Risk Management Case Study: Coca-Cola Company

Introduction Situated in the town of Phoenix, Phoenix Beverages was born from the strategic merger of Phoenix Camp Minerals (PCM) and Mauritius Breweries Ltd (MBL). For more than 50 years, PCM offered beverage solutions to the Mauritian population. As the sole bottler of The Coca-Cola Company® in Mauritius, PCM has cultivated a long established relationship with the Atlanta based company, since 1931. The world famous and well appreciated soft drinks, Coca-Cola, Fanta, Sprite, Schweppes, were bottled since then, at the production site commonly known as the ‘Limonaderie’ (or Limo). Situated near the roundabout at Pont Fer, MBL is still a landmark for all road users going to the upper Plaines Wilhems. Motorists refer to the roundabout as rond

Within this risk process, all of the steps need to mitigate risk. The risk process helps you: Identify critical and non-critical risks Document each risk in depth by completing Risk Forms Log all risks and notify management of their severity Take action to reduce the likelihood of risks occurring Reduce the impact on your business. The Company uses a Risk Process whenever their ability to meet its objectives is at risk. Most teams face risks on a regular basis. By putting in place this Risk Process, they can monitor and control risks, removing all uncertainty. The Risk Process involves running risk reviews to identify and quantify risks. The risks are then documented and the Risk Process helps to take action to reduce the likelihood of them occurring. This Risk Process will help to put in place the right processes for managing risk. The organization’s leaders acknowledge the threats of fraud and corruption, the harm they can cause and the potential for savings from managing the risk; The organization’s leaders acknowledge the importance of a culture that is resilient to the threats of fraud and corruption and aligns to the standards of good governance; The governing body acknowledges its responsibility for managing its fraud and corruption risks and will be accountable for the actions it takes through its governance reports; The governing body sets a specific goal of improving its resilience to fraud and corruption. Fraud risk identification is essential to understand specific exposures to risk, changing patterns in fraud and corruption threats and the potential consequences to the organization and its service users. The PBG can develop strategy of providing the needful resources and should take actions against the hazards. Internal control requires