Assignment Overview And Introduction Of Risk Management

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Assignment Overview and Introduction to Risk Management This Risk Management is to assist with the company’s new venture for export of Minining equipment to Ghana (West Africa). This report acts as a Guideline for planning the contractual documentation and obligations to secure and execute the mining equipment export to Ghana. This report details procedures and steps that need to be considered when dealing with an export contract. The intended review team is the Company’s senior management. Equipment Manufacturing companies are always in the line of risk as technology advancement improves every day. An efficient risk management procedure will benefit the project financially, as the health of the project is only as good as its financial…show more content…
2. Export Risk Risks that could be arising with exporting manufactured goods to a particular country must be thoroughly investigated and solutions and procedures must be implemented to mitigate against these risks. This also has an effect on the position of the current strength of the related market demands and profits that can be made in the export market. The following brief description will indicate some of the likely problems that could occur when dealing with exporting manufactured goods. 3. Political risk - This indicates the possibility of risk that the ruling government or political unrest could affect or interfere with export and import regulations. The results could come in many different forms such as collapse in share market and also loss or cancellation of export license, seizure of property etc. This is a possibility where a country may experience political instability. We must monitor the effects of political changes and developments that it has on businesses in the country. 4. Credit and finance risks – This risk deals with possibilities where the customer may default on making payments on time or the customer’s business may go bankrupt. For our company to protect itself against a possible credit and finance risk it would be imperative that we use payment methods which can provide a level of security such as
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