Business risks are inevitable in any business venture. From economic uncertainty to market volatility, there are a variety of risks that can negatively impact a business’s success. In today’s dynamic business environment, staying informed about potential risks is crucial for any entrepreneur. One way to stay informed is by reading business articles that focus on business risks.
Business articles that focus on business risks provide valuable insights and analysis on the potential challenges that businesses face. They offer information on the latest developments and trends that could impact a company’s operations, financial performance, and reputation. Such articles often cover topics like emerging risks, regulatory changes, cybersecurity threats, and global economic trends.
Reading business articles on business risks can help entrepreneurs identify potential threats and develop strategies to mitigate them. For example, if an article highlights the risk of a cyber attack, a business owner can take proactive steps to strengthen their cybersecurity measures. If an article warns of a regulatory change, a business owner can prepare for the impact and adjust their operations accordingly.
Additionally, business articles on business risks provide a platform for experts to share their insights and opinions. These experts may include risk managers, business leaders, and academics who specialize in risk management. By reading their perspectives, business owners can gain a better understanding of how to manage risks effectively.
Business articles on business risks can also provide a competitive advantage for businesses. By staying informed about potential risks, entrepreneurs can position their business to be more resilient and agile in the face of unexpected challenges. This can help them to seize opportunities that their competitors may miss, leading to increased revenue and market share.
Staying informed about business risks is critical for any entrepreneur who wants to build a successful business. Reading business articles that focus on business risks can provide valuable insights and analysis, helping business owners to identify potential threats and develop effective risk management strategies. By doing so, they can position their businesses to be more resilient and competitive in the face of uncertainty.
Work with us to grow your business faster with less uncertainty
How business leaders can get help and support for business protection and growth
Your business can get advice, help and knowledge or business intelligence to solve most problems. Do you ask others for help to improve your business? Entrepreneurs and business leaders are usually ambitious, independent, and optimistic—and often don’t like asking for help. However, an opportunity to quickly and practically explore potential business solutions can save you time and money.
Few people, if any, have all the best answers to common questions that need answering in a practical pragmatic way. If one solution doesn’t work for you, come back for ideas to inspire you to solve your business problem in a different way. Be positive. By finding out what doesn’t work for your business you are one step closer to finding out what will work.
If you come up against a hurdle to your business success, jump over with the help and support of BusinessRiskTV.
Why is it important to ask for help in business?
Perhaps encouragingly, because if asked people tend to want to help. If you don’t find the complete business solution to your business problem, you may find one piece of the jigsaw that is a catalyst to inspire you to complete the rest by yourself.
How do I ask for help with my business?
There are a number of ways. Some are free to BusinessRiskTV subscribers. Others are only for our members.
Click On Image
Our service creates many opportunities for you to protect and grow your business faster with less uncertainty holding you back.
How do you politely ask for help?
We don’t have to work in isolation. You can get help and support for your business from BusinessRiskTV membership. In addition, we facilitate collaboration with other business leaders near you and globally, so you have opportunities to ask other like-minded business leaders how they have already overcome your business hurdles. If you ask politely, respecting their need to solve their own business problems, you will find they can offer insight into how you can improve your business, from their experience of managing their business risks.
Asking for help can lead to business growth
A balanced business risk management strategy should not just look to stop bad things happening to your business. Your business risk management strategy should explore the best business growth opportunities to help you figure out how to expand your sales profitably faster.
We offer a range of opportunities to members to enable them to explore business growth when they want to.
Complex businesses can still be improved by simple practical ideas
The best way forward for your business may not be too complicated with a different look at your problem. Sometimes a different perspective of your problem from fresh eyes can unplug the blockage to your business successfully achieving your business objectives.
Are you nurturing new business relationships?
Talking online to like-minded people can be enormously rewarding. Even if your talking more to other business leaders does nothing more than confirm your own thoughts for best business solutions for your business, it is worth investing in talking more.
Are you making the most of tour investment in your current business relationships? Maybe by inviting them into our circle of like-minded business people you can help your existing business relationships produce more for mutual benefit. For example, our business risk management tools can help you and your existing business relationships identify new business development opportunities for mutual business growth.
Asking for help can be good for your business
We are sure you are ambitious for yourself and your business. Ask others for help, and broaden your network to get it. Seeking advice support and tips from new mentors, peers, partners, suppliers and even new customers can help you to help yourself and them. Examples include but not limited to:
Mentors – want the satisfaction of helping others. You can give them a new opportunity to do so by helping your business.
Peers – can be your competition, but you may not be competing in the same marketplace. Peers in USA may not be selling in UK so happy to help you in UK. You may even discover opportunities to collaborate to cross-sell into each others market with reciprocal support.
Partners – new business partnerships, formal or informal, can be formed to explore business growth for mutual benefit.
Suppliers – may be itching for you to buy a better product they offer but a failure in communication means both you and your suppliers are missing out on faster business growth.
Customers – you may not have truly understand what they need and you have only scratched the surface of your potential working relationship.
A little more trust and transparency can be derived from better communication. We aspire to improving business risk management communication between all stakeholders in a business including the above stakeholders.
Find new innovative ways of doing business with BusinessRiskTV.
Do you have unsold stock at end of month or unused service capacity?
Are you open to new business development ideas?
Are you prepared to pay a small monthly membership fee to access services aimed at overcoming your business problems including business growth hurdles?
There is a finite amount of stuff available that people and businesses want. It is difficult to manage the risks of accessing, sharing and using limited resources. The problem of scarcity and choice lies at the heart of our immediate and at least medium term business risks and lifestyle quality. Scarcity requires choice from buyers and sellers.
How can we work together to overcome the problems of scarcity
How can we work together to overcome the problems of scarcity
Basic Economic Problem Solution
Working together to grow faster and shelter from bad risk events is the only way to survive and prosper in an increasingly dangerous world.
Increase your chances of success with BusinessRiskTV Risk Management Experts Webcasts
How can I develop my risk management knowledge and business intelligence
BusinessRiskTV regularly hosts free risk management webcasts run by risk expert trainers for your country or industry. The risk management webcasts are free to attend from any device you normally use to access key business risk information and business intelligence. Develop your risk knowledge and business risk management skills.
Develop your risk knowledge, business intelligence and business risk management skills with Pro Risk Manager service. Our Pro Risk Manager Service will help you explore the evolution of holistic enterprise-wide risk management in response to the ever-developing world of risks.
Subscribe to BusinessRiskTV.com for free
Risk Management Experts Webcasts Series
Enterprise-wide risk management educational risk management webinars and risk management workshops designed to explore common challenges business leaders face every day. Solve corporate governance, business risks and compliance (GRC) issues quicker and cheaper with help from our Business Experts Hub participating in online risk management webcasts.
Surely we are not going to swing from fastest economic growth to economic depression?
Business Strategy During Recession
Subscribe to BusinessRiskTV.com for free alerts to latest risk management articles videos and workshops. Connect to risk management experts locally and globally.
How do you recession-proof your business?
How can we protect from inflation?
How to prepare for inflation at home?
The impact of recession on businesses is severe. However inflation can be the precursor of a recession. Central banks are charged with the responsibility of keeping inflation under control partly to ward against recession or depression. Healthy inflation is generally regarded as 2 percent. Many countries are experiencing at least 3 times healthy inflation. Some key economies are experiencing much more than that just now. In other words the biggest economies are suffering from very unhealthy inflation levels. Most central banks have not responded fast enough and should gave started increasing interest rates earlier to control inflation. Some have not even started to control inflation. The long-tail effect of increasing interest rates means that for next 6 months at least inflation will remain out of control. The war in Ukraine may even mean inflation is uncontrollable for years. Out if control inflation leads to a recession at best and depression at worst!
Now is not the time to pat yourself on the back. Surviving pandemic was good, but the next existential threats to your business are already here or rushing towards you.
Rising inflation means that consumers and business decision-makers have the same money but it doesn’t go as far as it once did. The end result is that they buy fewer products and services. Inflation is a driver of a recession. Back to back crisis’s caused by pandemic, war, fuel, energy, fertiliser and food shortages or rising prices could result in extended global recession that turns into a global depression. The global pandemic caused the deepest recession since the Second World War and the world has used all its tools, including record low interest rates and extended Quantitative Easing QE, to scramble back out of the recession. However it means the world is particularly vulnerable just now – with economic risk management tools exhausted or trying to recover.
What Can Governments Do To Reduce Inflation
Reducing Inflation Strategies
Inflation is the sustained increase in the general price level of goods and services in an economy over a period of time. It can be caused by a variety of factors, including rising costs of production, increased demand for goods and services, and monetary policy decisions made by central banks.
Governments can take several measures to reduce inflation, including:
Monetary policy: Central banks can raise interest rates to curb inflation. Higher interest rates make borrowing more expensive, which can slow down economic growth and reduce demand for goods and services.
Fiscal policy: Governments can reduce government spending and increase taxes to slow down economic growth and reduce demand for goods and services.
Price controls: Governments can impose price controls on certain goods and services to keep prices from rising too quickly. However, this can lead to shortages and reduced incentives for producers to supply goods and services.
Supply-side policies: Governments can take steps to increase the supply of goods and services, such as by investing in infrastructure and education, and by reducing regulations that limit the ability of firms to produce goods and services.
Flexible exchange rates: Governments can allow their currency to fluctuate in value against other currencies. A stronger currency will make imports cheaper and can help to reduce inflation.
Price stability target: Central banks and governments can jointly agree on a target for inflation, and use monetary and fiscal policy to achieve that target.
It’s important to note that reducing inflation is not always the best course of action for an economy. Sometimes, a moderate level of inflation can be beneficial for economic growth, especially in developing countries. It’s important for governments to weigh the costs and benefits of different policies to reduce inflation and make the best decision for their economy.
Many central banks have an inflation target of between 2 percent and 3 percent – seen has healthy level of inflation
BusinessRiskTV
In conclusion, governments have several tools at their disposal to reduce inflation, including monetary and fiscal policy, price controls, supply-side policies, flexible exchange rates, and price stability target. However, it’s important to consider the costs and benefits of each policy before implementing them.
Strategies for business survival during a recession
Businesses fold quickly during a recession. Before you know it, you are losing both suppliers and customers. Both can damage your business and even threaten an otherwise successful business survival. Set a Key Performance Indicator KPI to help you monitor your risk management in this area of your business. A Key Control Indicator KCI could be that no more than 10 percent of your key supply’s come from any single supplier. Likewise a KCI could be that no more than 10 percent comes from a single customer. If you stick to your KCI then the failure of any one customer or supplier is not going to pull your business down with their failure to manage recession risk.
What you set your KCIs at will vary depending on your financial strength, type of industry and current resources. You may never hit your KCIs but they flag up when action is needed or your progress towards better recession risk control.
Expanding your customer base is not just about expanding your business. It is about protecting your business from loss of business. Expanding your suppliers could increase the overall cost of supply during good times thereby limiting your profit. Your management team needs to decide what level of risk you are exposed to, the type of risks and your appetite and resilience to risk.
We are moving from pandemic survival to rapid business development. If you focus your energy on growing your business faster organically with new customers you can ride the economic wave through the various threats to your business.
Just before a business falls flat on its face it can seem that the world was its oyster! The world seems to be dragging itself out of the economic damage of a global pandemic. We are seeing economic expansion at or near record rates across the world. Wages are rising and many countries have unfilled job vacancies galore! What could go wrong? Answer is out of control inflation turning into a recession and high unemployment.
The world has shot its bolt. Due to the economic impact of the global pandemic central banks have slashed interest rates to the bone and in a few cases into the bone! There is no wiggle room left to cope with another economic disaster. Trouble is nobody told our political leaders and they have led us into the next economic disaster on back of an inflationary crisis on back of war, food crisis and energy crisis. You wait for a financial crisis to come around every 10 years then several come along at once!
Inflation may have given you a good opportunity to inflate your prices. The good times are slipping away. Your pricing model may have brought in easy money that will be useful. Times are changing and you may think that new opportunities are appearing for business growth.
Stay on top of your business changing needs:
Profits are cut due to rising costs due to inflationary pressures. Make sure you focus on market prices to seize opportunities appearing in your marketplace. Instead of raising your prices think about reducing your costs or making your offering more attractive to new customers.
Cash is king now! Take steps to improve or maintain cash flow. Pay later and get paid quicker.
Win new customers. Make sure you your marketing and sales development budget is working hard for you.
As interest rates rise there will be bargains. Minimise your outgoings. Reduce your overheads.
Hopefully you took advantage of cheap money. However the days of cheap money have passed or are passing. Now is the time to think about paying off debt. The rising cost of debt could pull down countries never mind companies! Make sure your business is not wasting profit on back of your cost of debt. Controlling your costs will help you to be more competitive in tightening marketplace.
World central banks need to act more quickly and more aggressively to calm inflation rates around the world to prevent a global recession and perhaps even global depression from 2023 onwards. This includes increasing interest rates and increasing interest rates in bigger leaps and bounds.
A healthy level of inflation is generally considered to be around 2% per year.
Why 2 percent?
2% inflation per year is considered healthy because it allows for some economic growth while still maintaining stability in the purchasing power of money. It is a rate that is low enough to prevent rapid changes in the cost of goods and services, but high enough to encourage investments and borrowing. However, the specific level of inflation that is considered healthy can vary depending on a country’s economic conditions and goals.
Who thinks this?
The idea that 2% inflation is a healthy level is widely accepted among central banks and economists. This is because it provides a balance between stable prices and economic growth, and has been found to be compatible with low unemployment and stable financial markets in many countries. The Federal Reserve in the United States, the European Central Bank, and the Bank of England, among others, target an inflation rate of around 2%.
How do you reach this target?
Central banks use a variety of tools to reach their inflation target. The most common method is through the manipulation of interest rates. By adjusting interest rates, central banks can influence borrowing costs, which in turn can affect spending and investment decisions. This can then influence the overall level of demand in the economy, which affects prices.
In addition to interest rates, central banks can also use other monetary policy tools, such as buying and selling government securities in the open market, to reach their inflation target.
In some cases, central banks may also use forward guidance, where they provide information about their future plans for interest rates, to influence market expectations and help reach their inflation target.
It’s worth noting that hitting an exact inflation target can be challenging, and central banks may sometimes miss their target due to various economic and financial factors outside of their control.
Is inflation transitory?
Protecting your business from risk of recession and inflation
Connect with key business leaders and business management experts to find the secrets to solving your business problems. Find out how to help your business survive current and future business risks. Be more confident about your ability to survive any risk event.
How do you ensure business survival
Improve your business risk management plan with help from BusinessRiskTV risk management experts.
Protect your business assets better. Use your available business resources more efficiently to make your money go further.
Top Business Survival Tips
What are secrets in business?
Develop your business risk management knowledge and skills to more easily achieve your business objectives with BusinessRiskTV.
Prevent your business succumbing to known and unknown business threats.
Review your business costs to develop more business resilience.
Develop contingency plan to continue regardless of risk events.
Standing still May threaten your business survival. You therefore need to identify cost effective ways to grow your business faster.
Survival Strategies In Marketing
Reach out to new customers online today tomorrow and more sustainably with more affordable business marketing and advertising strategies.
Subscribe to BusinessRiskTV for free to receive alerts on latest business risk analysis and ways to manage risks better
Inform your options in business decision-making. Explore your perception of real risks to your business. Concentrate your resources on best business opportunities.
Identify the sources of threats to your business objectives
Use tools and processes to assess the risks to your business
Manage strategic operational and project risks better
Define what the significant risks to your business objectives are. Risk management can help you take sound business decisions to build your business resilience to grow your business faster with less uncertainty. Manage the risks that could present a barrier to your business survival or continued business growth. Evaluate the adequacy of your business risk management plan and risk management process.
Taking Risks To Achieve More In Business With BusinessRiskTV
Minimise the key threats better and seize best business opportunities more easily with greater returns.
Celebrate Your Online Business Growth With Pro Risk Manager
Strategic Decision Making For Business
How to make better strategic decisions for your business if you are business leader
Maximise Your Business Success: Proven Strategies for Better Strategic Decision-Making for Business Leader
Making better strategic decisions for your business can be challenging, but it is essential for its success. Business leaders play a crucial role in creating and executing strategies that drive growth, competitiveness, and profitability. Here are a few tips to help you make better strategic decisions for your business:
Start with a clear vision: Having a clear vision of where your business is headed is critical. It helps you set your priorities and make decisions that align with your goals. Make sure your vision is realistic, achievable, and inspiring.
Gather data and insights: Gather data on your market, customers, competitors, and your own performance to inform your decision-making. Use tools like market research, customer surveys, and data analytics to get insights into the trends and patterns affecting your business.
Consider multiple options: Don’t limit yourself to a single strategy. Instead, consider multiple options and weigh their pros and cons. Encourage your team to bring new ideas to the table and consider them seriously.
Seek feedback from key stakeholders: Before finalizing a decision, seek feedback from key stakeholders, including employees, customers, partners, and suppliers. Their input can help you make informed decisions that take into account the perspectives of those who are affected by them.
Create contingency plans: Anticipate potential risks and prepare contingency plans to minimize their impact. This helps you mitigate risks and be prepared for any eventualities that may arise.
Stay flexible: The business environment is constantly changing, so be prepared to adjust your strategy if necessary. Stay open-minded, monitor the situation closely, and be ready to pivot when circumstances require it.
Communicate effectively: Effective communication is critical to the success of any strategy. Ensure that everyone understands the strategy and their role in executing it. Regularly communicate progress, changes, and updates to keep everyone informed and engaged.
In conclusion, making better strategic decisions for your business requires a combination of vision, data, collaboration, contingency planning, flexibility, and effective communication. As a business leader, it’s up to you to set the tone and lead by example in making informed, strategic decisions that drive your business forward.
Maximise Your Business Success: Proven Strategies for Better Strategic Decision-Making for Business Leader
Stop looking to reduce risk and instead make your business plans under a risk-based approach to business decision making with BusinessRiskTV
How can business leaders change business performance with a more risk based approach to business management?
Are you interested in boosting your business performance? Do you use online resources to improve your knowledge of business risks impacting on your business objectives? Do you want to make your business more profitable?
Look at risk as a positive for your business. Manage the threats better. Seize new business development opportunities quicker and enhance the benefits arising from risk taking.
Risk Profile v Risk Appetite – Risk tolerance vs risk appetite is important to understand. If you do not know what your risk profile is you cannot manage your business risks better. Could you increase your appetite for risk to achieve more business success? What is your risk tolerance?
How To Grow Business Faster Business Tips – Grow business faster with BusinessRiskTV. Use practical business growth tips. Thing how do I grow my business fast? Need how to grow business tips. Use latest business tips and marketing tools. Our business growth experts work with our Online Selling Partners providing tips for business growth. Learn how to grow your business fast with BusinessRiskTV. Pick up tips on how to grow business faster. Connect with our business growth experts and partners. Save money and time to become more profitable and other latest business tips from BusinessRiskTV.
iso 31010 Risk Management and Risk Assessment Techniques Guidance – Do you know where to focus our resources to protect and grow your business? iso 31010 risk assessment tools and techniques can help you identify assess and control critical risks to your business. Understand your business risks better with iso 31010 risk assessment awareness. Mitigating Threats Maximising Returns From Business Opportunities
Understanding and Managing Risk Better – A better way to manage business enterprise risk. Risk management courses distance learning. Develop better business risk management plan. Discover best enterprise risk management online training courses for your needs. Risk management courses UK and overseas. Join like minded senior managers executives and risk management practitioners. Learn how to manage business enterprise risk management risks better. Save money and time with BusinessRiskTV. Search for tips on developing your improved business risk management plan.
Get In Touch
Are you interested in growing your business faster? Do you use the internet to attract new customers. Do you want to sell more online? Do you want us to help your business grow faster online?
Submit a question. Share your views and experiences. Please include a contact number if you are willing to speak to us. You can get in touch in the following ways:
Guidance On Enterprise Risk Management On BusinessRiskTV
Do you want your business to be bigger or more profitable?
ERM Framework Implementation
Enterprise Risk Management (ERM) is the process of identifying, assessing, prioritising, and managing risks that could affect an organisation’s ability to achieve its objectives. In today’s fast-paced business environment, organizations face numerous risks, such as financial, operational, strategic, regulatory, reputational, and cybersecurity. The failure to manage these risks could lead to severe consequences, such as financial loss, legal liability, damage to reputation, and even business failure.
Therefore, it’s critical for organizations to implement a robust ERM framework to identify and mitigate risks that could potentially harm the organization. In this article, we will provide guidance on how organisations can implement an effective ERM framework to manage risks.
Establishing an ERM framework The first step in implementing ERM is to establish a framework that outlines the organisation’s risk management policies, procedures, and practices. The framework should define the roles and responsibilities of the risk management team, establish risk assessment methodologies, and identify the key risk indicators (KRIs) that will be used to monitor risks.
The ERM framework should also identify the organisation’s risk appetite, which refers to the level of risk that the organisation is willing to accept in pursuit of its objectives. The risk appetite should be clearly defined and communicated to all stakeholders, including employees, investors, customers, and regulators.
The ERM framework should be aligned with the organisation’s strategic objectives, and the risk management team should work closely with the senior management team to ensure that risk management is integrated into the organisation’s decision-making process.
Conducting a risk assessment The next step in implementing ERM is to conduct a risk assessment, which involves identifying, analysing, and evaluating risks that could potentially harm the organisation. The risk assessment should be based on a systematic and comprehensive approach that considers all the potential risks that the organisation faces.
The risk assessment should consider both internal and external factors that could affect the organisation’s ability to achieve its objectives. Internal factors include the organisation’s culture, structure, processes, and people, while external factors include economic, political, technological, and regulatory factors.
The risk assessment should also consider the likelihood and impact of each risk and prioritise them based on their significance. The risk assessment should be updated periodically to ensure that new risks are identified and managed.
Developing a risk management plan Once the risks have been identified and prioritised, the next step is to develop a risk management plan that outlines the actions that will be taken to manage each risk. The risk management plan should consider the risk appetite of the organisation and the resources that are available to manage the risks.
