• Part A: You are also required to identify the risks stated in the CEO’s letter and classify these identified risks into the four categories covered in Week 10.• Part B: You are required to prepare a...

RISK AND SUSTAINABILITY ASSESSMENT
Executive Summary
This report has focused to examine the risk assessment as well as sustainability for the given company named Tactical Group. In this report the classification of risks after identifying this and the environmental, social and economic sustainability has been discussed in this report as clearly as possible. In this report the given risks of the company Tactical group have been described properly in this report identifying and classification and justification of the risk portion.
Table of Contents
Introduction    3
Part A: Risk Assessment    3
Identification of the risks from the CEO’s letter    3
Classification and justification of the risks    4
Part B: Sustainability Report    6
A. Economic Sustainability    6
B. Environmental Sustainability    7
C. Social Sustainability    8
Conclusion    8
References    10
Introduction
The risk assessment and the sustainability of the Tactical group will be discussed in the report. Risk assessment is the identification of the risks and classifies the risks among the four major categories of the risks such as Avoidance, Retention, Reduction and Sharing. Sustainability is the development and maintenance that satisfies the need for economic development without depletion of environmental or natural resources. The risks of the Tactical group have been observed by David Partridge’s letter who is the CEO of the Tactical group. Tactical Group is a consulting firm and leads strategic advisory. They provide professional and independent consulting services (Tacticalgroup.com, 2021).
Part A: Risk Assessment
Identification of the risks from the CEO’s letter
The Tactical Industry group has faced some problems or risks last year. The risk assessment is the most vital thing for a company. Every company faces some risks but the identifying procedure of the risk is more difficult than the actions being taken for removing the risks (Tomislav, 2018, p. 70). The Tactical Company also faces problems during the risks and also identifying the risks. The simple procedure to identify these risks is to investigate the issues that are faced by any company like rumors, communicating problems etc. If they avoid these issues then they cannot identify the problems and face more problems day by day so they should select the problems first. The Tactical Group faced some rumors circulating around the media and the public. This happens for the first time in the company’s proud history. For this arising issue an investigation procedure is done by the company as a CEO. This investigation leads to identifying the first risk. The most serious matter for the Tactical group is the ongoing use of child labour in North Korea in manufacturing fields of their company by one of the suppliers.
The second risk occurs when the company terminates with the bad supplier and they are trying to find another supplier to do the job properly. It has been shown by Reznichenko et al. (2018, p. 71) that there was good news for the Tactical Industrial Group that they were able to find a local supplier who operated within their metropolitan area for the replacement of the supplier. Now the risk is the new supplier is not experienced and they also have no experience to do the job with the supplier so there can be some problems and risks. The company also does not know what type of material they provide that is good enough or not so the company worried about this.
The third issue was faced by the Tactical Group Australian Competition and Consumer Commission's investigation into the company’s recent marketing communications. During the investigation ACCC found that the Tactical Industry group had engaged in false and misleading conduct. This issue has occurred because of their false and old marketing policies and there are some people who mislead the company (Silvestre and Ţîrcă, 2019, p. 326). The ACCC issued an infringement notice to the Tactical Industrial Group and also issued a penalty of a large amount of $126000. This risk is the most challenging and it affects the reputation of the Tactical Group.
The last and fourth risk or issue of the Tactical Group was a significant fuel spill at their warehouse in Horsham, Victoria. The group is worried about the matter. The researchers Polasky et al. (2019, p. 5235) observed that approximately 15 kilolitres of this significant fuel from a rapture in one of the fuel tanks into the soil around its base. This spilled fuel soaked directly into the ground. It has become a more challenging task for them as an CEO of the Tactical Group. They were concerned about the matter and reachered and discussed the damage to the soil. Identifying and assessment of the risk and also solving the risks are the most preferable task to them for the reputation of the Tactical Group.
Classification and justification of the risks
The first risk which is described previously is one of the most challenging risks but knowing the problems the Tactical Group has taken a serious action. The company terminated their contract with the supplier who used the child labour for manufacturing and trying to get more profit because the supplier was a clear breach with the contract that was signed between the company and the supplier. This action is categorised in Reduction because the company optimises the risk and also mitigates the risk.
This second risk is categorised in Avoidance because the new supplier is very good and they do their job perfectly and the Tactical Group does nothing to...