Childcare Industry Grows in Singapore Essay

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Step 1: Risk Identification Step 2: Risk Assessment Step 3: Risk Management List of Possible Risks Arise From "Likelihood H/M/L" "Impact H/M/L" "Risk Priority H/M/L" Describe the risks Describe how to control the risk Team Responsible Strategic Customer Changes M M L Due to the increasing demands for childcare services, there will have about 200 more childcare centres to be built in the next 5 years. This has led to a greater competition in the childcare industry. Singapore government is willing to provide funds to those employers or building owner, who intend to set up child care centre for the first time. "Parenting is a very important aspect of work-life balance. Setting up the child care centre in the workplace allows the parents…show more content…
One negative comment posted online in a flash, will affect the company future direction. "Management Team will come out a written emergency plan & incident reporting, which cover all potential disasters/problems and the necessary response for each. This is not a document that is written and then put away. School Care team must understand their roles & process during unforeseen circumstances, which will be practiced during drills. Drills will be evaluated and rewritten as needed. " Academic Development, Opertaion & Finance Team Information Transfer People Management Open Communication & Trust Financial Cost of Capital H H H Financial support from rental payment, vendor’s payment, staff payroll, utilities, insurance teacher training modifying & keeping up physical facilities and other costs to be met. "We have come out 3 solutions for this risk. 1. Buying insurance to cover those potential financial problems, e.g. auto losses, general liability, professional liability, property losses, and others. 2. Transferring the risk to other parties through contractual agreements. 3. Looking at self-insurance as a way of funding a loss. Managing Director & Finance Team should review the financial projections periodically and make the necessary adjustments. The projections should use realistic assumptions based on the company's historical results or industry averages. " Managing Director & Finance Team Growth of Capitalization

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