The risk management plan should include specific measures to mitigate each risk, such as risk avoidance, risk reduction, risk transfer, and risk acceptance. Risk avoidance involves eliminating the risk altogether, while risk reduction involves implementing measures to reduce the likelihood or impact of the risk. Risk transfer involves transferring the risk to another party, such as an insurance company, while risk acceptance involves accepting the risk and managing it within the organisation’s risk appetite.
The risk management plan should also identify the stakeholders who will be responsible for managing each risk and the KRIs that will be used to monitor the risks. The risk management plan should be reviewed periodically to ensure that it remains effective and relevant.
Implementing risk management controls The next step in implementing ERM is to implement risk management controls to manage the risks. Risk management controls are the policies, procedures, and practices that are implemented to manage the risks identified in the risk assessment.
Risk management controls should be designed to ensure that the organisation operates within its risk appetite and that the risks are managed effectively. Risk management controls should be integrated into the organisation’s processes and systems to ensure that they are followed consistently.
Monitoring and reporting on risks The final step in implementing ERM is to monitor and report on risks. Monitoring involves tracking the effectiveness of the risk management controls and the KRIs that were identified in the risk management plan. The monitoring process should be designed to detect any changes in the risk environment and to ensure that the risk management controls remain effective.
Reporting involves communicating the results of the risk management process to stakeholders, such as the board of directors, senior management, investors, customers, and regulators. The reporting should provide an accurate and comprehensive view of the organisation’s risk exposure and the effectiveness of the risk management controls.
Reporting should also include any significant changes in the risk environment and any emerging risks that could potentially impact the organisation. Reporting should be timely, accurate, and relevant to ensure that stakeholders have the information they need to make informed decisions.
ERM is a critical process that organisations must implement to manage the risks they face. ERM involves identifying, assessing, prioritising, and managing risks that could potentially harm the organisation.
To implement an effective ERM framework, organizations must establish a framework that outlines the risk management policies, procedures, and practices. They must conduct a comprehensive risk assessment that considers all the potential risks that the organisation faces and prioritise them based on their significance.
They must develop a risk management plan that outlines the actions that will be taken to manage each risk and implement risk management controls to manage the risks. Finally, they must monitor and report on risks to ensure that the risk management process remains effective and relevant.
By implementing an effective ERM framework, organisations can mitigate the risks they face and achieve their objectives in a safe and sustainable manner. The ERM framework should be reviewed and updated periodically to ensure that it remains effective and relevant to the changing risk environment.
Sign up for our introduction to international trade risk analysis assessment and management with help of BusinessRiskTV and its risk expert network
Risk Management Toolbox Talk Exploring Barriers To And Opportunities From International Trade
What could cause the opening or closing international trade marketplace? The closing or opening of international trade to your business is perhaps at a recent high level of uncertainty. What elements of international trade threaten your business? What events could open up new opportunities to your business? How do you manage the risks better? Mitigate the threats impacting on your business success. Enhance the beneficial outcomes for your business of international trade.
Online workshop is an introduction to BusinessRiskTV online risk management service to help business leaders make key business decisions to manage threats and opportunities better.
The opening or closing of international marketplace to all who wish to participate is a moving feast. Changes in threats and opportunities can arise based on sudden economic, geopolitical and technology risks in particular.
Managing risks from international trade may be limited to mitigating threats, or harnessing and enhancing the benefits from international trade. It may be impossible to influence whether risk events occur or not. However, exploring the threats and opportunities may be critical to your business success.
Being the first mover may be just as important. The first businesses to act tend to carry the greatest risks and rewards. If you are to act first you may need help from risk experts to improve your business intelligence and international trade risk knowledge.
Benefits include:
Limiting losses
Maximising sales profit
Grow faster with less uncertainty
Opening the enterprise risk management process of identifying analysing and assessing to international trade risks. Working on overcoming international trade barriers. Exploring a risk profile of a company and international trade risks. Developing an enterprise risk management implementation road map to stronger business resilience and expansion. Starting to understand how to overcome trade barriers including supply chain risk management. Identifying solutions to international trade problems. Opening the door to further risk workshops with an introduction to international trade risk awareness training and enterprise-wide risk management solutions.
Pay below via Paypal to secure your place on our online risk management workshop.
Who should attend?
Business leaders, business owners, executives and senior managers as well as risk professionals.
How to attend online risk management toolbox talk on
Title:
Uncertainty of international trade expanding or contracting
In this this essential risk management toolbox talk we will cover the key international trade risks potentially impacting on your business including:
Geopolitical Risks
Global Economy Risks
Technology Risks
Save the date for an insight into international trade risk management
Pay fee online via secure third party payment service Paypal who do not inform us of your full account details. We will email you the Zoom video conferencing joining instructions no later than 24 hours before the workshop begins.
As a special offer you will be able to redeem your non-member payment of £20 against your first year’s subscription fee for BusinessRiskTV Pro Risk Manager for 12 months. Membership of BusinessRiskTV opens up Pro Risk Manager service benefits include huge discounts off products and services such as further training, online business coaching and advertising costs. BusinessRiskTV membership provides opportunity to continue corporate risk analysis, assessment and management business intelligence as well as option to collaborate with global risk management experts to improve your ability to manage your business better.
Post introductory online risk management toolbox talk on 15th January 2021, members and non-members of BusinessRiskTV will also be given opportunity to collaborate in future online advanced workshop sessions. These sessions will further explore how business leaders around the world can collaborate specifically on overcoming barriers to international trade, both theory and practice. These advanced workshops sessions will aim to increase international trade by participants. Workshop participants will share expert knowledge and practical business development tools. The introductory online fee will be used to reduce the cost of more advanced sessions by participants.
Participants at introductory online risk management toolbox talk can also put themselves forward as international trade risk experts at future more advanced online workshop events to share your expert knowledge and promote their business interests. Get in touch with us if this is you.
Better manage the risks of selling internationally
Our Marketplace Consultants help our Online Selling Partners grow their business faster. Our BusinessRiskTV Virtual Online Marketplace Professional Services seek to improve your new customer experience and our Online Selling Partner experience on BusinessRiskTV by working directly with Online Selling Partners to increase online sales. Our innovative approach to online selling and eCommerce helps existing and new businesses to grow faster. Join with us to boost your existing business profit or start a new business with us as a side hustle or new full time job.
Our Marketplace Consultants help our Online Selling Partners to develop new income streams. They help you to grow your business on BusinessRiskTV. Marketplace Consultants offer tips advice and support to growing businesses. Work with your dedicated Marketplace Consultant on best online marketing tools for your business offering. Join us now to start selling more profitably online. Become one of our Online Selling Partners today.
Click Join Now or email editor@businessrisktv.com entering code #OnlineSellingPartners
Drive your business growth faster with BusinessRiskTV.
Create and market compelling online selling opportunities for your business.
Work with our Marketplace Consultants to identify and implement new business development opportunities for your business.
Drive more sustainable growth with BusinessRiskTV marketing tools and techniques.
Analyse and change selling approach maximise the potential of your business
Discover and capitalise on otherwise hidden selling opportunities with our help
Reach more new customers with BusinessRiskTV. Join our Online Selling Partners. Join BusinessRiskTV today.
How to Identify and Capitalise on Business Opportunities
In today’s competitive marketplace, businesses need to be constantly on the lookout for new opportunities. By identifying and capitalising on these opportunities, businesses can grow and expand their reach.
What is a Business Opportunity?
A business opportunity is a situation where there is a need for a product or service that is not currently being met. This need can be created by a change in the marketplace, a new technology, or simply a gap in the current offerings.
How to Identify Business Opportunities
There are a number of ways to identify business opportunities. Some of the most common methods include:
Observing trends. Pay attention to the changes that are happening in the marketplace. What are people buying? What are their needs and wants? What new technologies are emerging? By staying up-to-date on trends, you can identify potential opportunities that others may have missed.
Solving problems. Think about the problems that people are facing in your industry. Are there any ways to solve these problems in a better way? Could you develop a new product or service that addresses these needs?
Finding gaps in the market. Look for areas where there is a lack of competition. Are there any products or services that are not currently being offered? If so, there may be an opportunity to fill this gap.
Talking to customers. One of the best ways to identify business opportunities is to talk to your customers. What are their pain points? What do they wish they could have? By listening to your customers, you can get a better understanding of their needs and identify potential opportunities.
What Does it Mean to Capitalise on Opportunities?
Once you have identified a business opportunity, you need to be able to capitalise on it. This means taking the necessary steps to turn the opportunity into a successful business.
There are a number of things you can do to capitalise on a business opportunity, including:
Developing a business plan. A business plan will help you to define your business goals, identify your target market, and develop a strategy for achieving success.
Building a team. You will need a team of talented and dedicated individuals to help you bring your business to life.
Raising capital. Most businesses need some form of financial backing to get started. There are a number of ways to raise capital, including loans, grants, and crowdfunding.
Marketing your business. You need to let people know about your business and what you have to offer. This involves developing a marketing plan and executing it effectively.
The 4 Forces in Identifying Business Ideas and Opportunities
There are four main forces that can help you to identify business ideas and opportunities:
Technology: New technologies can create new opportunities for businesses. For example, the rise of the internet has created a whole new market for online businesses.
Demographic trends: Changes in the demographics of a population can also create new opportunities. For example, the ageing population in many developed countries has created a growing market for products and services that cater to seniors.
Economic trends: Changes in the economy can also create new opportunities. For example, a recession can lead to opportunities for businesses that offer cost-saving solutions.
Social trends: Changes in social trends can also create new opportunities. For example, the growing trend of environmental awareness has created opportunities for businesses that offer sustainable products and services.
Identifying and capitalising on business opportunities is essential for the success of any business. By following the tips in this article, you can increase your chances of finding and exploiting the next big opportunity.
Keywords: business opportunity, identify business opportunity, capitalise on opportunities, 4 forces in identifying business ideas and opportunities
New Business Ideas
Virtual Event Planning: With the increasing number of people attending virtual events, starting a virtual event planning business could be a profitable venture. You can specialize in planning corporate meetings, webinars, conferences, or even virtual weddings.
Online Coaching: Online coaching has become increasingly popular over the years. You can start an online coaching business that offers coaching in areas such as personal development, business, health, or fitness.
E-commerce store: With the rise of e-commerce, starting an online store is a great business idea. You can sell products in a specific niche, such as fashion, beauty, or home goods.
Social Media Marketing: As more businesses focus on social media marketing, there is a growing need for social media experts. You can start a social media marketing agency that helps businesses improve their social media presence.
Content Creation: With the rise of digital marketing, there is a growing demand for high-quality content. You can start a content creation business that offers services such as copywriting, video production, or graphic design.
Online Tutoring: Online tutoring is becoming more popular as students seek flexible learning options. You can start an online tutoring business that offers services in a specific subject or a range of subjects.
Health and Wellness Services: There is an increasing demand for health and wellness services such as yoga, meditation, and massage. You can start a health and wellness business that offers these services.
Mobile App Development: As the number of smartphone users continues to grow, mobile app development is a lucrative business idea. You can start a mobile app development business that creates apps for businesses or individuals.
Home Cleaning Services: With people’s busy schedules, there is a growing demand for home cleaning services. You can start a home cleaning business that offers services such as regular cleaning, deep cleaning, and move-in/out cleaning.
Pet Care Services: As more people become pet owners, there is a growing demand for pet care services. You can start a pet care business that offers services such as dog walking, pet sitting, or grooming.
Increasing business leader collaboration for faster sustainable business growth with less uncertainty with BusinessRiskTV.com
The world can be better place with better business collaboration with BusinessRiskTV
Change your business risk management for better business and better business world. Increase business collaboration for mutual sustainable business growth. Connect with local and global business leaders to develop your business.
Click on Like Button to subscribe for free risk alerts news reviews and deals via your preferred App; or email editor@businessrisktv.com to subscribe for free risk management newsletter.
Develop your risk knowledge to understand the threats and opportunities facing your business. Create new business intelligence to inform better decision making. Tap into our risk management resources to better protect and grow your business and all your stakeholders in the business. Read articles and watch webinars on better business risk management.
Create a more successful team including key inhouse personnel and external business experts
Business Risks Management 2023
A more holistic approach to business decision making will make more efficient use of your existing resources. Engage your own workforce on a better journey for your business with support from people outside your organisation.
Teamwork in business can include all resources available to you not just the assets you currently have in your business.
BusinessRiskTV
Our business risk management hub opens up a new world of business collaboration opportunities. Keep up to date with current risk management news opinions experiences and product reviews. Work together with business leaders who have solved your business problems already. Develop new business opportunities with people local to you or in other marketplaces to diversify your business development.
Network with your peers and risk management professionals to find answers to your risk management questions quicker. Find out more about online virtual workshops webinars and online discussions to increase your knowledge and develop greater business management intelligence.
Subscribe to BusinessRiskTV for free today for free alerts bulletins and reviews to your email inbox
By alerted to upcoming online events you can choose to join when the subject and time is right for you.
CLICK HERE or email editor@businessrisktv.com to subscribe to BusinessRiskTV for free
Read business risk management articles and watch videostream trending on BusinessRiskTV
Not only can you improve your risk management capability but you can increase confidence in your risk management system.
Are you asking the right questions about the key threats to you business? Do you consistently look out for and review business opportunities for growth? If you do not have a risk management system in place your business decision making may be working but is it working well?
What is your appetite for risk? Is this reflected across the whole organisation. Your risk management culture should reflect the attitude to risk of its business leaders for a consistent approach that is less confusing or contradictory further down the organisation. If you are not all singing from same hymn sheet you are losing productivity. In addition you maybe taking too much risk or not enough risk to achieve your business objectives.
Everybody should be clear about their role in your risk management framework and risk assessment process. Lack of clarity produces gaps through which failure in your risk management system can squeeze!
Everyone should be rewarded based on achievement of risk management plan. If your risk management plan has been correctly drafted and embedded it will bring business success. Your risk management plan should be to achieve business objectives set with enterprise risk management methodology. A holistic approach to business decision will produce greater resilience and longer term sustainable success.
Understand that your risk assessment process has weaknesses. Peoples perceptions of risk can skew risk management actions inappropriately. This can result in the failure of your risk management system and business.
Enterprise risk management ERM creates a clear picture of where you are now and plans to get you to where you want to be. However everyone needs to engage in the process for it to work optimally. It is to be present in strategic operational and project risk management.
Build more confidence in your ability to implement a better risk management system
Risk management can help profitability enhance all stakeholder confidence and protect your brand and reputation. Create the environment for more effective business outcomes and greater profitability.
If you improve your confidence in your risk management system you can actually take more risks to achieve more in business.
BusinessRiskTV
Increase your risk knowledge and business intelligence. Change your perspective of risks and risk management. Redefine what is acceptable risks without breaching your risk tolerance. If you are not confident in your risk management capability it is hard for the business and business leaders to perform well.
Decide how best to manage risks in your business. Build your colleagues confidence with training and support from BusinessRiskTV. Find out more by completing and submitting the form below and enter code #Confidence.
Read articles and watch videostream on building business management confidence trending on BusinessRiskTV
Develop new business projects with more confidence in your success with BusinessRiskTV business risk consulting and training services and risk management partners entering code #BusinessConfidenceForum
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new buyers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE for more information.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Making the most of unexpected disasters. Make the most of disasters. No one asks for a disaster to hit their business but when one comes along look for the opportunities that come with it. If you do this as part of business continuity planning you can come out of the disaster quicker stronger and more resilient.
How to reduce uncertainty in business with BusinessRiskTV
Want to read watch videos and speak to experts who can help protect and grow your business through all types of business environment?
Our Knowledge Marketplace, Business Experts Hub and risk management experts:
Write risk management articles to inform your decision-making
Produce videos and host live online events, training and workshops to develop your risk management knowledge and skills
Offer risk management consulting services to help you overcome business problems.
A disaster can be an opportunity to grow if you change your mindset
To come out the other side of major risk event stronger includes being ready to seize new business opportunities as well as mitigate downside risk impact.
You may be able to bring forward future planning as result of risk event. If you have a major fire then do not just build what you had before. Bring forward better ways of working that you may have planned for 5 years time prior to risk event.
Competitors who are not resilient as your business may not survive crisis. This may allow you to change pricing or provide opportunity to introduce new marketing campaign to mop up their customers.
You products or services may simply be more in demand after the crisis than before it. Attitudes of business buyers and consumers will change during and after the crisis. Your business maybe well positioned to take advantage of change of attitude to sell more and grow your business faster.
There is nothing morally bad about making the most of a bad situation. If you survive a crisis you have the right to explore a new way of working that will benefit both your business consumers and society.
Many great inventions or innovations have been introduced and transformed life and business due to mistakes. Some new drugs and products were discovered when the inventor or developer was trying to achieve something totally different from what transpired as brilliance.
Necessity is the mother of invention
When forced into an existential situation it is human nature to fight to survive. There will always be risk events that threaten survival in business. Sometimes they risk event may be located on one business. On rare occasions a risk event threats whole business systems of working.
Around every 10 years business leaders should expect a financial crisis that threatens business survival. It is almost impossible to know how the financial crisis will arise. The cause of the risk event that creates the crisis is less important than the resilience to overcome the impact on your business.
Th last financial crisis was 2008. May countries in Europe have still not recovered from the 2008 financial crisis never mind businesses.
If you are in business for the long haul then you need to be prepared for at least one financial crisis every 10 years. In between you need to be ready for your own individual crisis’s that pop up just for your business.
Learning opportunities from a crisis
Major risk events are perhaps alarmingly more frequent than one expects. Rather than being overly alarmed maybe the best thing to do is learn from risk events. Take the good from the bad to improve future business performance.
Do not press the panic button
We can also learn from other businesses who make mistakes on our behalf! If they suffer find out what they did wrong learn from their mistakes and make sure your business does not suffer the same consequences.
More than that find out what lessons other business leaders have learned from their past mistakes or negative risk events
Sharing bad experiences allows the herd to be better protected! Sharing successes helps the herd to join in on the success for faster growth and speedier progress.
Power Of Collaboration In Business Development
Subscribe to BusinessRiskTV for free alerts bulletins and risk reviews to your inbox to better protect and grow your business
Taking the right risks for greater success with BusinessRiskTV.com
Identifying and managing business risks
How can a business identify risk and manage business resources to manage business risks better? Undertake risk profile analysis to inform your business decision making. Practical enterprise risk management ERM tips advice training and consultancy.
Many risk events are possible. However how do you manage your resources cost effectively to control risks whilst boosting business performance?
When beginning the risk management process identify risks that could impact on your business objectives. Look at the whole business at once rather than individual silos functions or departments.
Do not make assumptions at the beginning about the level of risk or effectiveness of risk control measures. Assume that what you currently do risk management wise will not work or not work well enough to control risks.
Consult experts within your business at all levels and experts outside of your business who may have an understanding of your risks. Focus your attention on key internal and external drivers of risk that may have significant impact on your business objectives.
Your business risk exposure needs to be right for your risk management culture. What is your appetite for risk? How much risk can your business tolerate? Getting the balance right is key for sustainable business success.
Reduce or eliminate threats as soon as they appear on the horizon. Seize new business opportunities before your competitors do. Anticipate and plan for future risks. React quickly to current or unexpected risk events.
Risk analysis and Holistic Enterprise Wide Risk Management Approach Will Improve Your Business Decision Making To Boost Business Performance
Manage risks better. Minimise the impact of risk on your business plans. Manage potential problems easier quicker and less expensively. Stop the undermining of key business initiatives or projects by risk events. Explore possible future threats.
Identify business opportunities for growth. Back the best ones to maximise return in investment of time and money. Boost the profit from the best new ideas. Manage opportunities for greater success better.
Create the right risk management framework and enterprise wide risk assessment process for your business
The source of your business risks can be wide and varied. Often they are specific to your business. Sometimes the affect just your industry or geographic location. Occasionally they affect most of the world like the financial crisis of 2008 or global pandemic like 2020.
The impact on your business maybe life giving like if your business is a deep cleaning business or face mask manufacturer in coronavirus outbreak. Or risk events can destroy your business and it may never recover. Your risk management assessment and approach to risk control needs to be tailored to your business.
Not all risks are bad and bad risk events can be good for your specific business in so many different ways. For example the coronavirus tragically will kill thousands of people. In addition many businesses will fail including many of your competitors. Out of the flames the phoenixes will rise. The challenge is to make sure your business and your people survive and prosper no matter what risks are thrown at your business.
Put your great ideas into action with more confidence. Continue to be optimistic about your future. The way your business could and perhaps should change forever not just to get through coronavirus. Learn the lessons from horrifically tragic risk events. Seize the opportunities coming from the 4th industrial revolution. Survive and prosper today tomorrow and then next day no matter what risks you face no matter where you do business and no matter what industry you are in.
Some risks hit you like a ton of bricks. Other risks are more subtle. They creep up on you. You do not know that you are at risk until it can be too late. Enterprise wide risk management means continuous tweaking and adjustment. What is right today may not work tomorrow. The key is to review what has happened but keep your eye on the horizon to ensure you are prepared. Whether you produce the risks internally or have external risks imposed upon your business know what to do when to do it and get to where you want to be regardless.
Subscribe to BusinessRiskTV for free risk management alerts bulletins and reviews to your email inbox to help you prepare for your future in business
Sign up to BusinessRiskTV newsletter or follow us via your favourite social media account
Read articles and watch videostream on taking calculated risks trending on BusinessRiskTV
Risk Appetite and Risk Tolerance
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit
Increase the sources of your new income streams more sustainably. Grow your business faster with BusinessRiskTV.
Finding a better way to manage business challenges with BusinessRiskTV.com
Inspiring Leadership To Strive To Achieve More In Business
And there are always opportunities to grow a business faster too. There are always leadership challenges regardless of era in business. Improve management of the biggest issues facing the business world today.
Learn how to overcome leadership challenges. Being a successful business leader means there will always be challenges. The business problems will change but it is naive to thing that your challenges are more difficult than the challenges other leaders have overcome in the past.
