Tentative business name: SMK Agroprocessors Business Type: Processimg of fruits (canned, fruit bowls, dried fruits) Market: Health conscious subset of the market which is steadily growing. Reduction of NCDs Location of Business: Portsmouth, Dominica With the information given, create a detailed relevant risk assessment
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Tentative business name: SMK Agroprocessors
Business Type: Processimg of fruits (canned, fruit bowls, dried fruits)
Market: Health conscious subset of the market which is steadily growing. Reduction of NCDs
Location of Business: Portsmouth, Dominica
With the information given, create a detailed relevant risk assessment
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Tentative business name: SMK Agroprocessors Business Type: Processimg of fruits (canned, fruit bowls, dried fruits) Market: Health conscious subset of the market which is steadily growing. Reduction of NCDs Location of Business: Portsmouth, Dominica with the information given, create an executive summary
- COSO ERM 2017 risk management system for assessing an organization's potential and actual dangers and rewardsCase Study: Petrol price regulation in South Africa In South Africa, government has intervened in and/or regulated markets involved in the manufacture, distribution, and retailing of liquid fuels in various ways since the 1930s without providing formal reasons for doing so. By 1998, the White Paper on Energy Policy referred to 'a labyrinthine set of regulatory controls' (RSA 1998: 5). While the instruments used have changed over time, the evidence suggests that the primary reason for market interventions has been to support investors in various parts of the value chain. This has been achieved by limiting competition. To a lesser extent, there has been a wish to protect motorists from excessive pricing. In addition, over time social policy objectives have become entangled in petrol price regulation. These relate to the promotion of small businesses and job creation. More recently, Black economic empowerment has been added to the list. This mixture of reasons has made it difficult for…COSO ERM 2017 risk management system for evaluating an organization's prospective and real threats and opportunities.
- Please name and briefly describe the five methods used to mitigate risk.Scenario 3: A problem with paper You are a franchisee for Fatto’s Burger Palace in a small college town (“where friends meet to eat”). The specialties of the house are the “Giant Burger Supreme” and the “Hound Doggie,” both of which contain 26% or less fat. Business is good, especially when the college dietician decides to put soy stew on the menu in the dining halls. Recently, agitation by environmental extremists has forced the restaurant to abandon the convenient clam shell boxes of polystyrene in favor of paper boxes. The latter are a little more expensive, but take up less space. They are somewhat difficult and time-consuming to fold. Customers are now complaining about the oil stains on the inside of the burger box. Water tends to seep through and make the package limp in some cases. This has required putting more napkins in each order. In addition, the blazing red Fatto’s symbol on the top of the boxes now has fuzzy edges, whereas it was sharp and crisp on the clam shell boxes.…Business case, Sustainable Products E-commerce Store(package free shop): As more people become environmentally conscious, there is a growing demand for sustainable products(sustainable pet products, clean beauty products, green technology, zero waste products, sustainable clothings and eco friendly home goods). An e-commerce store that specializes in eco-friendly products can be a profitable business idea. 1) Prepare at least 3 risks 2) Prepare Risk Response and mitigation plan 3)Dependencies: Define at least 3 dependency between tasks
- Question 3: Discuss risk management methodologies that facilitate in the risk management process. Shed light on how and when to implement each methodology to gain specific results.Q)Examples of risk management on business.Case study below: The Foschini Group (TFG) says it has entered into an agreement to acquire the entire issued sharecapital of Tapestry Home Brands for R2.35 billion. TFG said it is acquiring the sale shares fromWestbrooke Investments Proprietary Limited, funds managed by Actis, as well as the current andprevious management of Tapestry whose brands include popular made-to-order furniture retailer,Coricraft; South Africa’s renowned branded bedding retailer Dial-a-bed; home textile retailer,Volpes; and value bedding retailer, The Bed Store.Established in 2005, Tapestry’s own, locally manufactured product accounts for 47% of net sales,employing a total of approximately 2,500 people, with manufacturing facilities located in CapeTown, Johannesburg, and Gqeberha. Tapestry operates 175 stores across South Africa, Namibia andBotswana. The three business segments, namely living, linen and bedding, are run on adecentralised basis by a strong management team, it said.“The transaction will provide…