• RIC Chemicals Plc is a family business based in Romford, Essex, which
  exports pharmaceutical products to a vast number of countries including Latvia, Lithuania, Ukraine, Romania, India, Russia, Argentina and Brazil. The business and financial risks are significant and it requires thorough research to understand local trading conditions and find reliable distributors and partners. But that is not all. Inevitably customers find cheaper sources, turnover falls and new customers must be found to replace the lost business. To address these risks, RIC chemicals have developed an 'added value' concept to help attract and maintain a loyal customer base. The company now helps local distributors and partners to develop, register, brand, package and market their own products.

The results: This risk management strategy, based on partnership with local manufacturers, provides a stable customer base for the raw materials and laboratory equipment that RIC Chemicals supplies. It also creates a supplier base for the hospital, health service and over-the-counter pharmaceutical products that the company exports around the world.

• Over 40% of companies studied considered early warning of potential issues could help prevent crises and the associated negative impact on business - reducing knock-on effects on corporate reputation, or noncompliances with market requirements which could force costly product recalls. Source: ERM Research report
• Companies are aware that the public now holds them even more accountable for their environmental, social, and economic activities - and their effects - but less than 30% have programs to systematically identify and evaluate these sustainability-related risks. Source: The PwC 2002 Sustainability Survey
• About 1 in 6 shoppers say that they frequently buy or boycott products because of the manufacturer's reputation. Source: Cowe and Williams, "Who are the ethical investors?"