In the UK the biggest issues combined that impact on future business success is poor productivity and lack of skills. UK business leader must invest in capital assets including automation or machinery as well as people. Workers in the UK need dramatic upskilling. There has been a distinct lack of investment over the last decade that needs redressing over the next decade. Instead of whinging about lack of immigration UK business leaders need to be more innovative and invest in engaging existing workforce more.
We can achieve so much more than we are currently doing. There is a significant lack of investment in innovation and new ideas to overcome business challenges. Perhaps it is a hangover from the slow recovery from the 2008 financial crisis. Business leaders have thought about survival for so long that it has suppressed a more creative and innovative business world.
BusinessRiskTV
We need to change our business thinking. Invest in innovative thought processes to discover new ways of overcoming business problems in front of us.
Deutsche Bank currency guru says it’s ‘time to sell the dollar’ as greenback sees longest losing streak since 2021
The dollar has been on a losing streak in recent weeks, and a top currency strategist at Deutsche Bank is betting that the trend will continue.
George Saravelos, global co-head of FX research at Deutsche Bank, said in a note to clients on Thursday that he’s once again betting that the dollar will weaken against the euro, Japanese yen, British pound, and other major currencies.
“We believe that the dollar’s recent weakness is more than just a temporary correction,” Saravelos said. “We see a number of factors that are likely to keep the dollar under pressure in the coming months.”
One of the factors that Saravelos is pointing to is the Federal Reserve’s plans to raise interest rates. The Fed is expected to raise rates several times this year in an effort to combat inflation. However, Saravelos believes that the Fed’s rate hikes will be less effective than they have been in the past because the global economy is now in a different phase.
“The global economy is no longer in a synchronised growth upswing,” Saravelos said. “This means that the Fed’s rate hikes are likely to have a more muted impact on economic activity and inflation than they would have in the past.”
Another factor that Saravelos is pointing to is the strength of the euro. The euro has been rising in recent weeks, and Saravelos believes that this trend is likely to continue.
“The euro is benefiting from a number of factors, including the strong performance of the European economy,” Saravelos said. “We believe that the euro is likely to continue to outperform the dollar in the coming months.”
Saravelos’s call is a reversal of his previous stance. In January, he said that the dollar was “oversold” and that he expected it to rebound. However, he has since changed his view, and he now believes that the dollar is likely to continue to weaken.
Saravelos’s call is in line with the views of other currency analysts. A recent survey by Bloomberg found that 60% of currency analysts believe that the dollar will weaken in the coming months.
If Saravelos is right, it could have a significant impact on the global economy. The dollar is the world’s reserve currency, and its value has a major impact on the prices of commodities, assets, and goods. If the dollar weakens, it could lead to higher inflation and lower economic growth.
Of course, it’s impossible to say for sure what will happen to the dollar in the future. However, Saravelos’s call is a warning that the greenback’s days of dominance may be coming to an end.
In addition to the factors mentioned by Saravelos, there are a few other reasons why the dollar could continue to weaken.
The US trade deficit is widening. This means that the US is importing more goods and services than it is exporting. This puts downward pressure on the dollar.
The US economy is growing more slowly than other major economies. This means that investors are less likely to hold dollars as a safe haven.
The US political landscape is becoming more polarised. This could lead to uncertainty and volatility in the markets, which could also weigh on the dollar.
Of course, there are also some factors that could support the dollar. For example, if the Fed raises interest rates more aggressively than expected, it could boost the dollar’s value. However, overall, the trend seems to be pointing towards a weaker dollar.
What does this mean for investors?
If you are an investor who is holding dollars, you may want to consider hedging your bets by investing in other currencies. You may also want to consider investing in assets that are less sensitive to changes in the dollar’s value.
If you are a business that exports goods or services, you may benefit from a weaker dollar. This is because a weaker dollar will make your goods or services cheaper for foreign buyers.
Overall, the outlook for the dollar is uncertain. However, there are a number of factors that could lead to a weaker dollar in the coming months. Investors and businesses should be aware of these factors and should adjust their strategies accordingly
Read risk horizon scanning business articles and watch videostream trending on BusInessRiskTV
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE for more information.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow or profit. Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
How to overcome loss aversion with BusinessRiskTV.com
How do we make the best use of available business assets and resources to maximise return of investment of time and money
Fear of loss often beats the desire to gain more. Fearing losing everything you have built is natural human reaction. However is your fear getting in the way of seizing new business opportunities? Keep innovating and growing with less uncertainty with BusinessRiskTV.
Develop a holistic risk management culture to drive your business forward. Up your risk appetite to achieve more with more controlled balanced risk taking.
The biggest factor in business leader decision making is fear of loss. People worry about loss more than securing gains.
BusinessRiskTV
Develop a more assured risk management framework and risk assessment process to match your risk culture. Make sure your risk taking remains within your risk tolerance.
Do you have loss aversion bias in decision making?
Business leaders who are loss averse feel the pain of loss much greater that any joy from any gains from decisions made. They make strategic business decisions accordingly. The risk culture of the business models the loss aversion bias of the business leader.
If this works well for your business you should continue with status quo. However if you would like to experience faster business growth you may need to take more calculated risks.
Loss aversion refers to the tendency to prefer avoiding losses to acquiring equivalent gains. It is better for you to not lose 10000 pounds than to make 10000 pounds in business.
BusinessRiskTV
However most entrepreneurs and many business leaders are in their position to better themselves. If you mitigate the potential losses from taking more risks and manage the risks to maximise the return on your investment you should end up with faster growth with less uncertainty.
It is more common in people who are not entrepreneurs or business leaders to be biased against taking risks. Loss aversion is a reflection of a general bias in human psychology. People tend to want to stick with what they know than make changes that might not work well. People in general are resistant to change. When presented with the potential benefits of change they focus more on what might be lost rather than on what can be gained.
What is your business risk tolerance? If you can make changes to try to grow faster that if do not work fall within your risk tolerance would you take more risk?
If you adopted small changes rather than one big radical all eggs in one basket change would you feel more comfortable? Spreading your faster business growth changes across a few new ideas may be better for your business. When you know which one of the new changes works best perhaps then you can focus on one new idea.
Do not confuse more risk taking in business with gambling. Taking calculated risks to grow faster is about assessing and then managing the risks before you action more risk taking. You can mitigate the threats from more risk as well as maximise the returns from taking more risks.
Few things in business life are guaranteed other than taxes! Even maintaining the status quo comes with the threat of business failure. Kodack photography business was once one of the most successful businesses in the world. How many Kodack films do you buy for your camera now!
The desire to avoid business losses is motivated by fear. The more a business leader fears losses the more likely he or she is to be loss averse and the more likely they are to be disinclined to make changes to their business to be more successful. Having a better understanding of the risks that could be taken to achieve more will make loss averse business leaders more comfortable with changing the the business.
Often the perception of risks and reward are skewed to the belief that you are doomed to fail which means you do not make changes to the business. By the same token it is important that all stakeholders in the business are involved in assessing risks from changes to business. Business leaders who do like taking risks can miss the pitfalls to mitigate against whilst making changes that can cause the change project fail even if it was a great idea.
With a little input and engagement from all levels of the organisation your project to grow faster is more likely to be a success. Take risks that are worth taking which are achievable with everyone onboard.
BusinessRiskTV
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your email inbox on enterprise risk management and project risk management
Subscribe to BusinessRiskTV.com for free
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE to find out more entering code #Marketing.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit. Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Plan a better project risk management process with BusinessRiskTV.com
Identify and manage project risks better
Want to make your project a success with less uncertainty? Discover risk analysis techniques in project risk management. Develop a new project risk assessment process. Manage project risks better.
Minimise any potential project problems that may negatively impact a projects timetable or end outcome. Control uncertainty impacting on the people process or assets used in the project. Assess the likelihood of risk events occurring and the size of the impact on the project development and completion date.
Ensure you are able to respond to risk events. Achieve project goals with more confidence. Be prepared for all key risks which may have an impact on project goals.
Project risk management is an essential aspect of any project management plan. A risk can be defined as an uncertain event or condition that, if it occurs, will have a positive or negative impact on the project’s objectives. Risk management involves identifying potential risks, assessing their likelihood and impact, and developing strategies to mitigate or avoid them. Proper project risk management helps to minimise the likelihood of negative impacts and improve the chances of project success. In this article, we will discuss project risk management and suggest five steps to improving project risk management.
The Importance of Project Risk Management
Project risk management is critical to the success of any project. By identifying and addressing potential risks early on in the project life cycle, project managers can reduce the likelihood of negative impacts on the project’s objectives. Effective risk management enables project teams to anticipate potential issues and take steps to mitigate or avoid them before they occur. This results in improved project outcomes, increased stakeholder satisfaction, and reduced costs associated with resolving unforeseen issues.
Steps to Improving Project Risk Management
Develop a Risk Management Plan
The first step to improving project risk management is to develop a comprehensive risk management plan. This plan should outline the risk management process, including risk identification, assessment, and response strategies. It should also establish roles and responsibilities for the project team, identify risk thresholds, and establish a process for monitoring and controlling risks throughout the project life cycle.
Identify Risks Early
Effective risk management requires identifying risks early in the project life cycle. The earlier risks are identified, the easier it is to develop strategies to mitigate or avoid them. Project managers should encourage team members to identify risks as early as possible and provide a process for reporting potential risks. This can include risk identification workshops, regular risk reviews, and ongoing risk assessments throughout the project life cycle.
Assess Risks Objectively
Risk assessment is a critical component of project risk management. Project managers should assess risks objectively, taking into account their likelihood and impact on the project’s objectives. This can include using tools such as risk matrices or probability-impact assessments to prioritise risks based on their likelihood and impact. Objective risk assessment helps project teams to focus their efforts on the most significant risks, reducing the likelihood of negative impacts on the project’s objectives.
Develop Effective Risk Response Strategies
Once risks have been identified and assessed, project teams should develop effective risk response strategies. This can include developing contingency plans, implementing risk avoidance strategies, or transferring risk to third-party vendors or insurance providers. The effectiveness of risk response strategies should be regularly reviewed and adjusted as necessary throughout the project life cycle.
Monitor and Control Risks
Finally, project managers should establish a process for monitoring and controlling risks throughout the project life cycle. This includes regularly reviewing risk status, tracking risk response strategies, and updating risk management plans as necessary. Project teams should also establish a process for reporting new risks as they arise and adjust risk management plans accordingly.
Project risk management is an essential aspect of any project management plan. By identifying potential risks, assessing their likelihood and impact, and developing strategies to mitigate or avoid them, project managers can improve the chances of project success. To improve project risk management, project managers should develop a comprehensive risk management plan, identify risks early, assess risks objectively, develop effective risk response strategies, and monitor and control risks throughout the project life cycle. With proper risk management, project teams can reduce the likelihood of negative impacts and improve the chances of project success.
Promote and market your project management related business on BusinessRiskTV for 12 months
Put your project management related products and services in front of potential new buyers before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE for more information.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit. Increase your source of revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Understand enterprise risk management and firm performance improvements on BusinessRiskTV.com
Objectives of Enterprise Risk Management ERM
Enterprise risk management theory and practice can help to boost your business. Are you interested in enterprise risk management theory and practice? Keep up to date with latest enterprise risk management theory and practice news opinions and reviews. Network with enterprise risk management experts and top business leaders locally and globally.
Enterprise risk management theory and practice is an holistic approach to business decision making. It is designed to make the best use of business resources.
Achieve enterprise objectives more easily and cost effectively by reducing the impact of uncertainty.
Improve business decision making when looking at business strategy operational management and project management.
Engage the whole workforce in the task of making the enterprise a success.
Learn strategies to develop collaboration with enterprise risk management development within your business. Create an efficient risk management framework and risk assessment process you can communicate clearly to all employees to embed ERM more effectively.
Enterprise risk management creates value for all stakeholders in the enterprise including customers employees management team and owners.
Assess enterprise threats opportunities and their impact on enterprise objectives to use existing resources more cost effectively to achieve success more quickly and easily with less uncertainty.
BusinessRiskTV
Subscribe to BusinessRiskTV for free enterprise risk management ERM alerts bulletins and reviews to your inbox
In today’s dynamic and interconnected business landscape, managing risks has become an essential aspect of successful enterprise management. Organisations face a wide range of risks, including financial, operational, strategic, and reputational risks, which can significantly impact their ability to achieve objectives and thrive in a competitive environment. Enterprise Risk Management (ERM) provides a comprehensive framework and process for identifying, assessing, and mitigating these risks to ensure sustainable growth and resilience. This article serves as a guide to understanding and implementing ERM within organisations.
Understanding Enterprise Risk Management:
Enterprise Risk Management is a strategic approach that enables organisations to proactively identify, assess, and manage risks across all levels and functions. It involves the systematic integration of risk management practices into an organisation’s decision-making processes, governance structure, and operations. ERM goes beyond traditional risk management, which often focuses on isolated risks, by considering the interdependencies and cumulative effects of risks on an enterprise-wide basis.
Key Components of Enterprise Risk Management:
a. Risk Identification: The first step in ERM is identifying and cataloging all potential risks that may affect the organisation. This involves gathering information from various sources, including internal stakeholders, external experts, industry reports, and historical data. The goal is to create a comprehensive risk register that captures both known and emerging risks.
b. Risk Assessment: Once risks are identified, they need to be assessed in terms of their likelihood of occurrence and potential impact. This step involves qualitative and quantitative analysis to prioritise risks based on their significance. Risk assessment techniques may include scenario analysis, sensitivity analysis, and probabilistic modeling.
c. Risk Mitigation: After assessing risks, organisations develop risk mitigation strategies to reduce the likelihood or impact of identified risks. These strategies may involve implementing controls, transferring risks through insurance or contracts, accepting risks within predetermined tolerance levels, or avoiding risks altogether by changing business practices or diversifying operations.
d. Risk Monitoring and Reporting: ERM is an ongoing process that requires continuous monitoring of risks to ensure their effectiveness. Organisations should establish clear risk indicators and thresholds to detect changes in risk levels and trigger appropriate actions. Regular reporting on risk exposures, mitigation efforts, and performance against risk objectives is essential to keep stakeholders informed and accountable.
e. Risk Culture and Communication: ERM is most effective when risk management becomes an integral part of an organisation’s culture. This involves fostering a risk-aware mindset among employees, encouraging open communication about risks, and embedding risk management practices in daily operations. Effective communication channels should be established to facilitate the flow of risk-related information across all levels of the organisation.
Benefits of Enterprise Risk Management:
Implementing ERM brings several benefits to organisations:
a. Improved Decision Making: ERM provides decision-makers with a holistic view of risks, enabling them to make informed choices that align with the organisation’s risk appetite and strategic objectives. By considering risk factors, organisations can avoid costly mistakes and capitalise on opportunities.
b. Enhanced Resilience: ERM helps organisations become more resilient in the face of uncertainties and disruptions. By systematically managing risks, organisations can better anticipate and respond to potential threats, minimising their negative impact and quickly recovering from adverse events.
c. Competitive Advantage: Effective ERM enables organisations to differentiate themselves by demonstrating strong risk management practices to customers, investors, and regulators. This can enhance their reputation, attract new business opportunities, and improve access to capital.
d. Regulatory Compliance: ERM assists organisations in complying with applicable laws, regulations, and industry standards. By proactively managing risks, organisations can identify compliance gaps and take corrective actions to avoid penalties and reputational damage.
e. Cost Optimization: ERM helps organisations optimise resource allocation by identifying areas of inefficiency, waste, or excessive risk-taking. By streamlining processes, eliminating redundancies, and aligning risk management efforts, organisations can reduce costs and improve operational efficiency.
Implementing Enterprise Risk Management:
To successfully implement ERM, organisations should consider the following steps:
a. Leadership Commitment: Senior management should demonstrate a strong commitment to ERM and actively champion its adoption throughout the organisation. This includes allocating resources, defining roles and responsibilities, and fostering a risk-aware culture.
b. Risk Governance: Establish a clear governance structure for ERM, with defined roles, responsibilities, and reporting lines. Designate a risk officer or risk management team to oversee the ERM process and ensure its integration into decision-making at all levels.
c. Risk Framework: Develop a risk management framework tailored to the organisation’s specific needs and industry context. This framework should outline the key components of ERM, including risk identification, assessment, mitigation, monitoring, and reporting.
d. Risk Assessment and Prioritisation: Conduct a comprehensive risk assessment to identify and prioritise risks based on their potential impact and likelihood of occurrence. This assessment should involve input from relevant stakeholders and utilise appropriate risk analysis techniques.
e. Risk Mitigation Strategies: Develop and implement risk mitigation strategies that align with the organisation’s risk appetite and strategic objectives. These strategies should be tailored to address specific risks and may involve a combination of controls, risk transfer mechanisms, and process improvements.
f. Integration with Business Processes: Embed risk management practices into existing business processes and decision-making frameworks. This includes integrating risk considerations into strategic planning, project management, performance evaluation, and budgeting processes.
g. Training and Awareness: Provide training and awareness programs to educate employees about ERM principles, methodologies, and their role in managing risks. Foster a culture of risk awareness, where employees are encouraged to report and escalate potential risks.
h. Continuous Monitoring and Improvement: Establish a system for ongoing risk monitoring and reporting. Regularly review and update the risk register, assess the effectiveness of risk mitigation measures, and identify emerging risks. Continuously improve the ERM process based on lessons learned and feedback from stakeholders.
Overcoming Challenges in Enterprise Risk Management:
Implementing ERM can present challenges, but organisations can overcome them with proper planning and execution:
a. Organisational Silos: ERM requires collaboration and information sharing across different functions and departments. Breaking down silos and fostering cross-functional communication is essential for effective risk management.
b. Resistance to Change: Resistance to change can hinder the adoption of ERM. Organisations should invest in change management efforts, addressing concerns, and providing training and support to employees.
c. Data and Information Management: ERM relies on accurate and timely data and information. Organisations should establish robust data management systems, ensure data integrity, and leverage technology solutions for data collection, analysis, and reporting.
d. Risk Appetite Alignment: Aligning risk appetite across the organisation can be challenging. Clear communication and dialogue between senior management and relevant stakeholders are crucial to establish a shared understanding of risk tolerance and strategic objectives.
e. Evolving Risk Landscape: The risk landscape is continuously evolving, with new risks emerging and existing risks evolving. Organisations should stay updated on industry trends, regulatory changes, and emerging risks to ensure the relevance and effectiveness of their ERM practices.
Enterprise Risk Management is a strategic imperative for organizations to navigate the complexities and uncertainties of the modern business environment. By adopting a comprehensive ERM framework, organisations can proactively identify, assess, and mitigate risks, enabling them to make informed decisions, enhance resilience, and gain a competitive advantage. Successful implementation of ERM requires leadership commitment, a robust governance structure, integration with business processes, and a risk-aware culture. Overcoming challenges and continuously improving the ERM process will contribute to long-term success and sustainability in today’s dynamic business landscape.
How can business leaders protect and grow their business regardless of business environment
Do not panic! Think about and implement new strategies to reduce negative risks to your business. Be better prepared for downside risks. Discover fresh ideas to tackle risk management challenges.
Risk events can destroy a business strategy. Best laid plans … Managing business risks is crucial to maximise business performance. How do you identify and mitigate strategic operational and project risks?
How To Manage Risk In Business
Take The Leap Into Your Future Business Success With More Confidence
Analyse the risk so you can decide on its importance in relation to your business objectives.
Prioritise your available business resources to tackle the key business risks for the best return on your risk management time and money.
Assign responsibility for each key risk to your senior management team members. If no one is going to be held account for failure to manage key risks then there will be insufficient consideration of the risk.
Monitor and review your key business risks and effectiveness of associated risk management measures. If the net risk rises then you may need to make changes to you risk management plan. If the net risk reduces you may assign less management time to controlling it but still allocate responsibility for controlling the risk to a key senior management team member.
Risk Identification
Identify potential problems that could cause your business trouble. The business risk can be an event or it can be a condition like changing business environment.
Identify and assess your enterprise risks better
Risk Mitigation
International Trade Hub
Design a risk mitigation plan eliminate or minimise the impact of the risk on your business objectives. After evaluating the risk pick a risk mitigation strategy that avoids reduces or transfers the risk. Alternatively accept the risk as part and parcel of achieving business objectives.
Select and commit business resources required for specific risk mitigation strategies.
BusinessRiskTV
Seek out guidance on how to identify the risks your business may face. Understand how to respond to risk events. Put new risk management systems in place to deal with the risks cost effectively.
Learn how to develop a risk management plan to protect your business. Find ways to minimise business risks with a new risk management strategy and approach for managing.
Reduce not only the likelihood of an event occurring but also the potential impact. Make sure you also consider the opportunities to grow your business when determining how best to manage risks.
Subscribe to BusinessRiskTV for free risk management alerts bulletins and reviews to your email inbox
Work with BusinessRiskTV to identify alternative risk mitigation strategies methods tools and techniques for each key risk. Get risk management advice on how to control and minimise negative effects of key risks from network of risk management experts.
Enterprise risk management ERM training to improve your awareness of enterprise threats and opportunities for growth with BusinessRiskTV.com
Enterprise Wide Risk Management Consulting
Enterprise wide risk management consulting services can boost your business performance. Enterprise risk management consulting services can support your business ambitions. What does your enterprise need to do or stop doing to be more successful? Enterprise wide risk management consulting and training services will provide you with the answer.
Enterprise Risk Management ERM skills and Risk Knowledge Development
Gain a better more accurate understanding of the enterprise risks facing your organisation. Develop bespoke enterprise wide risk assessment process for your enterprise. Embed the right enterprise risk management tools and techniques to fit your enterprise risk management culture. Conduct your own enterprise wide risk assessments to manage enterprise risks better.
Solve complex enterprise challenges with more effective risk management strategy and risk management system. Improve your risk management leadership skills and train the rest of your employees to understand the benefits of enterprise wide risk management approach.
