Risk Management Plan For A Bakery Business Management Essay

Risk Management Plan For A Bakery Business Management Essay After Graduation I want to pursue my career as a Bakery Business Entrepreneur. Food is one of the basic essentials of life therefore a proper industrial bakery channel is likely to yield high profits. The business has great potential for expansion as by starting off with a small industry I can make retail and wholesale stores. How dubious the economic situation may be this business generally keeps on moving if quality standards are maintained. My bakery will offer all sorts of breads, muffins, pastries, cakes etc. with special attention for catering to the needs of gluten allergy sufferers. Before starting my own business Ill survey present bakeries operating in the country, analyze the success rate of the most valued existing franchises and then hire professional bakers on the basis of merit. Risk Management Plan: A successful risk management initiative should be proportionate to the level of risk in the organization (as related to the size, nature and complexity of the organization), aligned with other corporate activities, comprehensive in its scope, embedded into routine activities and dynamic by being responsive to changing circumstances (IRM, 2010). Following is the brief description of risk management plan that Ill adopt once my business swings into action. My plan will begin with the process of risk assessment that aims to make employers more apt for taking the right action in terms of improving workplace production, safety, health, etc. therefore let us discuss the major risks associated with the development of a baking industry. Property Risks that could arise from ownership or renting: Normally all entrepreneurs suffer three kinds of losses: the property loss which could be direct or indirect, the liability loss and income loss concerned with employees unforeseen predicaments. Direct property loss may occur due to calamities like fire, thunderstorm, theft etc. In bakeries equipment and surroundings is often at risk of catching fire. In case of catastrophe, specialized waste management firms might be contacted to clear the debris and the firm would have to continue daily activities in a temporary accommodation. Companys statistical records would be saved elsewhere to avoid major losses. Indirect property losses may result in renovation of the damaged property e.g. the factory in baked items are made, paying transport vans rentals after the vehicle was stolen etc. In order to avoid such issues my businesss property would be properly insured so that any loss from unforeseen events could be compensated. An insurance agent will provide checklists to help identify total property loss. All information regarding site ownership and purchased price documents would be kept handy (Dorfman, 1998, p. 68). Liability Risks: Liability insurance is one of the most important steps while launching a business that is often overlooked. Product liability occurs when a firms products allegedly injure the public. Environmental impairment liability arises from violating federal or state statutes designed to protect the environment, or from lawsuits from parties claiming injury caused by a firms improper handling of toxic substances(Dorfman, 1998, p.51). As the chief owner my business will include employers liability, public liability, stock, building, vans and money insurance. Product liability and other quality related issues will require the services of an attorney to make sure that the procedures are standardized, this will surely put up extra cost but it is worth all the effort as a little mistake is likely to destabilize business. Proper insurance of the bakery business is essential. To get my bakery franchise legalized, Ill have to abide by government regulations like obtaining a bakery license regulated by the state. E.g. In California Bakery Licences are issued by the Department of Alcoholic Beverages. In order to avoid any risks Ill obtain a business license LLC and a Tax i.d. number. A Foot Handler permit would be needed by employees of the bakery. Another essential step is the hygiene factor. From raw material till the transportation of bakery items special care is needed. For food safety management, government has launched specific standards like the Food Legislation (Local and EU legislation), GMP that stands for Good Manufacturing Practices, Good Hygiene Practices (GHP). The quality of bakery items should be in accordance with the Quality management international system like the ISO 9001, ISO 22000, BRC and others (Ehavald, 2009). Auto Risks: Auto insurance compensates the financial losses if the vehicle undergoes an accident while in business use e.g. while transporting of bakery products. My bakery business would be auto risk insured before hand. Insurance company will provide property, medical and liability finance in case of auto risk occurrence. Property financing would be given in case the transport vehicle is stolen by theft. Liability coverage compensates the damage done to others as a legal responsibility. Medical expenses will be paid for the funeral, lost salary or injury treatments of employees who suffered in the accident. The agreement with the insurance company includes specified regular payments made by the employer (Dorfman, 1998, p.272). OSHA concerns: OSHA (Occupational Safety and Health Act) is a federal law brought into action in 1970. Its main aim was to ensure a safe working environment for the employees. OSHA creates two duties for employers. One is to remove all recognized hazards from the work environment. The second is to comply with the standards for a safe working environment as published in the Bulletin from The Department of Labor(Dorfman, 1998, p.272). OSHA inspectors take on-site reviews and in case of violation