Edward's EcoCraft is a small business located in George, South Africa. They specialise in bespoke, handcrafted, sustainable furniture made from locally sourced materials. Edward's EcoCraft has built a reputation for quality and environmental responsibility. The owner, Edward, employs a team of five skilled artisans. He is considering expansion opportunities and diversifying the product line. Edward's EcoCraft has received attention for its unique and environmentally friendly designs, prompting inquiries from larger retailers and international distributors. The owner is now contemplating scaling up production and entering into partnerships to expand his reach without compromising their commitment to sustainability.
1. Introduction
2.1 discuss 4 fundemental principles of enterprise risk management :• risk identification,•risk evaluation,•risk control and •risk monitoring in relation to Edward's EcoCraft
2.2 apply the key drivers to to changes : Technology, and intangible assets that require an intergrated approach to the management of risk in relation to Edward's EcoCraft
3.1 apply outcomes and environmental factors as elements of risk to Edward's EcoCraft
3.2 .1 Identify a possible competitor risk that Edward’s Eco Craftmight face.Clearly
explain the risk and the possible impact that this risk might have on Edward’s EcoCraft.
Examples can include actual research on current competitors in South Africa.
3.2.2 Identify a possible supplier risk that Edward’s EcoCraf tmight face.Clearly explain the risk and the possible impact that this risk might have on Edward’s EcoCraft.
3.2.3 identify a possible economic risk that Edward's EcoCraft might face and the possible impact that the this risk might have on Edward's EcoCraft examples can include actual research on the current economic climate in South Afr
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