Apply a holistic enterprise wide risk management ERM approach across the entire organisation to enable a better understanding and management of key enterprise risks
BusinessRiskTV
Develop a more integrated and coordinated enterprise risk management process that places greater emphasis on the whole instead of the parts of the enterprise. Your revised enterprise risk management framework should be built with new enterprise risk management policies processes tools techniques and reporting for improved governance risk and compliance GRC.
Effective governance risk management and compliance is critical to build a resilient successful enterprise. It is fundamental for strategic operational and project management.
An Enterprise Risk Management ERM holistic approach is important because its successful embedding in your enterprise will give you more confidence it can survive and prosper regardless of the environment it has to work in. Manage threats better and seize new opportunities you may otherwise have missed or turned down.
Enterprise wide risk management methodology principles and practices will help your enterprise achieve its aims and objectives. It will focus your available resources to enable optimal enterprise performance.
BusinessRiskTV enterprise risk management consultants work in partnership with your senior managers and executives to ensure governance risk and compliance GRC is appropriately considered in the business strategy setting operational management and project management. We help you reach the right balance of risk taking and success. Respond to risk better and exploit opportunities quicker with more confidence.
Find out more about BusinessRiskTV enterprise wide risk management consulting and training services
Become a Pro Risk Manager with help from BusinessRiskTV
Is There a Demand for Risk Management Consultants?
In today’s increasingly complex and uncertain world, businesses of all sizes are under pressure to manage risk effectively. This has led to a growing demand for risk management consultants, who can help organisations identify, assess, and mitigate risks.
What Do Risk Management Consultants Do?
Risk management consultants typically have a background in business, finance, or statistics. They use their expertise to help organisations develop and implement risk management frameworks. This may involve identifying and assessing risks, developing risk mitigation strategies, and managing risk throughout the organisation.
What Are the Benefits of Hiring a Risk Management Consultant?
There are a number of benefits to hiring a risk management consultant. These include:
Expertise: Risk management consultants have the expertise and experience to help organisations identify, assess, and mitigate risks.
Objectivity: Risk management consultants can provide an objective view of an organisation’s risk profile. This can be helpful in identifying risks that may not be apparent to internal stakeholders.
Best practices: Risk management consultants can share best practices from other organisations. This can help organisations improve their risk management practices.
Improved compliance: Risk management consultants can help organisations improve their compliance with regulations.
Is There a Demand for Risk Management Consultants?
The demand for risk management consultants is growing. This is due to a number of factors, including:
Increased complexity of business operations: Businesses are becoming more complex, which means that there are more risks to manage.
Increased regulatory requirements: Governments are imposing stricter regulations on businesses, which means that they need to improve their risk management practices.
Increased awareness of risk: Businesses are becoming more aware of the importance of managing risk. They are realising that risk can have a significant impact on their bottom line.
What Are the Skills Needed to Be a Risk Management Consultant?
The skills needed to be a risk management consultant vary depending on the specific role. However, some of the most important skills include:
Business acumen: Risk management consultants need to have a strong understanding of business operations. This will help them identify and assess risks that may impact the organisation.
Quantitative skills: Risk management consultants need to be able to analyse data and use statistical methods to assess risk.
Communication skills: Risk management consultants need to be able to communicate effectively with both technical and non-technical audiences.
Problem-solving skills: Risk management consultants need to be able to identify and solve problems.
How to Become a Risk Management Consultant
There are a number of ways to become a risk management consultant. Some people choose to earn a degree in risk management or a related field. Others gain experience in risk management by working in a business or government organisation. There are also a number of certification programs available for risk management professionals.
The Future of Risk Management Consulting
The future of risk management consulting is bright. The demand for risk management consultants is expected to continue to grow in the coming years. This is due to the increasing complexity of business operations, the increasing regulatory requirements, and the increasing awareness of risk.
If you are interested in a career in risk management consulting, there are a number of things you can do to prepare. First, you should gain experience in risk management by working in a business or government organisation. Second, you should earn a degree in risk management or a related field. Third, you should become certified as a risk management professional.
The field of risk management consulting is a dynamic and rewarding field. If you are interested in helping organisations manage risk, then a career in risk management consulting may be the right choice for you.
In addition to the above, here are some other factors that are driving the demand for risk management consultants:
The increasing frequency and severity of natural disasters.
The growing threat of cyberattacks.
The increasing complexity of financial markets.
The globalisation of business.
As these and other risks continue to grow, the demand for risk management consultants is likely to remain strong.
How to work smarter not harder with BusinessRiskTV.com
Create the right work habits to work smarter
Be more efficient with your work time. Many people are morning people. If you start early and finish early? Do your best work when your brain is most receptive to working most efficiently. When you are at your most productive do not let other people interrupt you. Focus on one task at a time. Pick the most important tasks to be completed when you are at you most productive.
Discover how to work smarter not harder. Become more productive as an individual and a business. Be more effective at work and in business. Complete business objectives faster.
Prioritise the things that are most important not what is urgent.
Eliminate more meetings reduce length of meetings and make sure each meeting is the most productive it can be.
Focus on most important task get it done then move onto next most important thing for you and your business. Stop multitasking.
Do most difficult tasks when you are at your best not at the end of the working day when your brain is fried.
Take a more holistic approach to business problem solving. Lumping business risks together to be solved by one risk management solution will be more cost effective and quicker.
Best tips for achieving what you want in life and business
Develop your risk knowledge and business intelligence to inform your business decision making process. Network with positive business leaders who look for solutions not dwell on barriers to business development.
A holistic risk management approach will make more cost effective use of business resources easier. Integrate enterprise risk management ERM methodology into strategic operational and project decision making. Engage the whole workforce in making business changes.
Measure the results and outcomes from your new risk management strategy and review steps to make progress faster. Communicate more effectively with all levels of the organisation to ensure everybody is pulling in the same direction.
Benefits Of Enterprise Risk Management ERM
Stop procrastination within your business
Make business decisions faster with more confidence
Tap into unusual but effective ways to boost your revenue more profitably. Learn tips tools and techniques to work smarter not harder. Increase your productivity.
Enterprise risk management consulting training and coaching services to help business leaders work smarter not harder and achieve more in less time with existing resources.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews on better working practices to your inbox
Promote and market your business on BusinessRiskTV for 12 months
Find out how to promote your business locally and globally email editor@businessrisktv.com
Place your business in front of new buyers more cost effectively and sustainably. Link into your specific products or services direct from BusinessRiskTV. Increase your income streams more profitably for long term faster business growth.
Smart business decision making involves a combination of careful analysis, strategic thinking, and effective execution. Here are some tips to help you practice smart business decision making:
Gather and analyse data: Before making any business decision, it’s important to gather and analyse relevant data. This might include market research, customer feedback, financial data, and other relevant information. Use this data to identify trends, opportunities, and potential risks.
Consider multiple options: When making a business decision, it’s important to consider multiple options. Don’t simply go with the first idea that comes to mind. Instead, brainstorm a variety of potential solutions and evaluate them based on their feasibility, potential benefits, and potential drawbacks.
Evaluate the risks: Every business decision carries some level of risk. Before making a decision, it’s important to carefully evaluate the potential risks and consider how they can be mitigated or managed.
Seek input from others: It can be helpful to seek input from others when making a business decision. This might include input from employees, stakeholders, or industry experts. Different perspectives can help you identify blind spots and make a more informed decision.
Set goals and prioritise: When making a business decision, it’s important to consider your overall goals and priorities. Make sure your decision aligns with your long-term objectives and consider how it might impact other aspects of your business.
Test and iterate: Once you’ve made a decision, test it out and evaluate the results. If it’s not working as expected, be prepared to iterate and make adjustments as needed.
Remember, smart business decision making involves a combination of analysis, creativity, and strategic thinking. By following these tips, you can make more informed decisions that are more likely to lead to success.
Anticipate problems before they happen to your business with BusinessRiskTV.com
Ability to anticipate and solve business problems quicker
Learn how to solve business problems effectively. The best business leaders can avoid business problems before they become a problem for their business. Engage all your employees to help you solve business problems. Change how you think about business problems.
Find out more about business problem solving techniques with BusinessRiskTV. Experience business problem solving tools.
Identify the risks impacting on your business
Understand how all your business stakeholders will be affected by the risks
Identify the solutions to manage your business risks better
Evaluate which business solutions are best for your business
Investigate the upside and downside risks of business problems for your business
Monitor and review your risk management plan and risk management strategy effectiveness
If the business problem is a big daunting issue for your business break it down into smaller component parts and assess the parts independently so the big problem becomes more manageable. Avoid business problems altogether if possible.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your email inbox on solving business problems quicker
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of people ready to buy before your competitors do. Link into your existing sales process direct from BusinessRiskTV. Increase your revenue streams more profitably and sustainably. Grow your business faster.
Discover How To Beat The Competition In Sales
Read business problem solving articles and watch videostream trending on BusinessRiskTV
Business enterprise risk management grapevine on BusinessRiskTV.com
Risk insight for business leaders
Listen into executive grapevine. Want to be in touch with your future? BusinessRiskTV horizon scanning risk management intelligence and research offers you the opportunity to stay ahead of the game. Network with business leaders who want to create a competitive advantage to those who are on the bus.
Risk insight for risk leaders and business executives. Scan horizon to keep ahead of risk events. Develop your business risk management culture. Hear about risk matters through our risk executive grapevine.
Dedicated to providing best risk management knowledge business intelligence and career development opportunities:
Developing risk management jobs board to help risk executives develop their career.
Providing easier access to risk management training and development via our risk management marketplace.
Subscribe to BusinessRiskTV for free alerts and bulletins to your email inbox. Alternatively connect to us with our various social media accounts to stay up to date.
Enter code #ExecutiveGrapevine
Get connected on BusinessRiskTV.com
Pick up the latest business risk management news headlines opinions and reviews for free. Connect with large professional business management networks that suit your business needs.
This new decade offers massive opportunities and threats to businesses. Making the right decisions at the right time is not going to be easy. However we offer support guidance and training to build your business resilience and growth.
BusinessRiskTV
Find out which upcoming online conferences workshops webinars a roundtable discussions could be right for you and your colleagues to develop your risk knowledge and business intelligence.
Make sure you do not take too many or too few risks to achieve greater business success.
BusinessRiskTV
Promote and market your business on BusinessRiskTV for 12 months
Put your business products or services in front of potential new customers.
Find out how to promote your business locally and globally
Innovative ways to reach out and sell more online. Grow your business faster. BusinessRiskTV can become a new income stream for your business. A more profitable one.
Read articles and watch videostream trending on BusinessRiskTV to increase your risk knowledge and business intelligence
BusinessRiskTV Executive Grapevine
Executive Grapevine on BusinessRiskTV.com: Navigating the Risks and Challenges of Business Leadership
As an executive, navigating the risks and challenges of business leadership can be a daunting task. Whether you’re leading a small startup or a multinational corporation, there are countless factors that can impact the success of your organisation. However, by staying informed and proactive, you can mitigate risks and overcome challenges to drive your business forward. This is where Executive Grapevine on BusinessRiskTV.com can be a valuable resource for business leaders.
Executive Grapevine is a platform that offers business leaders the latest insights and advice on risk management, leadership, and innovation. It provides a forum for executives to connect, share ideas, and learn from each other’s experiences. On BusinessRiskTV.com, Executive Grapevine provides a wealth of resources for business leaders, including articles, webinars, podcasts, and more.
One of the key areas that Executive Grapevine covers is risk management. Risk management is an essential aspect of business leadership, as it involves identifying, assessing, and mitigating risks that can impact the success of your organization. From cyber threats to supply chain disruptions, there are a variety of risks that can pose a threat to your business. By staying informed about the latest risks and trends, you can take proactive steps to mitigate these risks and protect your organisation.
In addition to risk management, Executive Grapevine also covers leadership and innovation. Effective leadership is crucial to the success of any organisation, and Executive Grapevine provides insights and best practices for leading teams and driving growth. Innovation is also a key aspect of business leadership, as it involves finding new and creative ways to solve problems and drive growth. Executive Grapevine offers insights and strategies for fostering a culture of innovation within your organisation.
One of the benefits of Executive Grapevine is that it provides a forum for business leaders to connect and share their experiences. By learning from other executives, you can gain valuable insights and perspectives that can help you navigate the challenges of business leadership. Executive Grapevine also provides opportunities for networking and collaboration, which can be valuable for building relationships and partnerships that can drive growth.
Another benefit of Executive Grapevine is that it provides a range of resources for business leaders, including articles, webinars, podcasts, and more. These resources are designed to provide actionable insights and advice that you can apply to your own organisation. Whether you’re looking to improve your risk management strategies or foster a culture of innovation, Executive Grapevine offers resources that can help you achieve your goals.
In addition to the resources provided by Executive Grapevine, BusinessRiskTV.com also offers a range of other tools and resources for business leaders. These include risk management software, business continuity planning tools, and more. By leveraging these tools and resources, you can streamline your risk management processes and improve the resilience of your organisation.
Overall, Executive Grapevine on BusinessRiskTV.com is a valuable resource for business leaders who are looking to navigate the risks and challenges of business leadership. By staying informed and proactive, you can mitigate risks and overcome challenges to drive your business forward. Whether you’re leading a small startup or a multinational corporation, Executive Grapevine offers insights and strategies that can help you achieve your goals.
In today’s rapidly changing business landscape, effective risk management, leadership, and innovation are essential to the success of any organisation. By leveraging the resources and insights provided by Executive Grapevine on BusinessRiskTV.com, business leaders can stay ahead of the curve and position their organisations for success.
Whether you’re looking to improve your risk management strategies, foster a culture of innovation, or connect with other business leaders, Executive Grapevine on BusinessRiskTV.com offers a wealth of resources and opportunities. By staying informed and proactive, you can navigate the risks and challenges of business leadership and drive your organisation forward.
Make better business decisions with more holistic business risk management information.
Unlock faster business growth with BusinessRiskTV.com
Taking more risks to achieve more success comes down to risk knowledge and business intelligence. A lack of risk knowledge leads to increased fear. This can result in missed opportunities to grow faster.
What are the potential costs of taking more risks?
What are the potential benefits of taking more risks?
How will taking more risks benefit your business?
What are the alternatives?
How much better would your business perform if the best case scenario came true?
What are the worst outcomes that could happen if you took extra risks and how could you reduce the risk?
How bad would it be if the worst case scenario risk event materialised?
What would your business look like in 5 years if your risk decisions were taken?
Assessing the risks incorporating both upside and downside risks will enable you to make more balanced business decisions to improve performance.
Risk Appetite and Risk Tolerance
Negativity bias means in part we focus more on stopping bad things from happening than creating the environment for great good things to happen. For example, we focus on stopping climate damage instead of investing money in better natural environment. We spend more money to risk control instead of seizing new business opportunities which create risk but also create more rewards for risk takers.
Welcome the threats in the 2020s as they bring opportunities
Embrace the opportunities in the new decade but be risk aware about the threats that come with the opportunities to grow. Work together with our network of business leaders and risk management experts to finish the 2020s better than you started.
Taking Risks To Achieve More In Business With BusinessRiskTV
Subscribe to BusinessRiskTV for freezing alerts and bulletins to your email inbox on how to grow your business faster with less uncertainty
Subscribe to BusinessRiskTV for free alerts and bulletins on the latest business threats and opportunities for growth to your inbox
Understand business risks. Explore the key factors that lead to successful business. Apply the relevant risk management measures. Take the risk first before the competition clicks on.
Click on Like Button to follow us on your favourite social media App; or subscribe for free enterprise risk management newsletter by emailing editor@businessrisktv.com
Risk Appetite and Risk Tolerance enter code #RiskAppetite
There are a number of key factors that led to successful business. Successful business leaders understand that being in business is about managing the risks from change. Unsuccessful business leaders tend to blame their failures on economic climate changes and their successes on their brilliant business management skills!
The UK retail sector is suffering major painful changes. Tens of thousands of jobs have been lost as major retailers collapsed or contracted. Yet the UK retail marketplace has some examples of major retailers bucking this trend blamed on the UK economy by unsuccessful retail business managers.
By applying their risk management knowledge successful businesses can act quicker and with more confidence it will work out
BusinessRiskTV
Not taking risks is not an option for most business leaders. However many risk factors coming together can appear daunting. Enterprise risk management looks at the big picture and helps you identify the steps to a better business in future.
Find out how to improve your chances of business success with BusinessRiskTV. Take calculated risks to help your business grow faster with less uncertainty. Embrace change and the risks to your business.
Business risk assessment elements should fit your business culture. Some people do not like numbers. Some do. Your business risk assessment template should reflect the culture of your organisation.
A business risk assessment is a systematic process that helps organisations identify, evaluate, and prioritise risks that may impact their operations, financial performance, and reputation. It is an essential tool for managing risk and ensuring the long-term viability of a business.
There are several key elements that a business risk assessment should include:
Identifying the risks: The first step in the risk assessment process is to identify the potential risks that the business may face. This can include internal risks, such as operational inefficiencies or employee misconduct, as well as external risks, such as market changes or natural disasters.
Evaluating the risks: Once the risks have been identified, the next step is to evaluate their potential impact on the business. This includes considering the likelihood of each risk occurring, as well as the potential consequences if it does.
Prioritising the risks: After evaluating the risks, the next step is to prioritise them based on their potential impact on the business. This will help the organisation focus its resources on the most significant risks and develop strategies to mitigate them.
Developing risk management strategies: Once the risks have been prioritised, the next step is to develop strategies to mitigate them. This can include implementing control measures to prevent or reduce the likelihood of risks occurring, or transferring the risk to another party through insurance or other means.
Monitoring and reviewing the risks: The risk assessment process is ongoing and should be regularly reviewed and updated to ensure that it remains relevant and effective. This includes monitoring the risks and identifying any new or emerging risks that may have arisen since the last assessment.
In summary, a business risk assessment should include the following key elements:
Identifying the risks
Evaluating the risks
Prioritizing the risks
Developing risk management strategies
Monitoring and reviewing the risks
Every business faces risks that could be a threat to its success
The business leaders who are better prepared for these risks and have a cost effective risk management plan and business strategy are more likely to be more successful.
Enterprise Wide Risk Assessment For Faster Business Growth With Best Use Of Business Assets
Develop a suitable risk assessment process to assist with your risk management plan preparation. Review your existing risk management process to ensure it is fit for purpose in a rapidly changing marketplace. Successful entrepreneurs have a good strategic operational and project risk management attitude and business culture that is flexible enough to cope with any economic environment.
There are numerous factors that can contribute to the success of a business. Here are some key factors that are often considered critical for building and maintaining a successful business:
Clear Vision and Strategy: A successful business requires a clear vision and a well-defined strategy. This includes setting goals, defining the direction of the business, and developing a roadmap to achieve those goals.
Market Research and Understanding Customer Needs: Understanding the market and identifying customer needs are essential for success. Conducting thorough market research, identifying target customers, and tailoring products or services to meet their needs is critical in building a successful business.
Strong Leadership: Effective leadership is crucial for the success of any business. It involves providing direction, making decisions, motivating employees, and fostering a positive work culture. Strong leadership skills help in guiding the business through challenges and achieving the desired outcomes.
Financial Management: Proper financial management, including budgeting, cash flow management, and financial planning, is vital for the long-term success of a business. Sound financial management practices help in ensuring that the business remains financially stable and can weather economic uncertainties.
Quality Products or Services: Delivering high-quality products or services is essential for building a loyal customer base. Providing value to customers and consistently meeting or exceeding their expectations builds trust and helps in retaining customers, which is critical for the success of any business.
Effective Marketing and Branding: Successful businesses understand the importance of effective marketing and branding. Creating a strong brand presence, developing marketing strategies to reach the target audience, and promoting products or services effectively can lead to increased visibility, customer acquisition, and revenue growth.
Innovation and Adaptability: In today’s dynamic business environment, innovation and adaptability are crucial for success. Successful businesses continuously innovate, adapt to changing market trends, and find new ways to stay relevant and competitive in the market.
Efficient Operations and Processes: Streamlining operations and processes can improve efficiency, reduce costs, and enhance customer satisfaction. Implementing effective systems and processes, optimising the supply chain, and leveraging technology can lead to improved productivity and operational excellence.
Talented and Engaged Workforce: A skilled and motivated workforce is vital for the success of any business. Hiring and retaining top talent, providing opportunities for growth and development, fostering a positive work culture, and promoting employee engagement can lead to higher productivity and overall business success.
Customer Relationship Management: Building strong customer relationships is crucial for long-term success. Providing excellent customer service, maintaining open lines of communication, addressing customer feedback, and building customer loyalty are key factors that contribute to the success of a business. These are some of the key factors that can contribute to the success of a business. However, it’s important to note that success is multifaceted and can vary depending on the industry, market, and individual circumstances. It’s essential to carefully plan, execute, and continuously adapt to changing circumstances to achieve long-term business success.
Strategic Partnerships and Networking: Collaborating with strategic partners and building a strong network can provide valuable opportunities for business growth. Strategic partnerships can help access new markets, share resources, and leverage complementary strengths, while networking can lead to new business leads, partnerships, and valuable industry insights.
Risk Management: Successful businesses recognize the importance of managing risks. This includes identifying and mitigating potential risks, having contingency plans in place, and being prepared to handle unexpected challenges. Effective risk management can help protect the business from potential setbacks and ensure its resilience.
Flexibility and Adaptability: Business environments can change rapidly, and successful businesses are agile and adaptable. Being open to change, willing to pivot when necessary, and embracing innovation can help a business stay ahead of the competition and navigate through uncertainties.
Continuous Learning and Improvement: Successful businesses are always learning and improving. Keeping up with industry trends, staying updated with technology, and seeking feedback from customers and employees can provide valuable insights for making informed decisions and driving continuous improvement.
Strong Customer Focus: Putting the customer at the center of the business is crucial for success. Understanding customer preferences, delivering excellent customer experiences, and building customer loyalty can lead to repeat business, positive word-of-mouth, and a strong brand reputation.
Ethical and Responsible Business Practices: Operating with integrity, practicing ethical business standards, and being socially responsible can build trust and credibility with customers, employees, and other stakeholders. Demonstrating responsible business practices can contribute to long-term success and sustainability.