heavy fines are charged to the employer. In order to manage this risk my business manager will keep a detailed record of any occupational hazards that resulted in severe injury or death of an employ. Lessons will be learnt to avoid future incidents. For new workers training will be provided for using potential risk equipment with care like sharp knives and electrical machinery. Harassment Issues: Harassment encompasses hostile work environment or sexual harassment. US Department of Labor revealed that over 16,000 cases of harassment are reported each year. Claims can be created by men, women, co-workers, managers, customers, owners, vendors and others(Dorfman, 1998, p.126). My business will be an equal opportunity for both genders. Any kind of harassment reported to the authorities would be dealt with severe penalties for future concerns. In every department whether its sales or production, women will be allowed to work on the basis of merit. Age Discrimination: The Age Discrimination in Employment Act of 1967 (ADEA) protects certain applicants and employees 40 years of age and older from discrimination on the basis of age in hiring, promotion, discharge, compensation, or terms, conditions or privileges of employment. The ADEA is enforced by the  Equal Employment Opportunity Commission (EEOC) (Solis, Hilda L, 2010). Civil Rights Act of 1964  prohibits discrimination in hiring, promotion, discharge, pay, fringe benefits, job training, classification, referral, and other aspects of employment, on the basis of race, color, religion, sex or national origin. This law is also implemented by the  Equal Employment Opportunity Commission (EEOC) (Solis, Hilda L, 2010). Keeping in view the existing laws, retirement age in my business firm would be sixty. Young skilled employees will be welcomed to join the team. Discrimination due to disability: Title I of the Americans with Disabilities Act (ADA) prohibits employers of 15 or more workers, employment agencies, and labor organizations of 15 or more workers from discriminating against qualified individuals with disabilities (Solis, Hilda L, 2010). Group Disability Income Insurance: Compensation is to be granted if an employee is disabled by a work related accident. Although workers compensation benefits are rarely adequate, they do ensure economic security for the workers family (Dorfman, 1998, p.501). Long term disability benefits will be insured and remain applicable until a specified age of 60. As Title II of the Americans with Disabilities Act (ADA) prohibits state and local governments from discriminating against qualified individuals with disabilities in programs, activities, and services therefore employees with mobility or speech impairments could be adjusted in dealing with the technological affairs like managing websites or dealing with the customers on telephone. The report on European Agency for safety at work states that the physical working environment should suit the employees with disabilities. In addition to the above mentioned OSH Legislations my working conditions would take into account that flooring, stairways should be slip resistant. Ergonomic Principles will be kept in mind while designing the business firm (Amelie Buffet Marie Priha Eero, 2009, p.24). Employer/Employee Issue: Keeping in mind the importance of human capital, my business will involve a well organized workforce. Suggestions would be accepted from the workers regarding quality improvement and managing teamwork. All employees must be trained yearly. Work shops or seminars would be arranged from time to time to keep the bakery updated with the latest technology for baking. Benefits for the Personnel: The personnel policies of the firm would be made keeping in mind the state laws governing in the present scenario. Health insurance would be provided to all workers as part of the employee benefit plan. A baker working by the hour can make anywhere from $8 to $14 per hour on average with an annual salary ranging from $15,000 to $20,000 each year. A baker can require higher pay depending on education, experience and geographical location (Ehavald, 2009). Before my bakery will set into operation, Ill be having six months period of operating costs setback. During that time due to sudden immense expenditure being spent on security deposits and construction, advertising, permits and licenses as well as startup inventory I might not be able to give extra facilities to my employees but after that trial period, once the business is off and running, all remuneration issues will be finalized to keep my employees motivated. How to handle personal issues: Employment practices liability describes the loss potential arising from lawsuits from employees alleging wrongful hiring, promotion, demotion, termination and sexual harassment (Dorfman, 1998, p.51). Hiring an Employee: My business firm will gather in advance as much information about the applicants as possible in order to reduce the risk of negligent hiring. Federal and state anti discrimination laws will be kept in mind during the hiring process. After selecting an employee through proper channel of employment applications he would be assigned work tasks within the firm. Terminating an Employee: It may happen that the selected employee does not come up to the companys expectations. Liabilities involved in terminating an employee might mean invading the companys privacy, reputational risks are also involved. Therefore performance appraisals during job hours and an exit evaluation form offered by the firm would answer the reason for termination of the employee that would be in accordance to the current state laws to avoid any hindrance in the business flow (Amelie Buffet Marie Priha Eero, 2009). Dealing with Fraud: The firm will have a clear contingency plan for fraud. The responsible employee would be held