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This report consists of the various and effective risks factors which could be harmful for the organization. A risk review report must consider the topics such as analysis of its competitors, market trends, tastes and preferences of the consumers, etc. Risk management report must consider the standards and the benchmarks set up for evaluating the risks for the organization so that the appropriate marketing strategy could be developed to deal with those strategies. According to the risk management standard i.e. ISO 31000:2009, there are a lot of principles on which the risks are evaluated. Market trends, market environment, and market strategies would be evaluated to extract the various risk factors involved in the business environment (Purdy, 2010).
Risk should be evaluated accordingly so that the board of directors could rely upon the various steps taken by the new manager of the store to avoid the bad impact of the risks factor on the business environment. This is the most crucial role of the new manager appointed in the MacVille store and this should be performed very effectively so that all the risk-avoiding factors could be analyzed accordingly (Berg, 2010).
All the risks factors should be evaluated properly before leaving them behind because ignoring any aspect of the business with respect to the risk analysis. In terms of the setup, a new retail store in the new market is like a big opportunity and this opportunity could result in a positive manner or in the negative manner (Bolman & Deal, 2014).
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