1.

1 NatureCare Products
1.2 NatureCare Products is a business about selling beauty skin care products. Our products are eco-friendly
and has natural ingredients. The business have three products:

● Cleansing cream which is used as make up removal.

● Multi Protection Day Moisturising Creams are used for dry skin, and it is also used as protection
through the day.
● Regenerating facial scrub which is used to remove dead skin cells.
1.3 ROLE:
If I am the one who conducts the risk management investigation, I am not only the owner, but also the
Financial Manager. I'll be looking into any business risks, especially the company's financial situation. As a
result, I may be able to reduce any damage that may occur in the future The role of Finance Manager is all
about money or what we call the financial health of the business, so they are assigned to do financial reports
as well as other finance-related activities such as budgeting.

2 SCOPE:
2.1 Risk management process:
First, I will identify any threat that a business may discover later on; this will help to do the next step, which is to
analyze the risk so we can know how to deal with it and avoid affecting an organization's goal; next, I will
mitigate any damages that may occur to the business; and finally, I will monitor every single detail of the
business as well as create new tactics to protect the business from any risk. All of these processes are critical
for maintaining good business conditions.
2.2
The department/work area that are involved are the CEO, Accounts Department, Marketing Deptartment (
Marketing Manager and Assistant),Sales Dept (Sales Manager), Financial Dept (Financial Manager and
Assistant)
2.3 Risks can’t be managed:
In my opinion, there is nothing we cannot manage if we do our best to manage the business. There are ways
to prevent risks; the business should be responsible for establishing some techniques to reduce any risks and
anything that may impact the organization's objectives.
The business will continue to thrive if all aspects are continuously monitored and risks are identified and
managed.
3 Evaluate organisational requirements and standards for managing risk.
3.1 The organizational policies and procedures that will govern the risk management process are listed below.
Risk Management Policy and Procedures
Internal Communication Policy and Procedure
Procurement Policy and Procedures
Record Keeping Policy and Procedures
3.2 All processes must be followed to ensure that the business does not fail to meet its objectives. As for me, I
will adhere to the Risk Management Policy and Procedure, as well as the Record Keeping Policy and
Procedure, because the Risk Management process is about identifying the risk that may affect the future of the
business, analyzing the risk to determine how seriously it will affect the business, and finding a solution to
avoid damages, which is part of Risk Mitigation, and finally Risk Monitoring. A record keeping policy and
procedure is also beneficial because all records must be kept.
will be saved and made available for future reference
3.3
Risk Management Policy and Procedure
Under this policy and procedure, there are three sections of commitment: the commitment to fulfill risk
management, the commitment to train to become more skilled and an expert in risk management, and the
commitment to examine and observe all aspects of the business as well as the progress of risk management.
NatureCare Products will be responsible for reducing the risks that may arise in the business as part of their
commitment to risk management.
There will be implementation of risk management planning and decision making. And the employees of the
said company will be held accountable for performing in accordance with the risk management standard.
Following that is the commitment to training to become more skilled and knowledgeable about risk
management; the NatureCare Products staff is responsible for understanding risk management principles.
Finally, commitment to monitor all aspects and progress of risk management; this is about staying informed
about anything related to the business by monitoring the
risks and develop a new technique to assist the business in achieving its goals.

Internal Communication Policy and Procedure

NatureCare Products anticipates that their employees will use the communication channels. Communication is
critical in business, especially when it comes to creating and sharing ideas about work in order to achieve a
common understanding. Project or action plan meetings, team meetings, staff bulletins, staff surveys,
NatureCare intranet, enterprise social networks, all staff emails, and email distribution lists are among the
channels.

Procurement Policy and Procedures

This policy governs purchasing activities and applies to all NatureCare Products employees. The practices
covered by this policy and procedures include obtaining a Health and Safety Policy at work, prioritizing the
needs for business operations such as water use and greenhouse performance, and more. According to the
Procurement Principles, it is part of our job to check the goods and services we provide. Employees must
notify suppliers that the company accepts credit cards as a form of payment, and this must be done prior to the
transaction. Finally, there should be a record keeping system in place where all documents are stored, and
there should be a bidding process for the purchase price of the product.

