Risk management Essay Example | Topics and Well Written Essays - 1000 words - 3

Risk management - Essay ExampleThe fire disaster has occurred in the tower once and destroyed significant part of the floor of the tower under construction then. Therefore, there is no deduction that it would not occur again anywhere in the tower. With increasing activities of terrorism it is important to be on the lookout of explosions cause by them.There is no cognise political risk at the moment known to V-bite eating house. Human risks that may face the restaurant are numerous including but not limited to unwellness and absenteeism of the employees as well as embezzlement and pilferaging perpetuated by the employees.According to Malcom, Ward and Smith (36), the probability that the mart will not be large enough to sufficiently generate enough revenues as defined in the business plan is a serious market risk. This occurs when there are few customers in the locality or when there is a fierce competition among the market players. The market risks facing V-bite restaurant incl ude crop risks, market existence risk, sale volume risk and pricing risks. A product risk refers to the small size and poor quality of the menu available to customers. Pricing risks are manifest when the prices of delicacies in the menu are spunkyer than what other similar restaurant offer. The above risks may make with it reputation damage, interruption of business operations, customer loss, reduced productivity as well as high damaged reduction and control cost.The cells shaded red is extremely high risk zone. Market risks have been determine as extremely high risk facing the enterprise. V-bite restaurant would not be the only restaurant that offers purely vegetarian delicacies. Instead, there are other nine restaurants offering identical or similar menu. The restaurants are Spice Kraft JLT, 77 Veggie Boutique, Sukh Sagar Swift, Sukh Sagar at the Beach, Saravanaa Bhojan Shala, Yogurberry, SMS Restaurant, Kamat and Kamat Shireen. Most of the named restaurants have been in oper ation for long-life time.