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The global economy is facing a number of headwinds in 2023, including the ongoing wars in Ukraine and Gaza, high inflation, and rising interest rates. These factors are expected to lead to lower economic growth and a softening jobs market in the United States, European Union, and United Kingdom in 2024.
Business leaders need to be prepared for these challenges and take steps to mitigate the risks to their businesses. In this article, we will provide an overview of the economic outlook for 2024 and offer advice on risk management for business leaders.
Economic Outlook for 2024
The International Monetary Fund (IMF) (before taking into account war in Gaza) has forecast that global economic growth will slow to 3.2% in 2024, down from 3.6% in 2023. This is the slowest pace of growth since the global financial crisis in 2009.
The IMF expects the US economy to grow by 1.7% in 2024, down from 2.3% in 2023. The EU economy is expected to grow by 1.9% in 2024, down from 2.6% in 2023. The UK economy is expected to grow by 1.0% in 2024, down from 2.2% in 2023.
The slowdown in economic growth is expected to lead to a softening of the jobs market. The IMF expects the unemployment rate in the US to rise to 4.0% in 2024, up from 3.7% in 2023. The unemployment rate in the EU is expected to rise to 7.0% in 2024, up from 6.7% in 2023. The unemployment rate in the UK is expected to rise to 4.5% in 2024, up from 4.2% in 2023.
Risk Management Advice for Business Leaders
In light of the economic outlook, business leaders need to be prepared for the following risks:
Lower demand for goods and services: As economic growth slows, consumers and businesses are likely to spend less. This could lead to lower sales and profits for businesses.
Softening jobs market: As the unemployment rate rises,businesses may have difficulty finding and retaining qualified workers. This could lead to higher labour costs and disruptions to operations.
Rising interest rates: Central banks are raising interest rates in an effort to combat inflation. This could make it more expensive for businesses to borrow money and invest in growth.
Supply chain disruptions: The ongoing war in Ukraine (and new war in Gaza) and other factors have caused disruptions to global supply chains. This could make it difficult for businesses to obtain the materials and components they need to produce their goods and services.
Business leaders can take a number of steps to mitigate these risks, including:
Diversify their customer base and product mix: This will help to reduce their reliance on any one customer or product line.
Invest in technology and automation: This can help to improve efficiency and productivity, and reduce labor costs.
Lock in long-term contracts with suppliers: This can help to mitigate the risk of supply chain disruptions and price increases.
Build up their cash reserves: This will give them a financial cushion to weather any downturns in the economy.
In addition to these general risk management measures, business leaders should also consider the specific risks that are relevant to their industry and sector. For example, businesses in the retail and hospitality sectors may be more vulnerable to lower consumer spending. Businesses in the manufacturing sector may be more vulnerable to supply chain disruptions.
By taking the necessary steps to manage risks, business leaders can increase their chances of success in 2024 and beyond.
Specific Risk Management Strategies for Different Industries
Retail: Retail businesses can focus on increasing sales through online channels, offering discounts and promotions, and improving customer service. They can also reduce costs by streamlining their operations and negotiating better deals with suppliers.
Hospitality: Hospitality businesses can focus on attracting and retaining tourists, offering special packages and promotions, and improving the customer experience. They can also reduce costs by streamlining their operations and negotiating better deals with suppliers.
Manufacturing:Manufacturing businesses can focus on increasing productivity, reducing costs, and diversifying their product mix. They can also mitigate supply chain risks by building
Will you be unscathed from, or even benefit from, global financial tsunami?
A global economic tsunami is breaking. The impact will increase substantial in 2023. This global economic tsunami was triggered in spring of 2020. An economic atomic bomb was set-off deliberately, accidentally or carelessly by central banks and national governments around the world to protect businesses from Covid pandemic. The medicine has proven to be worse than the illness. Perhaps if the medicine was moderated the global financial tsunami we are just starting to suffer from would not have been created. Instead the world become addicted and then seemingly oblivious to the impeding danger of uncontrolled money printing and quantitative easing QE and cheap money swamping the global economy.
How likely is a global economic collapse?
The best we can hope for is a long deep depression not short shallow recession. If we are lucky we will avoid global economic collapse. However, it is probably 60:40 that a global economic collapse will happen. We are in a bad place from which we can recover at present, but poor decision-making from here will turn a bad situation into a global economic collapse.
How did we get here?
Central banks slashed interest rates to near zero and even negative in some countries and printed fake money out of thin air professionally called QE. Once the sluice gates were opened and cheap to free money was splashed everywhere, inflation was inevitable – too much money and too little supply after supply chains were cut or severely restricted. Our central bankers and politicians tried to convince us printing more money in two years than has ever been printed ever before was creating just transitory inflation spikes. However, the runaway money printing has created difficult to control embedded inflation caused largely by business leaders profiteering. Business profits in 2021 2022 are off the scale and now employees want their share to compensate for loss of income in real terms against inflation and we are facing a winter of discontent at best in some countries, and in others, riots in the streets.
The next phase following increased business profits and resentful employees wanting higher pay will morph into business cuts and increased layoffs including rising unemployment and higher business closures.
The global economic tsunami is hitting some shores already. In Cryptoland we have seen the collapse of the second biggest crypto exchange or marketplace in the world. In the Bankingland firms like Credit Suisse could yet collapse. In the global financial tsunami in 2008 Lehmann Bros bank collapsed and was a high-profile casualty of the financial sector self-induced global financial crisis. Credit Suisse is a much bigger bank than Lehmann Bros bank. The collapse of Credit Suisse would induce global economic collapse. In the 2008 global financial tsunami, banks like Royal Bank Of Scotland RBS were considered too big to fail and became UK government owned (something like 87% owned). Slowly RBS is being sold off by the UK government but some 14 years later RBS has still not recovered. In fact, it kinda never recovered as it has been rebranded as Natwest bank. The RBS bank brand “too big to fail” washed away in the global financial crisis of 2008. Which big financial sector brands will be washed away by the global financial tsunami 2022?
Retail investors, the little people, are like the people you see in real tsunami videos. They have been running about, bemused by the water initially disappearing from the beach or port. Retail investors have bought assets in 2021 2022 thinking that this is a buying opportunity that could setup up their investment for life. In fact, 2023 will be the buying opportunity of a life for investing in your future after the tsunami has wiped out money zombie companies unable to access cheap money any more. The remaining businesses will be on offer at sale prices. Retail investors have been or are about to be wiped out. S&P500 companies will make very little profit in 2023, if any, and their capitalisation will fall still further than a bad 2022 has hit share values. Institutional investors will hoover up cheap stocks and benefit in 2025 when shares will skyrocket once again, but many retail investors will have drowned in the global financial tsunami.
