Aaron is a young entrepreneur. He saw a business opportunity in making and delivering homecooked meals. His business is called Made For You. Initially, his target market was only students. However, his business grew quickly, and he secured a contract to provide daily meals for several retirement villages. Initially, he ran his business from his kitchen, but now he is leasing a property in the industrial area. The property consists of an industrial kitchen, a large storage room and a small office. He also owns a delivery vehicle. Aaron is in charge of all the administration and has employed four cooks and one driver.Aaron was so focused on operations that he did not focus on risk management. He has now realised the importance of risk management, and he has come to you with some questions. The key drivers to changes that require an integrated approach to the management of risks are globalisation; corporate governance; technology; and intangible assets. Briefly explain each of the following key drivers to Aaron. Support your answer by applying this to Made For You. Q.1.1 Technology Q.1.2 Globalisation
Aaron is a young entrepreneur. He saw a business opportunity in making and delivering homecooked meals. His business is called Made For You. Initially, his target market was only students. However, his business grew quickly, and he secured a contract to provide daily meals for several retirement villages. Initially, he ran his business from his kitchen, but now he is leasing a property in the industrial area. The property consists of an industrial kitchen, a large storage room and a small office. He also owns a delivery vehicle. Aaron is in charge of all the administration and has employed four cooks and one driver.Aaron was so focused on operations that he did not focus on risk management. He has now realised the importance of risk management, and he has come to you with some questions.
The key drivers to changes that require an integrated approach to the management of risks are globalisation; corporate governance; technology; and intangible assets. Briefly explain each of the following key drivers to Aaron. Support your answer by applying this to Made For You.
Q.1.1 Technology
Q.1.2 Globalisation
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