Risk management (Case Study: Develop a risk management system for a furnishing company)

Essay by ThuyhangCollege, UndergraduateA, August 2006

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When managing a business, hazards and threats, which will become risks and cause losses or damages to businesses, are always what business person care. Resulting damage of hazards and threats, which became risks, could be to the health and safety of employees, to plant, equipment or an entire installation, to the environment, to products, or to financial assets (Waring, 2001).

For those effects of risks to business, this report suggests you ways to avoid/transfer; reduce/control or treat them in case they happen to your business. The report completed upon the guidance of Mr Dennis, Master of Marketing.


The report is about the proposed procedure for risks management for Fifeshire Furnishings Corporation. Also are there some risks management concepts to help the reader understand clearly about the importance of risks management to a business.



Fifeshire Furnishings Corporation established in the Australian furniture wholesale market.

It began manufacturing fine upholstered furniture in 1958 (SGA847 Management of Risk, Learning Unit Profile, Case Study 6).

* Managing Director: Max Rayner (founder)

* Manufacturing Manager: John Misser

* Employees: This company has fine craftmen in Australia. Many of these craftmen have been with the company for more than a quarter century.

* Supplier: They often import raw material for products from one supplier in United States.

* Market segment: Australia. Recently, they decided to expand their business overseas.


* For more than 43 years, Fifeshire Furnishings has been built superior furniture possessing the elements of luxury, quality, and style.

* They have developed a distinctive collection of timeless upholstery and fine leather furniture.

* All Fifeshire Furnishings fabric and leather selections reflect a commitment to uncompromising excellence today and in the future.

(SGA847 Management of Risk, Learning Unit Profile, Case...