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Risk Management for Business
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Risk Management for Business
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Critical Success Factors

The event titled, risk identifier and risk management process is being organized by Mr. John Duarkan and will take place on the 25th of September, 2015.

The objective of the event is

•    To analyze the risk that is involved in the operation of the business
•    To analyze the risk factors concerning the competitors of the business

The context within which this plan has been developed is the plan has been developed in order to meet the requirement of the customers and to overcome the risk that is faced in the organization concerning the business activities that are ascertained in the business (Acharyya & Brady, 2014). As Coles Supermarket is dealing with the retail products, it needs to prepare the plan concerning the variety of products and need to manage the customer affair as well.
 
Background / Event Scope

As per the case, the event in the current context relates to the launch of new range of line products in the field of electronics by Coles Supermarket along with its existing business activities.

Detail Activities of the event:

The risk involved is concerning the launch of new line products in the sector of electronics apart from fruits and veggie, financial services and liquor land’s low. The Coles Supermarket app includes the electronics range starting from laptop, tablets and mobile phones (Crouhy, Galai & Mark, n.d.). There are several brands involved in relation to the launch of these products like Samsung, Apple iPhones, etc. Therefore, the risk is involved in regards to the launch of these new products in the market giving a cut throat competition to the various competitors in the market that already exist.

Environment: What is the location/layout?

The current marketing layout is carried out in the region of America after Australia (Gupta, 2014). The new strategy of business is adopted concerning launch of the new products in the market.

Activities requiring permits?

In order to launch the product in the international market, the trade license for carrying out the business in the international market is required. Furthermore, the activity for the marketing of the product is required by the company that shall aid to launch of the product in America (Komu, Sethi & Beijar, 2015). On the other hand, the auditing section of the company also requires permission from the government of America for showing its taxation and profit percentage.

Organizational Details

Organization coordinating and responsible for the event:

Name of individual responsible for organizing the event

John Duarkan, managing director of the company along with it has taken the responsibilities himself concerning the launch of the new range of products for its customers (Louth & Boden, 2014).

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