Browsing by Subject "Riskiraportointi"

The importance of risk management for companies has increased significantly in recent decades as changes in the business environment, such as technological advancements and unexpected events like pandemics, demand more effective risk management. Especially international forest industry companies operating in global markets require vigilance and the ability to adapt to environmental changes. The long-term success of companies is strongly related to their ability to identify, assess, and manage risks. The aim of the thesis was to provide understandable information on how and why UPM-Kymmene Oyj (UPM) has adapted its risk reporting and in what context these changes have occurred. The theoretical framework of the thesis, which formed the basis for the analysis phase, was strongly built around Enterprise Risk Management (ERM) literature and frameworks. During the review period, UPM's risk reporting has undergone significant changes, reflecting both the company's strategic decisions and the impact of changes in the operating environment. Risk reporting has mainly evolved and increased over the years towards a more comprehensive approach to risk management. There are no significant shifts observed in UPM's risk management through risk reporting, reflecting the company's stability and long-term perspective. Further research could investigate the development of risk reporting in other companies operating in the forest sector, which would provide a more comprehensive understanding of sectoral changes and allow for comparison between companies. A broader sample could also clarify whether UPM's reporting changes have followed others, followed mainstream practices, or if the company has been a pioneer in the forest sector.