Analyse and document risks in consultation with relevant stakeholders
The risk of the company has to be categorized with the stakeholders of the company to attach proper risks assessment to the relevant stakeholder. The company may have a contractor for the production facility development and it may be exposed to the risk of payments schedules. The employees are dependent on the running of the company in a successful manner and if the company fails to do well, their jobs are at risk. Insurance agents are important in insuring the employees, the production facility, the company managers, etc. and if the company faces a natural calamity it may not receive any insurance from the company and also may not recover their investments easily. The managers of the business that are associated with the company may be at a loss when the company fails to fulfil their obligations of promised salary and career development. The company may not be able to provide certain benefits to managers due to a dull market and thus the managers may not be able to do their job with dedication and may leave the company.
Undertake risk categorization and determine level of risk
The risk of the management style being different in the new country is most likely due to the differences of culture, the people and their behaviours. The risk of legal and commercial relationships may be less likely if the effort of the lawyers is involved in identifying the risks involved and eliminating it with special safe clauses that is able to reduce the risk on the company. The risk of human activities and manpower culture can be categorized in the segment of being possible, because of different cultural background and inherent beliefs, but it can be easily solved with a standardized approach to employee behaviour and how everyone is expected to behave and act. The risk of the political environment is one of the most important and impactful and is categorized in the almost certain category because when the government decides to change the policies is not certain and this can impact the business in a significant manner (Pressman, 2009). The consequence of this risk is major as it impacts the whole industry.