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Adidas Risk Managment Essay

566 words - 3 pages

COMPANY OVERVIEW ( Adidas )

We are competitive. You have to be if you want to be successful in the long run – in any game. It is fair to say that we are playing in the sporting goods industry’s Champions League. High league, high stakes. At the Adidas Group, all of us put our entire dedication and brainpower into our mission of making the Adidas Group the global leader in the sporting goods industry. Why?Because we want to create as much value for all our stakeholders as possible. No matter whether you are an athlete, a fashionista, a (potential) employee or any other stakeholder, we strive to create value for you. Read on to find out how.

RISK MANAGMENT FACTORS

We acknowledge that in our daily business we are exposed to various risks and that it is necessary to take certain risks in order to be competitive and ensure sustainable success. Our risk and opportunity management principles and system provide the ...view middle of the document...

Opportunities are classified in two main categories: Strategic & Operational and Financial.

The Adidas AG Executive Board has the overall responsibility to operate an effective risk and opportunity management system that ensures comprehensive and consistent management of all material risks and opportunities. The Group Risk Management department coordinates the execution and further development of the Adidas Group’s risk and opportunity management system and is the owner of the centrally managed risk and opportunity management process on behalf of the Adidas AG Executive Board. The Adidas AG Supervisory Board has the responsibility to monitor the effectiveness of the Group’s risk management system. These duties are undertaken by the Supervisory Board’s Audit Committee. In addition, the Group Internal Audit department also includes an assessment of the effectiveness of risk management processes and compliance with the Group Risk Management Policy as part of its regular auditing activities with selected Adidas Group subsidiaries or functions each year.

To facilitate effective risk and opportunity management, we implemented an integrated risk and opportunity management system, which is based on the integrated frameworks for enterprise risk management and internal controls developed and published by the Committee of sponsoring Organizations of the Treadway Commission (COSO). Additionally, it has been adapted to more appropriately reflect the structure as well as company and management culture of the adidas Group. This system focuses on the identification, evaluation, handling, monitoring and reporting of risks and opportunities. The key objective of the risk and opportunity management system is to protect and further grow shareholder value through an opportunity-focused but risk-aware decision-making framework. Our Group Risk Management Policy, which is available on our intranet, outlines the principles, processes, tools, risk areas, key responsibilities, reporting requirements and communication timelines within our Group. Risk and opportunity management is a Group-wide activity which utilises critical day-to-day management insight from both global and local business units and functions.

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