Resilience and Persistence: Building a successful business is not always easy, and setbacks and failures are inevitable. Successful businesses demonstrate resilience, learn from failures, and persist in the face of challenges. Perseverance, determination, and the ability to bounce back from setbacks are key traits of successful entrepreneurs.
Long-term Planning and Goal-setting: Having a long-term vision and setting realistic goals is important for business success. Long-term planning allows for strategic decision-making, resource allocation, and monitoring progress towards achieving business objectives.
Adapting to Digital Transformation: In today’s digital age, successful businesses embrace digital transformation. This includes leveraging technology for automation, digital marketing, data analysis, and online presence to stay competitive and meet changing customer preferences.
Monitoring and Measuring Key Performance Indicators (KPIs): Successful businesses monitor and measure key performance indicators (KPIs) to track progress, identify areas for improvement, and make data-driven decisions. Regularly analysing KPIs provides insights into the health and performance of the business and helps in making informed decisions.
In conclusion, building and maintaining a successful business requires a combination of various factors. It’s important to have a clear vision, understand the market and customer needs, demonstrate effective leadership, manage finances wisely, deliver quality products or services, market and brand effectively, innovate, and adapt to changing environments. Additionally, building a strong team, managing risks, focusing on customer satisfaction, practicing responsible business ethics, and being resilient and persistent are key factors that contribute to long-term business success.
Business problem solving tools from BusinessRiskTV.com
View Marketplace For Business Experts
How to solve business problems effectively. Problem solving tools and techniques to help your business grow faster and more resiliently. Find out how to solve your business problems. Network with top risk leaders. Learn how to solve business problems online.
Promote and market your business consultancy or problem solving business on BusinessRiskTV for 12 months
Find out how to promote your business locally and globally
Put your products or services in front of new people already interested in your type of business offering before your competitors grab your potential sales.
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Read business management articles and view videostream trending on BusinessRiskTV
Subscribe to BusinessRiskTV for free alerts and bulletins on upcoming webinars and risk expert panel questions and answers
Business experts share corporate risk management knowledge. Avoid procrastination and make better business decisions. Grow your business faster.
Network with our community of business experts to help protect your business and grow it faster with less uncertainty
Find risk management consultants you need for your business. Our business risk management experts can answer your questions provide advice and provide risk insight.
Our experts panel online events are designed to help your business grow faster. Access good business risk management advice on the risks in your country and industry. Develop and protect your business better. Find answers to questions about your own business risks. Ask the experts.
Do you need advice from an expert?
In the world of business, making the right decisions can be the difference between success and failure. Business owners must be able to weigh the potential risks and rewards of each decision before taking action. But with so many variables to consider, making good business decisions can be a daunting task. Fortunately, BusinessRiskTV.com is here to help. In this article, we’ll explore the importance of good business decisions and how BusinessRiskTV.com can help you make them.
Why Good Business Decisions are Important
Making good business decisions is essential for the long-term success of any company. Here are a few reasons why:
Maximising profits: Good business decisions can help you maximise your profits by identifying opportunities to cut costs, increase revenue, and improve efficiency.
Mitigating risks: Every business decision involves some level of risk. Making good decisions can help you identify and mitigate potential risks, reducing the likelihood of financial losses.
Building trust: Making good decisions can help build trust with customers, employees, and investors. By demonstrating your ability to make sound decisions, you can inspire confidence in your stakeholders and build a positive reputation for your company.
Improving innovation: Good business decisions can lead to innovative ideas and solutions, helping your company stay ahead of the competition.
How BusinessRiskTV.com can Help
BusinessRiskTV.com is an online platform designed to help businesses manage risks and make informed decisions. Here are some of the ways BusinessRiskTV.com can help you make good business decisions:
Risk Management Tools: BusinessRiskTV.com provides a wide range of risk management tools to help you identify, assess, and mitigate potential risks. These tools can help you make informed decisions based on data-driven insights.
Expert Advice: BusinessRiskTV.com provides access to a network of experts in various industries. These experts can offer valuable insights and advice on how to make informed business decisions.
Industry Insights: BusinessRiskTV.com provides access to a wealth of industry insights and data. By staying up-to-date with the latest trends and developments in your industry, you can make informed decisions that give you a competitive edge.
Training and Education: BusinessRiskTV.com provides training and education resources to help you and your team improve your decision-making skills. By developing your ability to make informed decisions, you can improve the overall performance of your company.
Examples of Good Business Decisions
Let’s take a look at some real-world examples of good business decisions:
Apple’s Decision to Focus on Design: In the early 2000s, Apple made the decision to focus on design, creating products that were both aesthetically pleasing and functional. This decision helped Apple differentiate itself from competitors and build a loyal customer base.
Netflix’s Decision to Move into Original Content: In 2013, Netflix made the decision to move into original content, producing shows like House of Cards and Orange is the New Black. This decision helped Netflix reduce its reliance on licensed content and establish itself as a major player in the entertainment industry.
Amazon’s Decision to Invest in Technology: Amazon has consistently invested in technology, from its early days as an online bookseller to its current position as a leading e-commerce and cloud computing company. This decision has helped Amazon stay ahead of the competition and maintain its position as a market leader.
Coca-Cola’s Decision to Expand into New Markets: Coca-Cola has a long history of expanding into new markets, from its early days in the United States to its current position as a global brand. This decision has helped Coca-Cola maintain its position as one of the world’s most recognisable brands.
Ford’s Decision to Introduce the Model T: In 1908, Ford made the decision to introduce the Model T, a car that was affordable and easy to produce. This decision revolutionised the automobile industry, making cars accessible to the average person and transforming transportation as we know it.
These examples demonstrate the importance of making good business decisions and the impact they can have on a company’s success.
Making good business decisions is essential for the long-term success of any company. By identifying and mitigating potential risks, maximising profits, building trust, and improving innovation, good business decisions can help companies stay ahead of the competition and achieve their goals.
BusinessRiskTV.com is an online platform designed to help businesses manage risks and make informed decisions. By providing access to risk management tools, expert advice, industry insights, and training and education resources, BusinessRiskTV.com can help companies make informed decisions that drive their success.
So if you want to make good business decisions, turn to BusinessRiskTV.com. With its wealth of resources and expert guidance, you can make informed decisions that help your company achieve its goals and thrive in today’s competitive business landscape.
Business improvement planning with BusinessRiskTV.com
Subscribe to BusinessRiskTV for free alerts and bulletins to your email inbox on practical ways to improve your business performance
Setting the wrong business strategy can destroy your great business. Enterprise risk management principles and practices will help you understand your business risks better. Improve your business risk management strategy with BusinessRiskTV.
Make better business decisions more often with less uncertainty.
Misconception Of Actual Real Risks Can Destroy A Good Business
Promote and market your business more profitably for 12 months
Targeted Marketing Investment To Hit The Potential Buyers You Need To Grow Your Business Faster
Read risk management articles and watch videostream trending on BusinessRiskTV
Guide To Problem Solving With BusinessRiskTV
Common Biz Problems & Solutions
Common Business Problems: Impediments and the BusinessRiskTV Guide to Problem Solving
Running a business is an intricate endeavour filled with various challenges. From startup ventures to well-established corporations, businesses face a range of problems that can hinder their growth, profitability, and overall success. Recognising and addressing these issues promptly is crucial to ensure the longevity and prosperity of any organisation. In this article, we will explore some common business problems, discuss why they impede businesses, and present the BusinessRiskTV Guide to Problem Solving.
I. Financial Constraints
One of the most prevalent issues faced by businesses is financial constraints. Limited access to capital, cash flow problems, and high operating costs can cripple an organisation’s ability to invest, expand, and innovate. Insufficient funding can prevent businesses from hiring top talent, acquiring necessary resources, and adapting to market changes. Without a strong financial foundation, companies may struggle to remain competitive and sustain their operations in the long run.
II. Lack of Innovation
Innovation is vital for businesses to stay relevant and competitive in today’s dynamic market. However, many organisations face the challenge of stagnation and a lack of innovation. This problem can arise due to a rigid organisational structure, resistance to change, or a failure to allocate resources for research and development. Without a focus on innovation, businesses may fail to keep up with evolving customer demands and technological advancements, ultimately losing their competitive edge.
III. Ineffective Marketing and Branding
Marketing and branding play a significant role in shaping a business’s perception among consumers. However, many companies struggle with developing effective marketing strategies and building a strong brand identity. Inadequate market research, ineffective communication, and a lack of brand consistency can lead to low customer engagement, reduced sales, and difficulty in attracting new customers. Without a robust marketing and branding approach, businesses may fail to differentiate themselves from competitors and struggle to establish a loyal customer base.
IV. Poor Customer Service
Customer satisfaction is paramount to the success of any business. However, poor customer service can drive customers away and damage a company’s reputation. Insufficiently trained staff, unresponsive customer support, and ineffective complaint resolution processes can create negative experiences for customers. This can result in lost sales, diminished customer loyalty, and negative word-of-mouth publicity, all of which can have a significant impact on a business’s bottom line.
V. Operational Inefficiencies
Operational inefficiencies can arise from various factors, including ineffective processes, poor supply chain management, and inadequate resource utilisation. These inefficiencies lead to delays, increased costs, and reduced productivity. Over time, they can result in decreased customer satisfaction, decreased profit margins, and a loss of competitive advantage. Addressing operational inefficiencies is crucial for optimising business performance and ensuring smooth operations.
VI. Human Resources Challenges
Managing human resources can be a complex task for businesses. Challenges such as attracting and retaining top talent, fostering employee engagement, and addressing conflicts within the workplace can impede productivity and hinder organizational growth. Failure to create a positive work culture and provide opportunities for professional development can lead to high turnover rates and a loss of valuable expertise. Investing in human resources and addressing these challenges is essential for building a motivated and skilled workforce.
BusinessRiskTV Guide to Problem Solving
To overcome the common business problems outlined above, the BusinessRiskTV Guide to Problem Solving offers a systematic approach to identify, analyse, and address issues effectively. Here are the key steps of the guide:
Problem Identification: Thoroughly examine your business operations and identify the specific problems hindering growth and success. This could involve conducting surveys, analysing data, and soliciting feedback from employees and customers.
Root Cause Analysis: Determine the underlying causes of the identified problems. Look beyond surface-level symptoms to identify the core issues impacting your business. Use tools such as the “Five Whys” technique to delve deeper into the root causes of the problems.
Prioritisation: Prioritise the identified problems based on their potential impact on the business and the feasibility of addressing them. Focus on tackling the most critical issues first to maximise the positive impact on your organisation.
Collaborative Approach: Involve key stakeholders, including employees, managers, and customers, in the problem-solving process. Embrace diverse perspectives and encourage open communication to gain a comprehensive understanding of the problems and potential solutions.
Solution Generation: Brainstorm potential solutions to address the identified problems. Encourage creativity and innovation during this stage. Consider both short-term fixes and long-term strategies that align with your business goals.
Evaluation and Selection: Evaluate each potential solution based on its feasibility, cost-effectiveness, and alignment with your business objectives. Select the solutions that are most likely to deliver positive results and address the root causes of the problems effectively.
Implementation: Develop a detailed action plan for implementing the selected solutions. Assign responsibilities, set deadlines, and allocate necessary resources. Communicate the plan to all stakeholders and ensure everyone is aligned and committed to the implementation process.
Monitoring and Evaluation: Continuously monitor the progress of the implemented solutions and evaluate their effectiveness. Use key performance indicators (KPIs) to measure the impact of the solutions on your business. Make adjustments as needed to optimise the outcomes.
Continuous Improvement: Problem-solving should be an ongoing process. Regularly review your business operations, gather feedback, and seek opportunities for improvement. Foster a culture of continuous learning and adaptation within your organization.
Common business problems can impede an organisation’s growth and success. However, by recognising these challenges and implementing effective problem-solving strategies, businesses can overcome these obstacles and thrive. The BusinessRiskTV Guide to Problem Solving provides a structured approach to identify, analyse, and address problems systematically, empowering businesses to make informed decisions and drive positive change. By prioritising problem-solving and embracing a culture of continuous improvement, businesses can overcome challenges, enhance their competitiveness, and pave the way for long-term success.
Reviews of best types of business protection with BusinessRiskTV.com
How can business leaders protect their business better
BusinessRiskTV business protection guide for business protection tips advice and support. Protect a business from the effects of financial and non financial risks. Reduce the total cost of risk. Network with top business protection leaders locally and globally to protect your business better.
Subscribe to BusinessRiskTV Business Protection Guide for free alerts bulletins and reviews to your inbox
Subscribe to BusinessRiskTV.com for free
Enter code #BusinessProtectionGuide
Promote and market your business protection related business on BusinessRiskTV for 12 months
Grow Your Business With Us
Put your products or services in front of new people already interested in your type of business offering before your competitors grab your potential sales.
Find out how to promote your business locally and globally
Link into your existing online sales process direct from BusinessRiskTV or use our reCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Recommended business protection alerts and bulletins trending on BusinessRiskTV
BusinessRiskTV Guide To Business Protection
Running a successful business requires more than just a great product or service. It involves understanding and managing the risks that can impact your organisation. From financial risks to cybersecurity threats, there are various factors that can jeopardise the stability and growth of your business. In this BusinessRiskTV Guide to Business Protection, we will explore the key areas you need to consider to protect your business from potential risks.
Risk Assessment The first step in protecting your business is to conduct a thorough risk assessment. This involves identifying and evaluating the potential risks that your business may face. It is essential to assess both internal and external factors that could impact your operations. Internal risks may include financial instability, employee turnover, or operational inefficiencies. External risks can range from economic downturns to changes in regulations or new competitors entering the market. By conducting a comprehensive risk assessment, you can prioritise your efforts and allocate resources effectively.
Financial Risk Management Financial risks can have a significant impact on your business’s sustainability. It is crucial to develop a robust financial risk management strategy to protect your company’s assets and ensure its long-term viability. This includes identifying potential risks such as cash flow issues, debt management, currency fluctuations, and interest rate changes. Implementing financial controls, diversifying revenue streams, and creating a contingency fund are some of the strategies you can adopt to mitigate financial risks.
Insurance Coverage Insurance plays a crucial role in protecting your business from unexpected events. It is essential to assess your insurance needs and ensure that you have adequate coverage. Different types of insurance policies are available to address specific risks, such as property insurance, liability insurance, business interruption insurance, and cyber insurance. Carefully review the terms and conditions of each policy to ensure that it aligns with your business’s unique requirements. Regularly reassess your coverage to account for any changes in your operations or business environment.
Cybersecurity Measures In today’s digital age, businesses are increasingly vulnerable to cybersecurity threats. Protecting your business’s sensitive information and customer data is of utmost importance. Implement robust cybersecurity measures, including firewalls, encryption, secure passwords, and regular data backups. Educate your employees about the best practices for data security and create a culture of awareness within your organization. Conduct regular security audits and stay updated with the latest cybersecurity trends to stay one step ahead of potential threats.
Legal Compliance Compliance with laws and regulations is critical to protecting your business from legal risks. Failure to comply with relevant regulations can result in hefty fines, legal battles, and damage to your reputation. Stay informed about the laws and regulations that govern your industry and ensure that your business adheres to them. This may include data protection laws, labor regulations, environmental regulations, and consumer protection laws. Establish robust compliance processes, including regular audits and training programs, to minimise legal risks.
Business Continuity Planning Developing a comprehensive business continuity plan is essential to ensure that your business can withstand unexpected disruptions. Identify the critical functions of your business and create contingency plans to mitigate risks. This may involve developing alternate supply chains, establishing remote work capabilities, or creating backup systems for crucial operations. Regularly test and update your business continuity plan to account for any changes in your operations or potential risks.
Reputation Management Protecting your business’s reputation is crucial for long-term success. A damaged reputation can result in loss of customers, decreased revenue, and difficulty attracting top talent. Implement strategies to build and maintain a positive brand image. This includes delivering excellent customer service, being transparent and ethical in your business practices, and actively managing your online presence. Monitor social media platforms, respond promptly to customer feedback, and address any negative publicity proactively.
Strategic Partnerships Collaborating with strategic partners can help mitigate risks and enhance your business’s protection. Strategic partnerships can provide access to additional resources, expertise, and networks that can help you navigate risks more effectively. Look for partners who complement your business and share similar values. Collaborate on joint projects, share best practices, and leverage each other’s strengths to enhance your risk management capabilities. Building strong relationships with suppliers, distributors, and other key stakeholders can also contribute to the overall protection of your business.
Employee Training and Engagement Your employees are an integral part of your business’s protection. Investing in employee training and engagement can help mitigate risks and enhance your overall business resilience. Provide regular training sessions on topics such as risk awareness, cybersecurity, compliance, and crisis management. Foster a culture of open communication, where employees feel comfortable reporting potential risks or suggesting improvements. Engaged employees are more likely to be vigilant and proactive in identifying and addressing risks, contributing to a safer and more secure business environment.
Continuous Monitoring and Evaluation Business protection is an ongoing process that requires continuous monitoring and evaluation. Regularly review your risk management strategies and update them as necessary. Stay informed about the latest trends and developments in your industry to anticipate potential risks. Monitor key performance indicators (KPIs) and implement a robust reporting system to track the effectiveness of your risk management efforts. Conduct periodic audits and risk assessments to identify any emerging risks or areas for improvement.
Protecting your business from potential risks is essential for its long-term success and sustainability. By conducting a thorough risk assessment, implementing financial risk management strategies, securing adequate insurance coverage, strengthening cybersecurity measures, ensuring legal compliance, developing a business continuity plan, managing your reputation, leveraging strategic partnerships, investing in employee training and engagement, and continuously monitoring and evaluating your risk management efforts, you can enhance your business protection. Remember, business protection is an ongoing process that requires adaptability and a proactive approach to address the ever-evolving risks in today’s business landscape. By prioritising risk management and taking proactive measures, you can safeguard your business and position it for long-term growth and success.
Do you want to invest in your business future today
Subscribe to BusinessRiskTV for free alerts and bulletins on business innovation and growth ideas
Our future is here. We need to invest hard cash into the money innovative ideas that are just seedlings. In addition we need to invest money on old ideas that have legs but no backers. There are enormous opportunities for business and economic growth. Trouble is that we are still trying to make the obsolete ideas work for us now.
How to be a problem solver for your business with BusinessRiskTV
Subscribe to BusinessRiskTV for free alerts and bulletins on business risk management news opinions and reviews
Overcome barriers to business success more easily. Collaborate with business risk management experts to save time and money. Get ahead of your competition more profitably.
Helping Clients and Risk Partners Solve Complex Business Problems
Using risk knowledge work experience and risk management skills we can solve most business problems related to business protection and growth. Our passion for problem solving uses problem solving risk analysis tools and determination to work practically and pragmatically to get the desired result for our clients.
Using our passion for problem solving to manage real life business problems faster and cheaper
Our passion for entrepreneurial problem solving has driven a more creative and innovative strategy to help overcome common issues most business leaders face.
We have combined this passion with a practical purposeful actions to open up the world to BusinessRiskTV and its clients. We have embraced the many tools and techniques at our disposal to enable us to provide business solutions to many barriers to being a more successful business.
Our passion for problem solving has led us to offer some business solutions for free whilst charging a fee for other business services to ensure our own sustainability.
Recommended business problem solving articles training and videos
Latest risk management training with BusinessRiskTV risk management training academy-“Unveiling the Problem-Solving Process: How It Empowers Businesses”
Introduction
The importance of problem-solving in business contexts.
Understanding the Significance of Problem Solving
Explore why effective problem-solving is crucial for a business’s success.
Discuss how it can lead to better decision-making and innovation.
How Your Company Approaches Problems
Explain your company’s problem-solving philosophy and principles.
Highlight the emphasis on collaboration and cross-functional teams.
The Problem-Solving Process
A step-by-step breakdown of your company’s problem-solving process.
Detail each stage, from problem identification to solution implementation.
Leveraging Data and Analysis
Emphasise the role of data-driven decision-making in problem-solving.
Discuss how your company utilises data to understand problems better.
Encouraging a Culture of Innovation
Fostering an innovative culture contributes to effective problem-solving.
Examples of successful innovations resulting from this approach.
Adapting to Change and Challenges
Illustrate how your company tackles unexpected challenges through problem-solving.
Highlight the flexibility and adaptability of the process.
The Impact of Problem-Solving on Business Growth
Case studies or success stories showcasing the tangible impact of problem-solving.
Discuss how problem-solving contributes to overall business growth.
Feedback and Continuous Improvement
Emphasise the importance of feedback loops in the problem-solving process.
Explain how your company continuously improves its approach based on feedback.
Conclusion
Summarise the key points discussed.
Reiterate the value of problem-solving for your company’s growth and success.
Improving strategic risk management withing financial services industry in UK with BusinessRiskTV
Subscribe to BusinessRiskTV for free today
Strategic risk decision making in financial services industry is not complicated but it is complex. Reduce the complexity to what matters to your business in the financial services sector.
Become more efficient and productive
Build greater business resilience
Improve business performance
Failing to be innovative and creative in the financial services sector may place your business at a competitive disadvantage. However innovation and creativity brings added risk. Is that added risk with it? Enterprise risk management ERM approach will help you decide.
In addition ERM risk based decision making will help you protect your financial services business better. Align your business strategy with best practice risk management tools and techniques to reduce strategic operational and project risks.
Regulatory compliance increased investor engagement and expectations and increasingly volatile geopolitical risks makes investing for the future and management of investment risks harder
BusinessRiskTV
The future of financial services industry risk management is also changing with artificial intelligence divergent regulatory controls and splintering risk culture ambitions driving changes in practice.
Keep up to date with best risk management tools and techniques to improve your business decision making. The financial financial crisis is beginning. We just do not know where it started and what we are doing wrong. However being prepared for the next financial crisis should be part of a holistic enterprise risk management approach.
Chances are that fintech will play a role in the next financial crisis. Technology risks are a key risk factor for business growth and disaster for financial services companies in particular.
