The Risk of Ocean Park
Ocean Park has three major of internal risks, they are include a human resources risk, compliance risk .Employee turnover (Human Resource Risk)Ocean Park has been refers to unkind staff, the kiosk employee said that the company need to logarithmic in every day. If the revenue and inventory had appeared discrepancies, they must take some money to pay. In the special holiday, such as Christmas and Chinese New Year, they are many people go to Ocean park. Due to staff shortage, so the staff needs to work overtime to 12 hours. Moreover, a large number of individual visit scheme influx to the park in recent years, sometimes will have many tour groups go together. Due to the narrow of place, Visitors and park staffs often appear collide. On the other hand, thesalary is very lower and exposure to the elements, so a number of staff turnover is higher than in other industries. EffectEmployee is a very important asset of company, high turnover rate will make a institutions will face difficulties, it will make a staff morale and productivity will be hit. In addition, this behavior will increase the burden of training and recruitment institutions. In 2014, the wastage rate of Ocean Park is 20%, it is in terms of large organizations regarded as a higher level.
Mitigating StrategiesIn order to reduce the turnover rate of employees, Ocean Park often holds a training program. In last year, the annual total was thirty-seven thousand nine hundred hours of staff training. Moreover, Ocean Park held a various activities annually, such as staff meeting and barbecue. They hope that it can use this opportunity to offer colleague know each other, make the employees have a sense of belonging in the company and retain them.Health Safety and technology (Compliance Risk)In September 2011 to November, Ocean Park had occurred six cases accident of amusement rides in less than three months. One is the “crazy roller coaster” suspended automatically, lead to twenty-seven tourists trapped in the air. Another one is Mine Train collision accident.EffectIn the short-term, amusement rides had occurred accident continuously. It will damaged the brand and makes visitors lose a confidence to the park. These events reflect Ocean Park equipment is very worn, so cause a mechanical facilities often appear a failure. Moreover, it can show that the qualifications Insufficient of staff and examiner mechanisms are inadequate.