How can the company mitigate the risks?

Excerpt from ROX's Yearly Report's Assessment Reports Risk description ROX's watch designs are recognizable and may be copied. ROX is a high-end brand that is prone to counterfeit. ROX's long-term viability is highly contingent on the retention of its talented watchmakers. Changes in technology may have an effect on demand for conventional mechanical Watches. Currency concerns - the majority of ROX's expenditures are incurred in Canadian dollars, while the majority of profits are generated in foreign currencies. 9ROX's 2020 Corporate Social Responsibility Report ROX views itself as a responsible business citizen. The board is committed to upholding the highest ethical standards. Health and safety Staff safety is critical. All new staff undergo rigorous safety training. Following that, employees are obliged to engage in formal training tailored to their work. For instance, training is offered to individuals whose professions demand regular manipulation of microscopic watch components to mitigate the danger of repetitive strain injuries. All manufacturing processes are intended to prevent the discharge of hazardous compounds into the air or water and to safeguard personnel from contact with such items. Sourcing policy ROX is made entirely of precious metals and gemstones. All materials are sourced ethically and in accordance with all applicable legal standards. The leather used for watch straps is responsibly obtained from animals that have been raised humanely. ROX's leather is entirely sourced from sustainable species. Energy consumption ROX's production and distribution processes are designed to be as energy-efficient as possible. ROX's facilities are energy efficient, with superior insulation and lighting that utilizes high- efficiency bulbs. All production equipment is current and regularly maintained to ensure no energy is wasted. Employment ROX takes pride in its apprenticeship programme for watchmakers. The majority of ROX's production personnel joined directly from school, and many will stay with the firm for the duration of their careers.The manufacturing process instils pride in the employees by allowing them to contribute to developing a high-quality product. Staff satisfaction is a priority. Management meets with employee representatives regularly. External engagement ROX contributes to a variety of causes. Additionally, the corporation will match monies generated by employees via contributions or other activities. Kindly help take care of 2020 Assessment Reports. 10 marks