A risk review report, including a completed table of stakeholders Email communication to stakeholders Summary notes from your meeting with the CEO. 4. After you have developed your report, write an email that is intended for relevant stakeholders (identified in Step 2). Your email should clearly ask stakeholders for input, include a list of risks you have identified and invite them to assist in identifying any additional risks.
Dear all stakeholders, I am asking my stakeholders for their feedback regarding the current status of risk management and what else the team needs to consider when addressing the risks associated with Mac Ville Café opening a store in QLD. Script to all stakeholders: 1. Greet all 2. State the purpose of the communication 3.Explain current risk practices 4. Ask for input and feedback to modify or alter current policies and procedures 5. Thank them Human resources management risk: iv. No written policy and procedures manual and limited staff training – could lead to errors and inappropriate actions. v. Authorisation system not clearly defined – could lead to fraud. vi. Lack of sales promotion techniques – impacts of the stores financial viability. Financial operations risk: iv. No separation of duties – could lead to fraud. v. The banking was not done every day and was kept on the premises overnight without a safe – assets not protected could lead to thief. vi. 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.
WHS risk: v. Manager two hour drive to and from weekly manager’s meeting – could lead to physical injury. vi. Unstable and broken chairs – customers injured; compliance breach and customer suing, reputation loss. vii. Carpet that was worn through was simply taped over with gaffer tape – compliance breach and customer suing, reputation loss. viii. 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. Supply chain risk: iii. Impractical to deliver fresh pastry from the company’s central bakery plant in timely manner – brand loss, quality service loss. iv. Supply of company branded supplies – brand loss. Local governance and compliance risk: iv. Water use – company could be fined – reputation/brand loss. v. Incomplete employment records – unions could sue – government penalties – reputation/brand loss, $50,000 fine. vi. Confidentially of records not guaranteed – privacy law breach. Audience Stakeholders When Communication method Person responsible The board Time 09:00 am / Date 28/11/201 6 Hosted in the boardroom Email invite Give them a report Do a presentation Risk manager
Audience Stakeholders When Communication method Person responsible CEO Time 10:00 am / Date 29/11/201 6 Hosted in the boardroom Email invite Give them a report Do a presentation Risk manager Senior management team Time 11:00 am / Date 30/11/201 6 Team meeting in the boardroom Email invite Give them a report Do a presentation Risk manager Finance, Audit and Risk Management (FARM) Committee Time 10:30 am / Date 01/12/201 6 Telephone call Information letter email Risk manager Council and Landlord
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- Summer '16
- Business, Management