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Qualitative Inquiry Of Information Technology

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Question:

Discuss about the Qualitative Inquiry of Information Technology.
 
 

Answer:

Introduction:

MacVille Pty Limited is a business enterprise dealing with provision of café services in Brisbane. The business has the objective of expanding itself by overtaking the Hurley’s café which is family business located in Brisbane as well. MacVille business has specified its mission, vision and values which are to be achieved with the specified strategic instructions and management system. In addition to that, the business has implemented a risk management policy that is run by a team of directors, management and employees who ensure that the policies and procedure required to complete the process are adhered to the letter. Additionally, all the members of the management team are allocated specific roles which they have to play to ensure the success of the process. However, before undertaking the risk management process, they have to come up with a plan or framework that is going to guide them on the process. The framework mostly consists of elements like the policies and procedures, frequencies of reporting, business planning and budgeting schedule, risk management review and the external audit (Baxter et al, 2013). All of these steps help the management team to come up with the best business risk management plan which they later have to report to the business’s overall Board of director’s meetings. However, before that the team in charge of the risk management assessment report should ensure that the directors have always been updated on the progress of the risk assessment process (Bromiley et al, 2016). This is possible only when the risk management directors take the responsibility of briefing the business’s board of directors periodically; say monthly. When it comes to the audit report, it is derived by the external auditors chosen for that purpose. This report is the last report to be given to the board of directors but after the risk management team has viewed it and affirmed it.

Identification

Risk Treatment

Event

Action

Plan

Risk owner

Time to resolve

Banking Risk

Avoid

Implement a rule to pay the cashier only after a meal

Implement the rule of always banking the money after every business day

Construct a safe to store the money in case it is left.

Financial controller

30th Dec 2014

Manager’s travel risk

Reduce

Deice safe travel methods

Reduce travelling trips taken

Manager

30th Dec 2014

By-law compliance risk

Avoid

Implement formal and frequent legal compliance monitoring; e.g. identifying the compliance requirements, review of the requirements every month, device a compliance requirement control instrument to manage them.

Practitioner; attorney general

30th Dec 2014

Loss of brand recognition risk

Avoid

Ensure cleanness of the surrounding and high brand quality

Implement strict rules and regulations to govern the staff while working

manager

30th Dec 2014

Lack of security

Avoid

Ensuring that there are watchmen and to maintain security around the café.

Installation of security cameras and lights to enhance the security levels

Security team, the county council and manager

30th Dec 2014

 

 

                               SEVERITY

 

 

NEGLIGIBLE

MARGINAL

CRITICAL

CATASTROPHIC

                                      PROBABILITY

LOW

Low

Manager’s travel risks

Medium

Loss of brand recognition risks

Medium

Loss of brand recognition risks

High

Legal risks

MEDIUM

Low

Manager’s travel risks

Medium

Loss of brand recognition risks

High

Legal risks

Extreme

Financial risks

HIGH

Medium

Loss of brand recognition risks

High

Legal risks

High

Legal risks

Extreme

Financial risks

Risk in priority order from the risk register

Possible risk treatment options

Preferred options

Benefit analysis

Person responsible

Banking risk

Implement daily banking policies

Transfer of banking accounts to the nearest banks

Avoid

Financial controller

Manager’s travel risk

Reduce the travelling trips

Conduct meeting early and commence early

Reduce

CEO

By-law compliance risk

Have functional and legal issues handled before business commences

Higher a legal councilor to guide the legal operations

Avoid

Goldsmith Partners

Loss of brand recognition risk

Improve the quality of the product

Use better inputs to prepare the beverage

Increase the level of cleanness for the staff

Reduce

Store manager

 

The risk management analysis of MacVille business is certainly very effective and according to the standard. This mean that the probability of it achieving the business’s objectives and goals is very high. The key elements of the standardization is that the framework should be able to touch on every department that is likely to experience risks in future or currently experiencing risks and challenges in its operations (Olson et al, 2015). As an assistant manager I am one of the team members of the risk management team; specifically I am in charge of the whole group. This gives me the authority and power to direct, organize and lead the other team members towards making the process a success (Soltanizadeh et al, 2016). The general goals for the assessment process is to identify, find a suitable solution and implement the solution to see whether the risk will be overcome. Additionally, the purpose is also to identify the possible future risks that may affect the specific departments, calculate the effects that may arise and then come up with a solution as well.

Stakeholder

Internal/External

Role in process

Stake in process

Directors

Internal

Come up with policies

Stakeholder

Employees

Internal

Carry out the process

Workers

Landlord

External

Give the council by laws

Advisor

Store Managers

Internal

Come up with policies

Stakeholder

Senior Managers

Internal

Manage the process

Stakeholder

CEO

Internal

Offer financial and technical support

Stakeholder

Financial Auditors

External

Analyze the financial status of the business

Employees

Pest Analysis

POLITICAL

Toowoomba county council policies and laws

 

ENVIRONMENTAL

Different market place

Change of consumers

Climate change; weather conditions

SOCIOLOGICAL

Customer changes

Changes of customer beliefs, culture and norms which may affect demand

TECHNOLOGICAL

Different technology use for production which may be caused by change of product characteristics or features and customer preferences

Swot Analysis

STRENGTHS

Committed CEO

Effective and efficient management team

Adequate finances to fund the expansion

WEAKNESSES

Has little information about its new market demand and status

Inadequate information about the possible product consumers especially their cultural differences

OPPORTUNITIES

Availability of a new market

Chance to grow and develop, i.e. expansion

THREATS

Possibility of new similar businesses

Existence of similar products in the market


The risk management process is due to commence very soon just as stated in the date on the report provided. Therefore, I hereby ask for your input support whether in terms of ideas and opinions, financial, technical support i.e. expertise and experience and most importantly your full commitment and determination. To help you with the decision, the following are some of the risks I have already identified to be facing the business: financial, marketing, product quality, fraud and theft, conflict of interest, accountability, capital investment among others. Your support will be highly appreciated.
 

Referencse

Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), 265-276.

Galliers, R. D., & Leidner, D. E. (2014). Strategic information management: challenges and strategies in managing information systems. Routledge.

Olson, D. L., & Wu, D. D. (2015). Enterprise risk management (Vol. 3). World Scientific Publishing Co Inc.

Baxter, R., Bedard, J. C., Hoitash, R., & Yezegel, A. (2013). Enterprise risk management program quality: Determinants, value relevance, and the financial crisis. Contemporary Accounting Research, 30(4), 1264-1295.

Dionne, G. (2013). Risk management: History, definition, and critique. Risk Management and Insurance Review, 16(2), 147-166.

MacLeod, M. A. (2016). The role of risk management in business continuity: A generic qualitative inquiry of information technology managers (Doctoral dissertation, Capella University).

Brustbauer, J. (2016). Enterprise risk management in SMEs: Towards a structural model. International Small Business Journal, 34(1), 70-85.

Soltanizadeh, S., Soltanizadeh, S., Abdul Rasid, S. Z., Abdul Rasid, S. Z., Mottaghi Golshan, N., Mottaghi Golshan, N., ... & Wan Ismail, W. K. (2016). Business strategy, enterprise risk management and organizational performance. Management Research Review, 39(9), 1016-1033.

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