Propertyland will be a slower burn, or partial drowning, in that some parts of world will go under into negative territory whilst other parts of the world will tread water for a year or two before recovering. Property prices are falling in some parts of the world. Some parts will experience a property price correction, but others will suffer property price collapse.
Manufacturingland and Retailland are further inshore from the beach. When the global financial tsunami breaks in 2023 many businesses will simply be washed away never to recover. Others will rebuild and prosper with less competition to eat into profit.
Some politicians in the likes of USA try to tell you that inflation is no biggy! That should really be interpreted as the tsunami wave to hit in 2023 is no longer 100 feet high – it’s only 90 feet high! Will such a drop protect your business?
In fact, whilst official inflation figures may well drop slightly in 2023, some inflation like food inflation is unlikely to fall and could even increase as the effects of things like war in Ukraine, less fertilisation of the soil due to cost of fertilsers and policymakers restricting farmers from farming for climate protection reasons feed into the food supply chain in 2023.
How do we dig ourselves out of this hole we dug for ourselves or how does your business stop itself from falling into the hole with everyone else?
Relief from inflation will not happen until 2024 – if ever. It is unlikely that we will ever undershoot central bank interest rate targets of 2 percent ever again, or at least for decades.
You will need to set your business strategy to navigate a more difficult year in 2023 than 2022 was. Certain things outside of your control could dramatically make life easier in 2023 than can be realistically anticipated just now. Russia and Ukraine could agree a peace deal in 2023 for example. Santa is unlikely to bring this before the end of 2022 and there is little sign that 2023 will bring peace to these countries or the rest of the world. Even if the fighting was to stop now, the global economic pain will continue throughout 2023.
What is within your control to manage the risks to your business in 2023?
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The Travel Rule: Implications for Businesses and Investors in the UK
The Travel Rule (effective from 1st September 2023 in UK) is an international standard that requires financial institutions to collect and share information about cryptocurrency transfers. It was developed by the Financial Action Task Force (FATF), an intergovernmental organisation that sets standards for combating money laundering and terrorist financing.
The Travel Rule applies to all businesses that facilitate cryptocurrency transfers, including exchanges, wallets, and payment processors. In the UK, the Travel Rule will be enforced by the Financial Conduct Authority (FCA).
The Travel Rule requires businesses to collect the following information about each cryptocurrency transfer:
The name and address of the sender
The name and address of the recipient
The amount of the transfer
The date and time of the transfer
The type of cryptocurrency being transferred
Businesses must also verify the identity of the sender and recipient before sharing this information.
The Travel Rule is designed to prevent the use of cryptocurrencies for money laundering and terrorist financing. By collecting and sharing information about cryptocurrency transfers, businesses can help to identify suspicious activity and track down criminals.
The Travel Rule will have a number of implications for businesses and investors in the UK.
For businesses
The Travel Rule will impose additional compliance requirements on businesses that facilitate cryptocurrency transfers. Businesses will need to implement systems and procedures to collect, verify, and share the required information. They will also need to train their staff on the Travel Rule and its requirements.
The Travel Rule is likely to increase the cost of doing business for cryptocurrency businesses. Businesses will need to invest in new technology and systems to comply with the rule. They may also need to hire additional staff to manage the compliance process.
The Travel Rule could also make it more difficult for businesses to onboard new customers. Businesses will need to collect more personal information from customers, which could deter some customers from using their services.
For investors
The Travel Rule could make it more difficult for investors to transfer cryptocurrencies between different wallets and exchanges. Businesses will need to verify the identity of both the sender and recipient of each cryptocurrency transfer, which could slow down the transfer process.
The Travel Rule could also make it more difficult for investors to remain anonymous. Businesses will be required to collect and share the name and address of each investor who makes a cryptocurrency transfer.
Overall, the Travel Rule is likely to have a significant impact on the cryptocurrency industry in the UK. Businesses will need to comply with the rule in order to avoid regulatory sanctions. Investors may also face some inconveniences as a result of the rule.
However, the Travel Rule is also seen as a necessary step to prevent the misuse of cryptocurrencies for criminal purposes. By collecting and sharing information about cryptocurrency transfers, businesses and law enforcement can work together to keep criminals out of the crypto ecosystem.
Conclusion
The Travel Rule is a complex and challenging new regulation for the cryptocurrency industry. However, it is a necessary step to protect the integrity of the market and prevent the misuse of cryptocurrencies for criminal purposes. Businesses and investors in the UK should be prepared for the impact of the Travel Rule and take steps to comply with its requirements.
In addition to the above, here are some other implications of the Travel Rule for businesses and investors in the UK:
The Travel Rule could lead to increased regulation of the cryptocurrency industry. As governments around the world become more aware of the risks associated with cryptocurrencies, they may introduce new regulations to protect consumers and prevent financial crime.
The Travel Rule could also make it more difficult for businesses to operate in the cryptocurrency industry. Businesses that do not comply with the Travel Rule could face fines or other penalties.
The Travel Rule could also have a negative impact on the price of cryptocurrencies. As the regulatory burden on the industry increases, investors may become less willing to invest in cryptocurrencies.
Overall, the Travel Rule is a significant development for the cryptocurrency industry. It is important for businesses and investors to understand the implications of the rule and take steps to comply with its requirements.
London-based Jacobi Asset Management has listed Europe’s first spot bitcoin exchange-traded fund (ETF) on Euronext Amsterdam
Europe will see a spot bitcoin ETF traded before the U.S.. Europe’s First Spot Bitcoin ETF Lists in Amsterdam.
Implications for current cryptocurrencies of Financial Stability Board FSB recommendations for regulation of cryptos globally
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations on the global financial system. In July 2023, the FSB published a set of high-level recommendations for the regulation, supervision, and oversight of crypto-asset activities and markets. These recommendations are designed to address the financial stability risks posed by crypto-assets, while also supporting responsible innovation.
The FSB’s recommendations have a number of implications for current cryptocurrencies. First, they will require crypto-asset issuers and service providers to be subject to the same regulatory requirements as traditional financial institutions. This includes requirements for capital adequacy, liquidity, risk management, and customer protection. Second, the recommendations will require crypto-asset exchanges and other trading platforms to be licensed and regulated. This will help to ensure that these platforms are operating in a safe and transparent manner. Third, the recommendations will call for increased cooperation between regulators across jurisdictions. This will help to prevent crypto-asset activities from being used to evade regulation or finance illegal activities.
The FSB’s recommendations are likely to have a significant impact on the crypto-asset industry. Some cryptocurrencies may not be able to meet the new regulatory requirements and may be forced to shut down. Others may be able to adapt to the new regulations, but they may face higher costs of compliance. In the long run, the FSB’s recommendations could lead to a more regulated and mature crypto-asset industry.
Will cryptos survive and prosper under FSB recommended regulations?
It is too early to say for sure whether cryptos will survive and prosper under the FSB’s recommended regulations. However, there are a number of factors that suggest that they could.
