THAI NGUYEN UNIVERSITY

INTERNATIONAL SCHOOL

FINAL REPORT
THE CASE STUDY FOR RISK MANAGEMENT OF TESCO
PLC. IN 2020

This submited to:

Instructor : MSc.Tran Quoc Huy

Course : Risk Management
Class : RMA_02
Members : 1. Dao Minh Ngoc_ Leader (27/01/2001)
2. Nguyen Thi Anh (21/02/2001)
3. Duong Vu Kieu Anh (20/04/2001)
4. Ngo Hoai Ngoc (21/08/2001)
5. Nguyen Thi Kim (12/08/2001)

August 14th , 2023.

 TABLE OF CONTENT

ABSTRACT

1. Introduction
2. Analyze the diagram of Risk management report
2.1. Risk management structure of Tesco and the “Lines of defense”.
2.2. The “Top-down” and “Bottom-up” approaches in risk management of
Tesco.
2.3. Risk Appetite, Health and Safety, Covid-19 to Tesco.
2.4. The risk to Brand, Reputation and Trust.
2.5. The impact of Brexit to Tesco.
3. Practical scenario of risk and the reaction – the risk scenario Situation
3.1. Describe the possible likelihood and impact of a 20-point risk.
3.2. Scoring the 2 risk scenarios.
3.3. Risk appetite and estimate the risk fund.
4. Conclusion

REFERENCES

APPENDICES

GROUP MEMBER’S CONTRIBUTION

 ABSTRACT
Risk is defined as any problem, challenge, issue, or possibility of danger that affects an
organization's ability to achieve its objectives. Risk management is the process of identifying,
assessing, and controlling threats to an organization's capital and earnings.
For an organization to prosper, it is essential to take risks appetites in order to identify
hazardous areas in the company that could be a threat to the operations, growth, and success of
the company. Therefore, risk management becomes a critical component and an essential aspect
of any organization that wants to ensure that it stays on track to achieve its. In this report, we will
carry out the risk analysis of Tesco.
Firstly, we will introduce the basic information related to Tesco. Tesco's development
history, founded by Jack Cohen in 1919, began as market stalls in London. It expanded globally,
repositioning to offer diverse products and retail services, including food, banking, and
technology solutions.
Secondly, we will analyze the risk management structure, approaches in risk
management and risk appetite of Tesco, policies to deal with health risks and safety, covid-19,
and brand reputation. We also cover the impact of Brexit on Tesco and how the company is
preparing for it.
Thirdly, we will describe the possible likelihood and impact of a 20-point risk, calculate,
and compare the 2 risk scenarios and estimate the risk fund.
Finally, concluding, in this section we will summarize risk management in Tesco and
offer recommendations to the company based on the outcomes of the two scenarios.
1. Introduction

Founded by Sir Jack Cohen in 1919, Tesco Plc originated as a stall selling surplus
groceries in London's East End. The name "Tesco" derives from a blend of T.E. Stockwell, a tea
supplier, and Cohen's surname. The inaugural Tesco store emerged in 1929 in Burnt Oak,
Edgware, Middlesex. These are some key milestones, such as:

In 1940s:

 In 1947, Tesco introduced the pioneering self-service store in St Albans, revolutionizing

shopping.
 The first supermarket emerged in Maldon, Essex in 1956.
 Tesco launched its own brand products, beginning with tea.
In 1960s:

 Rapid UK expansion during the 1960s established Tesco's reputation for value.
 The first Tesco superstore opened in Crawley, West Sussex, in 1968.
 1970s and 1980s:
 Tesco ventured into petrol stations in the late 1970s and introduced the "Every Little
Helps" slogan.
 Diversification into non-food items and international markets occurred in the 1980s.
In 1990s:

 The groundbreaking Clubcard loyalty program debuted in 1995, gathering customer data.
 International expansion accelerated in Eastern Europe and Asia.
In 2000s:

 Tesco.com launched in 2000, entering online grocery retail.

