ipl-logo

Visage Case Study

945 Words4 Pages

All problems have a solution, and every solution comes with risk. Risks are something that cannot be ignored and are unavoidable for a business. Although, some risks are necessary for a business to keep up with the needs of customers. Small businesses are always battling to keep customers and are looking for ways to be different. This can be done through taking the needed risks. Visage is a small business that is constantly taking risks to stay in business. There are different types of risks, some small and other risks that are large and could potentially derail a small business. Visage has solutions to their problems but needs to conduct a risk analysis on the solutions to see if the risks are worth taking.
There are different approaches …show more content…

The next step involves fully understanding that the solution will include risk. There are times when the solution may cause more harm than good to a business. Visage has possible solutions to the problems that are effecting their business. Visage need to make a choice to either accept the possible risks or find another solution to their problems. The first proposed solution is for their employees to work as a team and bring together their creative ideas towards the visions and goals of Visage. The second proposed solution is to start regularly conducting employee counseling. These solutions are good but they carry risks that needs to be analyzed to make sure that the right approach is being taken for …show more content…

Visage could select the manager or even a regular employee to oversee the possible risks and give them the right steps to recover if the risk fails. The fourth step is to determine controls that would reduce the potential risk (2017). Visage must ensure they implement controls, some controls maybe building a standard operating procedure for the new manager to build upon. This will allow workers to feel involved in the changed. Step five and final step and is to review the risk periodically (2017). Reviewing the risks should be done every time something new happens or any new changes takes place (2017). Visage should consider analyzing their risks regularly because they are always making changes that could have big risks involved. Taking these steps does not mean that risks are gone completely, but it does give the knowledge of potential

Show More
Related

Marvin Green Postal Service Case

666 Words | 3 Pages

The causes for work conclusions should be well detailed to all persons. Make sure supervisors keep up records for at minimum the legally-mandatory times (Dominguez, 2006). • Create the prospective of personnel, managers, and senior managers with EEO in mind, by giving teaching and counseling to give employees of all upbringings the chance, expertise, knowledge, and material essential to do well, and to rise to high-level professions (Dominguez, 2006). • Make sure advancement benchmarks are made well-known, and that advancement opportunities are conveyed to all qualified personnel (Dominguez,

Read More

Summary: Sandwich Blitz

620 Words | 3 Pages

Dalman and Lei need to create a new employee handbook addressing problems that are occurring now, in the future, and potential punishments for breaking rules and regulations. The first step is to set performance standards. Step two is creating a way to measure performance. Next is step three which consist of comparing performance of the employees against the standards that are set in step one and to determine any potential or current discrepancies. The last step is correcting problems and enhancing success.

Read More

Pros And Cons Of Risks In A Night To Remember And The Vanishing Island

671 Words | 3 Pages

Do risks always have positive connotations to them or make a negative impact from that conflict? Taking risks takes on a big part of people's day-to-day life. While risks may have both positive and negative outcomes, the most important aspect is the knowledge gained from these experiences. Sometimes, risks may be seen as goals or achievements that you've done or negative actions such as losing something or someone. These actions can bring you into a better version of yourself or the worse.

Read More

Analysis Of A Kenyan Teen's Discovery By Richard Turere

914 Words | 4 Pages

Taking a risk means to position yourself in a role or moment of uncertainty. Depending on your circumstances, taking a risk either leads to failure or prosperity. In general, risks have a positive effect and introduce bigger and better things in our life. No matter the outcome, risk taking eases you into being a more resilient individual and builds capabilities to improve chances of future victories.

Read More

Business Level 3 Unit 1 P1

515 Words | 3 Pages

It is therefore worth to spend time to review the potential risks that you face and come up with a contingency plan. Cash Flow and Financial Management Smooth cash flow management is crucial to any business. For a business that has just started and it is even more important. Cash constraints can turn to be the biggest monster to limit

Read More

Fraser Foods Case Study Assignment

1475 Words | 6 Pages

Contents Terms of Reference 2 Procedure 2 Findings 3 Current Structure 3 New Structure 4 Employee Relationships 4 Instructing Staff 5 Contingency Variables 5 Conclusion 6 Recommendations 6 References 7 Appendix A 8 Terms of Reference I am a HNC business student. I am writing this report as part of my course. This assessment covers outcome 4 of the Managing People and Organizations' class.

