An admittedly incomplete list of business components and possible risks
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The document outlines a range of business components and associated risks faced by Salt Marsh Solutions, Inc. These risks span various areas such as personnel availability, financial stability, marketing effectiveness, and operational challenges. It highlights potential problems with sales performance, supply chain issues, compliance requirements, and governance among others.
An admittedly incomplete list of business components and possible risks
- 1. An Admittedly Incomplete List of Business Components and Possible Risks Page 1 Business Components Long-term/Strategic Plan Long-term/Strategic Plan not reflected in operational plans Personnel – Availability to Contribute Disability Death Family crisis Resignation Finances/Cash Flow Revenue shortfall Increasing costs Delayed payments Illegal acts reduce cash Unexpected expenses Short term cash flow shortfall Longer term cash flow shortfall Marketing Effectiveness Low response to website Low response to other collateral Inquiries not related to products or services Internet presence has gaps Website not available to Internet users Website hacked Search engines do not rank website high Marketing messages not effective Target markets poorly defined Competitive Position/Pricing Prices not competitive Marketing messages weak compared to competition Product/service reviewers prefer competitor offerings Sales Sales below targets Sales calls below targets Closing ratio below target Difficulty in getting appointments Sales collateral not generating inquiries Investor Confidence Investors have lost interest Inability to gain interest of new investors Investors express concerns that must be addressed Major plans and initiatives Salt Marsh Solutions, Inc. 2012
- 2. An Admittedly Incomplete List of Business Components and Possible Risks Page 2 Required resources not available Tasks not clearly defined Schedule not clearly defined External dependencies not agreed upon Status reporting is ineffective Issues not being resolved quickly Obsoleted by external events Negative impact on externals (environment, etc.) Unfavorable media coverage Regulatory inspections require rework Stability & Predictability of Market(s) Market moving to new products/services Market distracted by external events Market expectations are changing New competitors are disrupting market Government regulations affecting market predictability Supply Chain Supplier quality is decreasing Supplier experiencing business difficulties Supplier missing schedule commitments Supplier changing terms and conditions Prices are increasing Facilities/Infrastructure Facility not available for use Facility experiences security breach Contents damaged or destroyed Vital records not recoverable Quality of Products/Services Customer/client complaints/cancellations Rework/call-backs exceed tolerance levels Production processes disrupted due to quality issues Insurance Coverage Premiums increased Coverage dropped Coverage dependent upon required changes Distribution Channels Distribution channel underperforming Distribution channel damaging brand Distribution channel terminating Distribution channel experiencing poor PR Inventory Spoilage Salt Marsh Solutions, Inc. 2012
- 3. An Admittedly Incomplete List of Business Components and Possible Risks Page 3 Inventory levels too high Inventory levels too low Pilferage Unexplained losses Production Processes Quality out of tolerance Production stoppages due to materials Unbalanced production line flow Production stoppages due to maintenance Production stoppages due to lack of skilled personnel Product/Service Obsolescence Improved competition New competition Market shift to different solutions/products Credit Rating Unexplained credit downgrade Ability to pay threatened Staff Experience/Expertise Cannot find employees with basic skills Cannot find employees with technical skills Losing skilled employees to competitors Employees leaving after training Commitments to Customers Unable to meet commitments to customers Employees making commitments we cannot meet Business Operations Workflow processes are error prone and inefficient Production scheduling processes lead to lost time and rework Rework at unacceptible levels Compliance with Regulatory Requirements Changing requirements Varying interpretations of requirements Additional procedures to follow Ability to Anticipate Taxes Changing tax laws and interpretations Internet/Mobile Presence Accessibility by new devices Browser variations do not display properly Search Engine Optimization Salt Marsh Solutions, Inc. 2012
- 4. An Admittedly Incomplete List of Business Components and Possible Risks Page 4 Public Relations PR gaffe Criticism in the (normal) media Criticism in social media Partner Relationships Misplaced trust Partners violate agreements Computer Systems and Data Computer data losses cannot be recovered Computer virus/malware infects computer systems Employees do not follow privacy policy Employees do not follow safe computing policies Governance Board meetings are often cancelled Agenda items are frequently deferred Board composition lacks independent views Fidicuiary responsibilities (if applicable) Staff do not understand fidicuiary responsibilities Documentation does not support proper execution of fidicuiary responsibilities Security Breach of physical security Breach of cyber security Employees undermine security measures Salt Marsh Solutions, Inc. 2012