 Store formats expanded to include Tesco Express and Tesco Metro.
 International operations grew in Ireland, Poland, Thailand, and South Korea.
In 2010s:

 Tesco streamlined operations and faced challenges, including a 2014 accounting scandal.
 Investment in customer service, quality, lower prices, online offerings, and same-day
grocery delivery transpired.
In 2020 and Beyond

 Tesco shifted focus toward sustainability and health-conscious products.

  The response to the COVID-19 pandemic involved safety measures and heightened
online grocery delivery capacity.
The ceaseless efforts of Tesco helped them reach the 4th largest retailer in the world,
marked by innovation and customer-centric strategies
Tesco's main businesses around offering an extensive array of products, spanning from
groceries and fresh produce to electronics, clothing, and household essentials. Beyond its brick-
and-mortar establishments, Tesco has been an industry trailblazer in embracing the digital age.
The company has effectively harnessed the power of technology through its online platforms,
enabling customers to shop conveniently from the comfort of their homes and avail efficient
doorstep deliveries.

In risk management, to guard its stability and ensure sustainable growth, Tesco places
paramount importance on effective risk management strategies by assessing, monitoring, and
mitigating potential risks.

2. Analyze the diagram of Risk management report

Source: Tesco Plc. Annual report 2020, page 13-14.

