The class is starting a small manufacturing company. You will be manufacturing a

Question

The class is starting a small manufacturing company. You will be manufacturing a wide variety of items and will take on new ones if there is a market and a strong potential for profit. The manufacturing plant will have lots of different kinds of tools, machinery and some hazardous materials.

Make suggestions for developing Risk Management Checklist. A risk is any uncertainty about the future that threatens an individual's or organization's ability to accomplish a goal. Risk Management is an effort to develop sensitivity to the potential of any future event that could cause harm.

Using the textbook and outside readings, suggest major items that need to be on our list, writing a justification of each item you suggest. Under your major item, you can list specific items which need to be considered. For example, a major item might be air pollution, for which I would need a justification for get it on our list. Specific items might include: Are there barriers between the manufacturing production area and the administrative offices; Are the production staff provided with air purifying masks, etc.

You will notice that this topic is broader than health and safety. You will want to cover health and safety, but also look at other areas which the organization might be at risk and you need to protect employees

Explanation / Answer

Risk Management Checklist:

I will aggregate all the risks under the following headers so as to make a comprehensive list of all the risks that can affect the growth and position of my new company:

Strategic Risk comprises of market risk, product risk etc.

This consists of regulations and legal risks. I will look at the following parameters:

This comprises of several risks such as following:

Any activity that can dilute the brand of the company such as following:

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.