RISK MANAGEMENT REPORT Identification and realization of a revealed risk of an
Directors should ensure the availability of an effective
organization is determined by Risk Management.
Risk Management System that focuses on the
It ensures that the organization prepares and
operations of the company.
implements an effective plan to avoid losses and minimize the impact caused by a loss. Risk Management provides a clear and structured path to identify risks. By gaining a clear understanding about all the risks, an organization can evaluate and prioritize and take necessary steps to minimize those risks. The Company has followed an instantly established
Key Risk Factors There are exposures for a few risk factors in our company and an uncertainty prevails in the operational set up. Those risk factors faced by the company and the steps taken to minimize them are discussed later. Strategic Risks
and
Risks caused by uncertainties embedded in our
change negligence. The main objective of our Risk
strategic objectives and unused opportunities are
Management System is to help in the operations of
called Strategic Risks. This type of risk arises mainly
our business based on complete attention about risks.
from the key decisions made by the Directors
process
to
identify,
evaluate,
minimize
according to the goals of the organization. Identification and evaluation of risks are the first and foremost things that need be done. Strategies that
The key concept behind strategic risk is the failure to
could be used to avoid, minimize and change the
achieve our proposed organizational goals. Taking this
identified risks are planned after that. The Board of
into kind consideration, the Board of Directors and the CEYLON FERTILIZER COMPANY LIMITED
Annual Report 2018
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