Lack of need to control risks will also play a role in the next financial crisis. The financial services industry has found it near impossible to manage its own risks without regulatory control. Dissipation in regulatory control will precipitate the financial services industry lunging over the cliff.
The fact that the financial services sector has still not recovered from the last financial crisis is another reason that another financial crisis will occur. ItalianChinese and Indian banks are in particular bursting at the seems with near unmanageable debt levels. Add to that boiling frothing pot of junk political instability in EuropeAsia and Americas then you have a perfect storm waiting to be unleashed.
Should we withdraw from business or investing? Of course not. It has always been thus. It has always been about the survival of the fittest. However what has changed is that there is increased realisation that the fittest are those businesses and investors who invest in socially responsible investing. Environmental social and governance risk factors are at play. The strongest are the ones who embrace this philosophy.
A holistic enterprise risk management approach to business management and investing is the future. If you are waiting to look back and acknowledge that with hindsight you will be one who suffers most from the next financial crisis. You may not survive the long term. If you are not looking to the long term then good luck to you. You might get lucky. If you are looking for long term sustainability get on the holistic enterprise risk management boat today. Create long term value through enterprise risk management today not tomorrow.
Helping to connect key business leaders online
Finding the latest best business practices can be time consuming or unfruitful. We make life and business easier and better.
Searching for what you need to inform your business decision making is free. Come back often to find the best of business quickly. Pick up the latest lifestyle and business risk management news headlines opinions debate and business reviews.
Are you a business owner or manager in the financial services industry?
Business leaders do not always have the marketing budget to promote their business. We provide a range of online marketing options for businesses to fit most budgets so you can promote your business products or services for longer.
Sponsor Strategic Risk In Financial Services for 12 months
Globally Empty Office Buildings and Commercial Property Creating Debt Collapse, Systemic Threat to Banking System Worldwide
The COVID-19 pandemic and central banks response – overprinting of money out of thin air – has had a devastating impact on the global economy, and nowhere has this been more evident than in the commercial real estate sector. As businesses have been forced to close or operate remotely, millions of square feet of office space have been vacated, leaving office buildings empty around the world.
This has led to a sharp decline in property values, and many commercial real estate owners are now facing significant financial losses. In some cases, these losses have become so severe that they have forced property owners to default on their loans, which could have a ripple effect throughout the global banking system.
Who Has the Most Exposure to Commercial Real Estate?
The financial institutions that have the most exposure to commercial real estate are those that specialise in lending to businesses and developers. These institutions include commercial banks, investment banks, regional banks in USA and insurance companies.
According to a recent report by the International Monetary Fund, commercial banks worldwide have about $20 trillion in outstanding loans to commercial real estate borrowers. This represents about 10% of all bank lending globally.
Investment banks and insurance companies also have significant exposure to commercial real estate. Investment banks, for example, often underwrite and market commercial real estate bonds, which are a type of debt security that is backed by the income generated from rental properties. Insurance companies, on the other hand, often invest in commercial real estate through real estate investment trusts (REITs), which are companies that own and operate income-producing properties.
Are Banks in Danger?
The sharp decline in commercial real estate values has raised concerns that banks could be in danger of suffering significant losses on their loans to commercial real estate borrowers. In some cases, these losses could be so severe that they could force banks to default on their own debts, which could lead to a systemic financial crisis.
However, it is important to note that banks have a variety of tools at their disposal to manage their exposure to commercial real estate risk. For example, banks can sell off their commercial real estate loans to other investors, or they can take steps to restructure the terms of these loans. At the same time if the sea level is going down for all banks in real estate debt crisis will there be enough saviours?
In addition, the government can also play a role in helping to stabilise the commercial real estate market. For example, the government can provide financial assistance to banks that are struggling with commercial real estate losses, or it can provide tax breaks to businesses that are considering moving back into office space. At the same time this is inflationary and may result in even higher interest rates – problem delayed but worsened thereby extending and increasing length of recession creating depression.
How Many Office Buildings Are Empty in the US?
According to a recent survey by the commercial real estate firm CBRE, about 15% of office space in the United States is currently vacant. This represents about 250 million square feet of empty office space.
The vacancy rate is highest in major cities such as New York, San Francisco, and Los Angeles. In these cities, the vacancy rate is often above 20%.
The vacancy rate is also high in some smaller cities and towns. For example, the vacancy rate in the city of Detroit is currently over 30%.
These, official, vacancy rates seem lower than real levels other agencies produce and anecdotally.
Why Are the Banks in Trouble?
The banks are in trouble because they have lent too much money to commercial real estate borrowers. When these borrowers default on their loans, the banks are left holding the bag.
The banks are also in trouble because the value of their commercial real estate assets has declined. This decline in value has made it more difficult for the banks to sell these assets, and it has also reduced the amount of collateral that they have available to secure their loans.
The banks are also facing increased competition from non-bank lenders, such as private equity firms and hedge funds. These non-bank lenders are often willing to lend money to commercial real estate borrowers at lower interest rates than the banks.
Conclusion
The global pandemic has had a devastating impact on the commercial real estate sector, and this has led to significant financial losses for banks and other financial institutions. The situation is likely to get worse before it gets better, as more and more businesses continue to operate remotely. If it gets worse it will be a very long time – decades – before it gets better!
The government will need to play a role in helping to stabilise the commercial real estate market, and banks will need to take steps to manage their exposure to commercial real estate risk. If these steps are not taken, the global banking system could be in danger of a systemic crisis.
BusinessRiskTV Financial Services Industry Magazine
Managing Risk in Financial Services
Managing Risk in the Ever-Evolving Financial Services Industry
The financial services industry is a complex and dynamic sector that plays a vital role in the global economy. It encompasses a wide range of activities, including banking, insurance, investment management, and more. However, with the constant changes and uncertainties in the business landscape, managing risk has become a critical aspect of the financial services industry. In this article, we will explore the challenges and best practices of managing risk in the ever-evolving financial services industry.
The Changing Landscape of the Financial Services Industry
The financial services industry has gone through significant changes over the years, driven by various factors such as technological advancements, regulatory reforms, economic fluctuations, and changing customer preferences. These changes have brought new opportunities and challenges for businesses operating in this industry.
One of the significant changes in the financial services industry is the increasing reliance on technology. The digital revolution has transformed the way financial services are delivered and consumed. Fintech companies have emerged, leveraging technology to disrupt traditional financial services providers. This has resulted in increased competition and the need for traditional financial institutions to adapt and innovate to stay relevant.
Another change in the financial services industry is the evolving regulatory landscape. Governments and regulatory bodies around the world have implemented stringent regulations to safeguard consumers and ensure financial stability. These regulations, such as the Dodd-Frank Act in the United States and the MiFID II directive in the European Union, have increased compliance requirements for financial services firms. Non-compliance can result in severe penalties and reputational damage, making effective risk management essential.
Economic fluctuations also impact the financial services industry. Economic downturns can lead to increased credit risk, market volatility, and liquidity challenges, while economic upturns can present growth opportunities. As the global economy becomes increasingly interconnected, events in one part of the world can have ripple effects on financial markets globally, making risk management more complex and critical.
Lastly, changing customer preferences and behaviors have also impacted the financial services industry. Customers now demand personalized and convenient financial services, with a focus on transparency and trust. This has led to a shift in business models, with a greater emphasis on customer-centricity and digital engagement. Firms need to understand customer preferences and manage reputational risk to maintain customer trust and loyalty.
Challenges in Risk Management in the Financial Services Industry
The evolving landscape of the financial services industry has brought about several challenges in managing risk effectively. Some of the significant challenges include:
Increasing Complexity: The financial services industry is highly complex, with numerous products, services, and processes. Risk managers need to understand the intricacies of various financial instruments, business models, and regulatory requirements to identify and manage risks effectively.
Changing Regulations: The regulatory landscape is constantly evolving, with new regulations being introduced and existing ones amended. Financial services firms need to stay abreast of these changes and ensure compliance, which requires significant resources and expertise.
Cybersecurity Risks: The increasing reliance on technology has also exposed the financial services industry to cybersecurity risks. Cyber threats, such as data breaches and ransomware attacks, can result in financial losses, reputational damage, and regulatory penalties.
Geopolitical Risks: Geopolitical events, such as trade disputes, political instability, and sanctions, can have significant impacts on the financial services industry. These events can affect global markets, currencies, and investment portfolios, leading to increased volatility and risk exposure.
Reputation Risk: Reputation is crucial in the financial services industry, and any damage to reputation can have severe consequences. Negative public perception, loss of customer trust, and regulatory scrutiny can all result in significant financial and operational impacts.
Operational Risks: The complex and interconnected nature of the financial services industry also presents operational risks. Operational failures, such as system outages, processing errors, and human errors, can disrupt business operations, cause financial losses, and harm reputation.
Risk of Financial Crime: Financial services firms are also exposed to risks related to financial crime, including money laundering, fraud, and corruption. These risks can arise from internal or external sources and can result in regulatory penalties, legal liabilities, and reputational damage.
Risk from Emerging Technologies: The rapid pace of technological advancements, such as artificial intelligence, blockchain, and cryptocurrency, presents both opportunities and risks for the financial services industry. Firms need to understand the risks associated with emerging technologies and implement effective risk management strategies to mitigate them.
Best Practices for Managing Risk in the Financial Services Industry
Given the challenges and complexities of managing risk in the financial services industry, it is essential for firms to adopt best practices to effectively mitigate risks. Here are some key best practices for managing risk in the financial services industry:
Develop a Robust Risk Management Framework: Financial services firms should establish a comprehensive risk management framework that includes risk identification, assessment, mitigation, monitoring, and reporting. This framework should be integrated into the firm’s overall strategy, operations, and decision-making processes.
Embrace a Risk Culture: Establishing a strong risk culture is critical for effective risk management. It involves fostering a culture where risk awareness and accountability are embedded in the organisation’s values, behaviours, and practices. This includes promoting open communication, risk transparency, and learning from mistakes.
Stay Abreast of Regulatory Changes: The financial services industry is heavily regulated, and firms need to stay updated with the latest regulatory changes that impact their operations. This includes understanding the implications of regulatory changes, ensuring compliance, and engaging with regulators proactively.
Enhance Cybersecurity Measures: Given the increasing cybersecurity risks, financial services firms should implement robust cybersecurity measures to protect their systems, data, and customer information. This includes regular cybersecurity assessments, employee training, and incident response plans.
Diversify Risk Management Strategies: Financial services firms should adopt a diversified approach to risk management. This includes diversifying investments, customers, and markets to reduce concentration risk. It also involves using risk transfer mechanisms such as insurance and derivatives to mitigate risks.
Conduct Comprehensive Due Diligence: Financial services firms should conduct comprehensive due diligence before entering into any business relationships, such as partnerships, acquisitions, or investments. This includes assessing the financial stability, reputation, and compliance of potential business partners to mitigate counterparty risk.
Implement Robust Compliance Programs: Compliance is a critical aspect of risk management in the financial services industry. Firms should establish robust compliance programs that include policies, procedures, and controls to ensure compliance with applicable laws, regulations, and internal policies.
Invest in Technology and Data Analytics: Technology and data analytics can play a significant role in enhancing risk management in the financial services industry. Firms should invest in advanced technologies, such as risk management software, data analytics tools, and machine learning algorithms, to identify, assess, and monitor risks effectively.
Continuously Monitor and Update Risk Management Strategies: Risk management is an ongoing process, and firms should continuously monitor and update their risk management strategies to adapt to changing business and market conditions. This includes conducting regular risk assessments, evaluating the effectiveness of risk mitigation measures, and making necessary adjustments as needed.
As the financial services industry continues to evolve, managing risk has become more critical than ever. Firms operating in this industry face various challenges, including increasing complexity, changing regulations, cybersecurity risks, geopolitical risks, reputation risk, operational risks, risk from emerging technologies, and risk from financial crime. However, by adopting best practices such as developing a robust risk management framework, embracing a risk culture, staying abreast of regulatory changes, enhancing cybersecurity measures, diversifying risk management strategies, conducting comprehensive due diligence, implementing robust compliance programs, investing in technology and data analytics, and continuously monitoring and updating risk management strategies, financial services firms can effectively mitigate risks and safeguard their operations, reputation, and financial stability.
It is crucial for financial services firms to recognize that risk management is not a one-time activity but an ongoing process that requires constant attention and adaptation. By proactively identifying, assessing, and mitigating risks, firms can reduce the likelihood and impact of potential risk events and ensure their long-term sustainability.
In addition, fostering a strong risk culture within the organisation is essential for effective risk management. This involves creating an environment where risk awareness and accountability are valued, and employees at all levels are encouraged to report risks and concerns without fear of reprisal. A robust risk culture promotes open communication, transparency, and a commitment to continuous learning and improvement.
Furthermore, leveraging technology and data analytics can greatly enhance risk management efforts in the financial services industry. Advanced technologies, such as risk management software, data analytics tools, and machine learning algorithms, can enable firms to identify patterns, trends, and anomalies in vast amounts of data, allowing for more informed risk assessments and timely risk mitigation actions.
Lastly, financial services firms should stay updated with the latest regulatory changes and engage with regulators proactively. Regulatory requirements are constantly evolving, and firms need to ensure compliance with applicable laws and regulations to avoid penalties, legal liabilities, and reputational damage. Regular communication and collaboration with regulators can help firms understand the implications of regulatory changes and proactively address any potential compliance gaps.
In conclusion, managing risk is a critical aspect of operating in the financial services industry. With the increasing complexity and evolving landscape of this industry, firms need to adopt a proactive and comprehensive approach to risk management. By developing a robust risk management framework, fostering a strong risk culture, staying updated with regulatory changes, enhancing cybersecurity measures, diversifying risk management strategies, conducting comprehensive due diligence, implementing robust compliance programs, investing in technology and data analytics, and continuously monitoring and updating risk management strategies, financial services firms can effectively mitigate risks and ensure their long-term success. It is imperative for financial services firms to prioritise risk management and make it an integral part of their strategic planning and decision-making processes. By doing so, they can safeguard their operations, protect their reputation, and maintain the trust of their customers and stakeholders in the ever-changing landscape of the financial services industry.
Enterprise risk management analysis with BusinessRiskTV
How to identify and analyse enterprise opportunities and threats
Improve your identification and analysis of business opportunities and threats. Subject your business processes to better risk identification and analysis to boost your business performance.
Unlock the secrets of successful business risk management: Sign up for our ongoing risk management workshops today!
Use your business strengths to mitigate the threats your business faces. Reduce your weaknesses to control the threats to your business objectives. Seize new business opportunities to build your business resilience.
Find out how to protect your business better and build business resilience with BusinessRiskTV
Subscribe for free to BusinessRiskTV to follow updates and highlights of articles and workshops on risk identification and analysis
Use enterprise risk identification and analysis to help you grow your business with less uncertainty.
Enhance what you are doing well for greater returns on your investment of time and money.
Identify new opportunities for your business that you are currently missing or failing to capitalise upon.
Control the risks holding your business development back.
Recognise that you do have opportunities to improve your business and what you need to do to make them work well regardless of the business or economic environment.
Subscribe for free to BusinessRiskTV to follow updates and highlights of articles and workshops on risk identification and analysis
Create a business risk management plan after identifying key threats and opportunities for your business: PESTLE example
A business risk management plan for a business leader in the UK could include the following:
Political risks:
Monitor changes in government policies and regulations that may affect the business
Assess the potential impact of political instability on the company’s operations and supply chain
Develop contingency plans for disruptions caused by political events
Economic risks:
Monitor economic indicators such as GDP growth, inflation, and interest rates
Assess the potential impact of economic downturns on the company’s revenue and profitability
Develop strategies to mitigate the effects of economic fluctuations on the business
Social risks:
Monitor changes in consumer behavior and preferences
Assess the potential impact of social trends on the company’s products and services
Develop strategies to adapt to changes in consumer demand
Technological risks:
Monitor advances in technology that may disrupt the company’s business model
Assess the potential impact of technological innovations on the company’s competitiveness
Invest in research and development to stay ahead of technological changes
Legal risks:
Monitor changes in laws and regulations that may affect the business
Assess the potential impact of legal changes on the company’s operations and compliance costs
Develop strategies to mitigate legal risks, such as insurance or implementing compliance programs
Environmental risks:
Monitor changes in environmental regulations and standards
Assess the potential impact of environmental factors on the company’s operations and supply chain
Develop strategies to mitigate environmental risks, such as implementing sustainable practices or investing in renewable energy.
Note: PESTLE Analysis is a framework for assessing the external factors that may affect a business. It is a useful tool for identifying potential risks and opportunities for a business.
PESTLE BUSINESS RISK PLAN
Risk Type
Key Considerations
Potential Impact
Mitigation Strategies
Political risks
Changes in government policies and regulations
Disruptions to operations and supply chain
Monitor political developments, develop contingency plans
Economic risks
Economic indicators such as GDP growth, inflation, and interest rates
Reduced revenue and profitability
Monitor economic indicators, develop strategies to mitigate effects of economic fluctuations
Social risks
Changes in consumer behavior and preferences
Reduced demand for products and services
Monitor social trends, develop strategies to adapt to changes in consumer demand
Technological risks
Advances in technology that may disrupt business model
Loss of competitiveness
Monitor technological developments, invest in R&D to stay ahead of changes
Legal risks
Changes in laws and regulations
Increased compliance costs and legal liabilities
Monitor legal developments, implement compliance programs and insurance
Environmental risks
Changes in environmental regulations and standards
Negative impact on operations and supply chain
Monitor environmental developments, implement sustainable practices and invest in renewable energy.
The risk of enterprise failure increases with inadequate governance risk and compliance processes
There are many examples of the biggest firms in the world collapsing due to bad risk management practices. Good corporate governance risk and compliance systems build business resilience and can improve business performance.
Subscribe to BusinessRiskTV for latest news headlines opinions risk analysis and reviews of success and failure in business
Subscribe to BusinessRiskTV for latest news headlines opinions risk analysis and reviews of success and failure in business
There are several techniques that can be useful for managing business rules in an organisation. Here are some recommendations:
Documenting business rules: One of the most important techniques for managing business rules is to document them in a clear and concise manner. This can include using a variety of formats such as decision tables, flowcharts, and natural language descriptions.
Centralising business rules: To avoid inconsistencies and duplication of effort, it is advisable to centralise the management of business rules. This can be done using a dedicated software tool or a repository that stores the rules and makes them accessible to relevant stakeholders.
Version control: It is crucial to keep track of changes to business rules over time, especially when multiple stakeholders are involved. Version control techniques such as branching and merging can help in managing changes to business rules.
Testing and validation: Business rules should be tested and validated thoroughly to ensure their accuracy and effectiveness. This can be done using a variety of techniques such as unit testing, integration testing, and user acceptance testing.
Auditing and monitoring: Regular auditing and monitoring of business rules can help to identify any potential issues or areas for improvement. This can be done using automated tools or through manual reviews.
Governance and ownership: Establishing clear governance and ownership of business rules is essential to ensure that they are being managed effectively. This can include assigning ownership to specific individuals or teams and establishing processes for reviewing and approving changes to business rules.
By following these techniques, organisations can effectively manage their business rules and ensure that they are aligned with their business objectives and regulatory requirements.
We help you grow your business online with BusinessRiskTV.com
How to grow your small business faster with BusinessRiskTV
Want to know how to grow a small business into a large business with BusinessRiskTV? Reach the right people at the right time with BusinessRiskTV. Grow your business with us. We help your business grow faster with less uncertainty. Grow your business by attracting new clients and customers with the money to buy your services or products.
Subscribe to BusinessRisk for free How To Grow Business Tips alerts and bulletins
Subscribe to BusinessRiskTV.com for free
Enter code #HowToGrowMyBusinessOnline
Tap into small business consulting services to help your business grow faster.
Let us help you grow your business.
How To Grow A Company Successfully
Increase online sales. Attract new customers to your products and services instead of those of your competitors. Pick up tips tools and techniques to grow your business faster.
Virtual Exhibition Platform To Showcase Your Business Products and Services To Buyers Already Interested In Your Type Of Business Offering Entering Code #VirtualExhibitionStand
Subscribe to find innovative ways to grow your business
Learn more about how to grow your small business faster. Penetrate new markets and create new revenue streams that are more profitable.
Subscribe to find innovative ways to grow your business entering code #GrowMyBusiness
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new people already interested in your type of business offering.
Find out how to promote your business locally and globally. CLICK HERE or email editor@businessrisktv.com entering code #Marketing
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Recommended articles and videos trending on BusinessRiskTV
Are you struggling to grow your business read on to find ideas to grow your business faster. Save your money and time. Discover new ways to grow your business. Use our tips to help your business grow. Take your business to the next level.
Business marketing ideas and eCommerce solutions with BusinessRiskTV.com
Online Business Development Ideas
Develop an innovative strategy to grow your business presence online. If you do not have a massive budget to grow your business online subscribe to BusinessRiskTV. Improve your online profile.
How To Grow Online Sales With BusinessRiskTV. CLICK HERE or email editor@businessrisktv.com entering code #Marketing
Our innovative internet marketing ideas can help grow your business faster online. No marketing experience is needed
Put your business products or services in front of new people already interested in your type of business offering.
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Subscribe to BusinessRiskTV to find out how to grow online sales
Subscribe to BusinessRiskTV to find out how to grow online sales enter code #GrowMyBusiness
Maximising Your Business Growth: Insider Strategies and Tactics from Industry Leaders
Maximising your business growth tips: sharing insider strategies and tactics from industry leaders to help you take your business to the next level.
Identify your target market.
Before you can start growing your business, you need to know who your target market is. This will help you tailor your products or services to meet the needs and wants of your ideal customer. To identify your target market, consider factors such as demographics, location, and interests.
Set clear goals and objectives.
In order to grow your business, you need to have a clear direction and plan in place. This means setting specific, measurable, achievable, relevant, and time-bound (SMART) goals and objectives. Having clear goals and objectives will help you stay focused and motivated as you work towards growing your business.
Invest in marketing and advertising.
