Qualitative Inquiry of Information Technology MyAssignmenthelp.com

Question: Discuss about the Qualitative Inquiry of Information Technology. Answer: Introduction: MacVille Pty Limited is a business enterprise dealing with provision of caf services in Brisbane. The business has the objective of expanding itself by overtaking the Hurleys caf which is family business located in Brisbane as well. MacVille business has specified its mission, vision and values which are to be achieved with the specified strategic instructions and management system. In addition to that, the business has implemented a risk management policy that is run by a team of directors, management and employees who ensure that the policies and procedure required to complete the process are adhered to the letter. Additionally, all the members of the management team are allocated specific roles which they have to play to ensure the success of the process. However, before undertaking the risk management process, they have to come up with a plan or framework that is going to guide them on the process. The framework mostly consists of elements like the policies and procedures, freque ncies of reporting, business planning and budgeting schedule, risk management review and the external audit (Baxter et al, 2013). All of these steps help the management team to come up with the best business risk management plan which they later have to report to the businesss overall Board of directors meetings. However, before that the team in charge of the risk management assessment report should ensure that the directors have always been updated on the progress of the risk assessment process (Bromiley et al, 2016). This is possible only when the risk management directors take the responsibility of briefing the businesss board of directors periodically; say monthly. When it comes to the audit report, it is derived by the external auditors chosen for that purpose. This report is the last report to be given to the board of directors but after the risk management team has viewed it and affirmed it. Identification Risk Treatment Event Action Plan Risk owner Time to resolve Banking Risk Avoid Implement a rule to pay the cashier only after a meal Implement the rule of always banking the money after every business day Construct a safe to store the money in case it is left. Financial controller 30th Dec 2014 Managers travel risk Reduce Deice safe travel methods Reduce travelling trips taken Manager 30th Dec 2014 By-law compliance risk Avoid Implement formal and frequent legal compliance monitoring; e.g. identifying the compliance requirements, review of the requirements every month, device a compliance requirement control instrument to manage them. Practitioner; attorney general 30th Dec 2014 Loss of brand recognition risk Avoid Ensure cleanness of the surrounding and high brand quality Implement strict rules and regulations to govern the staff while working manager 30th Dec 2014 Lack of security Avoid Ensuring that there are watchmen and to maintain security around the caf. Installation of security cameras and lights to enhance the security levels Security team, the county council and manager 30th Dec 2014 SEVERITY NEGLIGIBLE MARGINAL CRITICAL CATASTROPHIC PROBABILITY LOW Low Managers travel risks Medium Loss of brand recognition risks Medium Loss of brand recognition risks High Legal risks MEDIUM Low Managers travel risks Medium Loss of brand recognition risks High Legal risks Extreme Financial risks HIGH Medium Loss of brand recognition risks High Legal risks High Legal risks Extreme Financial risks Risk in priority order from the risk register Possible risk treatment options Preferred options Benefit analysis Person responsible Banking risk Implement daily banking policies Transfer of banking accounts to the nearest banks Avoid Financial controller Managers travel risk Reduce the travelling trips Conduct meeting early and commence early Reduce CEO By-law compliance risk Have functional and legal issues handled before business commences Higher a legal councilor to guide the legal operations Avoid Goldsmith Partners Loss of brand recognition risk Improve the quality of the product Use better inputs to prepare the beverage Increase the level of cleanness for the staff Reduce Store manager The risk management analysis of MacVille business is certainly very effective and according to the standard. This mean that the probability of it achieving the businesss objectives and goals is very high. The key elements of the standardization is that the framework should be able to touch on every department that is likely to experience risks in future or currently experiencing risks and challenges in its operations (Olson et al, 2015). As an assistant manager I am one of the team members of the risk management team; specifically I am in charge of the whole group. This gives me the authority and power to direct, organize and lead the other team members towards making the process a success (Soltanizadeh et al, 2016). The general goals for the assessment process is to identify, find a suitable solution and implement the solution to see whether the risk will be overcome. Additionally, the purpose is also to identify the possible future risks that may affect the specific departments, ca lculate the effects that may arise and then come up with a solution as well. Stakeholder Internal/External Role in process Stake in process Directors Internal Come up with policies Stakeholder Employees Internal Carry out the process Workers Landlord External Give the council by laws Advisor Store Managers Internal Come up with policies Stakeholder Senior Managers Internal Manage the process Stakeholder CEO Internal Offer financial and technical support Stakeholder Financial Auditors External Analyze the financial status of the business Employees Pest Analysis POLITICAL Toowoomba county council policies and laws ENVIRONMENTAL Different market place Change of consumers Climate change; weather conditions SOCIOLOGICAL Customer changes Changes of customer beliefs, culture and norms which may affect demand TECHNOLOGICAL Different technology use for production which may be caused by change of product characteristics or features and customer preferences Swot Analysis STRENGTHS Committed CEO Effective and efficient management team Adequate finances to fund the expansion WEAKNESSES Has little information about its new market demand and status Inadequate information about the possible product consumers especially their cultural differences OPPORTUNITIES Availability of a new market Chance to grow and develop, i.e. expansion THREATS Possibility of new similar businesses Existence of similar products in the market The risk management process is due to commence very soon just as stated in the date on the report provided. Therefore, I hereby ask for your input support whether in terms of ideas and opinions, financial, technical support i.e. expertise and experience and most importantly your full commitment and determination. To help you with the decision, the following are some of the risks I have already identified to be facing the business: financial, marketing, product quality, fraud and theft, conflict of interest, accountability, capital investment among others. Your support will be highly appreciated. Referencse Bromiley, P., McShane, M., Nair, A., Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions.Long range planning,48(4), 265-276. Galliers, R. D., Leidner, D. E. (2014).Strategic information management: challenges and strategies in managing information systems. Routledge. Olson, D. L., Wu, D. D. (2015).Enterprise risk management(Vol. 3). World Scientific Publishing Co Inc. Baxter, R., Bedard, J. C., Hoitash, R., Yezegel, A. (2013). Enterprise risk management program quality: Determinants, value relevance, and the financial crisis.Contemporary Accounting Research,30(4), 1264-1295. Dionne, G. (2013). Risk management: History, definition, and critique.Risk Management and Insurance Review,16(2), 147-166. MacLeod, M. A. (2016).The role of risk management in business continuity: A generic qualitative inquiry of information technology managers(Doctoral dissertation, Capella University). Brustbauer, J. (2016). Enterprise risk management in SMEs: Towards a structural model.International Small Business Journal,34(1), 70-85. Soltanizadeh, S., Soltanizadeh, S., Abdul Rasid, S. Z., Abdul Rasid, S. Z., Mottaghi Golshan, N., Mottaghi Golshan, N., ... Wan Ismail, W. K. (2016). Business strategy, enterprise risk management and organizational performance.Management Research Review,39(9), 1016-1033.