Background The MacVille Board has reviewed the previous report and has requested further information for four of the identified risks, including options for reducing the risk levels. These risks are...

Background
The MacVille Board has reviewed the previous report and has requested further information for four of the identified risks, including options for reducing the risk levels. These risks are as follows:
    
1. Banking Risk
One of the major risks faced by the New Toowoomba store (the existing Hurley’s Café), is the banking risk. The existing café is under the ownership of Hurley family, which makes it prefer a single bank for all its family as well as business transactions. In the given scenario, the earned money and generated cash is banked in the family preferred bank, which is far from the store, requiring a person a considerable amount of time to reach, deposit and return back to the store, which generates a considerably long period of vulnerability, in which the money can be stolen by thieves. As stated by Ansari (2019), keeping the money of a business in nearby banks is a safer strategy than to deposit it in a faraway bank, requiring longer time for travelling. Considering the fact that Hurley’s Café is a place, where the roads are very risky and there is a lot of traffic involved the tracing as well as chasing of the thieves, after the theft will be difficult. The given scenario also brought into focus the fact that at Hurley’s Café, the cash was not banked regularly and the banking tasks were often delayed and skipped, which increased the risk of theft even more. As supported by Tam and Oliveira (2019), the more the cash is accumulated together the higher risk of theft would develop, as the thieves consider the higher cash as lucrative and worth taking the risk.
In order to reduce the concerned banking risk from theft, a major change in the banking policy of the café has to be undertaken and implemented. Considering the location, in which the café is located, a nearby bank, only a few minutes’ walk from the café has to be selected as the preferred bank for all the commercial actions of the company, for its would be much more convenient and safer for the Hurley employees to deposit the money to the bank with lesser time consumed and lower chances of theft, as the thieves would not consider taking risk of doing any criminal activity in locality, for he high change of getting caught or observed by witnesses. As mentioned by Khasawneh et al. (2018), selecting a bank located near the place of business, reduces the risk of making cash vulnerable to theft and it is more significant for business organisations as they generate higher cash.
2.Manager’s Travel Risk
The managers travelling from Brisbane to Toowoomba on a very frequent basis would become a major concern for MacVille, in case, it starts operating at Hurley’s Café, as its latest outlet for business expansion. The roads from Brisbane to Toowoomba is very narrow and steep climb for two hours will heavy traffic has increased the chances of meeting with an accident very high. As opined by Sam et al. (2019), narrow roadways, laid out in the mountains, requiring moderate degree of climb, is not something a regular driver or rider is accustomed to, therefore, the chances of accidents in such road conditions are always high. Given the importance, managers will develop, for MacVille’s business expansion and proper execution of the newly acquired store; it is assumable that managers would have to travel on alternative days or regularly, reaching in time, requiring consistently proper driving through the roads, which would impose risk of accident-lead physical injuries. The timing of the mangers would also require them to face the ongoing traffic on the road, which would also turn out to a major issue. As affirmed by Pantea et al. (2018), traffic on the road increase chances of accidents, as too many vehicle on road, reduces the margin of error.
In order to reduce the risk of the managers getting involved with an accident and receiving physical injury, the management of MacVille can arrange temporary staying facilities for its managers, given the fact that the managers agree to the offers. Making the managers stay at Toowoomba, and returning to home on the weekends, would mean that the travelling frequencies of the manager would decline and along with it, the scope of meeting with accidents on road. Alternatively, MacVille’s management can also offer the manager to use his or her personal vehicle, for better control on road and lesser chances of meeting with accidents. As supported by Geldenhuys (2018), as owners ride their vehicles better as they spend more time with their own vehicle that those provided for transport by employing companies. In the given scenario, the roads are found to be very risky at night for the steep climb the vehicles must endure, with narrow sides, while on the other hand, the daytimes, prove to be ineffective, as the daytime traffic remains bad, therefore, allowing he managers to select flexible timing for their arrival at the Café could reduce the risk of on road accidents and physical injuries of the manager.
3. By-Law Compliance Risk
The takeover of the Hurley café at Toowoomba faces very high risk of being entangled in by-law compliances and their evident breaching at the store. In the given scenario, it is found that the café was using 14,500 litres of water per week for its daily affairs, most of which are or will be beyond preferred norms and standards. The used water comes from the local council and is about to bring in legal norms, which would give the council the authority to fine water usage breaches, up to $50,000. As noted by Melo et al. (2018), considering the rapid environmental degradation, legal frameworks are incorporating the use of natural resources, especially water, which is among the most wasted resource on the planet and therefore, business organisations are in sheer need of business remodelings and optimisation of its resource usage patterns. The dishwashers are seen used at their full intensity, while the number of utensils being only half of capacity, wasting precious water. On the other hand, the toilets have single flush, which also wastes ample amount of water. In addition, the flowers in the garden are also directed to be watered al time, which increases the inevitability of legal breach of water conservation norms, leading to by-law compliance risk. Another major issue with the by-law compliance is the lack of written documents and conditions of employer-employee relationships and responsibilities, which are agreed upon, mutually. The lack of legal employment document, as mentioned by Alvarado et al. (2018), gives the owners as well as the employees making exploitive usage of their position and squeeze out benefits or compensation on legal grounds. The employee retirement benefits are also not properly formatted and lack proper conditions, which makes the employees and their employers vulnerable to by-law compliance breach risk.
In order to avoid the water usage laws, that will be implemented soon, a tank of water can be used to store water and use it at will, can be a very effective strategy, as the by-law compliances are only eligible on the council provided water in the locality. In addition, the use of double flush instead of single flush, and the using latest dishwashers, which conserve energy and water, can also be included. In terms of avoiding the risk generated through the lack of written contracts for employment, company policies, mission and vision, as well as conditions for abiding legal compliances, written documents have to be developed and registered under the local government so that legal approval is collected.
4. Loss of Brand Recognition Risk
As MacVille is aiming to use the same facilities, staffs and management available at Hurley’s Café for it latest shop at Toowoomba, the risk of losing the brand recognition is a major risk that has a higher potential of occurring. In the given scenario, Hurley’s café is seen as a place for the retirees and seemed to develop its own reputation as a brand over the years. Transitioning the brand name from Hurley’s Café to MacVille, would make lasting impact of the minds of the regular customers and even give the impression of a new organisation, which would be devoid of the benefit of the brand recognition the company attained beforehand. The given scenario also makes it evident that many international companies are aiming at entering the locality, based on the observation of the increasing population of the place. In such as circumstance, losing out on the brand recognition would be disastrous for the company. Changing the name of the business would make it similar to any newly entered business in the...