Manage Risk

In: Business and Management

Submitted By binodandsapkota
Words 2155
Pages 9
Activity 1

Consumer Profile Template
1. Executive Summary
Keep in mind that not everyone will read every page of your marketing plan. Your executive summary should highlight the most important parts. It’s an overview of your marketing plan.
As you go through the process of writing your plan you will refine your ideas and develop new strategies. By writing the executive summary at the very last you will be able to provide a holistic overview of your marketing plan.
It is recommended that you include the following points in your executive summary: * Brief description of products or services * Define target market * Competitive advantage
You need to tailor your offer so that your target customers believe that it is superior to what is offered by your competition - this is your competitive advantage.
Competitive advantage can come from any element of your marketing mix - creating a superior product, more attractive designs, better service, more effective distribution or better advertising.
Competitive advantage comes down to understanding what your customer values, delivering it and doing it better than your competitor. * Positioning statement
Positioning is the way your product or service is defined by consumers. For example a consumer would describe a Ferrari as a prestige, high performance sports car. This perception by the consumer is due to a strategy developed by Ferrari to position itself in the prestige segment of the car market with a competitive advantage based on high performance and exclusivity.
After you have worked on the rest of your marketing strategy you will know where your business is positioned in your market and how you are different to your competitors. * Anticipated sales, profits and market share

2. Market and Situation Analysis

* Economic environment
Here you should look at the factors that affect your consumers’…...

Similar Documents

Manage Risk

...BSBRSK501B Manage Risk Assessment 1 1. Scope The scope of new cafe in Toowoomba is to consider and risks that could impact on human resources management, financial operations, OHS, our supply chain and the local governance and overall compliance issues. 2. Goals * Set up policy and procedure to guide staff role. * Install water tank and training staff to reduce water waste. * Renovate cafe * 3. Stakeholders Stakeholder | Internal/External | Role in process | Issues and Concerns | Employees | Internal | Standard of services, Education and Knowledge about coffee. | They are on three months’ probation. | Supervisors | Internal | | | Chef | Internal | Qualified chef and Developed an innovative and popular range of rice wraps | None of the other cafes in the area offered these. | | Internal | | | Landlord | External | | | Suppliers | External | | | Customers | External | Retirees people | Economic issues cannot spend too much.Transportation issues easy to access to shop. | | External | | | 4. PEST Analysis Political Environmental regulations: The current by-law has fines of up to $50,000 for excessive water breaches. The store currently uses 41,000lt per week. The water have been wasted under inappropriate 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. Economic ...

Words: 281 - Pages: 2

Manage Risk

...systematic risk management in an organization. An organization should develop a risk man agement policy, plan and support arrangements. This will enable risk management to be implemented effectively throughout the organization. The plan should address strategies for embedding risk management in the organization’s systems, processes and practices. While the detailed approach described here is designed for larger organizations, all the aspects are relevant to some degree to smaller entities. The same principles apply in the public, not-for-profit and private sectors. Why is it necessary to have a working knowledge of the legislation involved in business? If you are thinking of opening up a business you will need to have a good working knowledge of the legislation involved with your business. This is important because it will ensure that you are abiding and complying with the law rather than breaking it and facing possibly harsh consequences. Duty of carer The legal concept of duty of care presume that individual and organization have legal obligation To act toward othe and public in a prudent and cautious manners to avoid the risk of reasonably injuiries to other What is the risk managememt ? why must risk management procedures be followed ? Answer: Risk management is the process of figuring out the risks in a certain situation, and hence reducing the possibility of its occurrence. In some cases, the amount of risk that is......

Words: 1186 - Pages: 5

Manage Risk

...MANAGE RISK 1. What is the purpose of the standard known as AS/NZS 4360: 2004 Risk? This Standard provides a generic guide for managing risk. This Standard may be applied to a very wide range of activities, decisions or operations of any public, private or community enterprise, group or individual. While the Standard has very broad applicability, risk management processes are commonly applied by organizations or groups and so, for convenience, the term ‘organization’ has been used throughout this Standard. This Standard specifies the elements of the risk management process, but it is not the purpose of this Standard to enforce uniformity of risk management systems. It is generic and independent of any specific industry or economic sector. The design and implementation of the risk management system will be influenced by the varying needs of an organization, its particular objectives, its products and services, and the processes and specific practices employed. This Standard should be applied at all stages in the life of an activity, function, project, product or asset. The maximum benefit is usually obtained by applying the risk management process from the beginning. Often a number of discrete studies are carried out at different times, and from strategic and operational perspectives. 2. Duty of care:  is a legal obligation which is imposed on an individual requiring that they adhere to a standard  of reasonable care while performing any acts that could foreseeably...

