Hazel realised that she needed to become more pro$-$active in managing her risk. She is now

considering a significant expansion of the menu by introducing a new line of plant$-$based chicken

alternatives to cater to the growing demand for vegetarian and vegan options. This strategic move

aims to attract a broader customer base and align with the increasing trend towards plant$-$based

eating. However, the introduction of plant$-$based alternatives presents inherent risks and challenges

for the diner.

She is aware of her limitations and has come to you for advice. You are to compile a report to assist

her in understanding risk management.

$3.$ Risk Identification

$3\mathrm{.}1$ Apply the key features of the risk$-$identification process to The Roostery

Note that marks will only be awarded for application. No marks will be awarded for

theory.

$3\mathrm{.}2$ Differentiate between risk and uncertainty by using comprehensive, practical examples

that are relevant to The Roostery.

Note that marks will be awarded for theory and application.

$3\mathrm{.}3$ After conducting further current and factual research, identify two of three of the

following risks relating to diversifying into vegan foods:

$3\mathrm{.}3\mathrm{.}1$ Economic risks

$3\mathrm{.}3\mathrm{.}2$ Competitor risks

$3\mathrm{.}3\mathrm{.}3$ Supplier risk