Risk Management - Sanofi Aventis Pte Ltd

Added on - 21 Apr 2020

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Running head: Risk ManagementRisk ManagementName of the Student:Name of the University:Author’s Note:
1Risk ManagementExecutive SummarySanofi Aventis Pte Ltd is affiliated to the global healthcare organization Sanofi. The briefintroduction about nature of business of the organization is provided in this report. Theorganization is a consumer healthcare company which started its operations in Singapore sincethe year 1997. The risk management framework of the organization is structured and flexible toadapt to external situation. In this report, the work process and activity of the organization isstudied. It has been found while conducting this study that the risk management procedure of theorganization for pharmaceutical projects is complex because these projects are associated with ahigh degree of uncertainty.The past activities of the organization are reviewed in the report. Thehazard risks of the organization are emission of green house gases and generation of wastes fromthe manufacturing and packaging of medicines. While analyzing and evaluating the riskmanagement procedures of the organization it has been found that the risks of the organizationcan be categorized into risks related to R& D projects of the organization, the Supply ChainManagement of the organization, operations, finance, human resource and market related risks.Some of the good practices of the organization which are reviewed in the report are training ofemployees about the local laws and surveillance of quality of the products manufactured by theorganization. It can be concluded that organization identifies the risks, prioritizes the risks, andquantifies the value of the risks which help the healthcare company to manage risks effectively.It is recommended that the Supply Chain of the organization should be centralized withinstallation of modern software which will help the organization to supply medicines tocustomers at right time and right place and will reduce the risks related to supply chainmanagement. It is also recommended that the organization should encourage cultural diversityand adopt an innovative recruitment and selection procedure to have a talented pool of
2Risk Managementresearchers and employees who will conduct the R& D projects of the organization. This willhelp to reduce risks related to human resource.
3Risk ManagementContentsCompany and Nature of Business....................................................................................................2Description of Company’s Risk Management Framework.............................................................3Description of Work Process and Activity Selected........................................................................3Review of Past Incidents.................................................................................................................4Hazard-risk Identification................................................................................................................6Risk Analysis and Evaluation..........................................................................................................6Review of Good Practices and Safety Technologies.......................................................................8Conclusion.....................................................................................................................................10Recommendations of Risk Treatment...........................................................................................10Reference Lists..............................................................................................................................12
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