Member’s Dashboard My Account Consolidated Assessment of Reputation, Socio Economic, Documentation and Legal, Environmental and Physical Risk - for Small/Medium Sized Businesses Completed by: First Name Text Last Name Email 1. Do you adhere to the highest standards of ethical conduct, fair practice and integrity in all your business dealings in order to ensure the sustainability of your business and its reputation? * Yes, absolutely. As the business owners we are committed to ethical leadership, personally champion moral values, fair practice, codes of conduct expected of our staff and have a high level of compliance and regard for all applicable legislation, regulations and industry good practice in all our customer interactions. Yes, we act in the spirit of consumer interests at all times and the fair treatment of customers is embedded in our businesses culture as it relates to dealing with customer complaints, the language used in documents, terms and conditions, product claims, labelling, sell by dates, weight, ingredients, service undertakings promised, the use of ethical selling techniques and fair outcomes. No, not really. Doing business in our industry is becoming increasingly tough and we are often forced to cut corners, act unethically and take unusual steps to get business. No, there are no longer any ethics or standards in our industry and it is dog eat dog. No, not at all. We have been forced to operate unethically in order to compete and survive and this has tarnished our reputation and put our whole business at risk. 2. Do you ensure that a disciplined transparent procurement and supplier selection process is followed by your business so as to ensure transparency, protect your reputation and eliminate potential corruption, bribery, cronyism, graft, collusion and kickbacks? * Yes, absolutely. The importance of our reputation, values, principles, anti-corruption culture, openness, transparency, honesty and good ethics form an integral part of our staff induction process. This is also reinforced to all staff on a regular basis with ongoing lifestyle checks being a feature of our organisation. Any suppliers who look for kickbacks or bribes are blacklisted by us irrespective of the cost to us. Yes, largely. We have an ISO quality management process and service level agreements in place and this requires all suppliers and service providers to comply with and meet required standards so as not to have an impact on the reputation of our products and services. Yes, we have a very simple approach to supplier selection and procurement and stick largely to existing reputable suppliers and customers known to us. No, not really. We have been forced to select certain preferred suppliers and service providers with dubious reputations in order to satisfy regulatory requirements around tenders and contracts to get work. No, we are being faced with an increasing number of incidents where our staff are offered kickbacks or incentives for selecting certain service providers or suppliers. No, not at all. We come across corruption every day in our business dealings and it appears that if we don’t play the 'game', we are going to be faced with excessive red tape, costly delays and the loss of business if we look to protect our reputation. 3. Is the safety and well-being of your employees and customers important to your reputation? * Yes, absolutely. Our safety and accident record forms a key reputation factor that differentiates us from our competitors in the industry. Yes, we view occupational health and safety of employees and customers as of paramount importance and there is no compromise in this area with safety controls and procedures being strictly enforced. No, not really. We have not made safety a priority in our business/organisation, but hold the necessary insurance in case of accidents or claims. No, we make use of casual labour and it is not always possible to educate them on safety protocols or provide them with the required protective clothing. No, not at all. We have experienced a number of avoidable industrial and work accidents that have had a big impact on our reputation, productivity and finances. 4. Are you managing the actions of your staff and the use of social media in your business/organisation to ensure that you do not attract adverse publicity which could damage your reputation? * Yes, absolutely. Social Business Intelligence (SBI) has become a critical part of our business and we monitor all media to counter negative feedback and adverse comments to ensure that confidentiality and potential reputational damage to our business and brand are proactively managed. Yes, our public communication policy is very clear and only the owners of the business are allowed to release formal comments on social media, our website or give press releases. HR policies and terms of employment are also very clear in this area and any breech of this is subject to a disciplinary process. Yes, to a degree. Good governance and delegation in our business has empowered our employees in leadership positions to make carefully considered decisions, thereby eliminating poor business practices and harm to our reputation. Not really. While we have a social media policy in place, we do still run the risk that staff comments and opinions are seen as those of the business and its owners. No, we don’t see how we are ever going to be able to control social media activities of our staff and accept that some employees won’t always think before they blog, tweet and post which may then be seen as a reflection of our business, its values and reputation. 5. Do you respect the rule of law, bylaws and local regulations, act with morality and try to do the right things at all times in order to protect your reputation? * Yes, absolutely. Customers like doing business with compliant and reputable businesses/organisations and as such we place a high priority on our regulatory compliance, protecting values and reputations and the fair treatment of our customers. Yes, we refrain from unethical practices and compliance failures so as to ensure that our reputational and regulatory risk is managed as best possible. Yes, to a degree. We are only compliant with the basic core regulatory and taxation requirements and deal with consumer issues as and when they occur. No, not really. Notwithstanding our laid down procedures and governance, some individuals in our business still conduct themselves in an inappropriate manner from time to time that may have an impact on our reputation. No, we sail close to the wind and prefer to pay fines, but when push comes to shove, we comply with regulations and the required legislation. 6. Have you assessed the macro threats to your business e.g. state of the global economy, regional risk, sovereign/country risk, state of the domestic economy and systemic risks? * Yes, absolutely. We have an enterprise risk management process and this encompasses all areas of potential risk facing our business from macro to micro issues including even the potential impact of disease and global terrorism. Yes, but while we are conscious of the global economic and political situation and potential impact on our business, we focus our attention primarily on regional and local risks. No, not really. We do not focus on global or regional issues, but rather on the immediate risks in our own country and those directly facing our business. No, we do not feel we have any influence over macro issues and focus only on the operational risks we have an influence over. No, not at all. We do not have any risk management process in our business. 7. Is your business highly vulnerable to economic shocks in respect of interest rates and currency volatility? * No, not at all. We have no borrowings and all our business is conducted in our domestic currency. No, we have no debt and have hedged most of our foreign currency exposures. Yes, to a degree. We have elected to fix the cost of some of our long-term borrowings so as to bring some certainty to the cost of our debt. Yes, possibly. We export to a number of markets and are vulnerable to a weakening of the major currencies against the local currency as our export margins are very tight and our costs largely fixed. Yes, given the high level of our borrowings, we are very vulnerable to rises in interest rates Yes, very much so. We have a mismatch between our local currency earnings and the currency we have borrowed in, which has created cash flow problems following the depreciation in the local currency. Yes extremely so. We import a high percentage of our raw materials and components, and are highly vulnerable to movements in the local exchange rate against the major currencies which makes us totally uncompetitive. 8. Are there major disruptive trends, disintermediation or technological changes in your industry? * No, not at all. We are in a very traditional industry where relationships, specialist skills and experience are still everything. Yes, to a lesser degree - but we have placed a specific strategic focus on trying to identify global disruptive and technology trends likely to have an impact on our business, markets and customers, and implement measures to counter these. Yes, our business and industry constantly have to adapt to new technologies, changes and global trends, but we are concerned that many disruptive and new generation businesses are not subject to the same regulatory and oversight requirements we are. Yes, to some degree. We are struggling to adapt to the disruptive change and the pace of technology changes in our industry. Yes, very much so. Disintermediation in our industry has seen many online competitors enter the space with pricing and margins coming under increasing pressure. We have no idea what disruptive factors or technological changes might face our industry or business going forward. 9. Is there increasing market demand for your products and services or are new competitors or competing products and price offerings entering your industry or business? * Yes, absolutely. We have a reputation for innovation, quality, carry a very wide product range, provide credit to qualifying customers, always have stock of the key items and as such we have seen our market share continue to grow. Yes, but while the overall size of the market has grown, the ever increasing competition from online service and product providers is forcing us to reconsider and drop some product lines where the margins no longer warrant us carrying the items. Yes, to a degree, but we are finding that there is continuous disintermediation in our industry which is having a major impact on the sale of many of our traditional profitable product lines. No, but we are finding that customers are happy to pay less and rely purely on manufacturer’s guarantees or warranties, and as result our back-up and service track record is far less of a sales feature these days. No, we are finding that the loyalty of suppliers and distributors to their traditional customers has fallen and that due to ever increasing competition they are increasingly happy to distribute through whoever will sell their products. No, not at all. Pirate, grey, cheaper and parallel imports are now a feature of our market and this has placed severe pressure on our sales and margins. 10. Have you assessed how vulnerable you are to changing regulatory risks in your markets and industry? * Yes, absolutely. We have placed a specific strategic focus on regulatory compliance in order to give us a competitive advantage in all the markets we compete in. Yes, largely – but regulatory changes in our key markets pose an ever increasing risk to our ability to do business there. Yes, increasing regulatory risks in our home and export markets and the increasing cost of compliance is making it ever more difficult for us to compete effectively and we would like to see more players in our industry complying with the required regulations as this is making the playing field uneven. Yes, to a degree. Other than for safety and basic labour requirements, we have largely ignored the regulatory requirements in our industry. No, we have not concerned ourselves with the required regulatory requirements and associated compliance as they don’t appear to have any impact on our business. No, not at all. We have no idea what the cost of non-compliance is currently or likely to be on our business. 