Strategic risk is managed through a strategic planning process. The Supervisory Board defines the overall strategy in the middle of the year within the framework of the Group's corporate vision, and the Group Executive Management uses this strategy as the basis for further strategy work. The balanced scorecard is used as a tool in this work to ensure current follow up on the strategy and the initiatives launched in the business areas. During the year, the strategy is managed in Executive management meetings and meetings to follow up on the balanced scorecard performance by business areas and staff functions.
We also continuously monitor the market to ensure that we have an up-to-date basis for assessing external conditions, be it our competitors' market initiatives, new legislation or other external factors that may impact the Group.
Last update: 07 April 2008