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Extended-form Case Study
Risk management: approach and methodology in Carlsberg
A selection of talks on Management, Leadership & Organisation
Psychological barriers to negotiation
- Prof. Andrea K. Schneider
- Marquette University School of Law, USA
At Carlsberg, we consider effective risk management an integral part of our business operation, and it would use uncertainty, helps the group achieve its strategic ambition, and facilitate value creation for the stakeholders.
I have been working with risk management since I joined Carlsberg in 2006, and it has been a very, very good journey, because we actually started up from scratch and have built that up since then. My experience is that I had been working in internal audit for many, many years, had been working for external laws and for a lot of other Danish companies. For my education, I'm a registered public accountant, and I'm a board member of the IIA meaning the Institute of Internal Auditors, and i'm also a member of the IIA industry group and member of the whistleblowing network group in Denmark, and besides that I'm also, you can say a member of the accountant board within the Danish commerce and Companies Agency.
The agenda for this presentation is I want to tell you a little bit about risk management in Carlsberg, also the framework that we use at Carlsberg, and the benefits that we see by using risk management. I'll tell you a little bit about our governance structure, and also I will give you an introduction to our practical guidelines. How to identify, assess, and report risks, and also how to develop and monitor risk reducing activities. Finally, I will tell you a little bit about our process in relation to new and emerging risk, and also the escalation procedure in regards to this.
In Carlsberg, risk management is relevant because Carlsberg group operates in an uncertain world, changes bring ever more uncertainty than normal, uncertainty brings risks, and risk needs to be effectively managed to ensure that the Carlsberg group achieves the positive aspect of changes, but also Carlsberg group owe it to the stakeholders to effectively manage the risks that are taken on their behalf, and will be judged on their ability to do so. In order to reduce uncertainty, achieves the group strategic objectives, and ensure value creation for all the stakeholders, Carlsberg views effective risk management as the integral part of running its business operations, and risk is viewed as something that can and should be managed, and managed risks are viewed as something that can be turned into opportunities.