Words: 1736 - Pages: 7

Bsbrsk501B Manage Risk

...Risk review Submission details Candidate’s name | | Phone no. | | Assessor’s name | | 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 For this task you are required to determine the risk context associated with establishing a new business outlet, within the existing business structure. They will be required to review internal and external environment factors and liaise with all stakeholders to generate a list of risks. Assessment description For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are to identify risks and present this to relevant parties for feedback. Procedure For the provided case study, you will assume the role of the risk manager/assessor. 1. Review the provided MacVille Risk Management Policy and Risk Management Strategy and complete a written report for your manager (your assessor) that addresses the following steps. a. Scope – Identify the scope of risk management required in your identified role. ...

Words: 4499 - Pages: 18

Manage Risk

...manage risk bsbs201b fvgfgtitle of “Excellent Intern” in the "Road to Success • Winning in Sevenstar• Elite Training Camp ". Therefore, I am honored to strongly recommend this excellent young women to your company To begin with,。。。 is exceptionally diligent and hard working. During this summer internship ,。。。was the first to arrive at the company and the last to leave the working place nearly every day and she worked many extra hours over the summer as well . Second,she is friendly and considerate .She is very good at working with other people and enthusiastic about helping the colleagues so that she is favorable among the interns .Meanwhile, the majority of senior officer is satisfied with her virtues. her ideas and opinions have been a great help to these interns, many of whom have taken time to share their comments with me regarding her pleasant and encouraging attitude. Third,she is a earnest and competent staff with keen insight and judgment.Frankly speaking, she has successfully demonstrated leadership ability by sales and promotion. Because of her wide ranges of communicating and coordinating, the whole team's performance was soaring and at last she accomplished 120% of the sales target! Thus she was one of the most capable and potential interns in our company by common consent and was considered as "the splendid steed". In short, it is for these reasons that I offer high recommendations for 。。。 and sincerely hope that you can accept her application favorably...

Words: 312 - Pages: 2

Manage Risk Assesment

...Manage Meeting Whether as an individual, or as part of a group, real Progress depends on entering whole-heartedly into the Process and being motivated to make you a more Deeply satisfied human being. Introduction: If learning comes through experience, it follows that the more one participates in guided experiences, the more one learns. Therefore venturing into uncharted waters - and experiencing the failures that may occur - is an important part of organizational learning The different types of meetings is Formal meeting • • • • Informal meetings Semi-formal meetings Formal meetings – these are highly structured, and are governed by Corporations Law, the Constitution of a corporation, club or association, and the organization’s policies and procedures. Examples of formal meetings include board meetings and annual general meetings. Informal meetings – these are usually less structured than formal meetings, and are generally held to discuss ideas, share information and promote discussion. Examples include team meetings, project meetings, sales meetings and managerial meetings. Semi-formal meetings – combine elements of both informal and formal meetings. The meeting structure will be determined by the purpose of the meeting and the organizational requirements. Table 1.1 below sets out the main characteristics of formal and informal meetings. Formal meetings Informal meetings Held on predetermined dates and at predetermined locations. Can be impromptu,......

Words: 4986 - Pages: 20

Manage Risk

...Marcus Aurelius, Library of Classics, London. Book with more than one edition (print) Some characterise the discipline of finance (Frino, Hill and Chen 2009) as ... Author(s) Year, Title of book, number of edition, Publisher, Place of Publication. Example: Frino, A., Hill, A. and Chen, Z. 2009, Introduction to corporate th finance, 4 ed., Pearson Education Australia, Sydney. Editor(s) (ed./eds.)* Year, Title of book, Publisher, Place of Publication. *use ed. for one editor; eds. for multiple editors Examples: Patmore, G. (ed.) 2003, Laying the foundations of industrial justice: the presidents of the Industrial Relations Commission of NSW 1902-1998, The Federation Press, Sydney. Jones, S. and Hensher, D. (eds.) 2008, Advances in credit risk modelling and bankruptcy prediction, Cambridge University Press, Cambridge. Edited book (print) The foundations of industrial justice are examined by Patmore (2003) through ... Some critics deny the fact that … (Jones and Hensher 2008). Chapter in an edited book (print) One perspective on women and work is offered by Baird (2010) in her discussion of … Author(s) Year, ‘Title of chapter’ in Editor(s) (ed./eds.)*, Title of book, Publisher, Place of Publication, page numbers. *use ed. for one editor; eds. for multiple editors Example: Baird, M. 2010, ‘Women and work in Australia: a theoretical and historical overview’ in P. A. Murray, R. Kramar and P. McGraw (eds.), Women at work: research, policy and practice, Tilde......