 2.1. Risk management structure of Tesco and the “Lines of defense”
The seven steps of the risk, controls and assurance structure (framework) are embedded
within their business as a key element of how they manage their risks and ensure appropriate
controls are established, including:
1. Risk appetitie & Assessment
2. Clear Governanace
3. Policies
4. Standards, procedures & Guidance
5. Communications & training
6. Investigation & Sanctions
7. Monitoring & Auditing
Tesco, like many organizations, follows the "Three Lines of Defense" model for its risk
management structure. The model is designed to promote accountability, independence, and
effective risk management throughout the organization. This model helps ensure proper risk
oversight and management throughout the organization. Here is a breakdown of how Tesco's risk
management structure aligns with the Three Lines of Defense:
First Line of Defense: The first line of defense comprises the operational management
and staff who directly own and manage risks within their respective areas. This would involve
various business units, departments, and teams responsible for day-to-day operations. They are
accountable for identifying, assessing, and managing risks within their specific areas of
responsibility. The first line is responsible for implementing controls and ensuring compliance
with policies, procedures, and regulations.
Second Line of Defense: The second line of defense consists of risk management,
compliance and support functions. Tesco likely has dedicated teams responsible for overseeing
risk management, compliance, and control activities across the organization. These teams
provide independent oversight, guidance, and support to the first line. They help establish risk
management policies, frameworks, and methodologies. They also monitor and assess the
effectiveness of controls, provide training and guidance on risk management, and ensure
compliance with applicable laws and regulations.
Third Line of Defense: The third line of defense comprises the internal audit function.
This independent function provides assurance to the board of directors and senior management
regarding the effectiveness of risk management, control, and governance processes. Internal
auditors conduct periodic audits to evaluate the adequacy and effectiveness of the first and
second lines of defense. They provide recommendations for improvement and help ensure that
risks are properly managed, internal controls are in place, and compliance requirements are met.
2.2. The “Top-down” and “Bottom-up” approaches in risk management of Tesco
Tesco's organizational structure is tall (hierarchical). It means that there are many leaders
and layers of management. Here, managers have a narrow span of control and there is typically a
long chain of command.
The "top-down" approach in risk management at Tesco involves the management team at
the highest level taking the lead in identifying and addressing risks. This approach encompasses
several key elements:
- The top management at Tesco establishes risk management policies and procedures.
These policies provide clear guidelines and outline the overall risk appetite and tolerance levels
for the organization. They also establish a framework for managing risks effectively across the
company.
- The management team identifies and assesses risks. They conduct a comprehensive
analysis of potential risks that could impact Tesco, considering both internal and external factors.
This includes risks such as operational issues, financial challenges, reputational concerns, and
regulatory compliance. The risks are then evaluated based on their likelihood of occurrence and
potential impact on the business.
- Once the risks are identified and assessed, the management team prioritizes them. They
focus on risks that have a higher likelihood of occurrence and a greater potential impact on
Tesco's operations, reputation, or financial performance. By prioritizing risks, Tesco can allocate
resources and attention to the most critical areas.
- After prioritization, the management team develops risk mitigation strategies. These
strategies are designed to minimize the likelihood of risk occurrence or reduce the impact if they
do occur. They may involve implementing controls, establishing contingency plans, or
transferring risks through insurance or other means. The aim is to effectively manage and
mitigate the identified risks.
- Continual monitoring and review of risks are also crucial in the top-down approach. The
management team at Tesco ensures regular monitoring of identified risks and the effectiveness of
the implemented strategies. Adjustments and improvements are made as necessary to ensure the
risk management approach remains proactive and aligned with changing circumstances.
 - Finally, effective communication and reporting are essential in the top-down approach.
The management team ensures that risk-related information is communicated throughout the
organization. Regular updates on risk management activities are provided, and key risks and
their status are reported to relevant stakeholders. This promotes a risk-aware culture within
Tesco and ensures that everyone is aware of the organization's risk profile.
On the other hand, the "bottom-up" approach in risk management at Tesco involves
employees at all levels actively contributing to the identification and management of risks. This
approach includes the following elements:
- Employees are encouraged to identify and report risks they encounter in their day-to-day
activities. This can be done through incident reporting systems, regular risk assessments, or open
communication channels.
- Employees are involved in implementing risk mitigation measures at their level. They
receive training to understand and address risks specific to their roles and responsibilities,
ensuring that risk management is embedded in their daily tasks.
- Employees are encouraged to report any potential risks or issues they come across,
enabling timely action and preventing the escalation of risks.
- The "bottom-up" approach fosters a culture of continuous improvement, where
employees are encouraged to suggest improvements to existing risk management practices and
processes.
By combining the "top-down" and "bottom-up" approaches, Tesco creates a
comprehensive risk management framework that ensures risks are identified and managed at all
levels of the organization. This approach promotes a proactive risk management culture,
enhances risk awareness, and enables effective decision-making to protect the company's
interests.
2.3. Risk Appetite, Health and Safety, Covid-19 to Tesco