Marketing and advertising are crucial to getting the word out about your business and attracting new customers. Consider investing in both traditional and digital marketing efforts, such as social media, email marketing, and content marketing.
Focus on customer satisfaction.
Happy customers are key to driving business growth. Make sure to prioritise customer satisfaction by providing high-quality products or services, responding to customer inquiries and complaints, and continuously seeking ways to improve the customer experience.
Diversify your revenue streams.
Diversifying your revenue streams can help protect your business from economic downturns and provide multiple sources of income. Consider offering new products or services, partnering with other businesses, or exploring alternative revenue streams such as licensing or franchising.
By following these insider strategies and tactics, you can take your business to new heights of growth and success. Remember to always keep your target market in mind, set clear goals and objectives, invest in marketing and advertising, focus on customer satisfaction, and diversify your revenue streams.
How to grow your business
Boost Your UK Business Revenue
Struggling to grow your UK business? This article reveals the critical link between revenue growth and business survival. Discover the top 5 threats to your business when revenue stagnates and learn proven strategies to overcome them. From deepening customer relationships to expanding market reach and driving sales and marketing effectiveness, this guide empowers you to take control of your business’s future. Join our Business Development Ideas LinkedIn group for free expert advice and networking opportunities. Don’t let stagnant revenue hold you back – unlock your business’s full potential today!
Business growth consultancy with BusinessRiskTV.com
What could you do today to cost effectively increase revenue? Find new business development ways to grow your business.
Are you interested in growing your business? Do you use online resources to attract new customers? Do you want to sell more online? Do you want help to grow your business faster online?
At BusinessRiskTV we can take some of the worry out of growing your business. We will ask the right questions to find the best way forward for your business.
Make better business decisions
Pick up business development tips advice and support
Use our sustainable business growth tools and techniques
Working with you to create long term value for your business. Developing your business faster with less uncertainty.
Subscribe to BusinessRiskTV for alerts and bulletins to new business development ideas
Are you interested in growing your business faster? Do you use the internet to attract new customers. Do you want to sell more online? Do you want us to help your business grow faster online?
Submit a question. Share your views and experiences. Please include a contact number if you are willing to speak to us. You can get in touch in the following ways:
Read business development articles and watch business growth ideas videostreams
Challenges Of Growing A Business and How To Meet Them With BusinessRiskTV.com
As a business grows, it will face various challenges that can hinder its growth and success. Here are some common challenges of growing a business and some tips on how to meet them with the help of BusinessRiskTV.com:
Cash flow management: Managing cash flow can be a challenge for growing businesses, especially if they have large overheads and expenses. BusinessRiskTV.com can help businesses develop a financial plan to ensure they have enough cash to cover their expenses and invest in growth opportunities.
Hiring and retaining talent: As a business grows, it will need to hire new employees to keep up with the demand. However, finding and retaining talented employees can be a challenge. BusinessRiskTV.com can help businesses develop an effective recruitment strategy and employee retention plan.
Scaling operations: Growing businesses need to scale their operations to meet the demands of their customers. However, scaling too quickly can lead to operational inefficiencies and quality issues. BusinessRiskTV.com can help businesses develop a growth strategy that balances speed and efficiency.
Managing risk: As a business grows, it becomes more exposed to risks such as cyber attacks, supply chain disruptions, and regulatory changes. BusinessRiskTV.com can help businesses identify and manage these risks by developing a risk management plan.
Competition: Growing businesses may face increased competition as they expand into new markets or attract new customers. BusinessRiskTV.com can help businesses develop a competitive strategy to differentiate themselves from their competitors.
Overall, growing a business can be a challenging process, but with the help of BusinessRiskTV.com, businesses can overcome these challenges and achieve their growth objectives.
Subscribe to Innovation and Entrepreneurship News Alerts and Bulletins for Free
Find out how innovation can help your business grow faster. Innovation is crucial for your long term success and business sustainability. BusinessRiskTV business innovation reviews. Making innovation more useful.
Subscribe to BusinessRiskTV.com for free
Recommended business risk management articles and videos
The latest news videos and discussion topics on business innovation.
Reach influencers key decision makers and the business leaders who will buy from your business
BUSINESSRISKTV INNOVATION AND ENTREPRENEURSHIP NEWS
Best practices in risk management with BusinessRiskTV.com
What are the main industry risk factors affecting your business success or failure today and tomorrow
Want to know more about the threats or opportunities within your industry?Need to develop your knowledge and skills at managing your industry risks? Find out more about industry risks management with BusinessRiskTV.
Find the best risk expert for your country or industry with BusinessRiskTV entering code #IndustryRiskManagement
Inform the way you think about your industry risks. Consider changes to the way you manage risk. Reduce the threats to your business. Open up new business development opportunities. Stay on top of key industry risk factors.
Business Leadership Articles
Introducing the BusinessRiskTV Industry Risk Management Forum
BusinessRiskTV industry risk management forum enables members to contribute to BusinessRiskTV. Active members around the world contribute articles and videos to help grow their business faster with less uncertainty to help inform readers industry business risk management decision making.
Boost your sales more profitably
Increase your network of business contacts
Protect your business uncertainty negatively impacting on your business
If you want an innovative flexible way to grow your business faster and build business resilience join and contribute to industry risk management forum today.
Members of the BusinessRiskTV business risk management club collaborate to reduce corporate threats and increase business growth opportunities through
business networking with key business decision makers locally and globally
improved risk assessment via better business intelligence
reduced cost of risk control via deals discounts and special offers
Build a more successful and sustainable business more easily with BusinessRiskTV Industry Risk Management Forum.
Join BusinessRiskTV Industry Risk Management Forum entering code #IndustryRiskManagement
Join the BusinessRiskTV Industry Risk Management Forum and receive FREE business risk alerts bulletins and latest business risk news to stay ahead of your competition.
The Forum is free to join. Then you choose whether you want to contribute to BusinessRiskTV to promote your own business and inform online readers. You pay an annual membership fee to regularly contribute to BusinessRiskTV and promote your business interests cost effectively.
BusinessRiskTV.com RiskWatch
Key benefits of BusinessRiskTV Industry Risk Management Forum and reasons to join and contribute today
Free to join. There is no cost to join the forum. Once you join you also have the option of contributing to BusinessRiskTV to better market promote and advertise your business. In addition you will have increased access to discussions workshops and executive training to better protect your business. You are in control of what to do next after you join the club for free.
Free business intelligence to inform your decision making to build your business resilience. Forum members receive free news alerts and bulletins. Our risk watch service scans the horizon for emerging risks and analyses business risk trends. You can attend online discussions workshops and executive training sessions.
Safe and secure. All payments are made through Paypal an independent third party online payment service which stops us receiving full details of your banking or payment details so you are protected by Paypals security systems.
Build your online profile and connections to grow your business faster. BusinessRiskTV has an impressive online profile to connect you with local and global business risk management experts and new sales for your business.
Join BusinessRiskTV Industry Risk Management Forum entering code #IndustryRiskManagement
FAST GROWING LOCAL AND GLOBAL BUSINESS RISK MANAGEMENT CONNECTIONS
BusinessRiskTV has already built up an impressive bank of like minded business leaders and business risk management consultants for club members to tap into for business tips advice and support.
The BusinessRiskTV Industry Risk Management Forum is carefully expanding its reach to help business leaders to better protect and grow their own businesses and careers.
BusinessRiskTV Industry Risk Management Forum is NOT just a talking shop. It is a business growth hub to practically accelerate members revenue streams. It is business accelerator where everyone has the same interest in seeing the businesses build resilience regardless of economic environment.
Join BusinessRiskTV Industry Risk Management Forum entering code #IndustryRiskManagement
You are in control of your relationship with us
In addition to controlling your own business risks better you are in total control of how you use BusinessRiskTV and how much you want to contribute to it to increase your own business growth.
You are always in control of your subscription to BusinessRiskTV Industry Risk Management Forum. You can choose to remain on the free membership and still receive free business intelligence and risk knowledge. Or you can regularly contribute to the content and thus increase your own business profile and business growth.
We are in it for the long term and look forward to working with members for sustainable mutual benefit. If you want to stop your membership you can at any time. We are looking forward to you working with us to help your business grow faster.
Examples of business intelligence and business growth features on BusinessRiskTV
BusinessRiskTV
Frequently Asked Questions FAQs
Is BusinessRiskTV Industry Risk Management Forum free to join and how does BusinessRiskTV make money? It is free to join now to receive free alerts bulletins and business risk news. If you want to contribute to BusinessRiskTV by becoming a Member you pay an annual fee. BusinessRiskTV also accepts donations to support free independent business risk management news broadcasting and business risk management research. In addition businesses pay us one off fees to promote market and advertise their business products and services.
Am I tied into the BusinessRiskTV Industry Risk Management Forum? It is free to join the forum. If you want to contribute to BusinessRiskTV there is a membership fee. You are free to leave the club at anytime. You will not be entitled to a refund of the annual membership fee but will not be tied to renew your membership.
How long does membership last? 12 months renewable annually.
I do not know anything about online business marketing and development? That is one of the great strengths about being in the Industry Risk Management Forum. You simply join now and then we will email you to find out what you need to do to grow your business faster. We will then go away and start your marketing and promotion campaign. We will design post and update your contributions to promote your business. Our team of enterprise risk experts and business risk advisers help protect and grow your business faster.
How fast will my business grow? It is impossible to say. It depends on how well we can work together to get the most from your existing business development tools and initiatives. The potential is there for massive gains but the value of your membership fee could be worthless if we fail to work well together. That is why our members should always diversify our marketing options to maximise the likelihood of increasing sales. We will guide you on the diversification options based on our discussions on what you offer and when. You are not putting all your business development eggs in one basket but the affordable membership fee expands the likelihood of your business growing faster.
How often can my business contribute to BusinessRiskTV? Contribution levels is based on hours it takes to produce and publish each contribution. You will be buying 56 hours of work to produce and publish your contributions each year.
Does my business need to contribute regularly to BusinessRiskTV? No. The more you contribute the more you promote your own business interests and increase the chances of faster business growth.
My business marketplace is not in UK so can I still join and contribute to BusinessRiskTV? YES! The Club is open to any business selling legal and morally acceptable products and services. Legal is legal but morally acceptable comes down to our own opinion as to what is morally acceptable. Areas include Europe USA Canada Latin America Australia and Asia Pacific.
Is paying my membership fee safe? Yes. Your membership fee will be paid via Paypal a global independent payment provider who have their own safe and secure payment systems. We will never see your full payment details as these are retained by Paypal who will transfer your membership fee to our Paypal account.
What is the annual membership fee? This will vary depending on how many members we have. As the number of members increase so will the annual membership fee so get in quick to keep your membership fee low!
Join BusinessRiskTV Industry Risk Management Forum entering code #IndustryRiskManagement
Sign up for free business risk management alerts reviews and comments via your preferred social media App; or email editor@businessrisktv.com to subscribe for free to our business risk management newsletter
Connecting UK suppliers and buyers online
By assessing and controlling economic risks you can minimise your business exposure to economic risks.
Keep up with the latest news opinions and economic risk reviews. Measure and manage the economic risks in the UK. Develop your risk management practices to fiscal economic risks.
Manage UK economic risks to export more and manage domestic risks.
Register for BusinessRiskTV Academy UK Economic Risk Management Workshops
If you are interested in reducing the UK economic risks to your business and seize new ways to grow your business faster register for free to receive alerts to upcoming economic risk management discussions webinars and workshops.
Register for BusinessRiskTV Academy UK Economic Risk Management Workshops
The Damaging Consequences of Overprinting Money
Overprinting money is the act of a government or central bank creating new currency units without a corresponding increase in the supply of goods and services. This can lead to a number of negative consequences for the global economy and businesses, including:
Inflation: Inflation is a general increase in prices and fall in the purchasing value of money. When there is too much money in circulation, it can lead to inflation as people are able to afford to pay more for goods and services. This can make it difficult for businesses to operate as their costs increase, and it can also lead to a decrease in the value of savings.
Decreased value of currency: When there is too much money in circulation, the value of the currency can decrease. This is because the currency becomes less scarce, and people are less willing to hold onto it. This can make it difficult for businesses to trade internationally, and it can also lead to a decrease in investment.
Increased interest rates: In order to combat inflation, central banks may raise interest rates. This can make it more expensive for businesses to borrow money, which can lead to a decrease in investment and economic growth.
Instability in financial markets: Overprinting money can lead to instability in financial markets. This is because it can lead to an increase in speculation and volatility in asset prices. This can make it difficult for businesses to raise capital and operate effectively.
Reduced trust in government: When governments resort to overprinting money to finance their spending, it can lead to a loss of trust in the government. This can make it more difficult for governments to raise taxes and borrow money in the future.
The negative consequences of overprinting money are not limited to the global economy. Businesses can also suffer a number of negative consequences, including:
Increased costs: When inflation rises, businesses may have to increase their prices in order to cover their costs. This can lead to a decrease in demand for their products or services.
Decreased profits: If inflation outpaces revenue growth, businesses may see their profits decrease. This can make it difficult for businesses to invest and grow.
Increased risk: When the value of the currency is unstable, businesses face increased risk. This is because they may not be able to predict how much their costs or revenues will increase in the future. This can make it difficult for businesses to make long-term plans.
Loss of market share: If businesses are unable to keep up with inflation, they may lose market share to competitors who are able to pass on higher costs to consumers.
The negative consequences of overprinting money can be severe and far-reaching. It is important for governments and businesses to be aware of these risks and to take steps to mitigate them.
What are the negative effects of reducing money supply?
Increasing credit crunch risk due to lack of money supply or unaffordable borrowing costs
Reducing the money supply can also have negative consequences for the economy. This is because it can lead to a decrease in economic growth, an increase in unemployment, and a decrease in asset prices.
When the money supply is reduced, it becomes more expensive for businesses to borrow money. This can lead to a decrease in investment and economic growth. It can also lead to an increase in unemployment, as businesses are less likely to hire new workers when it is more expensive to borrow money.
In addition, a decrease in the money supply can lead to a decrease in asset prices eg house prices, stock market shares, etc. This is because when there is less money in circulation, people are less likely to bid up the prices of assets. This can lead to losses for investors who own assets, such as stocks and property.
What are the disadvantages of excess money in circulation in an economy?
The disadvantages of excess money in circulation in an economy include:
Inflation: As mentioned earlier, inflation is a general increase in prices and fall in the purchasing value of money. When there is too much money in circulation, it can lead to inflation as people are able to afford to pay more for goods and services. This can make it difficult for businesses to operate as their costs increase, and it can also lead to a decrease in the value of savings.
Decreased value of currency: When there is too much money in circulation, the value of the currency can decrease. This is because the currency becomes less scarce, and people are less willing to hold onto it. This can make it difficult for businesses to trade internationally, and it can also lead to a decrease in investment.
Increased interest rates: In order to combat inflation, central banks may raise interest rates. This can make it more expensive for businesses to borrow money, which can lead to a decrease in investment and economic growth.
Instability in financial markets: Excess money in circulation can lead to instability in financial markets. This is because it can lead
Understanding Economic Indicators For Effective Risk Management
Economic indicators are statistics that provide information about a country’s economic performance and outlook. They are used by businesses, investors, and policymakers to make informed decisions about the economy.
Gross domestic product (GDP) is one of the most important economic indicators. It measures the value of goods and services produced within a country’s borders. A growing GDP is generally seen as a sign of a strong economy, while a decline in GDP can indicate a recession.
Another important economic indicator is the unemployment rate, which measures the percentage of the labor force that is unemployed but actively seeking employment. A low unemployment rate is usually seen as a sign of a strong economy, while a high unemployment rate can indicate weakness.
Inflation is another important economic indicator. It measures the rate at which the general level of prices for goods and services is rising. High inflation can indicate that an economy is overheating, while low inflation can indicate weakness.
Interest rates are also an important economic indicator. Central banks use interest rates to control inflation and stabilise the economy. Higher interest rates can slow down economic growth by making borrowing more expensive, while lower interest rates can stimulate growth by making borrowing cheaper.
Economic indicators can also be divided into leading, lagging, and coincident indicators. Leading indicators tend to change before the economy as a whole changes, and can provide early warning signs of an impending recession or recovery. Lagging indicators, on the other hand, tend to change after the economy as a whole changes, and can confirm the onset of a recession or recovery. Coincident indicators tend to change with the economy as a whole and tend to reflect the current state of the economy.
Effective risk management involves staying informed about economic indicators, understanding their significance, and using them to make informed decisions. By monitoring economic indicators, businesses and investors can anticipate changes in the economy and adjust their strategies accordingly.
In conclusion, Economic indicators are important tools for understanding the current state and future prospects of an economy. By monitoring key indicators such as GDP, unemployment, inflation, and interest rates, businesses and investors can make informed decisions and effectively manage risk.
Small medium sized businesses in UK growing faster with less uncertainty
SME business thinktank on business growth and development. Entrepreneurs and business leaders developing new income more profitably. Focus on reducing costs increasing productivity and maximising profit for small to medium sized businesses in the UK.
SME Business Leaders enter code #360Business
Join our interactive business think tank to network with business leaders to grow your business faster.
Join our interactive business risk management think tank online discussions news debate and workshops for business growth and protection
Free Up Time For Business
How do you free up your time to focus on what really matters for a successful business
Time is a precious commodity in the business world. As an entrepreneur, it’s easy to get bogged down with tasks and responsibilities that keep you from focusing on what’s most important for your business’s success. Here are some tips on how to free up your time to focus on what truly matters:
Delegate tasks: One of the biggest time-wasters for entrepreneurs is trying to do everything themselves. Delegate tasks to trusted employees or contractors to lighten your load and give you more time to focus on your strengths.
Automate routine tasks: Automation tools can save you a significant amount of time by streamlining repetitive tasks. From email marketing to invoicing, there’s a tool available to help you save time.
Prioritise tasks: Make a to-do list each day and prioritize tasks based on their importance. Focus on the most critical tasks first, and don’t waste time on tasks that can wait.
Manage your email: Email can quickly consume a lot of your time if you’re not careful. Set aside specific times each day to check your email, and avoid checking it constantly. Use filters and folders to keep your inbox organised.
Avoid multitasking: Multitasking may seem like an effective way to get more done, but it can actually slow you down and reduce your productivity. Focus on one task at a time and give it your full attention.
Set boundaries: Set boundaries for when you will and won’t be available for work. This can include not checking email after hours, not answering calls on weekends, or setting aside time for a lunch break.
Take care of yourself: Finally, make sure you’re taking care of yourself. Exercise regularly, get enough sleep, and make time for leisure activities. A well-rested and healthy mind is more productive and better equipped to tackle the important tasks at hand.
By following these tips, you can free up your time and focus on what really matters for a successful business. Remember, time is your most valuable resource, so prioritise it and use it wisely.
How to grow a small business tips with BusinessRiskTV
Subscribe to BusinessRiskTV for free How To Grow Business Tips by email
Learning how to grow a small business into a large business is not easy. BusinessRiskTV offers how to grow business tips advice and support services. Network with business leaders and risk professionals to learn how to grow a business online faster.
What must you do today to grow your small business? Learn how to grow revenue and profit faster that your industry norm. Our experts work alongside SMEs to design and implement business growth plans.
Put your products or services in front of new buyers more innovatively and dynamically
Link into your existing sales process direct from BusinessRiskTV. Increase the number of your revenue streams more profitably. Grow your business faster more sustainably.
Running a successful business is never an easy task. There are always challenges to be faced, risks to be managed, and competitors to be outsmarted. That’s why it’s important to have a solid strategy in place, and to constantly evolve and adapt as your business grows and changes.
One resource that can be incredibly helpful for business owners looking to grow their companies quickly is BusinessRiskTV.com. This online platform offers a wealth of resources and information designed to help businesses manage risk, navigate challenges, and stay ahead of the competition. In this article, we’ll explore some of the ways that BusinessRiskTV.com can help you grow your business fast.
Understanding the Risks
One of the first steps to growing your business quickly is to understand the risks involved. BusinessRiskTV.com offers a range of resources and information to help you identify potential risks to your business, and to develop strategies to mitigate those risks.
For example, the platform provides access to a range of risk management tools, including risk assessments, risk registers, and risk mapping tools. These tools can help you identify the areas of your business that are most vulnerable to risk, and to develop strategies to mitigate those risks.
In addition to these tools, BusinessRiskTV.com also offers a wealth of information and resources on risk management best practices. This includes articles, whitepapers, and case studies that provide insights and advice on how to effectively manage risk in your business.
Navigating Regulatory Compliance
Another challenge that businesses face when trying to grow quickly is navigating complex regulatory requirements. BusinessRiskTV.com can help you stay on top of regulatory compliance, with resources and information on everything from data protection regulations to health and safety requirements.
The platform provides access to a range of compliance tools and resources, including compliance checklists, compliance calendars, and compliance training materials. These resources can help you ensure that your business is meeting all of its regulatory obligations, and can help you avoid costly fines and penalties.
Networking and Collaboration
Another key factor in growing your business quickly is networking and collaboration. BusinessRiskTV.com provides a range of networking and collaboration opportunities, including forums, webinars, and events.
The platform’s forums are a great place to connect with other business owners and industry experts, and to share ideas and insights. The webinars and events offered by BusinessRiskTV.com provide opportunities to learn from industry leaders, and to connect with potential partners and collaborators.
In addition to these networking opportunities, BusinessRiskTV.com also offers a range of collaboration tools, including project management tools and document sharing platforms. These tools can help you collaborate effectively with partners, suppliers, and other stakeholders, and can help you streamline your business processes.
Marketing and Promotion
Finally, effective marketing and promotion is essential for growing your business quickly. BusinessRiskTV.com offers a range of marketing and promotion resources, including advertising opportunities, content marketing tools, and social media promotion tools.
The platform’s advertising opportunities include banner ads, sponsored content, and email marketing campaigns. These can help you reach a wider audience and promote your products and services to potential customers.
The content marketing tools offered by BusinessRiskTV.com include access to a range of industry-specific blogs, as well as content creation and distribution tools. These can help you create and promote content that resonates with your target audience, and can help you establish your brand as a thought leader in your industry.