Words: 11022 - Pages: 45

Manage Risk

...operational processes and to analyse and report on their energy consumption, the energy efficiency of production facilities and offices and their overall CO2 emission outcomes.The case for such systems has been understood in a theoretical sense for decades, largely from an environmental and social responsibility perspective but practical imperatives to act have been lacking.One positive effect of the Climate Change Plan will be to stimulate action, which will lead to spending on software and services associated with understanding and acting on carbon consumption and emission data.We expect that the Plan, assuming it proceeds to legislation, will lead to increased opportunities for companies that specialise in the software and systems needed to manage energy use efficiently and to report on compliance under the new carbon pricing arrangements.The Government's Plan is quite complicated, however, due to the need to appease so many different interest groups. While the broad principles are clear, the devil will lie in the detail of the pricing mechanisms and the assistance and transitional arrangements.While not technically a tax regime, the setup definitely has the feel of the complexity of tax policy, and this will be reflected in the amount of effort and cost that organisations and their advisers will need to expend trying to grapple with understanding the implications of the scheme and setting up processes and systems.A number of new government agencies will be created,......

Words: 668 - Pages: 3

Manage Risk

...ASSESSMENT BSBRSK501B MANAGE RISK Assessment tool 1 Assessment activity 1: Review organisational processes, procedures and requirements for undertaking risk management 1. Create your own definitions for the following terms: a) Risk: A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action. b) Risk management: The identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. c) Risk appetite: The amount a business is willing to place at risk in the pursuit of its objectives d) Risk capacity: The amount a business is capable of loosing before it endangers its own sustainability 2. Comment on the following saying in relation to the risk management policies and practices of an organisation: “ Organisations that fail to plan, plan to fail” If an organization does not have a risk plan is likely that any risk occurring with negative consequences occur organization. If the organization has a risk prevention plan is very likely that the risk does not occur and the organization and its workers could produce know how to deal with the negative consequences of that risk to minimize that consequences. Assessment activity 2: Determine scope for risk management process Case study Advantages: It will be holistic. Disadvantages: It will require extensive resources to conduct it......

Words: 6375 - Pages: 26

Manage Risk

...Monitoring report Submission details Candidate’s name | Jingjing, Qian | Student no. | 140437 | Assessor’s name | Deyaco | Task no. | Task 3 | Subject | Manage risk | Assessment date/s | | Time/s | | 1. Plan Manager’s travel risk – physical injuries/deaths – initially rated as extreme. Management meetings to finish 3:00pm. Install teleconferencing. Management training shift to morning half day sessions. By-law Compliance risk – reputation loss and fines by council – initially rated as high. Apply for time to ‘make good’. Policy and procedures to change work practices. Install water saving devices such as native plants, tank, dual flush toilet systems, and 5 stars (WELS) dishwasher. Banking risk – theft of cash left on premises – initially rated as medium. Insurance on ‘cash on premises’. Open an account with closest bank. Policy and procedure requirement to bank daily.   2. Implementation Manager’s travel risk – physical injury – initially rated as extreme. The weekly management meetings are finishing close to 3:00pm. The assistant management training has been shifted to the mornings allowing the manager to leave before 1:00PM. By-law Compliance risk – reputation/brand loss and fines – initially rated as high. An external audit was completed and presented to the board 6 months after settlement. The board and CEO included a new policy regarding compliance with the Toowoomba by-law on water conservation. The dual flush toilets are ordered and in stock. The 5 star......

Words: 334 - Pages: 2

Manage Risk

...``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......

