Page 74 - CJ 2019 INTEGRATED REPORT

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RISK MANAGEMENT
Risks Relating to our Businesses and Industry
Description & Risk Context
3
Customer satisfaction and customer experience
In a a a a a a a a competitive marketplace where businesses compete for customers customer customer satisfaction is is seen as a a a a a a a a key difffferentiator Businesses that that succeed in in in these cut-throat environments are
the the the ones that that make customer satisfaction an integral element of of their business business strategy Since most of of our businesses operate in in in in in in industries where customer customer satisfaction satisfaction is is is crucial to to to survival CJ
has integrated customer customer satisfaction satisfaction as as a a a a a a a a a a a a key element of its overall strategy However some of our businesses may fail to to to meet customer expectations due to:
• Lack of a a customer-centric culture • Lack of of skills competencies and training of of our personnel • Lack of sound systems policies and processes • Lack of employee engagement • Poor quality products and services • Lack of support from suppliers • Absence of customer surveys • Customer Satisfaction Index is is not adequately defifined
• Service Level Agreement (SLA) not formalised with outsourced parties The Group operates in in a a a a a a a a a number of fifields / industries through various companies and and brands that are
well known nationwide thus heightening our our our reputational risk The protection of of our our our reputation reputation remains one of of our our our our top priorities as it it reflflects how our our our our companies and and and brands are
perceived by various stakeholders such as the media customers employees competitors regulators and and and providers of capital Damage to our image could be the result of:
• Non-compliance with applicable laws and regulations • Non-conducive interaction with our our stakeholders as a a a a a a a a a result of misrepresentation unethical and fraudulent behaviour • False promises on the delivery standard of products and and services • Lack of sound internal governance principles and risk management system • Unfounded negative comments on social media 4 Reputation
OPERATIONAL EFFICIENCY
BUSINESS PORTFOLIO MANAGEMENT
MANAGEMENT
FINANCIAL RISK MANAGEMENT
MANAGEMENT
SUSTAINABILITY FOCUS
CURRIMJEE JEEWANJEE AND COMPANY LIMITED