Omantel Risk Management Case

Risk Management

Risk is intrinsic to doing business. Empirical evidences showing that half of small and medium-sized enterprises are closed down before completing their fifth year, it is clear that operating a business can be a risky work. So, the risk management becomes a thing of utmost importance. The value of making an explicit commitment to implementing risk management as a core value is much for Omantel. The leaders of Omantel, risk management is an essential business activity. When these organizational objectives set for Omantel, its managing risk capacity will be enhanced greatly and it will lead to the production of high quality products or services. Notes to the interim consolidated financial statements published by the company on
In other words, strate¬gic capa¬bil¬i¬ties are recognized as impor¬tant in order to cre¬ate and sus¬tain a com¬pet¬i¬tive advantage. In order to have a successful and complete market, a company’s products and services are to be given to the customers with appropriate products in affordable price through appropriate channels and promotions. Although there are many widening obstacles, Omantel showed strong adherence to its operational and financial plan. It maintained the name as the county’s flagship telecom company and expanded its customer base. However, this continued growth is at a much slower pace. strongest asset of the firm is its loyal customers coupled with the better-quality network. Having focused on maximum service delivery, quality and innovation in approaches, the company’s revenue escalate year after year. All these happened because of the strategic implementation done well by the top
The firm takes much care to keep its workforce updated with the skill and ready to face the challenges in the field. They serve the organization fully equipped with the needed skills and knowledge. According to the company’s Management discussions and analysis of 2016, total number of employees in the group (Domestic Operations) as of Dec’16 stood at 2,567 (2,689 in Dec’15). With total number of Omanis of 2,291, compared to 276 Non-Omani employees. The HR initiatives are part of a two-year plan aligned to the company's overall business strategy, which prioritizes customers and employees, digital transformation and innovation. A more business-savvy and agile HR function is one of the four pillars of the new strategy. The HR department at Omantel is made up of 119 employees and was the first to have a plan aligned to the company's