Risk Management System: JD Sports Fashion PLC.

Organizations and industries experience the impact of underlying risks. Whether political, market, financial, environmental, operational, competition, management, or legal risks, they could cause significant impacts on a business if not properly managed. Risk management entails pointing out the possible risks, assessing and analyzing the potential risks, and designing a risk management system to mitigate or reduce the potential impact. Therefore, risk management is a continuous process, and the organization has to monitor its operations to identify potential risks and come up with management strategies to avoid acting reactively. A risk management system involves five steps: risk identification in the organization processes, risk analysis by designing a framework based on operations, ranking and risk evaluation to define assessment tools, determining the relevant tools using the PESTLE technique, and monitoring review to enhance continuity. The various steps of designing and implementing a risk management system can be applied in the JD Sports Fashion PLC company to enhance the company's sustainability.