accountable to compensate his misconduct or in severe case he might even be expelled from the job (Sadgrove, 2005, p.266). External reporting to stake holders: External reporting should provide useful information to stakeholders on the status of risk management and the actions that are being taken to ensure continuous improvement in performance. Firms need to report to its stakeholders on a regular basis, setting out its risk management policies and the effectiveness in achieving its objectives. Increasingly, stakeholders look to organisations to provide evidence of appropriate corporate behaviour in such areas as community affairs, human rights, employment practices, health and safety, and the environment(IRM, 2010). Identifying the risks factors beforehand will help to prevent crisis. The business firm will develop polices to handle risk situations and managers will be appointed in each department to monitor the major risk areas. Quality would be a major detriment in the success of my firm. I hope that once this risk management plan is activated risk losses will reduce to a minimum and profitability is forecasted to occur within a couple of months. Work cited: Amelie Buffet Marie Priha Eero(2009) Workforce Diversity and Risk Assessment: Ensuring everyone is covered. Retrieved at: http://osha.europa.eu/en/publications/reports/TE7809894ENC Dorfman Mark S(1998).Introduction to Risk Management and Insurance 6th Edition. Prentice Hall. Ehavald Helen (2009) Food Safety Risk Management In Bakeries. 3rd SaFoodnet seminar. Retrieved at: http://newananas.vtt.fi/virtual/safoodnet/tallinn/15ehavald.pdf. Sadgrove Kit (2005) The complete guide to business risk management 2nd edition. Gower Publishing.Ltd. Solis Hilda L (2010).United States Department of Labour. Retrieved at: http://www.dol.gov/dol/topic/discrimination/agedisc.htm. A structured approach to enterprise risk management (ERM) and the requirements of ISO 31000 (2010). Retrieved at: http://www.theirm.org/documents/SARM_FINAL.pdf. How to start a bakery business. Insights to getting started (2010). Retrieved at: http://www.atouchofbusiness.com/tips/ideas/BakeryBusiness-0015.html

Manage Own Performance in Business Environment Essay

1.1Outline ‘guidelines, procedures and codes of practice relevant to personal work. There are procedures that need to be followed relating to various aspects of the job including correct procedures to greet visitors, answer the telephone, dealing with incoming and outgoing mail, taking minutes for team meetings as well as other procedures. 1.2Explain the purpose of planning work and being accountable to others for own work The purpose of planning before attempting any work is to create a realistic time frame in which you wish to complete the work to a good/high standard and if you’re an employee, the employer has a right to check if work is up to standard 1.3Explain the purpose and benefits of agreeing realistic targets for work The purpose for agreeing realistic targets for work is to keep everyone on task and focused on accomplishing a target that is obtainable, not out of reach. This way, everyone can work towards effectively reaching targets efficiently instead of struggling to achieve the impossible. The benefits include fast and reliable compliance and completion of tasks at hand 1.4Explain how to agree realistic targets When speaking to a senior employee you will gain respect by being straight about how much you can do. If you set too easy a target for yourself you won’t be pushed to improve yourself and it will be clear to your senior employee or your employer. If you make it impossible to reach they will be unimpressed by your inability to work out how long you need and missing the deadline 1.5Describe ways of planning work to meet agreed deadlines First you need to prioritize your work. That is, place the most important job at the top; the least, at the bottom. When judging priorities, you need to do several things: firstly you need to determine what is required in the given task. This is the number of jobs that need to be done. Second you need to figure out what is required. If you’re doing something that’s not necessary, eliminate it. If you’re doing something that’s necessary but is not required of you personally, you need to delegate it. And lastly if someone can do a certain job better than anyone else, delegate the job to that person . 1.6Explain the purpose of keeping other people informed about progress The reason why you keep colleagues up to date with progression is so that they know what targets to achieve and whether or not they can meet the deadline on time also it helps to outline and set objectives. If you’re behind on a piece of work it is also helpful for colleagues to know progression so they could pick up the slack 1.7Explain the purpose and benefits of letting other people know when work plans need to be changed It respects people’s time and allows people to be prepared for work, mentally and physically. It is respectful of the other person’s time to give them a good idea of what and how you want them to do the task and when they need to start. If these plans change, respect demands that you inform others involved of the changes to these plans 1.8Describe types of problems that may occur during work There are many different types and severities of problems that you come across in your working life for example bullying, disgruntled workers and harassment are some of the major examples. But problems such as the printer running out of toner, work not saving properly and power cuts are less severe but can also cause workplace stress. 1.9Describe ways of seeking assistance with getting help to resolve problems Any technical fault that involves your computer you should report this to your computer technician if your company has one. Government and large companies mainly have a team of technicians to help different problems out. However if the problem is more severe i.e. harassment, then you should report to your superiors and tackle the problem professionally. 