A total of 93 students from the International Trade and Policy programme attended an engaging sharing session on 19 December 2024, led by Mr. Gavin Clement Fernando, the Head of Trade Marketing at a multinational corporation and one of our esteemed Permata Dunia. The session focused on risk management, with Mr. Fernando sharing his expertise in navigating the complex challenges within the sector.
During the session, Mr. Fernando discussed the various types of risks that companies must manage. These include regulatory risks, as health-related products are highly regulated across different markets, and reputational risks, where companies must carefully manage public perceptions and address concerns about health impacts. He also highlighted financial risks linked to market fluctuations, the introduction of new product lines, and potential legal challenges. Furthermore, Mr. Fernando stressed the growing concern over illegal trading activities, such as the black market and counterfeit products, which pose significant risks to businesses. These illicit activities can undermine brand integrity, evade regulatory compliance, and disrupt market stability, making it crucial for companies to incorporate measures against such risks in their strategies.
Additionally, Mr. Fernando emphasised the importance of strategic risk management frameworks, which involve risk identification, assessment, mitigation strategies, and continuous monitoring. He shared real-world examples of how companies proactively engage with stakeholders—ranging from governments to public health organizations—to address these risks, maintain compliance, and sustain business growth. His insights provided students with a comprehensive understanding of how businesses in highly regulated industries manage uncertainty while ensuring long-term sustainability.
In conclusion, the session offered valuable lessons on the intricacies of risk management, especially in industries facing high regulation, public scrutiny, and illegal trading activities. Students left with a deeper understanding of the critical role that risk management plays in maintaining business success and navigating the complexities of global markets. Mr. Fernando’s experience and expertise left a lasting impression, encouraging students to think critically about the complex interplay of risks, including illicit activities, and opportunities in the international trade landscape.
