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The strategy of risk management are

●       Establish context. Understand the circumstances in which the rest of the process will take place. The criteria that will be used to evaluate risk should also be established and the structure of the analysis should be defined.

●       Risk identification. The company identifies and defines potential risks that may negatively influence a specific company process or project.

●       Risk analysis. Once specific types of risk are identified, the company then determines the odds of them occurring, as well as their consequences. The goal of risk analysis is to further understand each specific instance of risk, and how it could influence the company's projects and objectives.

●       Risk assessment and evaluation. The risk is then further evaluated after determining the risk's overall likelihood of occurrence combined with its overall consequence. The company can then make decisions on whether the risk is acceptable and whether the company is willing to take it on based on its risk appetite.

●       Risk mitigation. During this step, companies assess their highest-ranked risks and develop a plan to alleviate them using specific risk controls. These plans include risk mitigation processes, risk prevention tactics and contingency plans in the event the risk comes to fruition.

●       Risk monitoring. Part of the mitigation plan includes following up on both the risks and the overall plan to continuously monitor and track new and existing risks. The overall risk management process should also be reviewed and updated accordingly.

●       Communicate and consult. Internal and external shareholders should be included in communication and consultation at each appropriate step of the risk management process and in regards to the process as a whole.

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Stages of risk management are

1. Identify the risk: Anticipating possible pitfalls of a project doesn't have to feel like gloom and doom for your organization.

2. Analyze the risk: Once your team identifies possible problems, it's time to dig a little deeper.

3. Prioritize the risk: Now prioritization begins. Rank each risk by factoring in both its likelihood of happening and its potential effect on the project.

4. Treat the risk: Once the worst risks come to light, dispatch your treatment plan. While you can’t anticipate every risk, the previous steps of your risk management process should have you set up for success.

5. Monitor the risk: Clear communication among your team and stakeholders is essential when it comes to ongoing monitoring of potential threats.

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Risk management

Is the process of identifying, assessing and controlling threats to an organization's capital and earnings? These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. IT security threats and data-related risks, and the risk management strategies to alleviate them, have become a top priority for digitized companies. As a result, a risk management plan increasingly includes companies' processes for identifying and controlling threats to its digital assets, including proprietary corporate data, a customer's personally identifiable information and intellectual property. By implementing a risk management plan and considering the various potential risks or events before they occur, an organization can save money and protect their future. This is because a robust risk management plan will help a company establish procedures to avoid potential threats, minimize their impact should they occur and cope with the results. This ability to understand and control risk enables organizations to be more confident in their business decisions. Furthermore, strong corporate governance principles that focus specifically on risk management can help a company reach their goals. While risk management can be an extremely beneficial practice for organizations, its limitations should also be considered. Many risk techniques such as reliability and accuracy of decisions and plan and vulnerable to overlook things lack of consistent management and lack of open awareness all of them can cause risk management to be not effective.

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The company recognizes that this is a problem and has taken steps to combat it. For instance, it has created a forum for consumers to report instances of counterfeiting, has partnered with Amazon’s Brand Registry program to stop counterfeits being sold on Amazon, has lodged complaints with the International Trade Commission, and has cooperated with worldwide law enforcement to support anti-counterfeiting measures. The company should go beyond these actions, however, and start a serious dialogue with the Chinese government. Nike does have leverage, as it can move its manufacturing out of China and into equivalent options like Vietnam. By requesting that China crackdown on counterfeiting, it can avoid a significant amount of lost sales.

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Finally, They must mitigate its risk in terms of counterfeited goods. Nike faces some headwinds due to the fact that footwear is the most counterfeited category in the world and that Nike is the most counterfeited brand in the world. In fact, according to Business Insider, brands like Nike lose up to 10 percent of revenue due to counterfeits. The biggest counterfeiting culprit is China, a key market for Nike.

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However, They can still do several things, such as the creation of new brands that pursue customer interests beyond Nike’s core image. For instance, partnerships with luxury brands or development of a low-cost alternative. The company can also continue searching for high-potential acquisitions or partnerships. Developing a new competitively-priced brand could reduce price-sensitive consumers’ desire to purchase counterfeit footwear. Some prime candidates for a joint-venture opportunity include Anta and Li Ning (China) and Olympikus (Brazil).

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The most pressing risk involves changes in consumer preferences and demands. As with any consumer business, as consumer preferences and demands can quickly change. This is especially true in the footwear industry (which represented 65 percent of Nike’s revenues in 2018).

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Mission: To fulfill our client's dreams, desires, and expectations, with motivated and satisfied staff, generating results with sustainability.

Vision: To be a benchmark in the market, with brands that are admired and favored in our sectors

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We make the finest footwear for all people.

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About a top-notch footwear that is very comfortable and is sold at a very affordable price using only the finest quality of rubber leather foam and fabric the design of the shoe has a range from minimalistic to a maximalist design. We also have a wide variety of footwear life sandals sneakers to specific or technical footwear like climbing or cycling shoe. We aim to give people an opportunity to make there lives more bearable.