Question: risk identification process 1 . Risk 1 : Food Safety and QualityFIRM Classification: Operational Risk Item Safety Root Cause Analysis:Why 1 : Why is there
risk identification process Risk : Food Safety and QualityFIRM Classification: Operational Risk Item Safety Root Cause Analysis:Why : Why is there a hazard of food safety and quality issues?Why : Why is there a need of legitimate preparing and adherence to food safety protocols?Why : Why are the preparing programs and supervision inadequate? Why : Why are assets inadequately for preparing and supervision?Why: Why is the budget allotment limited for preparing and supervision activities?Mitigation Measures: Create and implement comprehensive preparing programs on food safety and quality for all employees.. Risk : Supply Chain DisruptionsFIRM Classification: External Risk Root Cause Analysis:Why : Why are there potential supply chain disruptions?Why : Why are we dependent on a limited number of suppliers?Why : Why is there a need of broadening in the provider base?Why : Why are there constrained efforts to identify and onboard alternative suppliers?Why : Why are there deficiently assets and time apportioned for supplier evaluation and onboarding?Mitigation Measures:Create a technique to differentiate the provider base and set up connections with elective suppliers. Risk : Changing Customer Preferences and TrendsFIRM Classification: Strategic Risk Market DemandRoot Cause Analysis:Why : Why is there a risk of not adjusting to changing customer preferences?Why : Why is there constrained market investigating and understanding of shopper trends?Why : Why is there deficiently speculation in market investigate activities?Why : Why is the budget assignment constrained for showcase research?Why : Why is there a need of mindfulness approximately the significance of remaining upgraded on buyer preferences?Mitigation Measures: Increment investment in market research to assemble bits of knowledge on changing customer preferences. Set up a committed advertise inquire about group or outsource showcase investigate activities. Risk : Administrative ComplianceFIRM Classification: Compliance Risk Legal and Regulatory Root Cause Analysis:Why : Why is there a risk of noncompliance with food regulations?Why : Why is there lacking information and understanding of administrative requirements?Why : Why are there constrained preparing and awareness programs on nourishment regulations? Why : Why are there inadequately assets allocated for preparing and awareness initiatives?Why : Why is there a need of prioritization and awareness almost the potential results of noncompliance?Mitigation Measures: Create comprehensive preparing programs on food directions for employees at all levels. Allocate assets for customary preparing and mindfulness activities on administrative compliance.
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