The Bridgestone Group broadly divides risks into two categories: business strategic risks, which are related to management decision-making, and operational risks, which are related to daily operations. The former is handled through business operations, while the latter is handled by the Chief Risk Officer (CRO), who has overall responsibility for managing risks and reports to the CEO.
Bridgestone strives to comprehensively and appropriately manage risks common to the Group, while taking the business scale and characteristics of each site and Group company into account. Through the dual promotion of region-specific autonomous and group-wide risk management, Bridgestone identifies, prevents and mitigates risks, and formulates Crisis Management and Business Continuity Plans to enable appropriate support for the continuation or resumption of business.
The Business Continuity & Risk Management Working Group was established in 2016 under the jurisdiction of the Global CSR Enhancement Committee (GCEC). The working group, which is made up of members from each Strategic Business Unit (SBU), manage and update the Bridgestone Group’s Global Risk Management Policy, and oversee our corporate risk management, crisis management, and business continuity systems. To achieve this mission, the working group is undertaking five key initiatives:
•Refine and standardize the annual risk identification process across the Group;
•Create a global definition and framework for crisis management and business continuity;
•Enhance the risk management role of emergency action reports;
•Develop an enterprise travel risk management program; and
•Formalize the process for cross-SBU support in crisis management.
The WG’s deliberations and efforts are guided by ISO 31000, the international standard for risk management.
In 2018, the Bridgestone Group focused on three aspects of risk management important to our efforts to be a truly global company. They include: