JIT2 Task (A)
Risk Management Register:
Risk | Description | Owner | Source | Likelihood of Occurrence* | Severity of Impact* | Controllability* |
Macroeconomics Risks | Economic downturn could pose risk to sales development. | Accounting Team/Sales Team | Poor economy, not enough jobs, people not purchasing as much | High | High | Low |
Consumer Demand Risks | Not being able to respond to consumer wants/demands quickly enough, leading to short-term revenue loss | Marketing Team | Consumer interests change, other companies offer newer/better product | Medium | Medium | Medium |
Industry Consolidation Risks (bargaining power) | Decreased bargaining power, price wars, inflated discounts, limited space within retailers |…show more content…
Consumer demand risks for this group occur because as product demands change, it takes the company on average 12 to 18 months to obtain new products. If consumer demand changes too quickly, this can result in revenue loss. Over a period of time, if the consumer demands are not met in a timely fashion, this can be detrimental and critical to Adidas Group. Industry consolidations risks result in decreased bargaining power and price wars. It could also lead to inflated discounts on Adidas products as well as limited space within the retailers. This risk comes from market consolidation and strategic alliances. Political and regulatory risks- trade policies in particular, stem from restrictions on importing, tariffs, and other factors that could influencing or disrupt the free flow of goods within the company and other vendors. There are several sources that legal risks could come from. The main legal risks that the Adidas Group is faced with are patents and third-party trademark infringement. With so many competitors in the same industry, they must be careful not to raise concern for risk. Risks from product counterfeiting and imitation come from brand and design theft. Social and environmental risks for Adidas Group refer to the company’s responsibilities to their employees, vendors and the environment in which they provide.
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JIT2 Task (A) Risk Management Register: Risk | Description | Owner | Source | Likelihood of Occurrence* | Severity of Impact* | Controllability* | Macroeconomics Risks | Economic downturn could pose risk to sales development. | Accounting Team/Sales Team | Poor economy, not enough jobs, people not purchasing as much | High | High | Low | Consumer Demand Risks | Not being able to respond to consumer wants/demands quickly enough, leading to short-term revenue loss | Marketing Team | Consumer
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