Company Profile
The TJX Companies, Inc claims to be the largest international apparel and home fashions off-price
department store chain in the United States and worldwide. With more than 3,600 stores in the U.S.,
Canada, Europe, and Australia, TJX has more than 216,000 associates at the end of 2015. As a global and value retailer, TJX’s missions is to deliver great value to their important stakeholders - Customers,
Associates, Neighbors through combination of brand, fashion, price and quality. The company approaches their role as a corporate citizen seriously, always striving to act with integrity, which affects each of their business.
Executive Summary
A beneficial Enterprise risk management (ERM) program would help TJX Company to identify, assess
and prepare for any dangers, hazards and other potentials for disaster. As a worldwide company, TJX
needs to keep a competitive pace to attract ambitious and talented individuals, and teach them with the fundamentals of their off-price model, offer challenging assignments and support career growth. The objective of efficient risk management program is to make TJX build authentic, personal relationships, which makes it easier to compete with the other competitors, increase market value and reach its final goals. For improving and better development of TJX Company, the risk management plan would provide a comprehensive program included operational risk, financial risk, compliance risk, and strategic risk. The company will follow this risk management plan to assess their risks relevant to their companies, prioritize these risks, and make informed decisions on how to handle them. TJX Company has many competitors in the area of home fashion stores. Therefore, ERM for this company should focus not only on the downside of risk but the upside as well. Worldwide companies are always facing much more
diverse collection of obstacles and potential dangers than small companies. After implementing ERM
program, TJX Company will have opportunity to reduce business risks, like obstacles relevant with
system technology, and supply chains and expansions. From kinds of aspects of TJX, the framework of
COSO ERM would be a good choice for company to view risks within its unique strategy, tolerance,
governance, and culture. COSO ERM will provide TJX with a consolidated view of emerging risks,
including that require planning for potential adverse events.