Punch Taverns plc 2011 Annual Report

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18 Punch Taverns plc Annual Report and Financial Statements 2011 Operating review continued Our risks and uncertainties continued Our key risks and uncertainties continued Operational and people Risks and their impact Change management Punch is reliant on the successful implementation of change programmes such as Reaching for Growth to deliver both day-to-day operational improvements and our strategic plan. Information systems, technology and security Punch is reliant upon information systems and technology for many aspects of its business, which could cause damage if they were to fail for any length of time. Product quality Punch is exposed to product quality risk in relation to drink which is supplied to us and sold on to our Partners. Supply chain management Punch Taverns places reliance on our key suppliers and distributors to ensure continuous supply of food, drink and other products into our pubs. Punch Taverns is exposed to the risk of interruption or failure of suppliers or distributors, resulting in our products not being delivered on time or to our required standards. People risks Failure to recruit, train and successfully retain successful Partners for our leased pubs, talented managers and Team Players for our managed pubs, and high-calibre people for our support teams may impact the ability to deliver our strategic five-year plan and operational objectives. Mitigating actions and controls > Formal project management processes are used across the business to prepare project objectives and plans and to ensure progress is tracked and results measured. > Major projects are well communicated across the business so that a joined up approach is maintained. > Our Pathway to Partnership change programme is now largely complete, and the focus has moved onto Reaching for Growth. > An incident management and business continuity plan is in place for critical business processes to ensure the business is able to continue operating in the event of a major incident. > The business has effectively tested these plans during the year and made further improvements to them. > We have an off-site disaster recovery facility if access to our support centre, or its systems, is affected. > Safety measures are in place to ensure that product integrity is maintained and that drink products are fully traceable. > Our incident management plan is designed so that products can be recalled quickly if required. > Punch has reviewed the disaster recovery and business continuity plans of our key distributors. > We monitor product quality closely and consider action which may be required to provide substitute products or suppliers if required. > Punch won ‘Sunday Times 25 Best Big Companies to Work For 2011’ status during the year. > We provide industry leading induction training and coaching programmes for our new Partners. > We have improved our succession planning at all levels to ensure we retain high calibre people. > We carry out an annual Employee Engagement Survey and regular listening groups to obtain direct feedback from our employees. > We have a formal remuneration strategy to ensure our teams are paid fairly and competitively.
Punch Taverns plc Annual Report and Financial Statements 2011 19 Risks and their impact Mitigating actions and controls Health and safety A health and safety accident or incident could lead to serious illness, injury or even loss of life to one of our Partners, employees or visitors, or significantly impact Punch’s reputation. > A health and safety management committee meets on a regular basis to consider all aspects of health and safety across Punch and to report to the Board of Directors on the status of health and safety. > We have formally documented and briefed health and safety policies for our support centre and field-based teams and carry out annual risk assessments in key areas. Regulatory Changes in legislation Punch is subject to many different areas of regulation, many due to the high level of control over the sale of alcohol. Increasing focus in areas such as binge drinking, underage drinking, and health impacts over recent years also means that the Government may introduce further regulation which may significantly affect our business. Business review Financial statements Governance > Punch works closely with our Partners and the rest of the industry to address the key issues facing the pub sector. > We actively participate in consultation processes and have attended consultation meetings for discussion of Rebalancing the Licensing Act. > We work closely with the BBPA and other industry bodies and have provided input into the Institute of Licensing’s response to Rebalancing the Licensing Act. > We ensure that our training covers all aspects of licensing requirements and have due diligence in place to confirm that our pubs meet relevant licensing legislation. > Punch works closely with local Licensing Boards, to ensure individual pub licensing requirements are met and any issues are highlighted as soon as possible. For more information visit: www.punchtaverns.com
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