RISK MANAGEMENTAND THE PERFORMANCE OF MANUFACTURING COMPANIES A STUDY OF ASABA ALUMINIUM COMPANY IN ASABA

Risk management is a process by which firms identify measure, prioritize and mitigate the adverse effect of uncertainties. This study examined the effect of risk management on the growth of manufacturing companies, a case of Asaba Aluminium Companies. The main objective of this study is to find out the impact of risk management on organization in order to enhance their efficiency, with a particular reference to manufacturing companies. The study adopted descriptive survey, percentage and chi-square for data analysis. A sample of 270 staff of manufacturing companies was used for the study. The result revealed that Management of manufacturing companies lack the basic skills for risk management and employees are left to do their work at the risk of their life therefore bringing down productivity and this has reduce the profitability of most manufacturing companies. The study recommend that for efficient and effective risk management, co-operation, motivation and communication should be made essential and that the risk manager should liaise with the finance and legal managers so as to determine appropriate techniques of risk financing and protection.