The market trends show that there has been a decline in Industry revenue as paper consumption declines. The Stationery Goods Retailing industry includes companies that retail stationery goods, writing materials, art supplies, ink, pens, pencils, and notebooks. The industry is a very small component of the overall Retail Trade division and is subject to increasing external competitive pressure and threats. For example, an increasing number of alternative retail channels that also sell stationery items, including online retailers, are challenging the industry’s long-term survival, as is the ongoing move towards a digital economy. As a result, the industry has been gradually shrinking. Over the five years through 2016-21, industry revenue is expected to fall by an annualised 1.7% as it continues to contend with external variables.Organisational processes and procedures currently used at OSY were developed by the Partners to meet original requirements and are all paper-based. Because OSY is expanding, risk management needs to be reviewed and updated to ensure the business remains competitive.

To establish risk context, your CEO has asked you to prepare a risk management plan by firstly reviewing current practises and applying a performance management model; also, to consider political, economic, legal, technological and policy context. You will need to seek the assistance of stakeholders in your research of identified risks and generate a list of applicable risks that may apply to scope using relevant techniques and tools. The current administration systems are paper-based, including all HR documentation, customer accounts and financial reporting; there is no formal input by stakeholders. These systems and processes need to be streamlined and improved as the business continues to grow.