Read More

The Great Unknown By Matthew Halverson Summary

1409 Words | 6 Pages

As soon as the project is launched, it is important to put in place a risk management: look for the weak points of the project, think about the actions to prevent the risks and consider the solutions to make if they occur. Thus prepared, project managers will avoid being destabilized when unforeseen events occur. So it is impossible to predict all risks, which is what gives an adventurous side to the project management. However, a rigorous risk analysis is a good way to ensure the success of your project. To better counter and manage the risks related to the project, project managers must follow the different stages of the risk management because risk management is not a separate discipline but an integral part of project management.

Read More

Learning Disabilities Association Of Saskatchew Strategic Recommendations

963 Words | 4 Pages

This could lead to confusion as to the direction in which they should work. It appears as though this is a consistent issue for this organization, and is an area in need of significant improvement. Due to the issues I have discovered, I have decided to outline some recommendations to improve the organization’s operations. Increase volunteerism in the organization. By utilizing volunteers, the level of paid employees should decrease.

Read More

Resto B Case Analysis

1678 Words | 7 Pages

To address these issues, we survey five specific problems that employees commonly face, and provide recommendations accordingly. Emotional

Read More

Competitive Advantage Of Costco's Business Model

1090 Words | 5 Pages

Furthermore, the company is increasingly appealing to customers and continues to maintain more than 90% of its members year to year. With the leadership at the helm of the company and their commitment to maintaining their competitive advantage, this remains an incredibly appealing business model. However, replicating this model would be incredibly challenging for small scale

Read More

Target Risk Management Case Study

908 Words | 4 Pages

The risk management process establishes the methodology for risk enterprises framework for the of many businesses (Fraser & Simkins, 2010). A retail business such as Target needs to do a risk assessment to establish the types of risks being faced by the organization. The risk assessment process starts with the identification and categorization of risk factors. High customer interaction of the retail businesses like Target, need to identify risk as a continuous basis effort over the lifetime of the business (Mandru, 2016). It important that the business leaders, set goals and priorities for the risk management system.

Read More

Person-Centred Approach In Health And Social Care Essay

1524 Words | 7 Pages

Risk assessments should be reviewed on a regular basis to ensure that they are up to date and take account the changing needs and preferences of the individual. It is your duty to provide a choice and the individual’s right to choose. A risk assessment documents the fact that an individual is aware of all risks associated with the action they wish to take, are aware of any consequences, but still wishes to carry it out.

Read More

Texas Small Business Essay

624 Words | 3 Pages

Despite their significant contributions, small businesses face various challenges that can impact their

Read More

Analysis Of Financial Analysis: Whitbread PLC

3531 Words | 15 Pages

The RWG is led by the general counsel and company secretary and involves the heads of global risk management, global strategy, program office and global internal audit. Supporting the group's major risk review prepares each of the areas and capacities have their own danger profiles that are redesigned quarterly in accordance with the exercises of the vital arranging cycle. During the interim periods, consistent dialog happens between risk managers and risk topic specialists to create, execute and screen nitty gritty danger evaluations, hazard relief systems, controls and key risk markers. (IHG Annual Report,

Read More

Youth Culture In A Clockwork Orange

1044 Words | 5 Pages

In A Clockwork Orange, the dystopian England envisioned by Burgess serves to exaggerate the evils of both youth and adult society as a way to highlight the futility and the recklessness of youth rebellion. Given that the interactions between the young and the grown up words is one of the primary reasons for the development of rebellious youth cultures, the most effective way of communicating the opposing worldviews of both sides is to take them to their logical extremes. Youth culture is not just carefree and naive, but anarchic and infantile. Adults are not just reactionary and strict; they are antipathetic and authoritarian. It is this extreme clash between the generations that serves to perpetuate and even encourage the rise of youth counterculture

Read More

More about Visage Case Study

Related Topics

Open Document