11. Do you have the technological, educational and manufacturing skills to compete effectively in the market place? * Yes, absolutely. We have positioned ourselves at the cutting edge of technology in our industry and place a specific focus on technical skills and innovation in order to give us a competitive advantage in manufacture, quality and pricing. Yes, we have automated the majority of our production facilities with state of the art technology wherever possible and this has enabled us to remain competitive. Yes, to a degree. We spend a lot of time and money on technology upgrades, continuous training and up-skilling, but it remains a challenge and very costly to stay competitive. No, we are still heavily dependent on aging plant and dated production processes for our manufacture, which is making us steadily less competitive. No, we are most concerned about our productivity and the technical skill limitations of our employees as our industry is becoming increasingly technology driven. No, not at all. We still rely almost entirely on a manual labour force which is proving ever more costly and making us less and less competitive and we are no longer able to compete against the cheaper and better quality products imported from the east. 12. Are you reliant on the continuous supply of power at affordable and predictable prices for the sustainability of your business/organisation? * No, not at all. We have taken a large part of our business’s power requirements off the grid to ensure continuity of supply at predictable prices. No, we have a very low reliance on power for the core operations of our business. Yes, to a degree – but we are actively pursuing alternative sources of energy supply. Yes, while we are trying to make our business less vulnerable to external power provision by using generators, we don’t know whether the capital outlay is justifiable or affordable. Yes, definitely. We are totally reliant on the external provision of power and are highly vulnerable to both continuity of supply and pricing. 13. Have you assessed the level of contractual risk in your business - particularly if you get involved in large contracts or tenders, have ongoing contractual exposure to one specific party, are unable to perform as contracted to or are likely to get involved in lengthy litigation or arbitration? * Yes, absolutely. We ensure that all our contracts are scrutinised and vetted by our attorneys before we enter into them, we monitor our contracts proactively and deal with any disputes as soon as they arise. Yes, while we monitor our level of contractual exposure, we try to limit the level of litigation around our contracts and settle disputes out of court wherever possible. Yes, to a degree. We try to get out of those contracts that are likely to become detrimental to our business as soon as possible, even if it involves paying reasonable penalties. No, not really. While we have not taken any extra steps or measures to mitigate our legal risk, we hope that the contracts, where in place, will hold up. No, we have a number of contractual disputes that could have a major impact on the financial position of the business. No, not at all. We have no idea what our potential risk associated with our contracts or terms and conditions is or is likely to be. 14. Are your documents and agreements current and up to date, are they standardised, consistent, fair, easy to understand and do they comply with consumer, labour, employment, health, safety and credit regulatory requirements? * Yes, absolutely. Our documents and contracts are kept current, standardised and fair and all meet with consumer legislation and other regulatory requirements. Yes, notwithstanding some of the terms in our contracts and agreements, we choose to be fair in our treatment and enforcement of our terms and conditions. Yes, to a degree. We have tried to standardise our documentation and contractual terms, but the changing environment does not always make this practical or possible. No, our documents, contracts and terms and conditions are very limited and inadequate given the reality of our business environment. No, not at all. Our documents and contracts are inconsistent, mostly out of date, very one-sided and we find ourselves in breach of regulatory requirements when these are challenged. 15. Is your documentation regularly reviewed to ensure that the terms and conditions are still applicable, that they do not conflict with regulatory requirements and that the business/organisation is not exposed to additional or new risks or aspects which are not contained in the existing agreements? * Yes, absolutely. We regularly review all our contracts and documentation in consultation with our attorneys to ensure that the terms and conditions are still applicable, that they do not conflict with regulatory requirements and that the business is not exposed to additional or new risks or aspects which are not contained in the existing agreements. Yes, we review and update our contracts and terms and conditions wherever possible, but remain vulnerable to legal risks in a few of our older contracts and documentation. Yes, to a degree – but despite our efforts, we have not been able to get deficient and risky documentation and contracts resigned and remain highly vulnerable as a result. No, given all our documentation and the high number of older agreements and contracts we have in place, this is not practical and as a result we have a high exposure to additional risks as a result of revised consumer and other regulations. No, not at all. We have never reviewed any of our contracts or the terms and conditions in our documentation and have no idea of our documentation and legal risk. 16. Have all the contracts, agreements and key documents for your business been formalised and signed, are all your original contracts and agreements stored in fire proof cabinets, storerooms or in secure off-site facilities and are soft copies of documents backed-up and stored off-site and is this being done for the required periods in terms of regulatory requirements? * Yes, absolutely. We ensure that contracts are in place for all critical areas of our business and do not undertake or commence any work until the required contracts, agreements or terms and conditions have been accepted and signed. All our documentation is well-recorded, backed-up and stored safely off-site. Yes, we try and ensure that all key aspects of our business are covered by solid contracts and agreements. Our documentation is held in fire proof cabinets. Yes, to a degree. We have tried with limited success to formalise a number of arrangements into written agreements or contracts. Documents are stored for the required periods on our premises in our secure storeroom. No, while we have contracts in place, we are also heavily reliant on verbal agreements and undertakings which could have a major impact on the business if they were disputed or not honoured. A lot of our documentation and contracts have been misfiled and will be difficult to locate if needed. No, not at all. We have many unsigned contracts or agreements which have not been concluded with counterparties or where work or the provision of goods and services have already