Write a risk management column discussing, Strategical, operational, financial, CSR, marketing, competitive, governance, regulatory, technological, physical, locational, technological, and people risks. Each one must have a heading and you need to give 3 examples for each of the headings.  Make sure you give each heading 3 examples of each that will affect my business how likely and what is the impact level and need to elaborate the strategy to prevent it from happen or action plan. follow the example underneath. 

OPERATIONAL RISK	LIKELIHOOD	IMPACT	STRATEGY
Maintaining of necessary equipment and systems to run daily op rhythm.	Medium	High	Have an on-hand IT third party to ensure that websites are running smoothly. Have security updates and software upgrades quarterly.

STRATEGIC    RISK	LIKELIHOOD	IMPACT	STRATEGY
Increase of competition	Low	High	Keeping our   customers satisfied by understanding their need and wants in the current   product that we offer. Upgrade the SipChip   to detect substances in hot beverages and certain food range by the 2nd   year of operation. Be innovative by   introducing more product range such as nail polish & drink coaster by the   3rd year of operation.

FINANCIAL    RISK	LIKELIHOOD	IMPACT	STRATEGY
Foreign exchange   rates	High	High	A Forward rate   agreement between both parties. This is an over-the-counter contract   that determine the rate to be paid on an agreed upon   date in the future

People    Risk	Likelihood	Impact	Strategy
DHL transportation   of goods.	Medium	Medium	Secure a contract   with DHL to make an agreement on any damaged goods while transportation.   Getting insurance on our product and mark the product before sending with   “fragile sticker“and “weight” to ensure appropriate handling

GOVERNANCE    RISK	LIKELIHOOD	IMPACT	STRATEGY
Lack of communication between board members	Low	High	To communicate thoroughly with our partners to ensure no fraudulence   are being made.  Having quick morning and afternoon meetings to keep everyone in the   loop and to have an understanding of how everyone is tracking for the day.

REGULATORY    RISK	LIKELIHOOD	IMPACT	STRATEGY
Change in   legislations/ policies.	Low	High	The contingency   plan within the budget allows for unexpected changes to be accounted for.

I want you to follow the above template and make all the risk with headings. Each heading need to give 3 risks and what is their likelihood, impact and what strategy. Please make sure you are precise and solid risks. 

Risk	Who might be harmed	Likelihood	Impact	Score	Management response
STRATEGIC	Business shareholder are fully liable for the potential loss. generated from the business.	2	3	6	Plan, monitor, control, and implement efficient strategy in every seasonality of the business. Develop an effective business plan.
Liability risk	Business shareholder are fully liable for the potential loss. generated from the business.	2		6	Plan, monitor, control, and implement efficient strategy in every seasonality of the business. Develop an effective business plan.
Competitive risk	Business ongoing operation are affected by the pricing, Innovation, location, resources and promotions strategy. decided by the business owner.	2	3	6	Owners must drive competitive risk improvements such as cost directions and quality improvements.

Risk	Who might be harmed	Likelihood	Impact	Score	Management response
Illegal sale risk	Managers can be put at risk through the sale of tobacco and alcohol due to heavy regulation. May result in fines for the business.	1	2	2	Train staff to always check proper identification documents before each sale of alcohol.
Consumer data risk	Consumer can be put a risk through their purchase with credit or debit card. Our business might be the target of credit card fraud.	2	2	4	Improving staff awareness of cyber security issues and threats. Periodically reset passwords to reduce the ongoing risk of credential compromises. Look out to unusual account activity.
OPERATIONAL
Wastage risk	Cost/profit of the business.	2		6	Monitor inventory, customer purchase patterns. Provide accurate and timely data information.
Handling and movig stock(Heavy lifting)	Staff might risk serious injury from heavy lifting, and bulky objects.	2	3	6	Train staff to split load Provide a trolley for moving heavy stock Store heavy goods in the most accessible and appropriate location.