4.
4.1 The AS/NZ ISO31000:2018 Risk Management Principles and Guidelines Legislation.This legislation must
be followed during the risk management process. Because there are principles and guidelines that must be
followed in order for a business to achieve its goals or objectives. It serves as a guide for the company to be
successful and on the right track.
Furthermore, the primary goal of this policy and guidance is employee safety and risk reduction, which will
benefit all members of the organization.

4.2 Regulations are important in business because they are rules that must be followed by employees. So,
yes, the regulations do apply.

4.3 Yes, it is possible to pass a new law. It is done whenever we come across something that needs to be
improved. That is why monitoring risk managements is critical in order to know what actions should be taken.

4.4 According to the AS/NZ ISO31000:2018 Risk Management Principles and Guidelines, in order to achieve
effective risk management, any documents should produce consistent and comparable results. Stakeholders
must be aware of what is going on inside the company, and their opinions and comments must be taken into
account. Any documents, such as contracts, invoices, and other important papers, must be stored safely and
made available at all times because someone will need the old documents for reference.

5.
5.1 Yes, template documents are accessible to obtain the risk management process
5.2 Yes, risk management has a budget allocation
5.3 These are the employees who will assist the Finance Manager:
CEO
Manager
Supervisor
Other Employees
Line Manager
5.4 Other resources required in risk management include the Human Resource Manual or Employee
Handbook, which contains the company's policies as well as how to treat coworkers. A risk register is also a
useful resource because it is used to track the risks that have been identified so that the company can take
action to solve the problem. The Risk Matrix is the tool used to measure the level of risk, and it will be the basis
for making business decisions, which are also governed by organizational policies and procedures. Overall,
these resources will assist the company in meeting its objectives.

6
6.1 Objectives:
● Secure the NatureCare Products from any losses from its operations, hence, the people who
works at the company as well as the financial status, and reputation of the company will be
save.
● Encourage the people who are responsible for making the decision to make a good and precise
decisions, discuss it precisely with the other members so the company will not be affected by
the risk that may encounter.
6.2
Commitment and support
Communication
Training

7.
7.1 The Manager and staff will assist in the monitoring of risk identification, risk analysis, and risk control.
7.2 The adverse risk event will have an impact on all employees and people in the company because it will
reduce the company's operating profits. As a result, all members of the company will be affected.
7.3 Stakeholders in the company will be assigned a task in the risk management process. Because they are
well informed about everything that is going on inside the company, stakeholders are expected to cooperate
with the risk management process. This will assist in determining what should be done to improve the business
and analyzing the identified risk in order to avoid injury.
7.4 Stakeholders are responsible for participating in the risk management process, including risk reporting and
analysis. Furthermore, because they are involved in the project's work, stakeholders can provide some ideas
for making decisions for the future of the business. They have a broad understanding of what is going on in the
organization and will contribute to the development of new strategies for protecting the company from harm.
7.5 There will be consequences for poor risk management. Failure to achieve the risk management plan may
result in some problems such as customer/supplier conflicts, project delays, and employee turnover.
Employees will be impacted as a result of the project's failure, but it will be an additional issue if all employees
demand financial support for their families.

8
8.1
8.1.1 The stakeholders with whom you will communicate in relation to the risk management process
explanation are the owner and investor. They have knowledge and opinions about what needs to be done
regarding the risk management process, as well as contributing some techniques to avoid any risk in the
business.
8.1.2 Managers and clients must be informed about the invitation in order to assist with risk identification. They
have the authority to assess the business's situation and consult with other stakeholders on decision-making.
Involvement is extremely beneficial to the business because it motivates all members of the company to
continue working toward the same goal.

