The Role of the Risk Committee in Coming up with Strategies Overcome Challenges Posed by Multiple Currency System and Exchange Risk in the Manufacturing Industry in Zimbabwe

This write up is on the role of the risk committee in coming up with strategies overcome challenges posed by multiple currency system and exchange risk in the manufacturing industry in Zimbabwe. It has been noted that manufacturing organizations such as Lobels, Olivine industries, Cairns foods, Surface Wilmer and Dairiboard Zimbabwe have been affected by multiple currency system and exchange risk in their operations. This write up will present literature review in regards to the role of the risk committee in coming up with strategies overcome challenges posed by multiple currency system and exchange risk in the manufacturing industry in Zimbabwe. The researcher adopted mixed research strategies, pragmantism research philosophy and exploratory research design. In this write up the researcher used a sample size of 132 respondents through a stratified sampling technique. This write up established that manufacturing organizations have managers who are well educated and these managers understand all risks which affect their operations. Understanding the dangers concerned with shielding company property essential. In this write up it was observed that the organization use various models such as risk identification, qualitative risk analysis, quantitative risk assessment, risk response planning, risk response planning and risk monitoring and control. Manufacturing organizations in Zimbabwe use risk practices such as risk avoidance, customer credit risk management, elimination of contract risks, industry specific strategies, strategic risk management and safety risks. It was noted that there are many causes of losses in manufacturing organizations such as theft, fraud, corruption; poor governance structures and bribe are the major causes/drivers of loss in manufacturing industries in Zimbabwe