Represent workplaces in which employees are socially and environmentallyresponsible • Technologically literate: users of online social media • Working in businesses within 500 metres of ACA Travel Agency. Groups (Organisations and business travel). According to market research undertaken by Action Marketing and ACA Travel Agency, the estimated total potential size of this market is 650 businesses. The number of businesses targeted by ACA Travel Agency is likely to remain steady. The profile of a customer within this segment is: • Aged between 35 and 60 • Regular corporate business traveller (Domestic and International) • Clerical or professional: may be represented by managers holding formal business • meetings, training or special events out of the office Assessment Task BSBRSK501 Manage Risk Page 11 of 71
• Highly sensitive to service quality: eager to impress colleagues and ensure that finance is monitored correctly • Moderately price-sensitive • Income over $60000 • Represent workplaces in which employees are socially and environmentallyresponsible • Technologically literate: users of online social media • Working in businesses within 500 metres of ACA Travel Agency. Explains and demonstrates the ‘Scope of Risk Management’ required for the Organization This framework encompasses a number of elements that together facilitate an effective and efficient operation, enabling ACA Travel Agency to respond to a variety of operational, financial, commercial and strategic risks. These elements include: ● Policies and procedures: A series of policies underpin the internal control process. ● Reporting: Decisions to rectify problems are made at regular meetings of the partners and store management. ● Business planning and budgeting: The business planning and budgeting process is used to set objectives, agree on action plans and allocate resources. Progress towards meeting business plan objectives is monitored regularly by the partners. Contingency planning is undertaken as required ● Risk management review: The partners are required to report monthly ● External audit: The final audit of financial statements is controlled by an external chartered accountant who provides feedback to the partners. Includes a comprehensive ‘SWOT’ and ‘PEST’ analysis of the organization or small business Strengths Weaknesses Excellent staff, highly skilled at selling local domestic and overseas tours. Great location. High customer loyalty. Product offerings that exceed competitors’ offerings in quality and service A limited marketing budget to develop brand awareness. Limited space and capacity to serve more customers. Opportunities Threats Strong market potential. A significant percentage of the target Competition from local Agencies, online businesses and other travel service providers.
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- Spring '20