Securing future returns - Smiths Group plc


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In delivering our strategy, it is important to understand and manage the risks that face us. We achieve this through our embedded risk management approach, combining a top-down strategic view of risks with a bottom-up divisional process.

How we manage risks

Running any business involves constant risk management. It is an integral and often implicit part of day-to-day operations.

For the purposes of review and assessment we draw out the principal risks and uncertainties using the Enterprise-wide Risk Management (ERM) process.

The ‘three lines of defence’ approach is an industry-recognised best practice model supporting ERM and an effective controls framework. It can help increase clarity regarding roles and responsibilities and improve the effectiveness of risk management systems. It is a model we have adopted.

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Smiths Group divisions:

John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect, Flex-Tek

Smiths Group plc:
Registered office 4th Floor, 11-12 St James’s Square, London, SW1Y 4LB
Incorporated in England No. 137013
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