1.10Explain the purpose and benefits of recognising and learning from mistakes The main purpose of recognising mistakes is to learn from them and to try and prevent them from happening again therefore the next time a situation arises you will have the knowledge of the previous times to prevent you making the incorrect decision and therefore being successful. The benefits of learning from mistakes are obviously you don’t make the same mistake time and time again and as a result of this you will be more successful at what you do. 2.1 Explain the purpose and benefits of agreeing and setting high standards for own work The purpose of agreeing and setting high standards for work assures that each person tries their hardest and always reaches for new heights. By setting a high bar there is no room for excuses and the atmosphere in the workplace becomes excellent behavior and work gets completed with ease. Everyone benefits from setting high expectations for themselves. Everything can be done better, faster, and more efficiently. 2.2 Describe ways of setting high standards for work You can set yourself high standards of work by putting 100% effort into every task you take on. By putting through high standards of work every time, you and the others around you will continuously demand and expect high standards from you all the time. Also if you always try and find ways of how you can improve your work then you automatically raise the bar for yourself. 2.3 Explain the purpose and benefits of taking of taking on new challenges if they arise. The purpose of taking on new challenges w they arise is vital to success. By not challenging yourself, the same pattern of mediocrity or  self defeating attitude persists. You cannot grow without moving onto bigger, better, and more challenging tasks. The benefits therefore are then self growth opportunities and a gaining of new skills and confidence. Also in the workplace it is especially important to take on new challenges as it shows to your employer that you are capable and willing to new things. 2.4 Explain the purpose and benefits of adapting to change The purpose of adapting to change technically is so you don’t get left behind and this is same in business, if you fail to adapt to any sort of change then you won’t be successful completing the task when the time comes. The main benefit of adapting to change

Answering questions

2-A. Recently, a comedian on a television show remarked that he thought it was funny that people turn the car radio off when they are looking for a house number in a strange neighborhood. What theory of attention is this comedian adhering to? The comedian based his remarks on the theory of divided attention. This theory states that attention can be divided into two separate states, wherein one can attend to two things or stimuli at the same time, without sacrificing the quality of attention given to either of the two stimuli (Reisberg, 2001). Thus to the comedian, one can continue listening to the radio and at the same time look for the house number, and it perfectly makes sense to him that a person can do both of it since it does not really require an intense concentration. However, a case in point is that looking for a house number in a long row of houses may be quite a challenging task, one that requires concentration and selective attention. Yes, it can be said that keeping the radio on would not make any difference but to those who prefer to look closely and to be able to do so safely would naturally turn their radios off. Just imagine yourself driving slowly in a street you are unfamiliar with and keeping the radio on would mask the noise of incoming traffic or even pedestrians. Besides, when a person is involved in one task, like looking for a house, then one instinctively attends to it and disregards the other sounds, sights and disturbances in the immediate environment. Divided attention is very real, we engage it once in a while especially if we multi-task but we could do so in a limited period, for example think of how you can possibly manage to entertain questions from an officemate at your table and at the same time talk to someone on the phone, you could do both for a maximum of 2 minutes, but eventually one stimuli takes greater attention and we must give our full attention to it. On the other hand, with training, anybody can make use of divided attention, but its contributions and benefits in engaging in it remains to be seen since much research has to be done in this area. 2-B. Based on what you have learned about perception and attention, do you think it’s safe for people to talk on cellular phones while they are driving? Learning about how we perceive the world around us gives us a better way of understanding how intricate the human mind is and how even a faculty that we often take for granted can have a profound impact in our daily lives. Perception refers to a complex process of how we receive a stimuli, how our brain process the stimuli, and how our mind tells us what to do and how to react to the stimuli (Reisberg, 2001). It can be said that a disruption of any of the lines of our perception may have adverse consequences; sometimes it can be bizarre, like when a person cannot recognize the face of love one but instead are able to say that they look like a family member. Taking our study of perception into our daily activities, a debated issue like â€Å"is it safe to talk on the cell phone while driving† is better explained. I still believe that it is not safe to talk on the cellular phones while driving. Driving already entails a number of processes and is quite demanding of our attention, like