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Retail Shop Risk Management Plan

The document outlines a risk management plan for a small retail shop that provides everyday products to the community. It identifies various risks such as theft, inventory mismanagement, and natural disasters, along with their likelihood, impact, and mitigation strategies. The shop aims to ensure customer safety and maintain operational efficiency while striving to be a trusted neighborhood store.

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James Cañada Gato
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384 views2 pages

Retail Shop Risk Management Plan

The document outlines a risk management plan for a small retail shop that provides everyday products to the community. It identifies various risks such as theft, inventory mismanagement, and natural disasters, along with their likelihood, impact, and mitigation strategies. The shop aims to ensure customer safety and maintain operational efficiency while striving to be a trusted neighborhood store.

Uploaded by

James Cañada Gato
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Retail Shop Risk Management Plan

1. Business Information
( Business name) is a small retail shop that offers a wide range of everyday products such as
snacks, beverages, household goods, hygiene items, and other general merchandise. Located
in a high-foot-traffic area, the shop aims to provide convenience, quality, and affordability
for local residents. It operates daily and caters to walk-in customers from the community.

2. Mission Statement
"To provide our community with easy access to everyday essentials by offering quality
products at affordable prices in a clean, friendly, and convenient environment."

3. Vision Statement
"To become the go-to neighborhood store recognized for excellent customer service,
reliability, and community trust."

4. Risk Identification
 - Theft and Shoplifting - Loss of products due to internal or external theft.
 - Inventory Mismanagement - Overstocking, understocking, or expired items leading to
financial losses.
 - Supplier Issues - Delay or unavailability of supplies affecting store operations.
 - Natural Disasters - Typhoons, earthquakes, or flooding damaging property or
inventory.
 - Power Outage - Interrupts operations, especially if using POS systems or refrigeration.
 - Economic Downturn - Reduced customer spending affects sales and profitability.
 - Fire Hazard - Fire incidents leading to major property damage and losses.
 - Customer Injury on Site - Slip and fall accidents leading to liability claims.
 - Health/Sanitation Non-Compliance - Fines or closure due to failure in following health
protocols.

5. Risk Matrix
Risk Likelihood Impact Risk Level Mitigation
Theft and High (4) Medium (3) 12 (High) Install CCTV,
Shoplifting hire reliable
staff, use anti-
theft systems.
Inventory Medium (3) Medium (3) 9 (Medium) Use inventory
Mismanagement tracking system
and conduct
regular audits.
Supplier Issues Medium (3) Medium (3) 9 (Medium) Have backup
suppliers and
maintain
minimum stock
levels.
Natural Disasters Low (2) High (4) 8 (Medium) Get insurance
and secure
emergency
backup plans.
Power Outage Medium (3) Medium (3) 9 (Medium) Use generators
or power banks
for essential
operations.
Economic Medium (3) High (4) 12 (High) Offer
Downturn promotions,
loyalty
programs, and
cost control.
Fire Hazard Low (2) High (5) 10 (Medium) Install fire
extinguishers,
conduct safety
training.
Customer Injury Low (2) Medium (3) 6 (Low) Keep floors
on Site clean/dry and
post warning
signs.
Sanitation Non- Low (2) High (4) 8 (Medium) Conduct
Compliance regular health
checks and staff
training.

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