15 Feb Borrow Furniture Company (BFC) is a medium-sized chain of retail and wholesale furniture stores in the UK. Mr Collins is the area risk manager of BFC and his duty is to identify, a
Case study: Unit 1 Risk and Risk Management
Borrow Furniture Company (BFC) is a medium-sized chain of retail and wholesale furniture stores in the UK. Mr Collins is the area risk manager of BFC and his duty is to identify, assess, and manage the potential risks that may adversely affect the sales, safety, security, and financial health of the organisation.
It is widely accepted that an organisation should define and identify all types of risk that an organisation faces, set the amount of uncertainty that an organisation is willing to take, implement effective risk control measures to reduce the impact on risk, and transfer unwanted risks to limit loss exposure.
1. What effect does risk have on BFC’s business operation?
2. Identify and discuss the main risks that the organisation faces.
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