8.2 Consultation is an extremely effective decision-making tool. This consultation process will be able to
receive feedback. Stakeholders will be consulted through public meetings and a survey. Organizing a meeting
will allow the group to share their ideas and demonstrate their plans. Surveys and interviews will also aid in the
exploration and gathering of ideas from company members.
8.3 Risk management is all about protecting the business from risk so that it can continue to achieve its goals
or objectives. All company members should go through training to improve their knowledge of dealing with any
risks that may arise in the future This ensures that risks are managed safely and that all steps, such as
identifying, analyzing, mitigating, and monitoring risk, are followed.
Risk identification is the process of determining any risks that may exist in the company. This allows the
company to be more informed, and the members to plan and create tactics to avoid a negative impact on
business. Risk analysis is a procedure for evaluating the identified risk; all members will discuss the impact of
this risk on the company so that they can search for and plan a good strategy to protect the company from
harm or injury. Risk mitigation is the process of reducing the threats posed by risk; it is a step taken to lessen
the negative impact on the company. Finally, Risk Monitoring entails keeping a close eye on the identified risk.
During this step, all assigned members should conduct a regular update and evaluate the effectiveness of
action plans formulated

8.4
To all Stakeholders,
We would like to invite you to an upcoming meeting for risk identification in the organization. This meeting will
be facilitated and will guide us through the process of identifying all potential risks that we may face today or in
the future. This discussion aims to make good decisions for the sake of the company's future. I believe that by
holding this meeting, we will be able to improve the future of our company. Managing a
Business is more effective when all members participate and share ideas for action.
The meeting will be held on ________ at the NatureCare Products Building. I'm looking forward to meeting you
all. Please contact me if you have any questions.
Thank you

Sincerely,

9
9.1 By analyzing the environment of NatureCare Products' risk management project, any changes in the
legislation of the said business's products are possible. They can also control the business process through the
influence of new politics.

9.2 Despite the current economic situation, the company is still capable of producing services and products. It
is also possible that the value of goods will rise. If the business continues to operate and gains a lot of
improvement and profits, each member of the business will benefit.

9.3 Yes, there are social considerations, such as the members' overall lifestyle. Because health is so important,
employers make certain that all of their employees are physically fit.

9.4 Technological advancements are extremely beneficial, particularly in business, where you can use the
internet to communicate with other members of the company. We can now schedule or announce meetings by
email. Technology has a positive impact on how businesses operate.
thing. Furthermore, we can use technology to keep records in which we can store all of the details and
documents.

9.5 A competitor is a person or organization that competes with another. They do marketing to help businesses
sell their products, and they also present advertisements and promotions for their products.
10 SWOT ANALYSIS - NatureCare Products
Strength - NatureCare Products manufactures an eco-friendly and high-quality beauty product with natural
ingredients that will undoubtedly satisfy customers.

Weakness - The company has a limited product line, and the products are only for women. It is regarded as a
business weakness because other buyers may be looking for some men's and teen products.

Opportunities - By making some research, this business can look for a good market internationally where they
can offer their products.

Threats - There are undoubtedly other companies that provide the same product as NatureCare Products. It is
regarded as a threat because the other competitor's business is financially secure.

10.1 Yes, the risk management policy and procedures are complete. The Risk Management Policy and
Procedures, Internal Communication Policy and Procedures, and Procurement Policy and Procedures are
among them.

10.2 NatureCare Products' resources, including its people, finances, property, and reputation, are all secure.

10.3 Communication between employees and management is critical in business because it allows for a good
working relationship as well as a way to negotiate and share ideas/thoughts in order to achieve the
organization's goals.

10.4 The entire staff is loyal. Building loyalty and trust is important in business because it provides security to
all members, making them more willing to work for the future of the company.

10.5 NatureCare Products has a sizable customer base, with roughly 70% of them being professional women.

10.6 The company will promote programs and a monthly fund raising in order to fund.

10.7 The company's cash flow is in good shape. Any concerns and worries of the finance administrator were
addressed by discussing some treatment options.

10.8 Yes, the company has a strong and reliable supplier relationship because any issues, such as incorrect
invoicing, will cause a delay in the transaction, and the good relationship between the supplier and the
company will deteriorate, because it was taken care of because of the treatment alternatives.

