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    France Cedrick Garcia
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    F. Garcia Cedrick Creation is a customized cake and cupcake cafe. Their risk management plan identifies critical risks such as supply shortages of white sugar and competition. To mitigate sugar supply risks, the plan calls for stocking excess sugar and storing it properly. It also suggests using alternative sugars if white sugar cannot be obtained. To address competition risks, the plan recommends learning how to handle competitors and offering better quality products through improved promotion. Progress will be monitored and the business will evaluate increasing prices if risks materialize.

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    F. Garcia Cedrick Creation is a customized cake and cupcake cafe. Their risk management plan identifies critical risks such as supply shortages of white sugar and competition. To mitigate sugar supply risks, the plan calls for stocking excess sugar and storing it properly. It also suggests using alternative sugars if white sugar cannot be obtained. To address competition risks, the plan recommends learning how to handle competitors and offering better quality products through improved promotion. Progress will be monitored and the business will evaluate increasing prices if risks materialize.

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    © All Rights Reserved
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    5 views2 pages

    Risk Plan

    Uploaded by

    France Cedrick Garcia
    F. Garcia Cedrick Creation is a customized cake and cupcake cafe. Their risk management plan identifies critical risks such as supply shortages of white sugar and competition. To mitigate sugar supply risks, the plan calls for stocking excess sugar and storing it properly. It also suggests using alternative sugars if white sugar cannot be obtained. To address competition risks, the plan recommends learning how to handle competitors and offering better quality products through improved promotion. Progress will be monitored and the business will evaluate increasing prices if risks materialize.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    NAME/TYPE OF BUSINESS: RISK MANAGEMENT PLAN

    F. GARCIA Cedrick Creation Plan Action


    Customized cake and Cupcake
    (Cafe)

    Potential Risk/Hazard Assess Risk (use Action to be taken to reduce the risk (Control) Monitor Evaluate
    (Identify) matrix)
    Supply of White Sugar Critical High Risk Stock sugar as much as possible but make that The manager must Increase the cake and
    the sugar will be stored in appropriate room check the sugar cupcakes price. Cannot
    storage with the correct temperature. expiration date and find sugar to buy in the
    validity to avoid market
    contamination.

    Use other types of sugar like brown and wash


    Sugar.
    Competitors High Risk Learn How to Handle Competition in Business. Marketing officers The price of the cakes
    should consider the and cupcakes in the
    competitors are cheaper.
    competitors in the
    The competitors already
    market and offer better built a good name.
    quality products. They
    should come up with an
    idea of how they can
    improve their
    promotion.

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