To establish a comprehensive risk management structure, Arcadyan Board Directors approved Risk Management Policy and Procedure on November 10, 2022. The Policy and Procedure is to create a risk-award culture, assist the management to make informed business decisions and stabilize business operations toward corporate sustainability.
Based on company size, industry type, business characteristics, operation activities, and taking core values of corporate sustainability into consideration, Arcadyan has identified risk factors including strategic, operational, financial, information, compliance, integrity and other new emerging risks (e.g. climate change or infectious disease.) The nature and characteristics of identified risk events are studied, and the probability of the occurrence and impact level are analyzed, and further response measures are planned referring to the risk assessment conducted.
The Introduction of ISO 22301 Business Continuity Management System
Arcadyan Taiwan Headquarters and Arcadyn China Manufacturing Center certificated ISO 22301 Business Continuity Management in 2012 to conduct annual process risk analysis and assessment. Arcadyan assesses the frequency and possibility of risk occurrence every year based on the PPTISSFT (People, Place, Technology, Information, Stakeholders, Suppliers, Finance and Transportation) of key activities, and sets recovery priorities and Incident Management Plan (IMP) and Business Continuity Plan (BCP) to effectively manage any emergencies that may cause disruption to Arcadyan's operations.
In order to comprehensively manage the risks that may affect the continuous operation of Arcadyan Group, in 2022, Arcadyan included AVC Vietnam manufacture center into the implementation scope of the ISO 22301 Business Continuity Management System, and certofied by third-party.
