Author: Stephen Miezah
Abstract
Purpose: Risk management being so critical in the growth of any company in today’s world, this research sought to find out the risk orientation and risk management practices of Nestle Ghana Ltd, a multinational company whose business presence is very huge in Ghana. The two products of Nestle used in the study were Milo and Milk, both beverages. The research focused on production risks under the scope of property, personnel and liability risks.
Methodology: The researchers used qualitative approach in this research. They conducted interviews with mostly managerial level personnel and a few factory level personnel. They administered questionnaires themselves as a supplement to the interviews. The researchers were also conducted round the premises of the production floors of the two product lines under study to get firsthand information. Some data was also made available for their perusal.
Findings: The research indicates that Nestle is risk averse therefore has put in place sound measures to prevent some risk events from occurring and to mitigate the losses of some of the unforeseen losses. Their insurers conduct periodic survey of their manufacturing plant and make recommendations. There were nonetheless some issues which the researchers made recommendations on.
Research limitations/Implications: Some data which the research team believes would have been very insightful to the research were not made available for confidentiality reasons. This research would help other researchers to structure and focus their research and improve studies on industrial risk management. It would also help governing bodies in policy and regulation formulation.
Practical implications: Some recommendations were made by the researchers and if remedy is made on them, they would improve the operations of Nestle Ghana limited.
Originality/Value: To the best of knowledge of respondents, this particular research study is the first in the company. This research would be beneficial to Nestle Ghana limited and other manufacturing companies which share some processes in common.
