Company success
Managing risks, opportunities and business continuity
Tyrolit combines Enterprise Opportunity and Risk Management with Business Continuity Management and crisis management. These systems support the identification, assessment and management of risks and opportunities across the Group.
Risk management system
The Tyrolit risk management system provides a structured framework for identifying, assessing and managing risks and opportunities within the company.
Enterprise Opportunity and Risk Management (EORM) serves to define appropriate measures and support informed decision-making. Members of the Board of Management are actively involved in this process.
Systematically identifying and evaluating opportunities and risks
Under the guidance of risk management, relevant opportunities and risks within the company’s business areas are systematically identified and evaluated.
Implementing measures to manage risks and make use of opportunities
Identified risks are addressed through appropriate measures or monitored using defined systems and processes. Measures to develop and make use of opportunities are defined and implemented.
EORM is a Group-wide approach covering identified relevant risks and opportunities along the value chain and within central services.
Crisis management defines the required measures and internal and external communication in the event that a risk develops into a crisis – for example, a server failure or fire. Detailed procedures for such events are defined within the crisis management process.
Those responsible for Business Continuity Management and crisis management also perform Risk Owner functions within EORM, giving them detailed insight into Tyrolit’s risk landscape.
Business Continuity Management, crisis management and EORM are coordinated systems that complement and support each other.