Risks, Challenges and Countermeasures Faced by Beneco Futures since the Outbreak of COVID-19

Abstract

Due to the financial uncertainty and business development challenges after the outbreak of COVID-19, Beneco Futures is seeking solutions to optimise its operating process and leverage its current facilities and resources for financial sustainability. This report detailed current problems encountered by Beneco Futures and proposes corresponding countermeasures. This proposal also outlined and assessed the implementation process, risks and challenges, and the social impact that may arise in the process of implementation. The proposal analysed Beneco Futures’ core business issues regarding human resources and financial constraints. The project development process is conducted by design thinking and double diamond, which help identify business challenges and outline solutions designed. The value proposition canvas was designed to match recommendations with Beneco Futures’ pains, gains, and job s to be done. Recommendations were divided into three sequent sections: find targeted candidates, entice those candidates, and provide support to them. These recommendations aim to screen out the right salesperson to help the company form a professional business development team and streamline the operational process with rational budget planning and potential funding suggestions. In the recommendation implementation process, the enterprise can emphasise Environmental, Social, and Governance (ESG) to covey a positive social impact, primarily the corporate social responsibility to the public and attract attention from potential candidates and clients. Besides value, Beneco Futures’ recruitment plan also has a social impact on decreasing the unemployment rate and promoting economic growth. The potential risks during the implementation include finding sales candidates, budget overruns, fund shortages, and low retention rates. Corresponding risk mitigation methods will be raised in the risk management assessment.