when you are in the freeway, one has to be conscious of incoming traffic, cars at you back, the speed limit of the highway, and even looking out for possible mishaps in the road, on top of which, the driver must be conscious of the cars fuel level, brake fluid and tire conditions. So how could anybody be able to talk on the phone while driving? Talking on the phone also demands attention; we have to perceive and process what the other person is saying, and to even think of the appropriate response to what they are saying. Theories on perception have stated that our mind works overtime just to process and be able to respond to external stimuli, and that each part of the brain is involve in different ways just to come up with the correct processing of information (Reisberg, 2001), like being able to recognize faces of family members. Perceptual illusions demonstrate that what we see may not be true or real, hence while driving we may not be able to accurately tell how far we are from the car ahead of us or how near we are to the railings without our full concentration. Reports have shown that many people die on the road or in car accidents than any disease. Perceptual overload occurs when we drive and talk on the phone, based on previous researches (Reisberg, 2001), perceptual overload makes us incorrectly perceive our surroundings and hence we may see what is not there, or we may not see what is really there. When we overload our senses it would mean that one part of the brain or our faculties might be sacrificed to compensate for the attention we give to another stimulus. And in an activity like driving which in itself is a high-risk behavior, we need complete control of our faculties, thus talking on the cell phone is not advisable. 2-C. Write a 200 word summary and critical analysis on Rayner’s article. Discuss what the article is basically about, its strong and weak points, how convincing (or unconvincing) you find its arguments, and how it might be followed up (e.g., if you think the article suggests any promising, new ideas for future research, describe what they are and how they might best be pursued.) The article â€Å"Eye Movements in Reading: Recent Developments† by Keith Rayner (1993) presents the latest development in the study of eye movement in the reading process. The strength of the article is that it gives a background of what has been discovered so far in the field of study, the article argues that studying eye movement is important for it help build theory and also used to infer perceptual and cognitive processes during reading thus the objective of the article. It also presents a number of theories that have used new methods in studying eye movement. What was weak about the article was that it was not able to connect how the new methods of studying would contrite to a better understanding of the cognitive processes that occur during reading. The article basically was not convincing when the author says that much remains to be seen when researchers realize how interesting a research data eye movement can be. The article does not arouse this interest and simply goes on to say that eye movement is a natural consequence of reading, which contradicts his claims earlier in the introduction part. The article was also too technical for the average reader even if the reader is interested in eye movement. References Rayner, K. (1993). Eye movements in reading: Recent developments. Current Directions in Psychological Science, 2 (3): 81-85 Reisberg, D. (2001). Cognition: Exploring the science of the Mind, 2nd ed. New York: W.W. Norton & Company, Inc.                  

Definition And Limitations Of Serial Digital Interface

Table of Contents 1. Introduction 1 1.1 Orientation 1 1.2 Problem Statement 1 1.3 Definitions and Limitations 1 2. Analysis and specification 2 2.1 Initial condition 2 2.2. Requirement Map 4 2.3. Requirement specification 5 2.3.1 User, Application, Device and Network 5 2.3.2 Network and Delay Metrics 7 2.3.3 Capacity Metrics 8 2.4Flow Analysis 9 3. Reference Architecture 10 1. Introduction 1.1 Orientation Serial digital interface (SDI) is a good mechanism standardized by SMTP (The Society of Motion Picture and Television Engineers) which is used for digital video interfaces. The data in this method is transferring using coaxial cable. This study case is to produce Channel 4 which is one of the Australian free to air television†¦show more content†¦1.3 Definitions and Limitations This design should increase operational efficiency and overall profitability based on return on investment (ROE) calculations. Limitation could be in:- -estimating and gathering more information about the existing network and applications -The cost required to update the existing network to IP network. -Applying mechanism to ensure that the service level agreement is met. 2. Analysis and specification 2.1 Initial condition Channel 4 has two studios located in Sydney and Melbourne and four free to air television channels (channel4, C4forKids, WOW and QTV). In addition, channel 4 has three types of video contents:- InProd content is edited by Channel 4 and finished product is sent as SDI streams to be stored in the digital media center, via Studio Router. ExProd content is provided to Channel4 on solid state media as a digitized video file. These files are stored in the Digital Media center until required. Live Video Feed is live news and programs to broadcast directly to Australia. The existing Studio Router takes SDI/ASI input and assign it to many outputs such as MPEG Encoder, Video output, Satellite Uplink or Digital Video Network (DVN) to Media Hub. There are three DVN that transfer MPEG Encoded videos either from Digital Media Center or live Video from a News Studio to the Media Hub (Figure 1). Figure 1 The current Broadcast Network is duplicated in Sydney and