First, the crypto-asset industry is growing rapidly. In 2022, the market capitalization of all cryptocurrencies reached over $3 trillion. This growth is being driven by a number of factors, including the increasing acceptance of cryptos by businesses and consumers, and the development of new crypto-based products and services.
Second, the crypto-asset industry is becoming more sophisticated. There are now a number of large and well-funded crypto companies that are developing innovative products and services. These companies are also investing heavily in compliance and risk management.
Third, the regulatory environment for cryptos is evolving. The FSB’s recommendations are a significant step forward, but they are not the only regulatory initiatives that are underway. Governments and regulators around the world are working to develop a comprehensive framework for regulating cryptos.
In conclusion, the FSB’s recommended regulations are likely to have a significant impact on the crypto-asset industry. However, there are a number of factors that suggest that cryptos could survive and prosper under these regulations. The industry is growing rapidly, becoming more sophisticated, and facing a more favorable regulatory environment. Only time will tell whether cryptos will ultimately become a mainstream asset class, but the FSB’s recommendations have made it more likely that they will.
Here are some additional thoughts on the implications of the FSB’s recommendations for the future of cryptos:
The recommendations could lead to a consolidation of the crypto-asset industry. Smaller and less well-funded crypto companies may struggle to meet the new regulatory requirements. This could lead to mergers and acquisitions, and a more concentrated industry.
The recommendations could make it more difficult for new cryptos to enter the market. The regulatory requirements will be a barrier to entry for many new projects. This could lead to a slowdown in the innovation that has been a hallmark of the crypto-asset industry.
The recommendations could make it more difficult for cryptos to be used for illegal activities. The increased regulation and oversight will make it more difficult for criminals to use cryptos to launder money or finance terrorism.
Overall, the FSB’s recommendations are a positive development for the crypto-asset industry. They will help to ensure that cryptos are used in a safe and responsible manner, and that they do not pose a risk to financial stability. However, the recommendations will also have some negative impacts on the industry, such as making it more difficult for new cryptos to enter the market. Only time will tell whether the positive impacts outweigh the negative impacts.
Nomura, Laser Digital and Dubai Marketplace For Crypto: Is The US Being Left Behind?
Keith Lewis 1 August 2023
Laser Digital, the digital assets subsidiary of Japanese bank Nomura has won an operating licence in Dubai, the latest in a number of mainstream financial institutions this year to enter the crypto sector.
Laser Digital received the licence from Dubai’s Virtual Asset Regulatory Authority, allowing it to offer crypto-related broker-dealer, management and investment services.
Ripple Wins Court Case Against SEC
In a landmark ruling on July 13, 2023, U.S. District Judge Analisa Torres granted summary judgment in favour of Ripple Labs, Inc. in the SEC’s lawsuit alleging that XRP, the company’s native cryptocurrency, is a security. The ruling is a major victory for Ripple and the cryptocurrency industry, and it could have far-reaching implications for the future of regulation in the space.
The SEC’s lawsuit against Ripple was filed in December 2020. The agency alleged that Ripple had violated federal securities laws by selling XRP to investors without registering it as a security. Ripple argued that XRP was not a security, but rather a currency or commodity.
In her ruling, Judge Torres found that the SEC had failed to prove that XRP was a security. She noted that the SEC’s definition of a security is “vague and open-ended,” and that the agency had not provided clear guidance on how to determine whether a cryptocurrency is a security.
Judge Torres also found that the SEC had failed to establish that Ripple had engaged in any fraudulent or deceptive conduct. She noted that Ripple had made it clear to investors that XRP was a high-risk investment, and that they should not invest more than they could afford to lose.
The ruling is a major victory for Ripple and the cryptocurrency industry. It could have far-reaching implications for the future of regulation in the space. The ruling could make it more difficult for the SEC to bring similar lawsuits against other cryptocurrency companies. It could also lead to the SEC issuing new guidance on how to determine whether a cryptocurrency is a security.
What will happen to XRP in 2023?
The ruling in the SEC vs. Ripple case is a major positive development for XRP. The price of XRP surged by more than 70% in the hours following the ruling. It is likely that the price of XRP will continue to rise in the coming months and years.
The ruling could also lead to increased adoption of XRP by businesses and financial institutions. XRP is already used by a number of companies, including MoneyGram and Western Union. The ruling could make it more attractive for other companies to use XRP, as it would no longer be subject to the same regulatory uncertainty.
Overall, the ruling in the SEC vs. Ripple case is a major positive development for XRP and the cryptocurrency industry. It could lead to increased adoption of XRP by businesses and financial institutions, and it could make it more difficult for the SEC to bring similar lawsuits against other cryptocurrency companies.
Key Takeaways
The SEC vs. Ripple case was a landmark ruling that could have far-reaching implications for the future of regulation in the cryptocurrency industry.
The ruling found that XRP is not a security, and that Ripple did not engage in any fraudulent or deceptive conduct.
The ruling is a major victory for Ripple and the cryptocurrency industry, and it could lead to increased adoption of XRP by businesses and financial institutions.
The ruling could also make it more difficult for the SEC to bring similar lawsuits against other cryptocurrency companies.
What are the next steps for Ripple?
Ripple has said that it plans to continue to develop XRP and its other products and services. The company also plans to continue to work with regulators around the world to ensure that XRP is used in a compliant manner.
The ruling in the SEC vs. Ripple case is a major step forward for Ripple. However, there are still challenges ahead. The company will need to continue to work with regulators and to build trust with the broader cryptocurrency community. If Ripple can successfully navigate these challenges, it is well-positioned to play a leading role in the future of the cryptocurrency industry.
Coinbase Sued by SEC for Selling Unregistered Securities
In June 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase, the largest cryptocurrency exchange in the United States. The SEC alleged that Coinbase had violated securities laws by offering and selling unregistered securities.
The SEC’s complaint specifically named 12 digital assets that it claimed Coinbase had offered and sold as unregistered securities. These assets included Bitcoin, Ethereum, Litecoin, and several other major cryptocurrencies.
The SEC argued that these assets were securities because they met the definition of an investment contract under the Howey Test. The Howey Test is a legal standard that defines an investment contract as an investment of money in a common enterprise with profits to come solely from the efforts of others.
The SEC alleged that Coinbase’s customers were investing money in a common enterprise by buying and selling cryptocurrencies on the platform. The SEC also alleged that Coinbase’s profits came solely from the efforts of others, namely the miners who process transactions and secure the blockchain networks on which cryptocurrencies are based.
Coinbase denied the SEC’s allegations and filed a motion to dismiss the lawsuit. The company argued that the digital assets it offered and sold were not securities because they were not investments in common enterprises. Coinbase also argued that the SEC had not given it fair notice that its activities were illegal.
