Our approach to risk management is based on identifying key risks which might prevent Nokia from reaching its business objectives. This covers all risk areas: strategic, operational, financial, hazard and fraud risks. It includes political, social, human rights, and environmental risks, which are considered along with other aspects of risk rather than being seen as a separate strand.

We approach risk management in a systematic and pro-active way to analyze, review, and manage opportunities as well as threats, rather than solely eliminating risks.

The principles set out in Nokia's Risk Policy and approved by the Board's Audit Committee require risk management to be integrated into business processes. One of the main principles is that the business or function manager, rather than risk specialists, is responsible for the risks. However, it is everyone’s responsibility at Nokia to identify risks.