Regarding its Risk Appetite, They have worked with the Executive Committee, Audit
Committee and subject matter experts to agree our methodology. They have amended our
internal Board reporting instructions to ensure that things presented for approval clearly disclose
the risk(s), and we will incorporate references to their risk appetite as they develop. Next year,
they will formalize reporting to the Board and strengthen oversight by further improving and
implementing our risk appetite assessment and reporting. Tesco recognizes that risks are inherent
in any business and managing them effectively is crucial for long-term success. Tesco's risk
appetite is based on a balanced approach that seeks to maximize shareholder value while
maintaining the trust and confidence of its stakeholders. The company emphasizes the need to
take risks in order to drive growth and innovation but also recognizes the importance of
managing those risks within acceptable limits.
In terms of Health And Safety, In terms of health and safety, Tesco noted a slight
increase in health and safety risks due to a change in the regulatory landscape that could lead to
increased penalties and fines. Failure to meet workplace safety standards is the primary cause of
this serious problem, with serious consequences such as death or injury to customers, colleagues
or third parties, and lead to adverse financial and reputational consequences. So Tesco places a
high priority on providing a safe and healthy working environment for its employees and
customers. The company is committed to complying with all applicable health and safety
regulations and standard (Governance and oversight is established in the form of Group Risk
and Compliance Committee and business unit-specific health and safety committees).Tesco has
implemented robust health and safety policies and procedures, including regular risk
assessments, training programs, and audits to ensure compliance and continuous improvement in
this area by second and third line of defence assurance activities.
Regarding Covid-19 in annual report of Tesco in 2020, the COVID-19 outbreak has
become a global pandemic moving from an emerging risk to becoming a principal risk for the
business and it has had a significant impact on Tesco, as it has for many other businesses. The
safety and well-being of their colleagues and customers has been and continues to be their
overriding priority. Their Executive Committee are monitoring events closely with regular Board
oversight evaluating the impacts and designing appropriate response strategies. Tesco has taken
significant measures to prioritize the health and safety of its employees and customers. The
company has implemented various safety protocols in its stores, such as social distancing
measures, increased cleaning and sanitization and the use of protective equipment (PPE). Tesco
has also worked to ensure the availability and affordability of essential products for customers
during the pandemic. They has also adapted its operations to meet the increased demand for
online shopping and has implemented measures to ensure the availability of essential products.
The company has been regularly communicating with its customers and employees about the
safety measures in place and any changes to its operations due to the pandemic.
2.4. The risk to Brand, reputation and trust
 In 2020, Tesco had failure to generate chances for brand reappraisal to enhance quality,
value, and service perceptions, as well as satisfy climate and sustainability requirements, which
has a detrimental influence on the confidence that stakeholders have in their brand.
They continue to conduct a variety of projects and activities that are linked with their
strategic aims, assisting in reappraising the brand and building and maintaining confidence.
They had some key controls and mitigating factors are:
- Group rules, processes, and their Code of Business Conduct outline precise expectations
and behaviors for making the best decisions for their customers, colleagues, suppliers,
communities, and investors.
- As part of their communication and engagement programs, they listen to their consumers
and stakeholders. They include health, community, sourcing, climate, and sustainability
activities as part of their LHP to address these demands.
- Maintain the value and effect of their brand with the advice of professional external
agencies and in-house marketing experts.
- Their Corporate Responsibility Committee is in charge of overseeing all corporate
responsibility activities and projects, such as climate and sustainability programs, to
ensure alignment with consumer goals and brand strategy.
The principal risk of the risk to “Brand, reputation and trust” is not risk movement. Its
means these risks remain the same level. They have enhanced their risk descriptions for these
two principal risks over the year to further reflect that.
2.5. The impact of Brexit to Tesco
Brexit is the name given to the United Kingdom's departure from the European Union.
Tesco had failure to plan for the UK's future commercial relationship with the EU (in whatever
shape it may take) causes disruption and uncertainty in their business and our ability to service
their customers. Any interruption or uncertainty might harm their business, financial
performance, and operations. The risks associated with Brexit remain due to there being no
clarity on the long-term trading relationship with the EU. Although the UK entered the standstill
transition period on 31 January 2020 and uncertainty over the longer-term trade issues could
remain until 31 December 2020 and potentially beyond. The risk of business disruption and cost
increases therefore remain unchanged.
To prepare for Brexit, Tesco has taken several proactive measures. Firstly, despite the
uncertainty surrounding the UK's future trade relationship with the EU (and others), they
continue to participate to critical public policy conversations and engage with government,
regulatory organizations, and business. Secondly, they continue to examine and monitor possible
risks and repercussions on their customers, colleagues, and shareholders, while implementing
suitable mitigation steps to address issues such as logistics, resourcing, and supply. Lastly, they
have created a thorough Brexit contingency plan for any political or macroeconomic
developments that might have a major impact on our market and customer proposition, with
clear supervision from their top management via the Brexit Governance Group.
3. Practical scenario of risk and the reaction – the risk scenario Situation
3.1. Describe the possible likelihood and impact of a 20-point risk.