The case is still pending in federal court. A trial date has not yet been set.
Is Coinbase in Trouble?
The SEC’s lawsuit against Coinbase is a significant development in the regulation of cryptocurrency exchanges. If the SEC is successful, it could set a precedent that would require other cryptocurrency exchanges to register with the SEC and comply with securities laws.
However, it is important to note that the case is still pending and Coinbase has denied the SEC’s allegations. It is possible that Coinbase will be able to win the case or reach a settlement with the SEC.
It is also worth noting that the SEC has not brought similar lawsuits against other major cryptocurrency exchanges. This suggests that the SEC may be targeting Coinbase specifically, perhaps because of its size or its high profile.
Only time will tell how the SEC’s lawsuit against Coinbase will be resolved. However, the case is a reminder that cryptocurrency exchanges are not immune from regulation and that they could face legal challenges in the future.
What are the Other Lawsuits Against Binance and Coinbase?
In addition to the SEC’s lawsuit against Coinbase, the company has also been sued by several private investors. These investors allege that they lost money by investing in cryptocurrencies on Coinbase’s platform.
The investors’ lawsuits allege that Coinbase failed to adequately disclose the risks associated with cryptocurrency investing. They also allege that Coinbase engaged in market manipulation and that it allowed fraudulent activity to take place on its platform.
Coinbase has denied the investors’ allegations and has filed motions to dismiss the lawsuits. The cases are still pending in federal court.
Binance, another major cryptocurrency exchange, has also been sued by the SEC and by private investors. The SEC’s lawsuit against Binance alleges that the company operated an unregistered securities exchange. The private investors’ lawsuits allege that Binance engaged in market manipulation and that it allowed fraudulent activity to take place on its platform.
Binance has denied the SEC’s allegations and has filed motions to dismiss the private investors’ lawsuits. The cases are still pending in federal court.
Is Coinbase Winning the Lawsuits?
It is too early to say whether Coinbase will win the lawsuits against it. The cases are still pending and it is possible that they could be resolved through settlement.
However, Coinbase has a strong legal team and it has denied all of the allegations against it. The company has also filed motions to dismiss the lawsuits, which suggests that it is confident in its chances of winning.
Only time will tell how the lawsuits against Coinbase will be resolved. However, the company has a good chance of prevailing in court.
Update 29 June 2023
Coinbase has filed papers asking a New York federal court to dismiss the SECs lawsuit that accuses the company of offering a dozen unregistered securities. Coinbase claimed the case should be thrown out in part because the digital assets it lists for trading are not “investment contracts”. Coinbase says the tokens it sells can’t be investment contracts because buyers and sellers are simply assets that are not tied to any contractual obligation.
Coinbase also claims that tokens that were once securities can cease to have that status as the blockchains that host them become increasingly decentralised.
Coinbase’s argument that its listed tokens are simply assets and not investment tokens has not been seriously tested in U.S. courts. The court case is unlikely to conclude until 2024.
Coinbase is also relying heavily on a so-called “fair notice defense” that is based around the constitutional principle the governments cannot initiate prosecutions if they have failed to let people know about the relevant law at issue.
Bitcoin: Going to Zero or a Million?
The future of Bitcoin is a hotly debated topic. Some believe that the cryptocurrency is a bubble that is destined to burst, while others believe that it is the future of money.
There are a number of factors that could lead to Bitcoin going to zero. One is if there is a widespread loss of confidence in the cryptocurrency. This could happen if there were a major security breach or if governments cracked down on Bitcoin.
Another possibility is that Bitcoin could be replaced by a newer, more efficient cryptocurrency. There are already a number of competing cryptocurrencies, and it is possible that one of these could eventually supplant Bitcoin.
However, there are also a number of factors that could lead to Bitcoin reaching a million dollars or more. One is if Bitcoin becomes more widely adopted as a form of payment. This is already starting to happen, as more and more businesses are beginning to accept Bitcoin.
Another possibility is that Bitcoin could become a store of value. This is because Bitcoin is limited in supply, and it is not subject to government interference. As a result, Bitcoin could become an attractive investment for people who are looking for a safe way to store their wealth.
So, which way will Bitcoin go? It is impossible to say for sure. However, the evidence suggests that Bitcoin is here to stay. The cryptocurrency has a number of unique properties that make it valuable, and it is likely to continue to grow in popularity in the years to come.
Arguments for Bitcoin Reaching a Million Dollars
There are a number of arguments that suggest that Bitcoin could reach a million dollars or more in the future. These arguments include:
Limited supply: Bitcoin is a finite resource. There will only ever be 21 million bitcoins created, which means that the supply of Bitcoin cannot be inflated. This makes Bitcoin a valuable store of value, as it is not subject to the same inflationary pressures as fiat currencies.
Growing demand: The demand for Bitcoin is growing rapidly. More and more people are buying Bitcoin as an investment, and as a way to pay for goods and services. This growing demand is likely to push the price of Bitcoin higher in the future.
Adoption by institutions: A number of large institutions are starting to adopt Bitcoin. This includes investment firms, hedge funds, and even banks. This institutional adoption is likely to give Bitcoin more legitimacy and credibility, which could lead to even higher prices.
Technological innovation: The Bitcoin network is constantly being improved. This includes the development of new features, such as the Lightning Network, which makes it faster and cheaper to send Bitcoin payments. These technological innovations are likely to make Bitcoin more user-friendly and accessible, which could lead to even more demand.
Arguments Against Bitcoin Reaching a Million Dollars
There are also a number of arguments that suggest that Bitcoin is unlikely to reach a million dollars. These arguments include:
Volatility: Bitcoin is a very volatile asset. The price of Bitcoin has fluctuated wildly over the past few years. This volatility makes it difficult to predict the future price of Bitcoin, and it could make it a risky investment for some people.
Regulatory risk: There is a risk that governments could crack down on Bitcoin. This could happen if governments become concerned about the potential for Bitcoin to be used for illegal activities. A regulatory crackdown could have a negative impact on the price of Bitcoin.
Competition: There are a number of other cryptocurrencies that are competing with Bitcoin. These cryptocurrencies offer different features and benefits, and they could eventually supplant Bitcoin.
The future of Bitcoin is uncertain. However, the evidence suggests that Bitcoin is here to stay. The cryptocurrency has a number of unique properties that make it valuable, and it is likely to continue to grow in popularity in the years to come. Whether Bitcoin will reach a million dollars or more is anyone’s guess. However, the potential for significant gains is there, and this could make Bitcoin an attractive investment for some people.
What Do You Think?
What do you think the future holds for Bitcoin? Do you think it will reach a million dollars or more? Or do you think it is more likely to go to zero? Share your thoughts in the comments below.
More articles:
Will Bitcoin ever be worth $1 million?
How low will Bitcoin go in 2023?
