As a resilient group of companies that can confidently look ahead in times of crisis thanks to a coherent strategy, we want to position the Tyrolit Group as a pioneer for technical and social development and sustainable corporate action. We have always tried to live responsibility and want to anchor all aspects and the defined points even more deeply in Tyrolit corporate culture.
- Risk management system
The Tyrolit risk management system ensures the company’s success on many levels and encompasses all efforts to determine, mitigate and control risks to the company as a whole. The overriding aim of Enterprise Opportunity and Risk Managment (EORM) is to improve Tyrolit’s prospects of success, by reducing the negative consequences of all forms of risk and by nurturing opportunities. The objective of EORM is therefore to improve corporate value over the long term by reducing risk costs. The importance of this endeavour is underlined by the active involvement of the members of the Board of Management.
- Systematically recording and evaluating opportunities and risks
Under the guidance of a risk manager, the opportunities and risks present in all company departments are determined systematically and evaluated.
- Implementing measures to reduce or manage risks and make the most of opportunities
Existing risks are reduced as much as possible or monitored using suitable systems and processes. Measures to exploit opportunities for the company are implemented. EORM is a comprehensive, company- and world-wide approach that examines all potential risks and opportunities that arise along the value-added chain and in the area of central services, while crisis management clearly regulates which measures, including internal and external communication measures, are to be taken or initiated, if a risk should suddenly and unexpectedly turn into a crisis (e.g. server failure, fire etc). The detailed procedures for such events are defined in the crisis management process.
Those responsible for Tyrolit’s BCM/crisis management are also risk owners of EORM and therefore have a detailed insight into Tyrolit’s overall risk landscape.
BCM/crisis management and EORM are two complementary systems that support each other.