Risk and mitigation for a restaurant
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Risk is about creating value while addressing risks in various forms. I need to address the following in three pages
•Identify a business of your choice and structure the risks associated with tactical, strategic and emerging elements of risks.
•Identify how these risks might be mitigated.
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Solution Summary
A list of possible risks under each category and the ways to mitigate those risks.
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The business is Coquina Beach restaurant.
Tactical risks: One is to know how satisfied customers are and what are the things they do not like. A card with customer satisfaction questions are one way to find out. However, finding measurable ways to assess customer satisfaction is a problem. If the card is on the table when customers eat, then they might overlook it or not be prepared to fill it out while eating or after finishing their meal. This is especially true when one looks at the type of meal it is, the time of day, who are the companions for the meal, and other such personal considerations. As a risk, making sure people are voicing both good and bad opinions is to present the evaluation in other formats such as within a social media site or in an online survey format with the information about accessing the site on the receipt. This helps customers because there are alternatives to stopping their day or evening to fill out a form. It also helps the restaurant with more data and clarifies better the issues and the outcomes that are customer dependent.
The restaurant also wants to make sure it has what is necessary on hand to make sure every customer gets the meal they order. This means finding ways to handle both long and short supply needs. Nothing is more frustrating to customers and owners alike ...
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