What will Bitcoin be worth in 2025?
Is it possible for Bitcoin to go to zero?
Do they have to kill crypto to successfully adopt CBDCs?
Central bank digital currencies (CBDCs) are digital versions of fiat currencies that are issued and regulated by central banks. They are designed to offer the same benefits as traditional cash, such as anonymity and ease of use, while also providing some of the advantages of digital payments, such as speed and efficiency.
Cryptocurrencies, on the other hand, are decentralised digital currencies that are not issued or regulated by any central authority. They are based on blockchain technology, which is a secure and transparent distributed ledger system.
There is a growing debate about whether central banks need to kill crypto in order to successfully adopt CBDCs. Some argue that cryptocurrencies pose a threat to the financial system and that central banks need to take steps to ensure that they do not gain widespread adoption. Others argue that cryptocurrencies can actually complement CBDCs and that the two can coexist in the future.
Arguments for killing crypto
There are a number of arguments in favor of central banks killing crypto. One argument is that cryptocurrencies are a threat to financial stability. Cryptocurrencies are often volatile and can be used for illegal activities, such as money laundering and terrorist financing. This could lead to a loss of confidence in the financial system and could make it more difficult for central banks to manage monetary policy.
Another argument is that cryptocurrencies are a threat to consumer protection. Cryptocurrencies are often complex and difficult to understand. This could lead to consumers being scammed or losing money. Central banks have a responsibility to protect consumers and could do this by banning cryptocurrencies.
Arguments for coexisting with crypto
There are also a number of arguments in favour of central banks coexisting with crypto. One argument is that cryptocurrencies can actually complement CBDCs. For example, cryptocurrencies can be used for international payments, while CBDCs can be used for domestic payments. This could make it easier and cheaper for people to make payments across borders.
Another argument is that cryptocurrencies can promote innovation. The development of cryptocurrencies has led to the development of new technologies, such as blockchain. These technologies could be used to improve the efficiency and security of the financial system.
The debate about whether central banks need to kill crypto is likely to continue for some time. There are valid arguments on both sides of the issue. Ultimately, the decision of whether or not to kill crypto will be up to individual central banks. There are direct and indirect ways central banks and governments can try to kill crypto. However, the global marketplace suggests that central banks would need to do it globally and it is not clear how they would coordinate such action when it is difficult to get global agreement on anything. Furthermore, there is an argument that cryptos like Bitcoin provide a way to hold and retain value that is outside the reach and control of central banks and national governments.
However, it is important to note that the adoption of CBDCs is not a zero-sum game. It is possible for both CBDCs and cryptocurrencies to coexist. In fact, it is possible that the two could complement each other and help to improve the efficiency and security of the financial system. Attempts to kill crypto by central banks and national governments may raise questions as to the motivations of centres of power.
What are the tangible benefits to businesses of utilising cryptocurrencies?
Cryptocurrencies are digital or virtual tokens that use cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature. It is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
Cryptocurrencies use decentralised control as opposed to centralised digital currency and central banking systems. The decentralised control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger. Bitcoin, first released as open-source software in 2009, is generally considered the first decentralised cryptocurrency. Since the release of bitcoin, over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.
There are many potential benefits for businesses that adopt cryptocurrencies. Some of these benefits include:
Reduced transaction fees: Cryptocurrency transactions typically have much lower fees than traditional bank transfers or credit card payments. This can save businesses money on processing costs.
Faster transactions: Cryptocurrency transactions can be processed much faster than traditional bank transfers or credit card payments. This can improve customer satisfaction and make it easier for businesses to compete with online retailers.
Global reach: Cryptocurrency transactions can be made anywhere in the world, without the need for a third-party intermediary. This can help businesses expand into new markets and reach new customers.
Increased security: Cryptocurrency transactions are more secure than traditional bank transfers or credit card payments. This is because cryptocurrency transactions are encrypted and recorded on a public ledger.
Reduced risk of fraud: Cryptocurrency transactions are less susceptible to fraud than traditional bank transfers or credit card payments. This is because cryptocurrency transactions are irreversible and cannot be disputed.
What is tangible about cryptocurrency?
The tangible benefits of cryptocurrency to businesses are the reduced transaction fees, faster transactions, global reach, increased security, and reduced risk of fraud. These benefits can help businesses save money, improve customer satisfaction, expand into new markets, and reduce the risk of fraud.
Is cryptocurrency tangible or intangible?
Cryptocurrency is a digital asset, which means that it is not a physical object. However, it does have tangible value. This value is derived from the fact that cryptocurrency can be used to purchase goods and services. It can also be used to store value and to invest.
Does cryptocurrency have any tangible value?
Yes, cryptocurrency has tangible value. This value is derived from the fact that cryptocurrency can be used to purchase goods and services. It can also be used to store value and to invest.
The value of cryptocurrency is determined by supply and demand. The supply of cryptocurrency is limited, as there is a finite number of bitcoins that will ever be created. The demand for cryptocurrency is growing, as more and more businesses and individuals are beginning to accept it as a form of payment.
As the demand for cryptocurrency continues to grow, its value is likely to increase. This makes cryptocurrency a good investment for those who are looking to protect their wealth from inflation and other economic risks.
The adoption of cryptocurrency by businesses can offer a number of tangible benefits, including reduced transaction fees, faster transactions, global reach, increased security, and reduced risk of fraud. These benefits can help businesses save money, improve customer satisfaction, expand into new markets, and reduce the risk of fraud.
As the use of cryptocurrency continues to grow, businesses that adopt it early may be able to gain a competitive advantage.
Will SEC attacks on likes of CoinBase and Binance impede or protect USA economy
Some people with high powers and responsibilities in USA are increasing their attack on crypto-sphere. What will it mean for the America and global economy?
As the rest of the world is opening its mind to the place of cryptocurrency in modern world America is doubling down on its suppression of cryptocurrency.
Opinion: Keith Lewis 8 June 2023 It is still too early to say whether the SEC’s attacks on cryptocurrency exchanges like Coinbase and Binance will impede or protect the US economy. However, there are a few potential outcomes that could occur.
One possibility is that the SEC’s actions will stifle innovation in the cryptocurrency industry. The SEC has been criticised for its heavy-handed approach to regulating cryptocurrency, and some fear that this could lead to businesses leaving the US or choosing not to launch their products here in the first place. This could have a negative impact on the US economy, as it could prevent the development of new technologies and businesses that could create jobs and boost economic growth.
Another possibility is that the SEC’s actions will protect investors from fraud and abuse. The cryptocurrency industry has been plagued by scams and other forms of fraud, and the SEC’s actions could help to protect investors from these risks. This could lead to increased investment in the cryptocurrency industry, which could have a positive impact on the US economy.
