Question: Your CEO advised you to go through your current workplace vision, mission, goals and/or values and various departmental objectives and…

Question:Your CEO advised you to go through your current workplace vision, mission, goals and/or values and various departmental objectives and tactics. Review your observation; you have identified the following key problems:

     i.        Lack of internal controls, particularly over cash handling, monitoring and recording.

    ii.        Failure to meet compliance standards in duty of care and WHS, Privacy and confidentiality, Freedom of Information, environment law, reasonable adjustment for newly appointed disable staff and Industrial relations law.

  iii.        Due to poor implementation of contract law, lack of written policy and procedures to guide staff in performing their job duties.

  iv.        Lack of a professional business culture in the family run business.

    v.        Failure of the business to monitor the external environment and align opportunities and threats to the business.




Use the similar context to answer this part:

  1. Once again, use your previous responses – determine and select most appropriate options for treating risks and further create an action plan for implementation.
  2. Explain the importance of risk documentation and storing of risk information?
  3. Evaluate one example of your workplace risk context, analyse the use of specific legislative framework during communication to relevant parties, risk documentation and storing of risk information? Justify your judgment.
  4. Discuss why we require analysing monitor and evaluation of risk management process? Justify your question using logic.
  5. Prepare a list of most appropriate insurances for this business. Justify your question using logic.

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