Risk Management
arsol aromatics
Arsol Aromatics understands itself as global player with demand to use optimally existing chances on the international market. For this an effective risk management system is unalterable. The function of risk management is to
- engender risk consciousness
- recognize and evaluate risks
- communicate risks to the relevant decision makers
- control risks by suitable measures
Chances are to be noticed by systematic risk management, structures and risk positions are to be optimized and developed under consideration of future requirements.
Thereby the legal tasks due to the law “Kontrolle und Transparenz im Unternehmensbereich -KonTraG-” (control and transparency in division) dated 1st May 1998 are fulfilled at the same time.
Identification of risks
The risk identification serves the structured and complete registration of the substantial risks. It refers to all kind of risks. Even not yet realized risks (risks out of orders in hand, in staff division, in procurement) are counting hereto. The risk identification is part of the planning and reporting system.Analysis of risks
The risk analysis serves the evaluation of identified risks, in order to deduct the scope for control of risks. The whole of evaluated quantitative or qualitative risks is the risk portfolio of the society.Control of risks
It is a goal of the control of risks to take suitable measures in context of existing guidelines and other rules. As a strategy and control measure the society can accept, decrease, transfer or avoid risks.Monitoring of risks
The risk monitoring contributes to that the risk position of the society corresponds to the risk situation desired. Essentially it concerns:- Control of the effectiveness of the risk control measures as well as their functionality in the society
- Registration and judgement of the risk changes during time periods
- Suitability of the internal control system regarding the operability of the risk
- management system
- Reasonability of the internal report system
Communication of risks
It is guaranteed by risk communication that the substantial risk information is made promptly accessible for the relevant division in society. Independently of a regular structured reporting all parts in the society involved have to report immediately on new existence dangerous risks and to document contents of the reporting. It is a must to keep the documentation to risk management (the legal rules apply accordingly).
Realization of Risk Management at Arsol Aromatics GmbH & Co. KG
Substantial bases for realization of the risk management at Arsol Aromatics GmbH & Co. KG are:
- Inquest about risk situation
- Inquest about risk estimation
- Final statement and resolution of society’s management
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