Honeywell

Restructuring Risk Management at Honeywell

As a large, multinational manufacturer and distributor of a variety of commercial and consumer products, Honeywell faces a large number of varying risks in its operations. Ranging from financial risks such as changing exchange rates combined with fixed-price future payments to risks more directly associated with operations such as employee liability and a variety of product flow interruptions, the variety and degree of risk exposure Honeywell has necessitates a comprehensive and careful risk management system and strategy that promotes the control of risks and the mitigating of damages (Case, n.d.). The following pages detail a proposed change in risk management strategy at Honeywell, assessing its objectives, its apparent degree of success in achieving those objectives, and an estimation of the cost difference between the old and new risk management programs, concluding with a recommendation for Honeywell as it moves forward in its risk management...
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