Identify area of risk management that relates to hospitality

Assignment Help Risk Management
Reference no: EM13862303

Assignment

Aim:

The aim of this assessment is to demonstrate an understanding of Risk Management Plans in the context of ‘live' Hospitality venues. Students will have to consider compliance and legislative issues as well as concerns regarding practical implementation and related consequences. Primarily, the students' attention should be on the development of a Risk Management Plan that promotes compliance and best practice in a practical environment.

The Plan will provide the opportunity for students to apply their knowledge of compliance and risk management in the context of the hospitality industry.

Assessment brief:

Each student is required to do the following:

- Identify an area of risk management that relates specifically to the hospitality Industry. Eg: Finance, Taxation, OH&S, Licence Compliance, HR Management, IT systems etc

- Detail how a business would assess this risk and clarify the consequences of ignoring this risk.

- Discuss how the business would need to act in order to counteract this risk, including the benefits of implementing a risk management plan in these circumstances.

- Outline the Risk Management Plan, detailing how and where control, decision making and intervention is implemented.

- What are the major concerns with this plan?

Risk Management Plan

Your task is to establish ‘risk' in a ‘live' hospitality venue and develop a Risk Management Plan to contend with one of the areas identified. Outline the degree of risk, how and where it may be controlled, and how and where decision and intervention could be implemented. You may choose to include appendices, and all work must be fully referenced.

Reference no: EM13862303

Questions Cloud

Best way to go about pricing your product or service : What do you think is the best way to go about pricing your product or service? Why do you think that's the best way
Would you like to work for schlumberger : What are the advantages and disadvantages of Schlumberger's approach to international human resources management? Under what circumstances, if any, might Schlumberger find it necessary to change its international staffing strategy
Legal and ethical considerations in marketing : Assignment 4: Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property
Explain why terminal velocity is used instead of velocity : Explain why terminal velocity is used instead of the initial velocity or the velocity before the particles have accelerated due to gravity to the terminal velocity. Then define the yield stress. Then introduce the two step solution to the problem ..
Identify area of risk management that relates to hospitality : Identify an area of risk management that relates specifically to the hospitality Industry. Eg: Finance, Taxation, OH&S, Licence Compliance, HR Management, IT systems etc.
Essay on adultery : What incidents were happening in the world/country during the time period your urban legend originated that could have influenced the growth of your tale? (You may have to look this up, but it is another example of common knowledge, so no citation..
Find the vision statement of a company from its website : Find the vision statement of a company from its website or other sources (Vision statements for Wells Fargo, Hilton Hotel, 3M Dental Products Division, HJ Heinz, and Chevron can be found on pages 45 and 46 of the text.).
How does dhl differentiate itself from its competitors : How does DHL differentiate itself from its competitors? How do the morning operations differ from the afternoon operations at DHL's Miami gateway?
Calculate the power output in kilowatts for an air flow : Calculate the power output in kilowatts for an air flow of 15 kgjs. Calculate also the thermal efficiency and the work ratio. Neglect changes in kinetic energy, and the loss of pressure in the combustion chamber.

Reviews

Write a Review

 

Risk Management Questions & Answers

  Risk tolerance and factors in setting risk tolerance

Define risk tolerance and factors in setting risk tolerance and define limitations in risk tolerance and potential outcomes.

  Determine and analyse the duration and convexity

Determine and analyse the duration and convexity approach to interest rate risk - Operational risk can be assessed either by using a quantitative approach. Explain and analyse that statement.

  Campaigns of public advocacy groups

Identify and research at least two examples of companies that have been impacted by the campaigns of public advocacy groups. What is the value of democratic inputs in business decision making?

  Valuation basicsa best-selling author decides to cash in on

valuation basicsa best-selling author decides to cash in on her latest novel by selling the rights to the books

  Which bond should the investor select

An investor in the 28 percent tax bracket is trying to decide which of two bonds to purchase. One is a corporate bond carrying an 8 percent coupon and selling at par. The other is a municipal bond with a 51/2 percent coupon, and it, too, sells at ..

  Question 1 report the findings of a comprehensive physical

question 1. report the findings of a comprehensive physical security risk assessment of the building described below.

  You are the financial manager of a company of your choice

you are the financial manager of a company of your choice. you have been asked to share with a group of college interns

  Understand the possible security risks

Write a 1-2 page report including:A title pageAn introduction to the contents of the report An explanation of the possible security risks involved when conducting computer- and network-based operations

  Advanced finance and risk management

Is there directional risk that the bank faces? That is, does the bank gain or lose when the index goes up? When it goes down and is there volatility risk that the bank faces? That is, does the bank gain or lose when volatility goes up? When it goes d..

  Describe and explain how you will measure this indicator

For each indicator, include the following information: Indicator - Describe the indicator. Rationale - Explain why this indicator is suitable for the high-risk area you have chosen. Measurement - Describe and explain how you will measure this indi..

  Find the correct cost of capital

Find the correct cost of capital for evaluating a new generation of electrical equipment and Conglomerate Company has a cost of capital, based on the CAPM, of 17%

  Question otel corporation entered into an agreement with

question. otel corporation entered into an agreement with its investment banker to sell 15 million shares of the

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd