Financial Statements for January 1 - December 31, 2020 GomSpace A/S
Description Impact Mitigation Risk assessment 2020
2. Key personnel
The Company is dependent mainly on
its ability to retain and attract skilled
personnel. Moreover, the Company
depends on hiring and retaining certain
skilled personnel to continue its growth
and reach future success.
Should the Company lose and not be
able to replace any member of its key
personnel, it may interrupt ongoing
projects and other development plans
laid out for the Company.
We ensure that GomSpace is, and
continue to be, an exciting place to
work. GomSpace seeks to offer
employment on favorable terms and to
be located in attractive areas.
We are dependent on skilled
employees with the right competencies
to execute our current project
portfolio.
COVID-19 pandemic has created
uncertainty in the market and
therefore, also concerning job
opportunities. This has lowered the
potential financial impact and the
likelihood of the risk occurring
compared to last year.
3. Risks relating to the quality of the
product
The Company is reliant on its ability to
develop and deliver products of a
certain quality. Even if the Company
deems the products to be of a certain
quality, the customers' demand may
deviate from what the Company is
producing.
Should the Company focus on the
wrong development projects or not be
able to develop its products to meet
market expectations, it may adversely
impact the Company’s business,
financial position, and profits in the
future.
The Quality Assurance department
ensures that quality control is
performed on the products and that
this is registered and monitored on an
ongoing basis.
In 2020, we have been ISO 9001:2015
certificated and thereby improving our
procedure to strengthen our products'
quality.
Quality in our products is one of the
most critical factors for our customers.
To be ISO 9001:2015 certificated is a
step forward for improving quality in
the daily business.
For this reason, the potential financial
impact and the likelihood of the risk
occurring is slightly decreased from last
year.
Management’s review
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