Section 2: Identify and analyse risk

10.9 Leading and organizing a business group discussion will be effective if all employees and members
participate and share some thoughts or ideas about the main concern.
For the sake of the company, the leader must ensure that the meeting proceeds and that a unanimous decision
is reached. The best technique is brainstorming, because it involves everyone, and asking questions for
clarification is the best way to understand each other.

10.10 All invited stakeholders will discuss the identification of the risk, the evaluation of the identified risk, and
the risk treatment.

10.11 The Matrix method will be used in risk assessment to assess the likelihood and severity of the identified
risk.

10.12 A risk matrix will assist in determining which risks should be prioritized. High risk will be prioritized
because it will have an impact on the business's goal.
10.13 When negotiating, stakeholders should consider their company's objective or goals. Everyone must learn
to be creative in order to collaborate with the team and devise a strategy for negotiating risk likelihood and
consequences.

10.14 The leader will convene a face-to-face meeting to determine the risk assessment strategy. Clarify all of
the details and ensure that the company comes first.

10.15 To be united, everyone should know when to stop and listen to others' opinions, when to let others finish
what they want to share, and when to ask clarifying questions. Encourage each member to participate,
especially in decision-making for the sake of the company's success. Remember that asking questions will aid
members' comprehension of the situation.

11

11.1.1 Risk of Fire, Non-compliance Risk and Financial Risk are the types of identified risk.
11.1.2 The Management and all the staffs of the project team will be responsible for the risk.
11.1.3 The first consequence of the risk is the loss of the company's financial income, followed by the loss of
staff members. As a result, the company's demise will affect all of its members and employees.
11.1.4 Treatment options include purchasing insurance, conducting staff training, and planning an audit. This is
about monitoring all aspects of the business for the sake of the company's safety.
11.1.5 The risk will be prioritized using the Risk Matrix based on the severity level of the identified risk. This is
to ensure that we can plan how to solve the problem.

11.2 Holding a meeting with all stakeholders will improve the decision-making process. During our meeting with
Stakeholders, we discussed all of the potential risks that our company might face in the future. We did well by
following the Risk Management steps.
Because everyone participated and shared their ideas, even the smallest piece of information, the
conversation was a success. First, we identify all of the business's potential risks.
Following that, we evaluated and analyzed the potential damage to the company as a result of the risk we
identified. And it is at this point that we consider our action plan for protecting the company or reducing the
impact of risk on our business objectives. Finally, we discussed the members who will be in charge of
monitoring the identified risk and ensuring that the action plan is effective.
All stakeholders agreed that regular monitoring is recommended. We identified three risks: fire risk,
noncompliance risk, and financial risk. Furthermore, we discussed alternative treatments for all of the risks that
we identified. We performed the risk calculation to determine which risks we will prioritize, and as a result, we
will prioritize the high-risk items.
12

13
13.1
RISK OF FIRE
It is a risk that can kill or injure people as well as destroy the company's building and equipment. The
alternative treatment is to ensure that all firefighting materials, such as the fire extinguisher, are readily
available and ready to use. Furthermore, all employees and members of the business must go through
emergency and evacuation training.

NON-COMPLIANCE RISK
Compliance risk is promised to follow the legal responsibility and will receive a punishment for failing to comply
with laws and rules, such as being fired. A risk assessment is an alternative treatment for this.

FINANCIAL RISK
It is a risk that will jeopardize your financial situation; encountering this risk may result in the loss of the
business and inability to pay any debts. The alternative treatment for this is to limit any high-risk clients and
continue to monitor the company's financial status; insurance is also a big help. Make a plan to avoid any
damage caused by any identified risk.
13.2
RISK OF FIRE
A risk that can destroy not only the company's building but also its employees. Everyone should go through
emergency preparedness training.

NON-COMPLIANCE RISK
Failure to follow the laws and rules will have an impact on the employees' working conditions; thus, managing
the risk assessment will help to avoid this risk.

FINANCIAL RISK
This risk will have an impact on the company's financial status; therefore, employees should prioritize the high
risk identified.

