long answers need to have at least a full or substantial paragraph. for each question.

 Ensure that all questions have a beginning, middle and end when responding to the question. 

 —–Aim for at least a full page per question (minimum) with supporting evidence/citations/references Ensure that have made reference to tourism, hospitality, events or foods in your answer, where appropriate, and supporting citations/references within the body of the paragraph

Question 5: The role of the Risk Manager within organisations

-(doc5) see the notes and answers

Define risk and risk management. Based on the lecture notes, outline a framework that assists in controlling and reducing risk within organisations. What are the differences between known and unknown risks? Outline the systems called STOC and FIRM. What are their key components for mitigating risk? Define three types of risk profiles. What is meant by the term ‘risk appetite’? Give five examples of the benefits of understanding and applying risk management within our industry (tourism, hospitality, resorts, hotels, events and foods) Give an example of 3 different sources of literature outlined in the lecture. In your opinion, what are the critical risk factors that managers in the events, foods, hospitality and tourism industry need to understand and mitigate? What are the four risk categories outlined in the lecture? Give an example of each.

Discuss the Trivago case addressing the following questions: Who are the parties involved in the case? 

The location (jurisdiction) of the case. Who won and why?

 What was the judges verdict (fines, penalties) when deliberating and bringing down their finding of the case? How does the Trivago case impact on future cases involving similar characteristics or circumstances?

 List and briefly describe three key principles relating to Australian Consumer law. Define ‘Unconscionable Conduct’. Cite two cases involving unconscionable conduct.

 Define the objectives as given in the Competition and Consumer Act 2010 (Cth). Define the following participants and legal principles within the main consumer relationship – Consumer Market Supply Nemo Dat Rule Remedies Lien Outline and discuss the chain of responsibility as set out in the buyer/seller transfer model. What are the consumer’s rights and expectations, in particular the 3 ‘Rs’? 

What are the seller’s obligations and responsibilities to the buyer?

 List and briefly outline five key consumer law stakeholders.

 Discuss the three examples given in the lecture that describes the relationship between the seller and buyer at various stages. In your opinion, which of the three representations is the best outcome for the seller/buyer relationship and why?

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to ensure that they have responded to the questions in a:

 A. Clear – ensure that the language you use is your own, and reflects your understanding and thinking about the question 20% B. Direct – state early and simply what your are going to answer and how this will be achieved – have you answered the question? 40% C. Logical – structured answers with short sentences and paragraphs discussing one point – be creative and add elements that reinforce your words 20% D. Supportive – references 20% The following slide suggests other important criteria to include in your answers to questions