Risk management in the major retail/groceries store

Wong, ZWN

Abstract

In today's unforgiving retail market where every large food/groceries retail
operator is deriving new strategies to surpass its rivals to achieve market
success, facilities in retail stores play an important role in sustaining and
delivering quality products and services to shoppers. This in turn leads to a better
business position in the realisation of organisational objectives.
In view of this key importance, there is a need to ensure that there is a proper risk
management plan adopted to manage these facilities and keeping the five areas
of facilities risks i.e. physical, human, organisation, environment and financial to
their minimum. Failure to manage will lead to undesired consequences such as
disruptions to business operation which could result in other damaging effects to
retail companies.
Based on previous research on risk management, there has been a range of
studies into risk management of other industries; however, little has been carried
out in the retail industry. Being a key contributor to the national economy, risk of
business disruptions to this sector has major impacts to the overall economical
balance. Therefore, this investigation is focused on the facilities risk management
of a major food/groceries retail multiple.
The research methodology of this study comprises questionnaires, personal
interviews and site visit/observation. The sample of this study is based on a
member of the Retail Benchmarking Forum (RBF) of the Centre for Facilities
Management (CFM) i.e. J Sainsbury.
The research findings have concluded that the key facilities risks presence in the
retail superstore are physical and human risks. Nevertheless, other facilities risks
have influencing effects for the above risks to be manifested. Additionally, the
study has shown that there are various risk mitigating measures in-place to
minimise and eliminate their possible occurrence. Therefore, in order to ensure all
risks are well-managed and maintain as a top player in the U.K. food/groceries
market, the entire risk management system should be strictly adhered to and
effectively implemented otherwise the entire process will be easily compromised
and could lead to many ruinous impacts to business operation.

Citation

Wong, Z. Risk management in the major retail/groceries store. (Dissertation). University of Salford

• Thesis Type: Dissertation
• Deposit Date: Jun 24, 2021
• Award Date: Jan 1, 2001