13.3
– Insurance
– Conduct a training for emergency
– Risk Assessment

13.4 https://www.sciencedirect.com/science/article/abs/pii/S0263786399000708

14

Treatment Actions
Fire risk can be reduced by conducting emergency training in the workplace and ensuring that all firefighting
materials are readily available and ready for use. Members of the company should also go through evacuation
training so that the people inside the incident do not panic.

Non-compliance risk can be avoided by managing risk assessment; thus, all company members are
responsible for adhering to rules and laws.
Financial risk can be avoided by being cautious about who to trust and analyzing the risk before making a
decision. Continue to monitor the company's financial situation and devise strategies to avoid being harmed by
the identified risk.

Section 3

15.1
When carrying out the action plan, it is necessary to communicate with all of the company's employees.

15.2 A face-to-face meeting will be the most effective way of communicating with all project members. It is due
to the fact that everyone can contribute their thoughts or ideas at the same time and day of the discussion.

15.3 Communication is critical in any business. It will aid in the improvement of relationships with all
employees. Conducting a meeting entails interacting with all company members and sharing all of the
information and ideas we have to improve the business. Furthermore, this is the best time to discuss the
strategies that the company should implement, particularly in identifying and mitigating risk.
The most recent meeting was all about the steps/action plan that we will take to protect the company from any
harm or damages caused by the identified risk. The first step is to identify the fire hazard; this will be the
responsibility of all staff and the owner.
The next step is to determine which fire hazards should be prioritized; this will be done by the administrative
manager; therefore, all company members should be informed about all of this as well. The admin manager
can help protect the business by regularly checking the fire alarms. And the final action plan that we decided to
implement is to ensure that all chemicals are stored in an appropriate storage room on a daily basis, with
someone assigned to do so.

16.1 In the NatureCare Products finance department, an RPA invoicing system has been implemented.
Concerning the risk of fire in the workplace, the step I will take is to regularly check all of the building's fire
alarm systems.

16.2 HR policies, as well as sustainability policies, should indicate the fire safety of all company members.

16.3 Everyone should decide what actions to take to protect the business from harm or damage. In the case of
NatureCare Products, we implemented the action of regularly checking the fire alarms and ensuring that all
chemicals are properly stored.
All employees must identify the fire hazard and learn which hazards must be prioritized. Implementing all of
these actions will give us the assurance that nothing bad will happen to the company we work for.

16.4 Check that all of the details are correct and that all of the items required for fire safety are identified. To
complete all of the steps, the responsible members for each step must complete all of the tasks required.

17
17.1 Data from all the incidents encountered inside the company.
17.2 No, there are no new risks emerged.
17.3 Yes, there are incidents recorded.
17.4 Yes, there are feedback provided.

18
18.1 No, the identified risk is irrelevant.
18.2 Yes, the risk treatments are effective.
18.3 There are no new risks.
18.4 The stakeholders are extremely pleased with the action plan for mitigating the identified risk.
18.5 Yes, all treatment actions are still in accordance with best practice.
18.6 No other risk treatment is required.

18.7 There are risks in business that can destroy or harm the company's reputation. Nature Care Products is a
business in this project that sells eco-friendly, high-quality beauty products made with natural ingredients.
Expect risk in any business we enter; all we need to do is devise a strategy to avoid losses and keep the
business on track to meet its goals or objectives.
There are three types of identified risks: fire risk, non-compliance risk, and financial risk. The risk of fire is
extremely dangerous because it can destroy not only the building and its contents, but also the people who are
inside.
The Non-compliance Risk is about not following the rules and receiving a punishment for not complying; the
worst-case scenario is losing a job. Financial risk is the failure to monitor the financial status of the company,
which can result in the company losing its business permanently and being unable to pay its debts, if any.
Thus, insurance will be extremely beneficial, as will regularly checking and monitoring all aspects of the
business, particularly the financial situation. As a result, the members can consider solutions or new
techniques for the identified risk in order to avoid negative consequences, and the company can continue to
pursue its goals. It is encouraging that at this time, every detail and important thing in the company is being
monitored by the assigned members of the business, indicating that the action plan is progressing well.
.