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Macville Essay

1106 words - 5 pages

Introduction
Purpose
This report is generate in compliance with the previous report of 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 ...view middle of the document...

It is raise the concern in term of safeties when driving in poor light condition, especially during evening and late at night. Risk presence are consider to be extreme in term of the lose of life or any injury are consider by MacVille Pty Ltd as a catastrophic consequence. This raise the necessity to mitigate the risks involved. Risk presence are mainly the danger from traveling between headquarter in Brisbane and Toowoomba branch for weekly meeting which are typically finish late in the evening or night.
The propose change are as followed;
* Installation of teleconferencing system
* Finish management meeting no later than 3:00 pm
* Manager whose attend the regional office can be excusal from meeting by 3:00 pm
* Change the meeting time to morning session
By-law compliance risk
This risk arise due to the recent reformation of local council legislation in term of exceed water usage. The risk presences moderate threats to the continuity of the business due to the fee imposed by local council if the water usage had been exceed. It is also important for MacVille Pty Ltd to comply with the legislation set out by local council since it is their responsibility as a corporate citizen. Risks arise form failing to comply with legislations are;

* Large amount of fine impose by council
* Brand and reputation damage
* Uncontrollable cost of operation
* Inefficient in resource allocation
Propose change are as followed;
* Installing native plants to reduce water consumption and usages
* Install water tank to take advantage of rain water and use less water from council
* Install dual flush system in restroom to increase cost saving
* Chang and reinforce new water usage rule and regulation as well as monitoring the water usage
* Replace machine to be more water efficient
Banking risk
This risk arise form the lack of controlling and monitoring procedure of the store financial records and their method of keeping cash with in the store after hour. The lack of rules and regulations as well as procedures in term of depositing cash daily, the record keeping of sale and cash paid out, and detection and prevention control in term of fraudulence. In which risk presences are;

* Chance of losing more assets in case of robbery and it is also consider to be an motivate luring robber to attempt to break in.
* Fraudulence activities in which employees can steal money when the café dose not maintains appropriate financial record keeping.
* Impractical financial system in place, due to the previously family own café with the lack of appropriate and proper record keeping of any financial transactions both...

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