D56 ENT
Transcript of D56 ENT
DE FIFTY SIX ENTERPRISE
RISK MANAGEMENT
BY:Asma Liyana Ja’afarIzzati Natasha AzizNur Fatehah Ab RazakNurul Nabila Ruslen
BUSINESS BACKGROUND
Name of company DE FIFTY SIX ENTERPRISE
Address
LOT. G18, TINGKAT BAWAH,KOMPLEKS PKNS,45000 KUALA SELANGOR,SELANGOR.
Occupation Selling and making ‘Baju Kurung’ for men and women.
Type of product Textiles
How long established
5 years
NAME OF RISK MANAGER
Individual specifically tasked
to oversee and manage the
risks of the organization.
Encik Khairil Anuar bin
Halil has been given
responsibilities to manage
the risk.
DUTIES OF RISK MANAGER
• Identifying and measuring risks of the
organization.
• Providing safety related training program-firm’s
employees had join fire drill activity.
• Communicate with other departmental heads.
OBJECTIVES• The objectives of a risk management program can be
divided into pre-loss and post-loss objectives
• Pre-loss objectives: Objectives that an organization considers before a loss take
place
• The main reasons are to: Economic factors To reduce stress and anxiety To adhere to legal requirements
• For this company, first aid kit is used to recover any injuries that might happen in the near future.
FIRST AID KIT
• Post-loss objectives:
Objectives that an organization needs to consider after a
loss has taken place
• The reasons:
To ensure continued operations and survival, stability of
earnings and growth and to undertake corporate social
responsibility
• If any incidents or accident occurs to the company or the
workers, Encik Khairil Anuar (owner) himself will provide
funds of money/cash
FUNDS
IDENTIFYING EXISTING RISKS
• Shoplifting
Frequency of stealing their display stocks is quite high
during the festive season.
Normally people will steal fabric which is quite expensive
such as batik silk.
• Lack of machineries
The process in cutting the textiles is still using
manual skill. Whereby, the workers still using
scissor to cut the fabrics into a different shape.
• Changes in consumer tastes
Without following the trend, nobody is willing to
purchase the factory’s product and they will
switch the demand to other factories who provide
more updated types of the fabric.
IDENTIFYING POTENTIAL RISKS
• Fire
High potential of fire to occur due the location which is very nearest with the TNB substation.
RISK MANAGEMENT TOOLS
RISK RETENTION
• All the risks have been retained by the owner of the factory
• Does not require high capital in production and it is fine to retain those losses by itself.
CONCLUSION
• Categorized as a very risky building whereby the facilities
provided are still not better enough.
• Need to do some improvement in term of factory facilities to
prevent or to reduce the outcome of losses.
• Responsible to oversee the risks of the factory.
Implementing Risk Management Policy
Purchasing insurances
Get permit for workers
Change environment working place
Provide smoking area
Fire protection equipments
Training for workers
RECOMMENDATIONS