It is also possible that the SEC’s actions will have a mixed impact on the US economy. It is possible that the SEC’s actions will stifle innovation while also protecting investors. This could lead to a slower pace of economic growth, but it could also lead to a more stable and secure cryptocurrency industry.
Only time will tell what the ultimate impact of the SEC’s actions will be. However, it is clear that the SEC’s actions have the potential to have a significant impact on the US economy.
Here are some additional thoughts on the matter:
The SEC’s actions could also lead to increased regulation of the cryptocurrency industry, which could make it more difficult for businesses to operate in this space. This could make it harder for the cryptocurrency industry to compete with traditional financial institutions, which could have a negative impact on the US economy.
The SEC’s actions could also lead to increased public scrutiny of the cryptocurrency industry, which could make it more difficult for businesses to raise capital and attract customers. This could make it harder for the cryptocurrency industry to grow, which could have a negative impact on the US economy.
Overall, the SEC’s actions on cryptocurrency exchanges are a complex issue with the potential to have both positive and negative impacts on the US economy. It is important to monitor the situation closely and to assess the impact of the SEC’s actions as they unfold.
New Hong Kong Cryptocurrency Rules Take Effect on 1 June 2023
The Securities and Futures Commission (SFC) of Hong Kong has finalised rules to allow retail trading of cryptocurrencies from June 1, 2023. The new rules are designed to protect investors and promote the development of the virtual assets industry in Hong Kong.
Under the new rules, only licensed cryptocurrency exchanges will be allowed to offer retail trading services. Licensed exchanges will be subject to a number of requirements, including:
They must have adequate financial resources and risk management systems.
They must conduct due diligence on their customers.
They must provide clear and concise information about the risks of investing in cryptocurrencies.
The SFC has also issued a number of guidance notes to help licensed exchanges comply with the new rules.
The new rules are expected to have a number of benefits for the virtual assets industry in Hong Kong. First, they will provide investors with greater confidence in the safety and security of their investments. Second, they will help to attract new investors to the industry. Third, they will help to promote the development of the industry in Hong Kong.
The new rules have been welcomed by the industry. The Hong Kong Blockchain Association said that the rules “will help to create a more stable and transparent environment for the development of the virtual assets industry in Hong Kong.”
The new rules are a significant step forward for the development of the virtual assets industry in Hong Kong. They will help to protect investors, promote the development of the industry, and attract new investors to Hong Kong.
What are the new rules?
The new rules are set out in the Securities and Futures Ordinance (SFO) and the Securities and Futures Commission (SFC) Handbook. The SFO provides the legal framework for the regulation of securities and futures in Hong Kong. The SFC Handbook provides guidance on how the SFO is to be interpreted and applied.
The key provisions of the new rules are as follows:
Only licensed cryptocurrency exchanges will be allowed to offer retail trading services.
Licensed exchanges will be subject to a number of requirements, including:
They must provide clear and concise information about the risks of investing in cryptocurrencies.
The SFC has also issued a number of guidance notes to help licensed exchanges comply with the new rules.
What are the benefits of the new rules?
The new rules are expected to have a number of benefits for the virtual assets industry in Hong Kong. First, they will provide investors with greater confidence in the safety and security of their investments. Second, they will help to attract new investors to the industry. Third, they will help to promote the development of the industry in Hong Kong.
What are the challenges of the new rules?
The new rules will present a number of challenges for the virtual assets industry in Hong Kong. First, it will be a challenge for licensed exchanges to meet the requirements of the new rules. Second, it will be a challenge for the SFC to effectively regulate the industry.
What is the future of the virtual assets industry in Hong Kong?
The new rules are a significant step forward for the development of the virtual assets industry in Hong Kong. They will help to protect investors, promote the development of the industry, and attract new investors to Hong Kong. The industry is expected to continue to grow in the coming years.
What are the risks of investing in cryptocurrencies?
Cryptocurrencies are a new and volatile asset class. As such, there are a number of risks associated with investing in them. These risks include:
The risk of loss: The value of cryptocurrencies can fluctuate wildly. As such, there is a risk that you could lose money if you invest in them.
The risk of fraud: There have been a number of cases of fraud involving cryptocurrencies. As such, there is a risk that you could lose money if you invest in a fraudulent scheme.
The risk of regulation: The regulatory landscape for cryptocurrencies is still evolving. As such, there is a risk that your investment could be affected by changes in regulation.
How can I protect myself from the risks of investing in cryptocurrencies?
There are a number of things you can do to protect yourself from the risks of investing in cryptocurrencies. These include:
Do your research: Before you invest in any cryptocurrency, make sure you do your research and understand the risks involved.
Invest only what you can afford to lose: Remember that the value of cryptocurrencies can fluctuate wildly. As such, you should only invest money that you can afford to lose.
Use a reputable exchange: When you buy or sell cryptocurrencies, use a reputable.
Could these new rules open drive Bitcoin value up particularly as Hong Kong May give easier access to millions of Chinese investors?
It is possible that the new rules could drive Bitcoin value up, particularly as Hong Kong may give easier access to millions of Chinese investors.
The new rules will provide investors with greater confidence in the safety and security of their investments, which could lead to increased demand for Bitcoin. Additionally, the new rules will make it easier for Chinese investors to access Bitcoin, which could also lead to increased demand.
However, it is important to note that there are a number of factors that could affect the price of Bitcoin, including the overall economic climate, the performance of other cryptocurrencies, and regulatory changes. As such, it is impossible to say for sure whether the new rules will drive Bitcoin value up.
Here are some of the reasons why the new rules could drive Bitcoin value up:
Increased investor confidence:The new rules will provide investors with greater confidence in the safety and security of their investments. This could lead to increased demand for Bitcoin, as investors will be more willing to put their money into it.
Easier access for Chinese investors: The new rules will make it easier for Chinese investors to access Bitcoin. This could lead to increased demand for Bitcoin, as China is a major market for cryptocurrencies.
Positive media attention: The new rules have been met with positive media attention. This could lead to increased awareness of Bitcoin, which could also lead to increased demand.
However, there are also some reasons why the new rules could not drive Bitcoin value up:
Overall economic climate: The overall economic climate could have a negative impact on the price of Bitcoin. If the economy is doing poorly, investors may be less willing to invest in risky assets like Bitcoin.
Performance of other cryptocurrencies: The performance of other cryptocurrencies could also have a negative impact on the price of Bitcoin. If other cryptocurrencies are performing better than Bitcoin, investors may be more likely to invest in them instead.
Regulatory changes: Regulatory changes could also have a negative impact on the price of Bitcoin. If governments start to regulate cryptocurrencies more heavily, investors may be less willing to invest in them.
Overall, it is too early to say whether the new rules will drive Bitcoin value up. There are a number of factors that could affect the price of Bitcoin, and it is impossible to say for sure how these factors will play out.
