Risk Management - Hospitality Industry Essay Example | Topics and Well Written Essays - 3000 words

Risk Management - hospitality Industry - Essay ExampleEvery occupation entity when initiated will have transmittable risk in them as it has to reach the costumers expectations and has to place itself in a competitive environment or it has to create a market demand to its new product to be launched. With out perceiving the risk of venturing into new market arnas the plan of making profitability does not arise. All organizations will face some kind of risk proportions in their daily activities of their operations as the sectors demands a standard or particular norms and expectations to be met. The risk is inherited with the unexplored option which may turn in to organization benefit or it may founder depicting that the perceptions were wrong. The common risk concerns areas are Hazard risk it is related to sudden incidents like eruption eruption, natural calamities. Financial risk the financial risks deal with the uncertainty of the economic viability of industry. Operational risk is associated with unhomogeneous factors which has a significant role in the processes, methodologies adapted in the running the company. Strategic risk eludes more or less the accuracy of the strategy implemented and explains ho far the methods adopted were proper to the company growth at bottom the market.... officials failed in analyzing the sources. The south Indian region has more cocoa consumers when compared to North. The Company did not expandsharp into the north India where there was more corporate culture incities like Delhi and Mumbai. In a deny of six years from 1996 to 2002 itwas able to open only 50 outlets major of them in south India metros citiesand a few in north India parts like Pune.The lack of aggressive marketing of the cafe coffee day brand stick outedother competitors to captivate on the demand created by CCD .There is aninability to choose refine market. The south Indian market has alreadysome active voice players in the coffee shops, as coffee used to be consumed morein South India. Caf coffee day choose to compete in existing market andconfined itself to southern region.The negligence of the north Indian market where there are many industriallydeveloped areas like New Delhi, Mumbai gurgoan, Noida, Pune and theconsumers who are willing to accept the trendy air of the caf coffeeday was untapped for a long time. In a booming market a new entrant takingsuch a long time will certainly allow the competitors to cash the opportunitywhich the other coffee shops like the barista and qwikys have done. TheCCD lacked professional expertise in the business expansion which can beobserved in time lag for five years, before the ratiocination to expansion hasbeen taken place. The workers doesnt know how to analyze the feasibility,how to locate the right market. CCD has entered into a market with otheractive players who already exists in the South Indian market. A companyhaving an ambitious plan to introduce a new product should do the necess aryMarket research which depicts theType of expected