Likelihood (probability) is described as risk frequency, a measure of the unlikely chance

that an event will occur. It can be determined on an inherent basis for any particular risk or can
be determined at the current level of risk, paying regard to the control measures that are in place.
This can be classified as:

Table 3.1: Risk Rating Criteria (Likelihood)

Rank Degree of Likelihood Definition

1 Never / Remote The chance of the future events occuring is slight ( < 5%)

2 Unlikely The chance of the future events occuring is moderately

possible ( > 5% & < 30%)

3 Reasonably/ Possible The chance of the future events occuring is resonably

possible ( > 30% & < 60%)

4 Expected The chance of the future events occuring is resonably

possible ( > 60% & < 80%)

5 Certain The future events is likely to occur ( > 80%)

Impact (severity) is the threshold or the degree of influence that causes loss or damage of
an uncertain event. This can be classified as:

Table 3.2: Risk Rating Criteria (Impact)

Rank Degree of Financial Impact, Including Brand / Reputation

 impact/ Severity Misstatements & Penalties or Fines Impact

1 Minimal Minimal ( <= $25 million) Questioned, but easily

recovered
2 Marginal Marginal ( > $25 million -$50 million) Some impact, limited
to customers or market.
3 Critical Critical ( > $50 million -$100 million) Significant impact /
Loss of revenue.
4 Severe Severe ( > $100 million – $ 600 million) Significant impact,
earning impact.
5 Catastrophic Castastrophic ( > $500 millon) Total loss of reputation
Freezing of assets or bank accounts and market share

The risk matrix is for recognizing risk as significant, rating risk, prioritizing, and
considering the measures with cost-effectiveness to mitigate/control. The most common form is
the likelihood of the risk and the impact of the event. The risk assessment is a process that relies
on the evaluation of the risk likelihood and impact, and on the development and monitoring of
appropriate internal controls. Large organizations frequently make use of a risk matrix as a
means of summarizing their risk profile. The risk matrix is very useful and can be used for a
range of applications. It can also be used to identify the type of risk response that is most likely
to be employed.

According to Risk Level Matrix by the Hazard Analysis and Critical Control Point
System (HACCP), a form of a matrix of 5x5, the 20-point risk in the risk matrix belongs to the
risk rating "Avoid" (Red color) – Find a way to avoid the risk. The 20-point risk of Tesco
company happens 2 cases:

Case 1: The probability of future events occurring is very highly probable (Level 5). It
means that more than 4 internal issues or failures in the last 18 months with a likelihood
exceeding 80 percent. Simultaneously, the impact is severe (Level 4) and includes substantial
impacts on earnings with the threshold ranging from over $100 million to $600 million.

Case 2: The probability of future events occurring is high (Level 4). It means that about 3
internal issues or failures in the last 18 months with a likelihood fluctuating from greater than 60
percent to at most 80 percent. Simultaneously, the impact is extremely harmful (Level 5) and
includes a total loss of reputation and market share with a threshold of exceeding $ 500 million.

A 20-point risk usually occurs with a frequency of expectation and certainty. The same
applies to severe and extremely severe financial loss thresholds. 20 points in the risk matrix are
high-risk levels. Action measures to address risks and risk scenarios must be developed.

In the case of Tesco Plc, at a 20-point risk belonging to high-level risk, the viability of
Tesco has been assessed, taking into account Tesco’s current financial position and the impact of
certain scenarios arising from Tesco's principal risks. Especially, emerging risks such as finance
and economics, geopolitical and security, social and humanitarian, technological, climate, and
sustainability accepted in risk scenarios.

In Tesco Plc. Annual Report 2020, page 19, Tesco mentioned five "severe but plausible
scenarios" that have been modeled that address the principal risks that the Group has assessed
would have the most direct and material impact on the Group. It's including:

1. Competitive pressure

2. Data security or regulatory breach

3. Brexit impact

4. Reduction in cost savings and cash generation

5. Impact of COVID-19

The scenarios above are hypothetical and purposefully severe with the aim of creating
outcomes that have the ability to threaten the viability of Tesco. Because the probability of these
scenarios occurring is expected and certain and it occurs frequently and has a serious impact on
Tesco's operations. In the case of these scenarios arising, various options are available to the
Group in order to maintain liquidity so as to continue in operation such as:

(i) Accessing new external funding early;

(ii) More radical short-term cost reduction actions;
(iii) Reducing capital expenditure.