Maximising Profits and Minimising Risks: Navigating the Cryptocurrency Landscape for UK Businesses
Cryptocurrency Risks and Opportunities
Cryptocurrencies, such as Bitcoin and Ethereum, have been gaining popularity in recent years, and businesses in the UK are starting to take notice. While these digital currencies offer a number of benefits, they also come with a number of risks and challenges. In this article, we will explore the threats and opportunities that cryptocurrencies present for businesses in the UK.
Threats
One of the biggest threats that businesses in the UK face when it comes to cryptocurrencies is their volatility. Cryptocurrencies are known for their fluctuations in value, which can be significant and happen quickly. This volatility makes it difficult for businesses to predict and plan for the future, as they may not know how much a particular cryptocurrency will be worth at any given time.
Another threat is the risk of hacking. Cryptocurrency exchanges and wallets are vulnerable to cyber attacks, and if a business stores large amounts of cryptocurrency, it could be at risk of losing it all in the event of a successful hack.
Regulatory risks are also present for businesses that deal with cryptocurrencies. The UK government has not yet created a comprehensive framework for the regulation of cryptocurrencies, which means that businesses may not be sure of their legal obligations or of how to comply with them. This could result in fines or other penalties if a business is found to be in violation of any laws or regulations.
Opportunities
Despite these threats, there are also a number of opportunities that cryptocurrencies present for businesses in the UK. One of the biggest opportunities is the ability to reach a global market. Cryptocurrencies are decentralised, meaning that they are not controlled by any government or institution. This makes them accessible to anyone with an internet connection, regardless of where they are located.
Another opportunity is the ability to reduce transaction costs. Traditional payment methods, such as credit cards, can be costly for businesses, as they often have to pay fees to the banks and other financial institutions that process the transactions. Cryptocurrencies, on the other hand, can be sent and received directly between parties, without the need for intermediaries, which can reduce costs significantly.
Innovation is another opportunity for businesses in the UK. Cryptocurrencies and blockchain technology have the potential to change the way that businesses operate and interact with their customers. For example, blockchain technology can be used to create secure and transparent supply chain management systems, which can improve efficiency and reduce costs.
Cryptocurrencies present a number of threats and opportunities for businesses in the UK. While the volatility and risk of hacking are significant concerns, the ability to reach a global market and reduce transaction costs are among the key opportunities that these digital currencies offer. Businesses that are considering incorporating cryptocurrencies into their operations should weigh the risks and benefits carefully, and should be prepared to adapt as the regulatory environment evolves.
Is money laundering the only reason nation states want to regulate and perhaps eliminate use of any unregulated crypto currency?
Are more USA crypto regulatory measures on their way? Could they be part of coordinated global clampdown on crypto?
There are bad actors using crypto to launder money. However, the biggest banks in the world have been regularly been fined for repeated widespread mismanagement that resulted in money being laundered by the traditional finance establishment. Is money laundering risk being used by the traditional finance establishment and national governments as an excuse to regulate crypto? Maybe even eliminate current crypto in favour of national CBDC or one international CBDC?
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Are UK Banks Like Natwest Clamping Down on Cryptocurrency in September 2023?
In recent months, there has been growing concern that UK banks are clamping down on cryptocurrency. In particular, Natwest has come under fire for its new terms and conditions, which state that the bank will no longer allow customers to make payments to cryptocurrency exchanges.
This has led to speculation that Natwest is trying to prevent its customers from investing in cryptocurrency. However, the bank has denied this, saying that the new terms and conditions are simply a way of protecting customers from fraud and other risks.
So, what is the truth about UK banks and cryptocurrency? Are they really clamping down on it? And if so, why?
The Controversy Surrounding Cashless Society
One of the main reasons why banks are concerned about cryptocurrency is because it could pose a threat to the cashless society. In recent years, there has been a growing trend towards a cashless society, with more and more people using cards and online payments instead of cash.
Banks are keen to promote this trend, as it makes it easier for them to track customer spending and to collect fees. However, cryptocurrency could undermine the cashless society by providing an alternative way to make payments.
This is why some banks have been accused of trying to stifle the growth of cryptocurrency. For example, in 2017, Barclays banned its customers from buying cryptocurrency. And in 2018, HSBC said that it would not allow its customers to use its credit cards to buy cryptocurrency.
The Real Threat to Cryptocurrency
However, the real threat to cryptocurrency is not from banks. It is from governments.
Governments around the world are increasingly concerned about the potential risks posed by cryptocurrency. These risks include the use of cryptocurrency for money laundering and terrorist financing. Governments also risk losing control of the money – control the money control the people.
As a result, governments are starting to regulate cryptocurrency. In the UK, the Financial Conduct Authority (FCA) has issued guidance on cryptocurrency.
NatWest’s New Terms and Conditions
Natwest is introducing new terms and conditions that will have the effect of potentially restricting customer payments to cryptocurrency exchanges and payments into back accounts from cryptocurrency. These terms and conditions are designed to protect customers from fraud and other risks, but are also potentially worrying controls over people and businesses human rights.
They send a clear message to customers that Natwest does not approve of cryptocurrency. And this message is likely to be echoed by other banks.
The Future of Cryptocurrency
So, what does the future hold for cryptocurrency? It is difficult to say. However, it is clear that banks and governments are not keen on the idea.
This could make it difficult for cryptocurrency to achieve widespread global adoption. How difficult will depend on global governance.
Only time will tell what the future holds for cryptocurrency. However, one thing is for sure: the controversy surrounding it is not going away anytime soon
Cryptocurrency For Business Forum
Discuss the threats and opportunities for businesses in the UK if and when your business is ready to explore the protection and growth from cryptocurrencies.
Join our online forum to meetup online to inform your business decision-making.
Elizabeth Warren Gary Gensler SEC and Regulation Of Crypto In USA
Get Paid In Crypto On BusinessRiskTV Marketplace
As the world becomes more digitised, cryptocurrencies have become a popular form of payment for individuals and businesses alike. With the rise of cryptocurrencies like Bitcoin, Ethereum, and Litecoin, many businesses are now considering accepting these currencies as a form of payment. Additionally, some businesses are even paying their employees and contractors in cryptocurrencies. In this article, we will discuss how businesses can get paid in crypto through the BusinessRiskTV.com marketplace.
What is Cryptocurrency?
Cryptocurrency is a digital or virtual currency that uses cryptography for security. Cryptography is a technique for secure communication that is used to keep transactions secure and private. Cryptocurrencies use a decentralized system that allows for peer-to-peer transactions without the need for intermediaries like banks or governments.
One of the most popular cryptocurrencies is Bitcoin. Bitcoin was created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. Bitcoin is decentralised, meaning it is not controlled by any government or financial institution. Instead, it is maintained by a network of users who validate and record transactions on a public ledger called the blockchain.
