1) Risk with ineffective and inefficient internal staff which lead to compliance risk as they can be...
Question:
1) Risk with ineffective and inefficient internal staff which lead to compliance risk as they can be part timers and also runner as they do not follow the regulation or internal standard in UPC which can lead to fraud, mistakes, subpar customer service and non-compliance. The business activities at UUM Parcel Centre will be impacted by this risk, which is unclear and cannot be foreseen to occur as the runner tend to charge the customer more than what they should.
2) Risk of losing items can occur at UPC because there are several couriers that deliver the parcel on the same day including Jnt, Shopee Express, Ninja Van and so on
3) There are also parcels received by UPC that cannot be updated on the website due to factors such as unclear airway bill, no full name and matrix number. This happens when students do not follow the address standard set by UPC.
4) UPC also accepts the risk of an unexpected number of parcels when many online platforms make sales on a certain date, for example on sales on 11/11. This causes UPC to receive so many parcels in one day and need to update on the same day of delivery.
5) Since the procedure for collecting or picking up parcels is always changing, students are unable to follow the guidelines that are provided by the UPC.
6) Risk of parcels being damaged. This can occur when the UPC staff mishandle the customer's parcel in its sorting warehouse.
7) Risk of new entry. Rise of arising competition in the same industry since low entry barrier.
8) Third-party vendor risk refers to any risk incurred on UUM Parcel Centre by external parties like service providers such as SenangPay. These external parties pose a risk due to their access to internal company systems, data, and other privileged information.
9) Poor visibility on the external courier delivery operations such as Ninja Van, J&T and Shopee Express as the issues arrived because of this company but UPC are the one that are affected by it.
10) Risks from the students' side where they complain about the waiting time and tend to post it on social media such as facebook for receiving the parcel are not as expected and they have to make long queues at the counter due to wasting their time waiting for their turn to collect the parcel.
11) Students are confused by the charge variations because prices are charged differently at different UPCs. The price charged for the collection parcel category is based on the type of parcel while UPC also penalizes the consumer who collects their parcel late.
12 Risk of image of being spoiled. Problems made by staff can affect the company name.
Question
Base on the 12 risks Prepare risk register that have been identified, assessed and evaluated (with a brief explanation please)
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts