Suitable Risk Management Standards for the Company

To,

The Director

Kraft Glass company

London, Ontario

Canada

Date: September 18,2015

Subject: Suitable risk management standards for the company

Hello sir,

 In my Perspective, The companies should implement various risk management standard. As a globalized company mainly deals with glass materials and their specializations ,the risk is always involved as the use of sand ,limestone and ashes along with chemicals which requires high discretion while handling and usage. In such situations, International Standardization for Organisation(ISO)should be followed. There are various kinds of ISO standards which can be adopted in glass manufacturing sector. Of that, ISO 31000:2009 is the best and efficient of following reasons;

• Suitable for risk operations of the glass manufactures as the standardization for all imports and exports are crucial.
• Best for Identification, Analysing and Evaluation of risks.
• The generic guidelines on risk management are provided so that it is easy to follow up.
• Globally accepted standard which is mainly used for customizing process and to form new frameworks

In a long run, Various global risk management standards can also be adopted such as British Standards Institution (BSI 31100) which they have certain standards and proper goals in achieving perfection to the manufacturing processes involved in the production of glass products. Their objective includes Managing, Supervising, Risk assessment, Organizing structures, Formulating Assurance and achievement of set of goals.

Summing up, Risk management standards qualities should be followed for efficient management of risks such as ensuring safety standards for the labour, Fixing certain Fire & safety measures and promoting Committees all together can help the company to achieve higher goals and can confirm better place in the market.