Marimekko’s risk management is based on the risk management policy confirmed by the company’s Board of Directors, which defines the principles, objectives and responsibilities of risk management, as well as the organisation and control of the risk management process.
Risk management principles
Marimekko’s risk management aims to safeguard the smooth continuity of business operations and ensure stable profit development for the Group. Comprehensive risk management is an ongoing, systematic process which involves identifying and evaluating risks associated with the company’s operations and operating environment. The company’s key risks comprise risks which could prevent Marimekko from exploiting business opportunities or jeopardise or prevent the achievement of the strategic objectives of the Group or a Group company, or the continuity of operations or would otherwise have significant consequences for the company, its personnel or stakeholders. Risk management is an integral element of the company’s management and decision-making process, covering all of the Group’s functions.
Risk identification and assessment
Risk identification builds on Marimekko’s strategic and operational objectives. The company aims to identify risks which have the potential to jeopardize the achievement of the company’s set objec-tives. Risk analyses and assessments are based on self-assessment. According to Marimekko’s risk management principles, the company assesses risks on a scale of 1 to 4 with regard to the likelihood of risk materialisation, and on a scale of 1 to 3 with regard to their consequential impact. Risks associated with business opportunities are assessed on a case-by-case basis.