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Finance & Accounting
Pages 5 (1255 words)
Name: Instructor: Course: Date: Commercial Insurance Presently, my vision is to establish my own hotel where I endeavor to work as an administrator. I intend to create the hotel’s own remarkable brand such as Best Western, Holiday Inn and Days Inn. However, I appreciate that in my endeavor to create a noteworthy, I will have to encounter a myriad of risks.
Dealing with the business’ risks will involve evaluating the existing risk factors and developing robust contingency plans on ways of dealing with the risks whenever they occur. Therefore, laying down a concrete plan for these risks will be the central theme of ensuring efficient management of the business risks. In addition, with the understanding that it will be impossible to plan for everything, the hotel’s risk management plan will provide for efficient ways of reacting whenever risks emerge. The plan to establish the hotel involves the designing and construction of the hotel premises. This means that I will require a professional design and building team, which will not only be tasked with developing a concrete design for the premises on which the hotel will be based, but also building the hotel based on my specifications, as well as those of the state planning department. Rather than embarking on the designing and construction processes on my own, for instance, by hiring a design and construction team, I will float a design and construction tender in the local newspaper and journal for a specified duration. ...
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