commenced. Our records and documents are largely in a mess. 17. Are you aware of the terms and conditions of all contracts and agreements signed by you or your customers and are there any contracts, undertakings, agreements or guarantees in place which could have a detrimental or material impact on your business/organisation? * Yes, absolutely. Approved and vetted versions of all our legal agreements and documentation, both paper-based and electronic, are centrally controlled. All our contracts, agreements and key documents have been scrutinised by our attorneys prior to signing, and we are fully aware of the terms and conditions contained therein and the potential impact on our business. Yes, we take a lot of care before entering into any contracts or agreements on behalf of the business and try to limit these to key suppliers and service providers only. Yes, to a degree. We have a large number of contracts and agreements and versions of them in place and will get our attorneys to deal with any disputes or issues as and when the circumstances arise. No, not really. There could be a number of our contracts and agreements that have potentially major adverse implications for our business. No, while our contracts and agreements are all stored off-site, there are a number of versions and we are not sure how these will stack up under a legal challenge No, not at all. Many of our contracts are misfiled and we have no idea of the terms and conditions of all the contracts signed by us or our customers and how these may or may not impact our business. 18. Do you ensure that you are complying with the required legislation, standards and environmental controls with regard to emissions, air and water pollution, treatment or removal of waste or hazardous materials, recycling of oils, dumping of waste materials or dumping of chemicals and pollutants? * Yes, absolutely. We are environmentally very aware and are fully compliant with all the regulatory requirements and environmental standards. Yes, we are complying with local regulations and bye-laws, but have not concerned ourselves with formal regulatory requirements. Yes, to a degree. We are endeavouring to do all the right things and are guided by best industry practice. No, we are not aware of all the regulatory requirements that might be applicable to us or our industry. No, not at all. We are non-compliant with any regulations that apply to our industry. 19. Have you assessed what impact climate change is likely to have on your clients or your business/organisation? * Yes, absolutely. We see climate change as a major issue and likely to have a significant impact on our busines, the environment and our customers' lives in the near future and as such this forms part of all our business strategy, planning and thinking. Yes, largely. We can see that we are going to have to adapt and modify our business model to accommodate the impact of climate change. Yes, we are particularly concerned by the likely impact of rising temperatures, declining water resources and drier areas on agriculture, food security, health, and biodiversity, but are not exactly sure what we can do about this. Yes, to a degree. While we have not done anything so far, we can already see a financial impact on our business as a result of climate change impacting heavily on some of our customers. No, we don’t have the time to consider the impact and are relying on other businesses or people to do this. No, not at all. We don’t see climate change having an immediate effect or any impact on our business or customers. 20. Have you assessed the physical threats to your business, assets and staff? Have you done anything to mitigate these risks? * Yes, absolutely. We assess the physical threats to our business and staff on an ongoing basis, have comprehensive insurance cover for all our assets and operations and take all practical steps, specifically around safety and security, to reduce these risks. Yes, we have comprehensive insurance which is reviewed once a year, to protect against natural disasters including fire and floods, accidents, losses (replacement of stolen, lost or damaged assets, debtors or lost data), goods in transit, sabotage, cybercrime, legal claims, business interruption and lost revenue. Yes, to a degree. We have taken general precautions to protect the assets and employees of the business, including some insurance. No, we have not fully assessed the physical threats to our business, but have very basic insurance cover. No, not at all. We are vulnerable to most physical threats to our business and don’t have the resources to deal appropriately with these. Score Score 0 to 29 Your score indicates that there is a lack of Consolidated Risk Management controls and/or discipline that exposes your business/organisation to massive risk. We suggest that you URGENTLY address the issue of risk management generally, and also identify the biggest risks individually and put the necessary policies and programmes together without delay to minimise these risks. Score between 30 and 44 Your score reveals that your Consolidated Risk Management controls and or discipline are weak and expose your business/organisation to significant risk. We suggest you address the area of control risk as a priority and look to make improvements in this area as soon as possible. Score between 45 and 54 Your score suggests there are significant potential weaknesses in your Consolidated Risk Management controls and that this should receive attention as a matter of priority. While an overall improvement may be required, it is also possible that your vulnerability is limited to one or two areas. Score between 55 and 64 Your score suggests you could and should improve your Consolidated Risk Management controls, but that this area probably doesn't represent a massive risk (generally). There may however be some vulnerability in a couple of areas that should be addressed in the reasonably near future. Score between 65 and 79 Your score suggests that you probably have strong Consolidated Risk Management controls and are therefore probably not hugely at risk. We would however recommend that you identify possible areas of weakness and address these in due course. Score 80 and above Your score suggests that you have strong Consolidated Risk Management controls and have therefore greatly reduced your risk in this area. We would still advise you however to identify possible areas of weakness and address these in due course. reCAPTCHA If you are human, leave this field blank. Submit
