Risks

Within the context of its business operations, Barco is exposed to a wide variety of risks that can affect its ability to achieve its objectives and to execute its strategy successfully. To anticipate, identify, prioritize, manage and monitor the risks that impact its organization, we put a sound risk management and control system into place, which is actively supported by the Board of directors.

2021: main risks

Every year in the fourth quarter, Barco performs a company-wide risk assessment and compliance gap analysis. In 2021, that led to a slight reclassification and renaming of certain risks, leading to the following overview:

Risk Trend Material topics Strategic levers
1

Supply chain & 'Nth' party risk

  • Responsible supply chain management
  • Sustainable profitable growth
  • Product quality, safety and security

Focus to perform & Go for sustainable impact

2

Product portfolio & Innovation

  • Innovation management
  • Market reach
  • Innovate for impact & Offer outcome-based solutions
3

Human capital & talent management

  • Employee engagement
  • Learning and development
  • Employee health, safety and wellbeing
  • Diversity and inclusion
  • Focus to perform & Go for sustainable impact
4

Digital transformation & new technologies

  • Innovation management
  • Learning and development
  • Innovate for impact & Offer outcome-based
  • solutions
5

Macroeconomic & geopolitics risk

  • Market reach
  • Focus to perform
6

Product quality

  • Product quality, safety and security
  • Customer engagement
  • Innovate for impact & Offer outcome-based solutions
7

Information security risk

  • Information security and data protection
  • Product quality, safety and security
  • Focus to perform & Go for sustainable impact
8

Data governance and privacy

  • Innovation management
  • Information security and data protection
  • Go for sustainable impact

Risk management process

Risk management is firmly embedded into our processes, at all levels. For every key management, assurance and supporting process, Barco has a systematic risk management approach that consists of five steps: identification, analysis, evaluation, response and monitoring.