NatureCare Products

Risk identification report

Introduction
This report was created to understand what is at risk within the context of the NatureCare Products
strategic objectives to increase market share by expanding the business and opening new retail outlets in
central Sydney, Brisbane, and Melbourne within the next six months

Questions considered
The following questions were considered in identifying human resources risks associated with the
expansion.

 Does the company have qualified employees?

 How is the communication within employees?
 How is the engagement within the new employees?
 Are the resources available?
 Does everyone in the company have excellent product knowledge?

Risks identified
The following risks have been identified:

 Lack of effective communication

 Poor engagement within employees
 Increase staff turnover
 Lack of human resources with relevant skills
 Lack of product knowledge
 Unavailability of resources

General business risks

In completing this process, a number of other general business risks have been identified which may
include:

 Location risk to open three stores in different cities at the same time within a short time
 Strategic risk in selling point, which is health food shops
 Operational risk with limited range of product

Potential treatment measures for discussion, including the strengths and weaknesses of each

1.

Risk treatment ideas for discussion:

 Regular discussion and meeting to build communication

  Manage additional fund and investors
 Create financial analysis for each store
 Open one store first, keep track on store stabilization, then open the second store
 Make an analysis on potential shops where the brand of NatureCare product can be
introduced
 Create a new line of products

Strengths and weaknesses of risk treatments above:

Strengths

 Increase communication between employees effectively

 Get bigger picture on the situation and condition for the expansion plan
 Increase a chance of introducing the brand to the market

Weaknesses

 The program might need a big amount of budget

 The program might take longer time to be implemented

2. Gaps between current talent capabilities and business goals

Risk treatment ideas for discussion:

 Support of management regarding motivation and training

 Gap identification and solutions
 Managing experts professionals to train individual employees
 Conduct training and workshops

Strengths and weaknesses of risk treatments above:

Strengths

 Increase communication between employees effectively

 Improve employee's knowledge and skills
 Increase employee's engagement

Weaknesses

 Lack of understanding about what employees really need

 The treatment will need more budget and time to be implemented