Finally, BusinessRiskTV.com offers a range of social media promotion tools, including social media management software and analytics tools. These can help you track the performance of your social media campaigns, and can help you identify opportunities to improve your social media marketing strategy.
BusinessRiskTV.com is an excellent resource for businesses looking to grow quickly. The platform offers a range of tools, resources, and networking opportunities designed to help businesses manage risk, navigate complex regulatory requirements, collaborate effectively, and market and promote their products and services to a wider audience.
By taking advantage of these resources, businesses can not only grow quickly but can also do so while managing risk effectively. The platform provides access to a wealth of information and resources, as well as opportunities to connect with other business owners and industry experts.
In a world where competition is fierce, having access to the right resources can make all the difference. With BusinessRiskTV.com, businesses can gain a competitive advantage by staying ahead of the curve and effectively managing risk, while also building valuable relationships and promoting their products and services to a wider audience.
Overall, BusinessRiskTV.com is a valuable resource for any business looking to grow quickly and effectively. Whether you’re just starting out or are looking to take your business to the next level, this platform can provide the tools and resources you need to succeed in today’s fast-paced business environment.
Protect and grow your business with the best assets your business needs with help from BusinessRiskTV
Beating your competitors to top high performing talent
Fill your skills gaps faster to increase your business productivity with better access to more high-performing recruits. Attract develop and retain talent your competitors can’t find or attract.
A growing skills gap in the UK Australia and USA will hold back organisations who are not more innovative and creative with their recruitment process. It is one of the biggest threats to corporate objectives this year.
Retaining increasingly expensive employees is also key to improve business model sustainability.Its more profitable to keep talented high performers. They have the skills and knowledge to help you grow faster and replacing them will impact on your profit and make it less likely you will achieve your business objectives.
So you’ve got talented staff but how do you turn them into high performers
Attracting and retaining the best employees can be supported by selling and delivering better employee engagement strategy. Engage your employees more to help you achieve your business objectives with more certainty.
Recruitment strategies to attract and retain talent in UK
How do you attract the right employees to help you improve your business performance? Many employees are looking for an opportunity to help your business grow faster. To retain such employees you need to develop them to help develop your business.
We can work with you to turn new recruit enthusiasm into improved results working together with more established employees who know your business processes and objectives well.
There is enormous costs associated with recruiting employees. What a waste to let this talent pass leave quickly through high turnover of staff. Work harder at retaining staff and not only will you boost your business performance, but you will reduce your recruitment costs, as people will stick with you, not leave to join your competitor.
Get help from BusinessRiskTV to help you attract and retain the best people in the UK. Increase your chances of business success by developing your existing business leaders to implement a new improved business strategy.
High employee turnover costs you time, money and your personal productivity. Top talent is hard to attract and even harder to keep. Adopt new more creative ways to source, select and retain talented employees.
Reshape and redefine your employer-employee relationship. Learn more about more creative ways to attract employees, help them perform better to keep them longer
Recruit and Retain Employees More Easily and Cost Effectively enter code #AttractingEmployees
Solve your business problems faster with BusinessRiskTV.com
Answering your workplace and business protection and growth questions
SME entrepreneurs and business leaders face many barriers to business resilience and sustainable business growth. Our business management experts help you overcome barriers to business success.
Find out for free how to protect your business better and grow it faster.
From SME finance to making SME borrowers more attractive to financers including banks.
Ask questions about your energy bills and tariffs and how to switch to a better deal.
Develop a new strategy for faster sustainable business growth in the UK and overseas.
Small and medium sized business owners and managers can find out business solutions to their problems for free on BusinessRiskTV SME Business Question Time workshops.
Get expert advice tips and support for your business in UK. Pick the brains of other business leaders to garner the secrets to their successful SME business project. We put the questions you really need answers for to business management experts so you can overcome barriers to your success more quickly without reinventing the wheel.
No one person can answer all your questions relating to your business problems so we ask along specific industry or country risk experts to help your business address real-life issues restricting your success.
BusinessRiskTV Business Agony Uncle
Do you have a business or SME related query you need an answer for?
Get in touch and we’ll put together a panel of business experts to answer your questions for free. Complete the form below to set the questions we wil find answers to in coming Business Question Time Online Workshops.
Understand what your key threats and opportunities really are with BusinessRiskTV
Take The Courage To Embrace Potential Failure Of Business
You Control the Solutions to Your Business Problems: Exploring Creative Thinking and Problem Solving in Business
In the dynamic landscape of business, problems are inevitable. From operational inefficiencies to market challenges, businesses face a myriad of obstacles that require strategic thinking and effective problem-solving skills. The ability to identify, analyse, and resolve these issues is crucial for organisational success and growth. This article explores the significance of problem solving in the business realm, delving into the BusinessRiskTV model as a powerful tool for addressing challenges. Furthermore, it highlights the role of creative thinking in problem solving and provides three practical ways businesses can leverage creativity to overcome obstacles.
Understanding the Solution to Business Problems Before diving into the solutions, it is essential to grasp the concept of business problems and their significance. Business problems can range from operational bottlenecks to strategic dilemmas, and their resolution plays a vital role in maintaining competitive advantage and ensuring sustainability. By identifying the root causes of problems and employing appropriate problem-solving techniques, businesses can create innovative solutions that drive progress and success.
The BusinessRiskTV Model of Problem Solving The BusinessRiskTV model offers a structured approach to problem solving, enabling businesses to navigate challenges effectively. This model involves six key steps: problem identification, analysis, solution generation, evaluation, implementation, and review. By following these steps, organisations can systematically address problems, ensuring comprehensive and sustainable solutions. The model encourages a proactive mindset, emphasising the importance of continuous improvement and learning from past experiences.
The Importance of Solving Business Problems Solving business problems holds numerous benefits for organisations. Firstly, it helps optimise operational efficiency by identifying and eliminating inefficiencies, reducing costs, and improving productivity. Secondly, problem solving enables businesses to adapt to changing market conditions, seize opportunities, and stay ahead of the competition. Furthermore, effective problem-solving fosters a culture of innovation, empowering employees to think critically and contribute to the organisation’s growth.
Leveraging Creative Thinking in Problem Solving Creative thinking plays a crucial role in solving complex business problems. By encouraging fresh perspectives, challenging assumptions, and exploring unconventional solutions, businesses can unlock new possibilities and generate innovative ideas. This section explores three key ways in which organisations can utilise creative thinking:
a. Divergent Thinking: Encouraging brainstorming sessions and open discussions enables teams to generate a wide range of ideas. By embracing diversity and inclusivity, businesses can tap into the collective wisdom of their workforce and uncover unique solutions.
b. Design Thinking: This human-centered approach emphasises empathy, understanding, and collaboration. By immersing themselves in the customer’s perspective, businesses can develop innovative solutions that cater to their needs, preferences, and pain points.
c. Reverse Thinking: This approach involves challenging the status quo and flipping the problem on its head. By questioning assumptions and exploring alternative perspectives, businesses can discover fresh insights and uncover unconventional solutions.
Solving business problems is an imperative aspect of organisational success. By embracing the BusinessRiskTV model and incorporating creative thinking, businesses can take control of their challenges and pave the way for innovation and growth. The ability to identify problems, analyse their root causes, and generate effective solutions enables organisations to adapt to dynamic market conditions and gain a competitive edge. Moreover, by fostering a culture of creative thinking, businesses can unlock new perspectives and ideas, fueling continuous improvement and long-term success. Ultimately, the power to control the solutions to business problems lies within the organisation itself, and by leveraging their resources, knowledge, and creativity, businesses can overcome obstacles and thrive in an ever-evolving business landscape.
Know with more certainty what your business could achieve if it makes some changes.
Use risk management experts to help you make right choices
Once you know what your biggest business problems are you can identify how to best use limited business resources to reap the quickest gains to achieve greater business success more quickly.
Too often people in business at all levels of the organisation are working extremely hard. This can be a problem because they can burn out whilst solving problems that do not matter to the achievement of key business objectives. Solutions include employing more staff to work on the same minor business problems then business leaders wonder why they are spending more without any increase in business productivity and no business performance improvement.
Improving business performance requires better use of existing key business assets for a better return in your investment of time and money.
Develop the quality and capacity of your workforce to achieve more for themselves and the business
Training employees to help themselves will help your business achieve its objectives by overcoming the biggest business problems more easily with existing resources.
Get Help To Grow Your Business Faster – BusinessRiskTV.com
If you can answer this question immediately and with near absolute certainty then you should be performing pretty efficiently already. If not why haven’t you taken steps to remove barriers to your greater business and personal success?
Develop a new business management strategy with a new decision making process designed to help you identify evaluate and manage your biggest business problems more cost-effectively. If you can’t tell us what your biggest problems are in a very short summary of the key information then you haven’t truly identified your biggest critical business problems impacting on your business objectives.
Discover How To Beat The Competition In Sales
You could develop a new business strategy for success that is less complicated, cheaper to implement and brings greatest rewards if you change your thinking about business management.
This could be a pivotal momentum for your business
You either know exactly what you need to do today to change your business trajectory or you may need a little outside help. BusinessRiskTV can provide that help. If you do not need help we wish you well for the future. If you do need help get in touch below and tell us what you need help with.
Business Risk Management Help Tips Advice Support
BusinessRiskTV Pragmatic Practical Business Solutions For Your Biggest Business Problems
Entrepreneurship tips advice and support on BusinessRiskTV. Entrepreneur business articles. Entrepreneurs sharing best practices to help other entrepreneurs. Find best entrepreneur and business forums for your business ideas and problems.
Take control of your future for more successful outcomes. Identify assess and manage future risks today. Make the future you want for your business by being better informed via our horizon scanning services.
Business News Headlines Debate Opinions and Enterprise Risk Analysis
Access tips entrepreneurs to be successful from your phone pc or mobile device. Pick up tips for success in business.
Are you an aspiring entrepreneur who wants to start a business on your own?Have you just set up a business and need help you overcome a business problem? Become a more successful entrepreneur with BusinessRiskTV.
Entrepreneur tips and strategies
Advice for aspiring entrepreneurs can overcome problems faster. Improve your foresight to adapt your business for improved success in future.
Identify a suitable business mentor to make progress faster and reduce uncertainty. Ask top business leaders to share their advice for entrepreneurs. Use our business coaching webinars to find out more about best working practices.
Great Marketing Solutions for Every Business Owner with BusinessRiskTV
BusinessRiskTV Marketing Solutions
As a business owner, it’s essential to find the right marketing solutions that can help you attract new customers, increase your brand awareness, and ultimately grow your business. However, with so many marketing channels and strategies available, it can be challenging to know where to start and what to focus on.
Fortunately, BusinessRiskTV is a platform that offers great marketing solutions for every business owner, regardless of their size or industry. In this article, we’ll explore some of the best marketing solutions offered by BusinessRiskTV and how they can benefit your business.
BusinessRiskTV Directory Listing One of the simplest yet effective marketing solutions offered by BusinessRiskTV is their directory listing service. By listing your business on their directory, you can increase your online visibility and make it easier for potential customers to find you.
BusinessRiskTV’s directory is organised by industry and location, making it easy for users to find businesses that match their needs. By listing your business on their directory, you’ll also benefit from increased exposure to BusinessRiskTV’s user base, which includes business owners, entrepreneurs, and investors.
BusinessRiskTV Video Marketing Video marketing is becoming an increasingly popular way for businesses to reach new customers and engage with their existing ones. BusinessRiskTV offers a range of video marketing solutions, including:
Video production: BusinessRiskTV can help you create high-quality videos that showcase your products or services, share your brand story, or provide educational content that helps your customers.
Video hosting: Once your videos are produced, BusinessRiskTV can host them on their platform, making it easy for you to share them on social media or embed them on your website.
Video promotion: BusinessRiskTV can also help promote your videos to their user base, increasing your exposure and engagement.
BusinessRiskTV Social Media Marketing Social media is a powerful tool for businesses to connect with their customers and build brand awareness. BusinessRiskTV offers a range of social media marketing solutions, including:
Social media management: BusinessRiskTV can help you manage your social media presence by creating and scheduling posts, monitoring your accounts for engagement, and providing analytics to track your progress.
Social media advertising: BusinessRiskTV can help you create and run social media ads that target your ideal audience and drive traffic to your website or landing pages.
Influencer marketing: BusinessRiskTV can connect you with social media influencers who can help promote your products or services to their followers.
BusinessRiskTV Content Marketing Content marketing involves creating and sharing valuable content that attracts and engages your target audience. BusinessRiskTV offers a range of content marketing solutions, including:
Blogging: BusinessRiskTV can help you create and publish blog posts that share your industry insights, highlight your products or services, or provide educational content for your customers.
Email marketing: BusinessRiskTV can help you create and send email newsletters that keep your customers informed about your business and provide them with exclusive offers or promotions.
Whitepapers and eBooks: BusinessRiskTV can help you create longer-form content such as whitepapers and eBooks that provide in-depth information about your industry or products/services.
BusinessRiskTV SEO Search engine optimisation (SEO) is the practice of optimising your website and online content to rank higher in search engine results pages (SERPs). BusinessRiskTV offers a range of SEO solutions, including:
On-page SEO: BusinessRiskTV can help you optimise your website’s structure, content, and metadata to make it more search engine-friendly.
Off-page SEO: BusinessRiskTV can help you build high-quality backlinks to your website, which can improve your search engine rankings.
Local SEO: BusinessRiskTV can help you optimise your website and online listings to rank higher in local search results, making it easier for local customers to find and connect with your business.
BusinessRiskTV Event Marketing Hosting events is a great way for businesses to connect with their customers and build brand awareness. BusinessRiskTV offers a range of event marketing solutions, including:
Event planning: BusinessRiskTV can help you plan and organize events that showcase your products or services, provide educational content for your customers, or build relationships with industry leaders.
Event promotion: BusinessRiskTV can help promote your events to their user base, as well as create and distribute promotional materials such as flyers and social media posts.
Event management: BusinessRiskTV can help you manage your events, from registration and ticketing to on-site management and post-event follow-up.
BusinessRiskTV Branding and Design Branding and design are crucial components of any marketing strategy. BusinessRiskTV offers a range of branding and design solutions, including:
Logo design: BusinessRiskTV can help you create a logo that reflects your brand identity and resonates with your target audience.
Brand identity: BusinessRiskTV can help you develop a cohesive brand identity that includes your logo, colour scheme, typography, and other visual elements.
Graphic design: BusinessRiskTV can help you create eye-catching graphics for your website, social media, and marketing materials.
BusinessRiskTV offers a wide range of marketing solutions that can benefit businesses of all sizes and industries. From directory listings to video marketing, social media management, content marketing, SEO, event marketing, and branding and design, there’s something for every business owner looking to increase their online visibility, attract new customers, and grow their business.
By partnering with BusinessRiskTV, you can access these marketing solutions and benefit from their expertise in the field. They have a deep understanding of the latest marketing trends and strategies, as well as a user base that spans industries and regions.
If you’re looking for great marketing solutions for your business, consider partnering with BusinessRiskTV to take your marketing efforts to the next level.
#BusinessRiskTV #Entrepreneurs
BusinessRiskTV Entrepreneur Advice For Aspiring Business Owners
Expand your small business faster with BusinessRiskTV
Improving Small Business Performance and Sustainability
Developing skills for business leadership. Small business leadership development. Sharpen the saw! Small business leadership training with BusinessRiskTV. Developing your skills will prove helpful in a rapidly changing business environment.
Helping small business leaders to grow faster with less uncertainty. Learn how to grow your small business. Find out how to promote your business more profitably. Develop skills to take your business to the next level.
Enter code #SMEBusinessLeadership. CLICK HERE to find out more.
Entrepreneurs Learning Leadership Skills From Their Phone PC or Mobile Device
Do you feel your management skills are maximising the return on your investment of time and money? No? Maybe you need a little help for free to brush-up the way you are doing things to boost your business performance and increase your business sustainability?
Take your business forward with the help of your most valuable assets – your employees by squeezing every last penny out of them without alienating them!
Overcoming Coronavirus Business Impact With BusinessRiskTV
You may have already built a successful business. Or you want to start your own new business. Kicking on is not easy. Would you welcome some free help to make better business decisions?
Business leaders should never stop learning how to work better with their employees to find a way to achieve business and personals goals.
Small business owners and managers could improve the leadership and management skills with BusinessRiskTV. You may well be brilliant at what you do, but how can you inspire and encourage those who work for you to be brilliant too?
Get help to motivate your employees to be more creative and more risk aware. Let them see how this will benefit them personally as well as the business. Your business success may will depend on how inclusive your business culture is.
Learn how to work better with key business assets to improve return on your investment of time and energy. Build a better team by improving your leadership capability.
BusinessRiskTV hosts leadership skills development events online for free to help entrepreneurs improve what they know and implement knowledge more practically.
What Business Leaders Need to Know Today: Keys to Effective Leadership and Essential Skills
In today’s rapidly evolving business landscape, successful leaders must possess a unique set of skills and knowledge to navigate the complexities and challenges they face. This article explores the essential skills that business leaders need to cultivate and the keys to being an effective leader in the current business environment. Additionally, we will highlight the valuable resources available on BusinessRiskTV.com to assist business leaders in their quest for excellence.
I. Adaptability and Agility: One of the primary skills business leaders need today is adaptability. The ability to respond to change quickly and effectively is crucial in a dynamic market. Leaders should be open to new ideas, embrace innovation, and encourage their teams to think creatively. BusinessRiskTV.com offers insightful articles and resources on change management, strategic planning, and organisational agility, providing leaders with valuable insights into adapting their businesses to thrive in an ever-changing environment.
II. Emotional Intelligence and Relationship Building: Emotional intelligence (EI) is another vital skill for leaders in today’s business world. Leaders must have the ability to understand and manage their own emotions while also empathising with their employees, clients, and stakeholders. Building strong relationships and fostering a positive work culture is essential for long-term success. BusinessRiskTV.com offers resources on leadership development, communication strategies, and employee engagement, empowering leaders to enhance their emotional intelligence and create meaningful connections within their organisations.
III. Strategic Thinking and Decision-Making: Business leaders must possess excellent strategic thinking and decision-making skills. They need to have a clear vision for their organisation and be able to develop and execute effective strategies to achieve their goals. Moreover, leaders must make informed decisions based on data and market insights. BusinessRiskTV.com provides valuable resources on strategic planning, risk management, and market analysis, equipping leaders with the knowledge and tools needed to make strategic decisions with confidence.
IV. Resilience and Risk Management: In today’s uncertain business landscape, leaders must be resilient and adept at managing risks. They should anticipate potential challenges, develop contingency plans, and lead their teams through difficult times. BusinessRiskTV.com offers a wealth of resources on risk management, crisis leadership, and resilience strategies, enabling leaders to proactively identify and mitigate risks, ensuring the continuity and long-term success of their organisations.
V. Continuous Learning and Innovation: Successful business leaders recognise the importance of continuous learning and innovation. They actively seek opportunities to expand their knowledge and skills, staying updated on industry trends, emerging technologies, and best practices. BusinessRiskTV.com provides a platform for leaders to access industry-specific insights, thought leadership articles, and expert opinions, fostering a culture of continuous learning and innovation within their organisations.
VI. Effective Communication and Team Management: Leadership is about effectively communicating goals, expectations, and feedback to team members. Business leaders must be skilled communicators who can inspire and motivate their teams, fostering collaboration and achieving optimal performance. BusinessRiskTV.com offers resources on effective communication techniques, team management strategies, and leadership development programs, equipping leaders with the necessary skills to lead and manage diverse teams successfully.
VII. Ethical Leadership and Corporate Social Responsibility: In today’s business environment, ethical leadership and corporate social responsibility (CSR) are crucial for building trust and maintaining a positive reputation. Business leaders should prioritise ethical decision-making, accountability, and sustainability. BusinessRiskTV.com provides resources on ethical leadership, CSR strategies, and sustainable business practices, guiding leaders in creating a purpose-driven organisation that contributes positively to society and the environment.
McKinsey found recently that a third of buyers would spend up to half a million dollars without speaking to anyone. People just want to know they will be served. It’s not just about relationships. They ask “Where do I access information I need without being in 4 hour zoom call”. Buy risk management support differently. Be served online today 24/7. Achieve what you need for your business more cost effectively more easily with better risk management information and support.
BusinessRiskTV
Business leaders of today face unique challenges and opportunities in a rapidly evolving business landscape. By cultivating essential skills such as adaptability, emotional intelligence, strategic thinking, and resilience, leaders can navigate these challenges successfully. The keys to effective leadership lie in continuous learning, effective communication, and ethical decision-making. BusinessRiskTV.com serves as a valuable resource hub, offering insights and tools that empower leaders to enhance their skills, make informed decisions, and drive their organisations towards long-term success in a rapidly changing world.
The majority act like sheep when the proverbial hits the fan
Conformity Of Global Financial Leaders Led To 2008 Financial Crisis
Global financial leaders made faulty decisions because as a group they lost touch with reality and had an inherent poor moral compass. That has not changed. GroupThink will cause or make worse the next global disaster.
Global Leaders Poor Moral Compass Will Lead To Next Financial Crisis
The financial services industry is like a cartel. It deliberately publishes false economic risk analysis and critically evaluates global risks to benefit the financial services preferred strategic direction. Such groupthink is creating business decision making that will lead to financial failure yet again.
The City is thinking as one to protect The City not to develop a sustainable UK economy. It is fighting to protect itself in the short to medium term. If it succeeds it will miss the opportunities for more rapid business growth and the UK will miss out too.
The financial services industry is a highly cohesive and organised sector of the economy which is massively supported by the media and politicians.
Enlightened Holistic Risk Management Framework and Risk Assessment Process
The saviour of capitalism is the full adoption of enterprise risk management ERM principles and practices.
Enlightened Holistic Risk Management Framework and Risk Assessment Process
Get In Touch BusinessRiskTV
Do you want to have your say on current or future business or society risks? Email editor@businessrisktv.com.
