Risk Identification and Assessment Tool for Fischer Tech Limited Singapore
FISCHER TECH LIMITED
Adriel Timothy Lim
1.OVERVIEW OF CASE
1.A Background
Fischer Tech Ltd is a Singapore home grown company, founded by Mr. Choon King Tan, and established since June 1994 is a specialist manufacturer of high volume precision engineering plastic components for new electronic product innovations.
The company owns injection and molding machines both hydraulic and electric type to undertake these challenges. The Company ultimately operates in two segments:
1. High-precision plastic injection (plastic injection),
Manufactures plastic components, which are used in the automotive, smart phones, computer peripherals and consumer product industries.
2. Mold design and fabrication (tooling).
Manufactures molds, which are used in the manufacture of plastic injection components.
Fischer Tech listed at Singapore Stock Exchange last July 2011. At January 2003, the company re-certified ISO 9002: QS 9000. The company manufacturing facilities are located in Singapore, Malaysia, Thailand and China, in addition to that, sales offices located USA, Japan, Germany and Taiwan (Fischer Tech Limited 2012).
The customers of Fischer Tech Ltd are world well known companies diverse in range of industry segment.
1.B Organization structure
The quality of an organization always starts on the top. This means that senior management and the board of directors must the initiative for being knowledgeable and aware of the risk management activities the firm engages in. In order to have this, an organization must have a structure conducive to the proper practice of risk management (Chance 2008).
Current Management Chart and the Group Organization Structure are shown at the Appendix.
2. OBJECTIVES
2.A Mission of the Business:
Mission:
Strive to meet stringent customer demands and needs by developing cost effective solutions and new technological processes to cater for new sophisticated product demands.
Vision:
Strive to become a
Adriel Timothy Lim
1.OVERVIEW OF CASE
1.A Background
Fischer Tech Ltd is a Singapore home grown company, founded by Mr. Choon King Tan, and established since June 1994 is a specialist manufacturer of high volume precision engineering plastic components for new electronic product innovations.
The company owns injection and molding machines both hydraulic and electric type to undertake these challenges. The Company ultimately operates in two segments:
1. High-precision plastic injection (plastic injection),
Manufactures plastic components, which are used in the automotive, smart phones, computer peripherals and consumer product industries.
2. Mold design and fabrication (tooling).
Manufactures molds, which are used in the manufacture of plastic injection components.
Fischer Tech listed at Singapore Stock Exchange last July 2011. At January 2003, the company re-certified ISO 9002: QS 9000. The company manufacturing facilities are located in Singapore, Malaysia, Thailand and China, in addition to that, sales offices located USA, Japan, Germany and Taiwan (Fischer Tech Limited 2012).
The customers of Fischer Tech Ltd are world well known companies diverse in range of industry segment.
1.B Organization structure
The quality of an organization always starts on the top. This means that senior management and the board of directors must the initiative for being knowledgeable and aware of the risk management activities the firm engages in. In order to have this, an organization must have a structure conducive to the proper practice of risk management (Chance 2008).
Current Management Chart and the Group Organization Structure are shown at the Appendix.
2. OBJECTIVES
2.A Mission of the Business:
Mission:
Strive to meet stringent customer demands and needs by developing cost effective solutions and new technological processes to cater for new sophisticated product demands.
Vision:
Strive to become a
References: Byrnes, Steven E., Christine Williams, Samir Kamat, and Suresh Gopalakrishnan. 2012. "Making the Case for an Enterprise Risk Management Program." The Journal of Chance, Don M., and Robert Brooks. 2008. An Introduction to derivatives and Risk Management Fischer Tech Limited. 2012. Annual Report. The Internet. Hitch, Scott E. "Environmental Law Update." Probate and Property 25, no. 4 (2011): 45- 47 International Electrotechnical Commission. 2009. International standard: Risk management-Principles and guidelines (ISO/IEC ISO 31010:2009) Kotler, Philip. and Kevin Lane Keller. 2012. Marketing Management. 14ed. US: Courier/Kendallville. Share Investor. 2011. Fischer Tech Factory Thailand shut down. Stuart, Helen. 2002. "Employee Identification with the Corporate Identity." International Studies of Management & Organization 32 (3): 28-28 Stulz, R. M. (1996), RETHINKING RISK MANAGEMENT. Journal of Applied Corporate Finance, 9: 8–25 Tolentino, Amado. 2012. "NGOs and Business for Sustainable Development - an Inevitable Partnership." Environmental Policy and Law 42 (1): 43-45 United States of America. 2012. Chemical Industry Classification http://selectusa.commerce.gov/industry-snapshots/chemical-industry-united-states Partner in charge (since financial year 2011): Tan Swee Ho