Risk management involves perspectives that encompass a broad view or ‘the whole picture,’ rather than being exclusive to environmental planning.
Historical Development of Risk Assessment The adverse health effects of pollution were widely recognized during the industrial revolution.
From this perspective, the paper utilizes Pepsi Company to describe three volatile situations showing how one can apply risk management to resolve them.
The situations are fraudulent activities, which may result into the shareholders losing their long-term investments, as well as health and safety risks for both workers and consumers of the organization.
Even with such ease, such companies face many risks ranging from availability of quality raw material, the process of production, as well as the management of the entire company.
In the current paper, water stands out as an essential raw material accounting for about 75% of the raw materials used in the manufacturing of beverages.
As many incidents have occurred previously, this era introduced a variety of toxicants in overwhelming concentrations that induced significant adverse health effects among human populations.
The rapid increase of industrial markets using substances in production and manufacturing did not come without consequences; waste was a by-product of industrial innovations.
Fraud, as well as health and safety are also other two additional volatile situations that may put beverage companies at risk.
However, the paper focuses on the mechanisms of mitigating these risks particularly in Pepsi Company established in Philippines.