they are more likely to support the final choice. 2. I feel that the decisions I am making are better since I have included my subordinates in the process. They are often closer to the problem than I am and, as a result, they can raise questions that I have not considered. 3. I have as much authority as I ever had and perhaps even more. In terms of my ability to get things done, I would say it has definitely increased...
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...Japan Julian Diaz III and Alan J. Ziobrowski Georgia State University Nico B. Rottke European Business School Using data from three countries that differ economically, culturally, and geographically, this study examines the role of Prospect Theory’s reflection effect, a psychological factor, in combination with Uncertainty Avoidance (UA), a cultural factor, on the choice of mortgage products. Experiments were conducted using business professionals in the United States, Germany, and Japan. The results suggest that risk-averse people tend to become more risk seeking, leaning more toward adjustable-rate mortgages (ARMs) when choosing a mortgage type, and that this psychological effect may underlie the mortgage choices of people who tend to choose ARMs, even across countries with different cultures. Keywords: Adjustable-rate mortgage, Fixed-rate mortgage, Prospect theory, Uncertainty avoidance, Experiment INTRODUCTION In terms of household risk management, the choice of a residential mortgage is one of the most significant decisions to make. At the end of second-quarter 2005, the value of outstanding U.S. residential mortgages was $8 trillion, 65% of the 2005 GDP (Federal Reserve Board of Governors [2005] In Germany, the residential mortgage debt ratio as a percentage of GDP was 51% at the end of 2006 (European Mortgage Federation). In Japan, the value of outstanding residential mortgages was 190 trillion Yen in 2005, which was 36% of the GDP (The Government Housing...
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...INF 370 – Information Security – Week #4-1 attendance check 1. Read the article “Privacy and Security / Emotion and Security” by Rose McDermott published in Communications of ACM, February 2012: http://dotlrn.aubg.bg/dotlrn/classes/departmentofcomputerscience/sINF370/INF370S12/file-storage/view/Handouts/Privacy_and_Security_-_Emotion_and_Security-Communications_of_ACM-February2012.pdf Make a short resume (about 200 words) of the publication. Responses to presumed threats or attacks are usually emotionally based. People tend to misunderstand or shift their attention to risks that are not very high while forgetting about the not-so-obvious threats. However, these threads are in most cases far more dangerous than the obvious and easy to predict dangers. According to Prospect Theory models individuals tend to weight probability not in the linear fashion advocated by standard normative models of probability theory, but rather the subjective functions that overvalue certain low-probability events. Fear and anger make people anxious and nervous, cause them to make worse decisions and make mistakes. 2. Using AUBG Web find what information security policy, standards, practices and procedures exist. What is the most important for a policy to be effective? http://www.aubg.bg/RapidASPEditor/MyUploadDocs/Information_Security_Guide.pdf For a policy to be effective it needs to be observed and applied. No matter how great a policy is if people do not comply...
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...life as opposed to a part-time movement. Finally the effectiveness of the team is measured by the group’s collective outcomes. Further, weighing the pro’s and cons to involvement of groups in decision making process can be cost effective. Research confirms that groups outperform the average individual by a long run. Therefore, our text mentions five important issues to consider when utilizing groups to making team building decisions. Groups are less effective than any one individual. The concept “two head are better than one” rings very clear in an environment setting. A group who presents the elements of over-confidence can foster “groupthink”. Our text defines some symptoms of groupthink which includes invulnerability where optimism and risk taking is embedded, rationalization- Eventually leadership roles take into account the situation and the members must agree upon something regardless of what others want, illusion of unanimity- silence is interpreted as agreement. These are the individuals who are unsure about a subject and decides...
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...There are many factors such as attitude, perceptions to influence people’s mind while making a decision to go on a holiday. Tourists’ decision-making relates to their behaviours. In this way, in order to share as much market as possible, it is worth to analyzing people’s behaviours. This assay will be evaluated in three sectors namely; psychological, personal, and social. (Marketing-consumer behaviour) First of all, within psychological field, motivation is being considered the most important one. There are dissimilar factors behind complex motivation. To be simplified, it is much understandable to analyze motives by Maslow’s(1970) Hierarchy which in order are physiological, security, social, esteem and the last, self actualisation needs. As soon as people achieve amount of level, they move on to the next stage gradually. For instance, in first stage human have physical needs such as hunger or thirsty; when they achieve the fulfilment, they move on seeking for higher order needs like security. (Cooper, Fletcher, Fyall, Gilbert & Wanhill, 2008) Attitude is another vital key of tourist decision making. Attitude is composed by cognitive, affective and conative. Cognitive, in other word, is called the belief or knowledge which based on previous experiences, individuals’ own opinion to the place or getting the information from other people; the affective describes the feelings and emotions about the destination and assess the experience basing on emotions; the...
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