Nautilus Boat Hire is a small family-owned and operated business. It operates fr

Question

Nautilus Boat Hire is a small family-owned and operated business. It operates from a marina at the mouth of a major river and has been operating for five years.

The business is based on:

hire of eight aluminium runabouts (tinnies) to youth groups, anglers and tourists

hire of two deep-sea vessels to serious anglers and scuba divers

hire of fishing gear

sale of bait and scuba tank refills

The business is considering an expansion that will include purchase of three houseboats for hire to families and groups of young adults.

They recently conducted a survey revealing that a significant number of clients are tourists from interstate or overseas. Most clients are once-only hirers who have no knowledge of local waters and weather conditions.

As part of their business planning, the company identified the following risks to the new business offerings:

people who are not strong swimmers, especially children, drowning

houseboats getting lost and/or driven on to sandbars

clients finding the houseboats difficult to control—resulting in damage to the houseboat and/or land structures when, for example, mooring

clients being sunburned and dehydrated on hot, sunny days

Using the information provided, describe the goals, objectives and targets that Nautilus Boat Hire should include in their risk management plan. These are the critical success factors relevant to the safety of the new operation. (A total of 350–370 words)

Explanation / Answer

Answer:

Risk Management Plan: Risk management plan is the plan of action along with assigned resource, against each identified risk in the organization, so that organization can avoid the happening of the risk in the organization and if happened then can manage the event with required supporting actions to avoid any loss/major issues in the organization. Risk management plan is the necessary document required at all the plants for management of emergency/ major unwanted events. The risk management plan will assure the organization on availability of action plan and team to support any potential unknown happening in the organization.

Critical Success factors: Since the Nautilus Boat Hire business is planning to expand their business by purchasing three more boats to support their customers and expand their business so that they can have higher revenue generation in the organization. The critical success factors are as below

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