Risk	Who might be harmed	Likelihood	Impact	Score	Management response
Working at height (Stock on high shelves)	Staff fall from height can cause significant injury.	1	3	3	Provide ladder and proper equipment training.  Store heavy items in accessible area. When ladders are used must ensure they are well positioned, and stable and steps are horizontal.
Contaminated products	Consumer might feel sick from a product that has been contaminated or has expired. Business can be negatively affected if the quality of product is below standards.	2	3	6	It is important for the business to be protected in the event of a product making a customer sick. Regularly check fresh packed produce, fruit and vegetables that might put customers at risk.Introduction of Date Check Pro software.
Slips and strips	Staff may be injured if they slip on spillage or wet floors.	1	2	2	Make sure the floor is in good condition. Maintain high level of house keeping. Use a wet floor signal.
Threat and robbery and physical violence	Staff might be threatened with assault, verbal abuse or other forms of violence from the public.	2	2	4	Train staff on how to handle difficult customers to avoid confrontation. Create a panic alarm location out of customer sight. Establish procedure to deal with robbery Implement efficient communication between staff and managers. Staff must

Risk	Who might be harmed	Likelihood	Impact	Score	Management response
Transport (deliveries)	Staff member might be negatively affected by injuries if struck by a vehicle. Possibility of delay on delivery.	2	2	4	Staff must not walk backwards when unloading deliveries from vehicles. Staff must follow proper safety procedures.
Contact with chemical products	Staff might risk being harmed suffer skin eye irritation with chemicals and vapor created by chemicals.	1	2	2	Train staff on how to use and store cleaning product safely. Provide the staff with protective gloves and correct equipment.
Electrical Equipment	Faulty electrical equipment might put in danger staff and customers.	1	2	2	Staff need to spot and report timely damaged cables and on/off switches Replace faulty equipment. Train staff how to use fuse box and how to safely turn on and off the electricity in an emergency Regular test & tag checks by local electrician
Fire	Staff and customer if trapped might suffer of fatal injuries from smoke inhalations or burns.	1	3	3	Implement efficient fire risk assessment and train staff on which action needs to be taken during a fire emergency situation

Liquidity risk	Owners might suffer a slow return on investment and might not met their short term debt obligations.	2	3	6	Compare short term liability and liquid assets. Monitor sales, and cashflow timely in order to avoid financial problems.
Business  Disruption	Unpredictable changes in business environment can negatively affect return on sale of the business.	1	3	3	Monitor changing environment which could be truly disruptive Introduce agility, adaptability and responsiveness to emerging threats.
Unplanned  capital  expenditure	Business, and its budget can be negatively affected by unpredicted expenditure that can occur during ongoing operations.	2	2	4	Allocate proper capital expenditure in the budget plan of the business.

Risk	Who might be harmed	Likelihood		Impact	Score	Management response
Difficult to sell products	Business in the short or long term can suffer due to overstock, or lack of sales for a specific product.	2			4	Review marketing operations. Implement an effective business sales strategy. Improve market research and development.
PEOPLE
Managers and employees	Business activity might be compromised by the bad faith of their employee and manager.	2		3	6	Establish and power business culture. clearly outline organization’s procedure, practices and rules, avoiding unexpected behaviour that can put business performance at risk.

Risk	Who might be harmed	Likelihood	Impact	Score	Management response
REGULATORY
Change in regulation	The commercial activity might suffer if the different variables that influence the economic outgoings of the business perations change. change in regulations might cause rippling effect across an industry.	1	3	3	Our company must abide by regulations set by governing bodies that oversees the industry.
Tax policy reforms	Reforms can affect the bottom line for business and individual investor, a change in the income tax will likely to affect directly the income profit of the business.	1	2	2	Our business needs to follow tax policy reforms and adapt every type of changes in the regulatory risk.
Minimum wage laws	Increase in the minimum wage, can impact the business, especially if in the long-term operations more venues are going to be opened.	1	1	1	Our business needs to be able to be competitive trying to achieve economies of scale, and not suffer potential further losses.

OPERATIONAL RISK	LIKELIHOOD	IMPACT	STRATEGY
Maintaining of necessary equipment and systems to run daily op rhythm.	Medium	High	Have an on-hand IT third party to ensure that websites are running smoothly. Have security updates and software upgrades quarterly.

Risk	Who might be harmed	Likelihood	Impact	Score	Management response
Competition and legal action	Staff might be harassed at work	1	2	2	Train employees on legislation bribery and harassment) Establish an insurance against the risk of legal action
GOVERNANCE
One of the six owners withdraw from the project	Investor	2	2	4	Sign every investor/owner in a 3-year contract Investor purchase the quota of withdrawing owner
Stock safety	Business revenue	1	3	3	If demand or supply is uncertain over a period of time the business needs to maintain a level of stock safety to avoid risks of stock out.