The paper 'Amerika Restaurant Management Strategies" is a good example of a management case study. Risks cannot be avoided in any business and this has become a reality even in the operation of the Amerika restaurants. In many of the restaurant’ s undertakings, the identification of the very many risks involved should form the paramount focus of the enterprise. These areas of high risk should have remedial measures taken against them to reduce the many negative impacts it can have on the enterprise as a whole. The main objective of the development of the risk management plan is to control the risk the enterprise is exposed to.
The identification of the exposures and the development of the appropriate risk strategies will have a positive impact. The risks will be well tackled and the appropriate measures employed through proper decision-making mechanisms and risk control measures. RISK MANAGEMENT PLAN: AMERIKA RESTAURANT Risk management involves the adoption and application of processes aimed at identification, assessment, analysis, and control and monitoring of some likely adverse event- otherwise referred to as risks, and their consequences. Risk is usually inherent in the structure of an entity.
In a business organization, the risk is inherent in what the business does and in its composition; management, personnel, inventory among other things. Consequences of risk in an organization are also diverse ranging from financial loss to public or political embarrassment (Lafley & Charan 2008). Risk management helps to ensure that an organization has identified its likely adverse events and that has taken necessary steps toward controlling such events and their consequences. It is the duty of the management of any organization to ensure that proper risk management strategies are put in place in different areas of operation in an organization.
In doing this, the management has to focus on putting controls in different areas of operations in the organization. In order to apply efficient risk management strategies, managers have to plan (Sheffi 2007). A risk management plan helps the management integrate different controls measures in an organization into one whole system of controls. Besides, the plan gives visible, formalized, and consistent processes of combating risk thereby enabling the management to implement and support them with continuous improvements.
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