Words: 2750 - Pages: 11

How to Manage Reputational Risk

...related to the firm value. Therefore reputation risk management becomes extremely important for every corporation, if you don’t do it well, it may damage your firm value. What is reputation risk? Many researches show that reputation is the perception from stakeholders that has positive relationship to the firm value. Reputation risk is the risk that some incidents cause negative impact and damaging the firms’ brand value. It can due to the problems of the company products, rumors spread out, or publicized problem. This loss of the companies can be immediately financial loss, losing further business, decreasing of client base or losing goodwill. What is special about reputation risk is it interrelated to other risks and if it is not properly managed, it may turn into a crisis that danger the existence of the firm. A lot of business failures were caused by poorly manages of reputation risk. How to identify and assess reputation risk Many risks can be quantifying the exposure, but it is not the case for reputation risk, as it is related to some intangible assets and value of the firm, it is difficult to quantify and therefore some subjective method should be use to identify and assess reputation risk. Surveys of stakeholders, comparison with peers, media analysis and focus group meetings all are useful methods to assess reputation risk. Once you identified and assessed some reputation risk issues, you can located it on the risk map according to the frequency and the......

Words: 1023 - Pages: 5

Manage Risk

...MANAGE RISK PROJECT 1 Introduction Company overview I am a human resource manager in PANCHIO SMOOTH FOOD LTD. Panchio Food is the leading manufacturer of chocolate in Australia. The story of Panchio chocolate began on a small town in the Western Australia, where humble shepherds perfected age-old chocolate-making techniques passed down from father to son. In Australia since 1969, Panchio has acquired an enviable reputation for traditional specialty style chocolate. Now Australia’s largest chocolate producer, Panchio still uses old family recipes to create their chocolate. Built on those strong foundations and with further moderniztion and development for our product range, Panchio Food is now positioned at the forefont of the speciality food and our product always neat and clean or safe from comtaminiation and this unit is tell us about the risk management of Panchio Food. So occupational health and safety and security are the responsibility of everyone on the workplace. We follow the OH&S at premises. Scope/range of risk management applied As we know that everyday we must work in a way that ensure our safety and that of our colleagues and customers. It is very important for our business because we can save life from incidents which occurred on the workplace we can reduce them and can do safework but if we fail to take due care, we may cause an accident or injury or death. So every company follow some safety policies and procedures for the......

Words: 3864 - Pages: 16

501b Manage Risk

...Task 1 Report on risks Student guidelines The Assessment Task is due on the date specified by your trainer/assessor. No variation to the assessment is permissible. You must read the assessment in full and understand what the assessment is asking of you, prior to completing the task.  The task must be answered in full, addressing all criteria as identified in the assessment and attaching any additional required evidence. All answers must be completed correctly to be deemed satisfactory. There is an opportunity for you to re-attempt this assessment if required, within the unit scheduled timetable.  All task requirements must be completed satisfactorily for you to be deemed to have satisfactorily completed this assessment. Note: Successful completion of this assessment does not imply automatic successful completion of the unit. ------------------------------------------------- Assessment objective For this task you are required to determine the risk context associated with establishing a new business outlet within the existing business structure. You will be required to review internal and external environment factors, obtain support for activities and liaise with relevant stakeholders to identify risks. For the MacVille Pty Ltd simulated business scenario provided, you are required to assume the role of Brisbane store Assistant Manager, Ash, who has just been promoted to be Manager of a new store. Ash has been tasked with conducting a risk management analysis...

Words: 5165 - Pages: 21

Manage Risk Case Study

...key talent across the organization. By having a work force plan in place, an Organisation is able to smooth through and detect any issues early on before they escalate into something larger Legislations At current the business is seen to be only employing or attracting a certain nature of employees, this could be construed as a discriminative act and in non-compliance with the fair work Act 2011 EEO – Under the Equal Opportunity Act an Organisation must be seen to give all candidates a fair and equal opportunity to gain employment or promotion. Risks Any Organisation that does not have the correct process in place to manage and monitor workforce planning risks a shortfall in staff with the correct skills and knowledge. It is also an effective tool that allows for a more productive and efficient work place that can prevent and detect early issues before the arise in turn cutting costs for the Organisation. The risks can then flow on increasing staff turnover potentially driving customers away in turn putting a financial burden on the business. Approaches that could be considered by the business are; Position Descriptions By creating and implementing position descriptions, the employee will have a full understanding of what is expected of them during their employment within the Organisation. It will also allow them the opportunity to move forward should they want to upskill and move further up in the business which would be a benefit to both the employee and...

Words: 1215 - Pages: 5