The risk and opportunity management system
Makedonski Telekom AD - Skopje has in place a holistic enterprise risk management system, systematically examining and monitoring all substantial risks that can have adverse effects on reaching its goals, while taking opportunities in a controlled manner and targeting only added-value projects. The aim is to employ sustainable growth and, in doing so, to increase shareholders’, partners and employees satisfaction.
The Company manages risks within an organized framework using defined procedures, including early identification, assessment, management and a risk-monitoring system. The process instigates bottom-up as well as top-down reporting, at least once quarterly and any time upon necessity by means of ad hoc reporting. The risks associated with the Company’s business plan and business developments are assessed prior to realization in order to reach the objectives within a given time and budget, thus maximizing the profit of the investment. Securing business operations is accomplished with the development of business continuity plans, while assets are safeguarded by appropriate Insurance management, integrated within the risk management system, thus combining the risk transfer, mitigation and avoidance.