Consumers are becoming much more informed of the claims made by manufacturers regarding how natural or healthy their products are. The threat of class actions could take the exposure to another level. Read the NYTimes article on Quaker Oats here.
Is risk culture to blame or business trading conditions ? Either way, it is important to enable the correct values and behaviours within an organisation, to ensure your business is not compromised. Read the full Aus Food News article here.
A timely reminder to review your food safety processes and procedures. A proactive approach to the management of risks, will reduce the likelihood and therefore impact on your business and reputation. Read the full article from Food & Beverage here.
A riveting read about the Nestle Maggi noodles scandal in India. The quote from the Nestle CEO says it all: ““We were right on factual arguments and yet so wrong on arguing. It’s not a matter of being right. It’s a matter of engaging the right way and finding a solution.” Read the full Fortune article here.
What are the key risk indicators in your organisation? Culture is a key for driving performance, but it can also be a leading indicator for risks. ASIC have now confirmed that they will be looking at company culture as we can see from this article from Mondaq.
This article from Mondaq demonstrates the ability to defend a claim of negligence by being able to evidence the proactive risk management initiatives taken.
How confident are you that your products have not been adulterated?
What would happen to your business, if you’re product recall claim was denied ? A cautionary note about an insured’s duty of disclosure, because the ramifications could be costly, even to the largest of organisations. Read the full article here
The Internet of Things (IoT) offers great opportunities for manufacturers to create efficiencies in their supply chain. But like any significant change, there are risks that need to be managed… Read the full article here
With a complex ownership structure that raises questions regarding governance process, it is not a giant leap to start questioning the culture within Volkswagen that would ultimately lead to the emissions scandal. Read more here from the Ethical Boardroom….