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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.
2023: main risks
Every year in the fourth quarter, Barco performs a company-wide risk assessment and compliance gap analysis. In 2023, the risk universe was revised and split into 4 domains: Corporate risks and Environment, Social and Governance (ESG).
The following risks are taken into consideration:
| Risk | Trend | Strategic lever | |
|---|---|---|---|
| 1 | Innovation, new technologies & product portfolio | 1 » 1 |
|
| 2 | Customer experience | New: 2 |
|
| 3 | Product quality & safety | 4 » 3 |
|
| 4 | Talent & career development | 3 » 4 |
|
| 5 | Macroeconomic & geopolitics risk | 5 » 5 |
|
| 6 | Responsible & resilient supply chains | 2 » 6 |
|
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.