Based on these severe but plausible scenarios, the Directors have a reasonable
expectation that Tesco will continue in operation due over the three-year.
 3.2. Scoring the 2 risk scenarios.

Risk scenario 1: Labor strikes across the UK demanding for a 5% increasing of base
salary occurs 1-2 times every year. In Tesco, the risk committee predicts that this year due to
high inflation rate, more than 75% of the employees will join the strike leading to Tesco's daily
operation disruption. Financial losses are estimated at $235m. They recommend the BOD to take
action in advance.

 Financial losses: $235 million (est.)  Rank 4

 Probability: occurs 1-2 times every year ( > 80%)  Rank 5

Risk scenario 2: There is a possibility that the ban for “GMO fruits” shall come into
effect in the coming years. Though that most of GMO crops are used for animal food, there are
some GMO products are for human consumption such as apples, pears and soybean. At the
present, there are growing calls for not choosing any fruit or nut with GMOs origin for direct
human food. The committee estimate that if the law comes into effect financial loss may be
greater than $750m with serious brand prestige impact and market share loss to the hand of its
competitors.

 Financial losses: greater than $750 million, brand prestige impact and market share loss
to the hand of competitors  Rank 5
 Probability: Not sure but there is a possibility into effect in the coming years  Rank 3

Score of risk scenario = Rank of Impact to financial losses x Rank of Probability

Scenario 1 Scenario 2
4 x 5 = 20 5 x 3 = 15

Risk scenario 1 is more severe because the risk score is higher, the frequency is
extremely high (1 to 2 times per year) and it always leads to financial losses because of Tesco's
daily operation disruption. It is challenging to come up with a long-term solution because the
size of the loss varies dependent on the rate of inflation each year of economic.

Labor strikes are organized actions by workers to voice their concerns and demands. In
this scenario, labor strikes are occurring across the UK, with employees demanding a 5%
increase in their base salary for better wages. A higher level of employee participation in strikes
is due to a high inflation rate. Inflation can erode the purchasing power of employees' wages,
making their demands for salary increases more urgent and relevant.

The risk committee predicts that more than 75% of Tesco's employees might join the
strike. With a significant portion of the workforce on strike, the company's ability to conduct
business as usual could be severely hampered.

The disruption caused by the strikes is estimated to result in financial losses of

approximately $235 million for Tesco, underscoring the seriousness of the situation and the
potential consequences of the labor strikes on the company's bottom line.

3.3. Risk appetite and estimate the risk fund.

Risk appetite is the level of risk of the total value of the corporate resources that the
board of the organization is willing to put at risk in pursuit of its goals before action is deemed
necessary to reduce risk. Most organizations have not determined the value they should risk (risk
appetite), calculated how much value is actually at risk (risk exposure), nor the capability of the
organization to take the risk (risk capacity).

After analyzing the above 2 scenarios, we realize that scenario 1 should be accepted as
risk appetite. Because the risk of labor strikes disrupting Tesco's daily operations can be
evaluated within the context of the organization's risk appetite. The organization would need to
determine how much operational disruption it is willing to tolerate in pursuit of its business
objectives. Tesco's risk appetite would define its tolerance for financial losses, especially in
relation to its profitability and financial stability goals.

