Risk Management

Recently, risk management plays significant role and even add value to the company, and risk management system becomes key tool to manage the business. The objective of risk management is to recognize any possible problems before they take place so that risk-handing activities may be planned and evoked as required across the life of product or project to relieve harmful effects on completing objectives. In this report, risk management will be established among the textile industry because the clothing and textile industry is a significant branch worldwide and nationally. Chemical in textiles cause many dimensional risks, including environmental risks, safety and human health risks, and ecosystem risks. However, the one of major problem of textile industry is environmental risks. The mainly objective of this research is identifies and describes insufficiencies in risk management of chemicals in Finland's textile industry. Also appraise and suggest means for its development. In cast study, different structures are combined when solving problems in various contexts. The standards of chemicals in textiles use in textile industry, including REACH Regulation and RAPEX Procedure, as well.

About construction, this report is also shown four main sections. First section indicates textile industry overview and information of textiles. The second section discusses about environmental risks in textile industry. The next section shows the standards of chemicals in textiles. Then, the last section is the development of environmental risks management

I. Overview of Textile Industry

Textile industry is originally concerned with the production of yarn, cloth, and the following manufacture of clothing. The raw materials may be natural or synthetic products of the petrochemical. Nowadays, textiles industry in Finland considered as enormous industrial growth. According to the Heritage Foundation (2007), as Index of Economic Freedom,