· Risks and opportunities
- Reliability and completeness
- Strategic focus and future orientation
Sainsbury’s uses a unique format to communicate its risk management approach. The diagram on page 49 maps a series of risk-related strategies, plans and objectives against a timeline. This format provides a simple snapshot of risk management tasks, the timing of those tasks and critical dependencies, including specific resources and related activities. The diagram also highlights which tasks will yield outputs, such as risk maps and registers. The ensuing discussion outlines the role of internal controls. Finally, the ‘Principle risks & uncertainties’ section goes beyond simply stating risk factors to identifying appropriate mitigation strategies.