Part of the risk appetite consideration involves evaluating the organization's capacity and
willingness to implement measures to mitigate the identified risks. Tesco needs to estimate the
risk fund, contingency plans to minimize disruption, and alternative strategies to manage labor -
related risks. To cover/control risk effectively, we estimate the risk fund at $235 million. The
decision to accept this scenario 1 as a risk appetite also depends on Tesco's specific risk
tolerance, strategic priorities, and willingness to navigate the potential challenges posed by labor
strikes and associated disruptions. The risk fund at $235 million is suitable for Tesco's Board of
Directors to take proactive measures such as negotiations with the employees' representatives to
address their demands, exploring ways to mitigate the impact of the strikes on operations, or
considering alternative compensation or benefits strategies.
4. Conclusion

In the throes of the Covid-19 pandemic, Tesco has demonstrated its commitment to
customers by implementing specific and enduring measures aimed at helping disruptions caused
by the virus's expansion. By prioritizing long-term actions, Tesco has maintained its role as a
trustworthy partner to customers, minimizing the impact of the pandemic and enhancing
customer experiences.

In the aspect of reputation and trust, Tesco employs a multi-faceted approach. By actively
engaging with customers and stakeholders and heeding their voices. This commitment to
listening, connected with periodic risk assessments, fuels a continuous cycle of improvement,
strengthening Tesco's standing as a trustworthy and reliable entity in the eyes of its stakeholders.

Hence, Tesco Plc's proactive and strategic approach to risk management shines through
in its measured responses to the challenges posed by the Covid-19 pandemic, potential risks to
reputation and trust, and the uncertainties surrounding Brexit.

Regarding specific scenarios, the labor strike risk and potential GMO regulation impact
are noteworthy examples of risk scenarios that Tesco faces. The labor strike scenario presents a
high-frequency risk due to inflation-driven demands for wage increases. This could lead to
significant operational disruptions and financial losses, necessitating the establishment of a risk
fund to mitigate potential impacts. Meanwhile, the GMO regulation scenario, while posing a
lower likelihood, carries a substantial financial risk and brand impact, requiring proactive
measures to monitor and address potential future regulatory changes.

With the recommendation to Tesco from the two above scenarios, we think they should
focus on dealing with the risk related to Scenario 1 first because it happens every year (1-2 times
annually). To face this risk, Tesco can:

 Propose a moderate increase, such as a 4% raise, as an initial offer. This demonstrates a

willingness to collaborate while also managing labor costs.
 If that proposal fails, Tesco can agree to a 5% increase but strategically rearrange staff to
optimize efficiency.
 Consider hiring more part-time employees instead of full-time staff. This can help control
labor costs while ensuring operational coverage during peak hours.
 In addition, Tesco should also address the risk related to scenario 2. They could consider
gradually reducing GMO products from shelves and cease stockpiling and transitioning to
offering non-GMO and organic alternatives to meet changing consumer preferences. Importing
organic fruits and labeling them would be a good proposal.
 REFERENCES

 Tesco plc - AnnualReports.com. (2020). Tesco Plc. Annual Report and Financial
Statements 2020. Retrieved from https://www.annualreports.com/Company/tesco-plc.
 Hopkin, P. (2010), Fundamentals of Risk Management Understanding, evaluating and
implementing effective risk management. Kogan Page Limited.
 Hopkin, P. (2017), Fundamentals of Risk Management Understanding, evaluating and
implementing effective risk management. Kogan Page Limited.

 APPENDICES
 APPENDIX A: Risk Rating Criteria (Likelihood)

 APPENDIX B: Risk Rating Criteria (Impact)

 APPENDIX C: Risk Matrix

 GROUP MEMBER’S CONTRIBUTION

The scale from 0 to 2

 0 - Not Active
 1 - Normal
 2 - Active

No. Name of student Student ID Task and the level of

contribution

1 Dao Minh Ngoc DTQ1953401010014 2

2 Nguyen Thi Anh DTQ1953401010044 2

3 Duong Vu Kieu Anh DTQ1953401010114 2

4 Nguyen Thi Kim DTQ1953401010098 2

5 Ngo Hoai Ngoc DTQ1953401010015 2