More generally applied to the companies, the risk management attempts to identify the Risque S which weigh on the credits of the company, its values in the broad sense, including, and can be even above all, on its personnel. One generally distinguishes two categories of credits: the financial ones and not the - financial ones.
The managers of undertakings have the role of making their exploitation viable (to balance the loads with the resources) to even develop it (resources higher than the loads = production of richness). The result obtained will enable them to survive (null result) to even ensure perenniality of it by developing it (positive test).
Beyond the financial management of the risks and cleavage financial risks/not - financial, the thorough analysis of the risks of the company imposes a wide Veille which can be assimilated to economic Intelligence. This prevention of the risks weighing on the credits leads to each time establish grid of the risks with targeted days before adapted to each type of risks (political, legal, social, environmental, etc). The phenomenon of cause for purpose is increasingly delicate to analyze with the effect Systémique which from now on the financial Mondialisation can present and open or globalized economy.
Any economic activity involves Risque S, that the leaders owe Gérer and above all to evaluate. For that, it is necessary to identify them then to reduce them to the minimum, to financially assume the load of those which they will consider acceptable (according to the size and of financial capacities of the company), to treat by thirds according to processes of Externalisation the risks related to certain activities, and finally to transfer certain risks near professionals from the Assurance who will ensure a financial guarantee.
The identification of the Risque S passes today by the comprehension of the Cycle of management, which integrates the Partenaire S upstream and downstream (customer S and Fournisseur S), but also, in a Environnement in complex Interaction with the Entreprise, the others Recipients (Banque S, Civil society). Accordingly, the evaluation of the risks also passes by a Analyze of the life cycle of the products.
This step of analysis and systematic identification is rather traditional in the world Industriel: maritime, Nuclear aviation, , tanker, chemical industry… but that does not eliminate completely the Risque (see the explosion of factory AZF to Toulouse). It also develops in the field of health, and more precisely in the health care institutions, public or private, where the medical Vigilances and risk management became indissociable step quality.
On the other hand, the analysis of risk is much more recent in the field of the Gestion and the economy, which was relatively isolated because of absence (apparent) of direct Risque S on the human Vie. In addition, there exists, inside the Entreprise S, a certain disconnection between the field of the pure Gestion, and that of the Industrie, but the bonds exist nevertheless, since all large the Entreprise S Industrielle S owes Gérer their activity, and that is done today using the Business computing. In addition, the Knowledge management tends to today make fall the borders between the Gestion and the pure Technique, since it is interested in the Connaissance S and the Compétence S of the Entreprise.
The risk of the large company at SME
In the large companies, one finds teams specialized with the head of which work a manager of the risk or risk to manage . It thus has vocation with Gérer the Risque S of the company which employs it.
For SME, " the companies of intermediate size are worried still little about risk management. According to a study of the cabinet of Mazars audit, which questioned approximately 200 companies posting of the turnovers of 100 million to a few billion euros, the risks which worry them more are those which can involve a sanction of the customer, follow-ups of the technical or operational risks. Come then industrial, legal, tax risks and informatiques." (the Echoes 5/9/2007 " The risk management also settles in the companies of size moyenne").
Whatever the size of the company, each type of risk requires an appropriate response with external and/or internal dedicated human resources. One saw, with the data-processing Passage to the year 2000, which it was necessary to set up in the companies of the teams specialized in the risk management under the angle of the Business computing. Today, the questions of Responsabilité sociétale for the companies require, in the same way, the taking into account of a total Risque, with respect to the Civil society (impacts of the activity, risks related to the defective products, etc,), the dematerialization imposes an attentive leader salary.
Strategies of risk management
One distinguishes four manners of managing the risk, by ascending order of cost:
the reduction of the risk:
has operational title and economic, this transfer is carried out when the company sub-contracted the activity at the risk in a form or another (direct subcontracting, in cascade, Co-treatment, Externalisation or Outsourcing); a serious and qualified subcontractor will be able to make pay his service very expensive but to as show as it manages best the risk for a price are equivalent even lower, and the recourse to a subcontractor not qualified or scornful of the risk will make run a risk even greater.
Credits not - financial
They are the credits “not circulating” or immobilized company: buildings, vehicles, machines,… to which is added the personnel employed within the framework of the activity including under treating (see the responsibility for the social agents)
The management tools of the Risque are
- the Prévention (what supposes the preliminary evaluation of the risk,
- the Diversification of the risks,
- the Assurance, which covers only the Insurable risk,
- And in financial matters, certain tools making it possible to transfer the risk to operators willing to take it, (either with a view to speculation, or to cover an opposite risk).
- the Covering of the risk (also called “hedging”) by the use of contracts Derived S
- the Securitization , i.e. the transformation of the risky element (for example a credit) into marketable security. Securitization makes it possible to get rid of the risk by transforming it into " papier" and to resell it.
The principal risks related to the detention of financial credits can be listed and generally cover four risks, namely:
the Risk of counterpart or actions, it is the risk which the part with which a contract was concluded does not hold its engagements. (delivery, payment, refunding, etc)
the Risk of rate , it is the risk of the loan-loans. It is the risk which the rates of credit evolve/move unfavourably. Thus if you are borrower atfluctuating rate, you are in risk of rate when the rates increase because you pay expensive. Contrary, if you are lender, you are in risk of rate when the rates drop because you lose incomes.
the Exchange rate risk , it is the risk on the variations of the courses of the currencies enter they. Risk appreciably related to the factor time.
the Risk of liquidity , it is the risk on the facility to buy or resell a credit. If a market is not liquid, you are likely not to find of purchaser when you want it or not to find of salesman when you need some absolutely. It is a risk related on the nature of subjacent (of the goods) but also to the credibility of the purchaser-Salesman. Indeed, it is easy to buy or sell a product running with a counterpart of confidence, but more difficult with a very specialized product. It is the liquidity of this product. Moreover, if the purchaser/salesman are not credible, the risk of counterpart for the possible suppliers/customers, dissuades them to treat. The purchaser/salesman is in risk of provisioning; in risk of " Liquidity ".
There are other risks but the majority approach these. For example, one speaks about Risque country . If a country then undergoes a very serious crisis (war, revolution, bankruptcy in cascade, etc) even the companies of confidence, in spite of their credibility will find themselves in difficulty. It is a risk of counterpart related to the environment of the counterpart.
The release of one of these risks at the local level can involve various types of crises total S
Communication of the companies as regards risks
For the companies with dimensions subjected to increasingly heavy obligations of financial communication, the experts estimate with the stock exchange authorities that this communication arrived at " maturité".
This topic is systematically approached in the reference documents, witness of a total management of in-house risks (Enterprise Risk Management).
If the screen varies according to the duty applicable to the company, the French companies with dimensions in Paris following the grid of the Autorité of the Financial markets which defines five headings:
legal financial risks
- industrial risks and environmental risks
- other risks
- Insurance S and coverings of
The degree of information can in all the cases vary according to the family of risks considered, the sectoral profile of the company, the typical character of its trades, products and services and of its geographical presences.
For the companies not - dimensioned, their financial capacity will be often given in the light of their profile of risk to which more simplified screen is rather close to that of the companies with dimensions.
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