Approach to Risk
4imprint seeks to take a balanced approach to the risks and uncertainties that it faces.
4imprint’s strategic objectives (see the About Us section) revolve around market leadership and organic revenue growth ahead of the industry as a whole. The Board encourages an appetite for measured risk-taking that contributes to both the operational agility and innovative culture that it believes is necessary to meet the Group’s strategic objectives. That appetite is, however, tempered by risk identification, evaluation and management.
RISK management process
The Board has ultimate responsibility for the Group’s risk management process, although responsibility for reviewing specific risk controls may be delegated to the Audit Committee. The Executive Directors and operational management teams are responsible for the identification and evaluation of risks and the subsequent implementation of specific risk mitigation activities. A risk review is conducted by the Board at least annually, and evolving or urgent issues are discussed at regular Board meetings as and when appropriate.
It is important to note that business operations are conducted from centralised facilities in each territory, with short reporting lines. The Executive Directors are close to day-to-day matters, facilitating early identification of, and response to, evolving risks.
Risk appetite, the risk management process, and associated mitigating activities are all essential elements of the Group’s strategic and operational planning processes.
4imprint’s business model means that it may be affected by a number of risks, not all of which are within its control. Outlined on the risk matrix page are the current principal potential risks and uncertainties to the successful delivery of the Group’s strategic goals. The list is not exhaustive and other, as yet unidentified, factors may have an adverse effect.