Other popular cryptocurrencies include Ethereum, Litecoin, and Ripple. These cryptocurrencies are also decentralised and operate on similar blockchain technology.
Why Get Paid in Cryptocurrency?
There are several reasons why businesses might want to get paid in cryptocurrency. First, cryptocurrencies offer fast and secure transactions without the need for intermediaries. This means that businesses can receive payments instantly, without having to wait for banks or other financial institutions to process the transaction.
Second, cryptocurrencies offer lower transaction fees compared to traditional payment methods. This can save businesses money in the long run, especially if they receive a large volume of payments.
Finally, cryptocurrencies offer a level of anonymity and privacy that is not possible with traditional payment methods. This can be particularly useful for businesses that operate in industries where privacy is important, such as adult entertainment or gambling.
How to Get Paid in Cryptocurrency through BusinessRiskTV.com Marketplace
BusinessRiskTV.com Marketplace is an online platform that connects businesses with buyers and sellers around the world. The platform allows businesses to buy and sell goods and services in a secure and efficient manner. Additionally, the platform also supports cryptocurrency payments, making it easy for businesses to get paid in cryptocurrency.
To get started, businesses will need to sign up for a BusinessRiskTV.com Marketplace account. Once the account is created, businesses can list their products or services for sale on the platform. When a buyer makes a purchase, the seller will receive payment in the currency of their choice, including cryptocurrency.
To receive payments in cryptocurrency, businesses will need to provide their cryptocurrency wallet address to the buyer. The buyer will then send the payment to the provided wallet address. Once the payment is received, the seller can withdraw the funds to their bank account or continue to hold the cryptocurrency.
Benefits of Using BusinessRiskTV.com Marketplace
There are several benefits of using BusinessRiskTV.com Marketplace to get paid in cryptocurrency. First, the platform offers a secure and efficient way for businesses to sell their products or services. The platform uses advanced security measures to protect user data and prevent fraud.
Second, BusinessRiskTV.com Marketplace supports multiple payment options, including cryptocurrency. This makes it easy for businesses to receive payments in the currency of their choice.
Finally, BusinessRiskTV.com Marketplace offers a global audience, allowing businesses to reach buyers and sellers from around the world. This can help businesses expand their customer base and increase their revenue.
Potential Risks of Using Cryptocurrency
While there are many benefits to using cryptocurrency, there are also potential risks that businesses should be aware of. One of the main risks is the volatility of cryptocurrency prices. Cryptocurrency prices can fluctuate rapidly, which can result in large gains or losses for businesses.
Additionally, cryptocurrencies are not regulated by governments or financial institutions, which can make them vulnerable to fraud and hacking
Finally, businesses should be aware of the potential legal and tax implications of using cryptocurrency. Regulations regarding cryptocurrency vary from country to country, and businesses should consult with a legal or tax professional before accepting cryptocurrency payments.
Cryptocurrency is becoming an increasingly popular form of payment for businesses around the world. By accepting cryptocurrency payments, businesses can benefit from fast and secure transactions, lower transaction fees, and increased privacy. BusinessRiskTV.com Marketplace is an online platform that supports cryptocurrency payments, making it easy for businesses to get paid in cryptocurrency. However, businesses should also be aware of the potential risks and legal and tax implications of using cryptocurrency. By understanding these risks and taking appropriate measures, businesses can benefit from the advantages of cryptocurrency while minimising potential drawbacks.
Are Cryptos Securities?
The question of whether or not cryptocurrencies are securities has been debated for years. The Securities and Exchange Commission (SEC) has taken the position that most cryptocurrencies are securities, while the Commodity Futures Trading Commission (CFTC) has argued that they are commodities.
The SEC’s position is based on the Howey Test, a legal test that is used to determine whether an investment is a security. The Howey Test asks three questions:
Is there an investment of money?
Is there an expectation of profits from the investment?
Are those profits to come from the efforts of a promoter or third party?
The SEC argues that cryptocurrencies meet all three criteria of the Howey Test. First, investors put money into cryptocurrencies. Second, investors expect to make a profit from their investment. Third, those profits are to come from the efforts of the developers of the cryptocurrency, who are working to create a new and innovative technology.
The CFTC, on the other hand, argues that cryptocurrencies are commodities. Commodities are defined as “any good, article, service, right, or interest in which there is an actual or potential commerce.” The CFTC argues that cryptocurrencies meet this definition because they are bought and sold on exchanges, and their prices are determined by supply and demand.
The debate over whether or not cryptocurrencies are securities is likely to continue for some time. The SEC and the CFTC are both powerful regulatory agencies, and they have different views on how to regulate cryptocurrencies. It is possible that the courts will eventually have to decide the issue.
In the meantime, investors should be aware of the risks associated with investing in cryptocurrencies. Cryptocurrencies are a new and volatile asset class, and they are not regulated by the government in the same way that stocks and bonds are. As a result, investors could lose all of their money if they invest in cryptocurrencies.
Are Cryptocurrencies a Security, Commodity, or Currency?
The classification of cryptocurrencies is a complex and evolving issue. Some argue that cryptocurrencies are securities, while others believe that they are commodities or currencies. The classification of cryptocurrencies has important implications for regulation and taxation.
Securities
A security is an investment contract that provides the investor with an expectation of profits. Securities are regulated by the Securities and Exchange Commission (SEC). The SEC has stated that it believes that many cryptocurrencies are securities.
Commodities
A commodity is a good or service that is bought and sold on an exchange. Commodities are regulated by the Commodity Futures Trading Commission (CFTC). The CFTC has not yet taken a position on whether or not cryptocurrencies are commodities.
Currencies
A currency is a medium of exchange that is used to purchase goods and services. Currencies are not regulated by the SEC or the CFTC.
The classification of cryptocurrencies is still up for debate. However, it is important to understand the potential implications of different classifications. For example, if cryptocurrencies are classified as securities, then they would be subject to the same regulations as stocks and bonds. This could make it more difficult for businesses to raise money through cryptocurrency ICOs.
The Future of Crypto Regulation
The regulation of cryptocurrencies is a rapidly evolving area of law. The SEC, the CFTC, and other regulators are still working to develop a comprehensive framework for regulating cryptocurrencies.
It is likely that the regulation of cryptocurrencies will continue to evolve in the coming years. As cryptocurrencies become more popular, regulators will need to develop new rules and regulations to protect investors and ensure market integrity.
How to Invest in Cryptocurrencies Safely
If you are considering investing in cryptocurrencies, it is important to do your research and understand the risks involved. Here are a few tips for investing in cryptocurrencies safely:
Only invest money that you can afford to lose.
Do your research and understand the risks involved in investing in cryptocurrencies.
Only invest in cryptocurrencies through reputable exchanges.
Use strong passwords and two-factor authentication to protect your accounts.
Be aware of scams and fraudulent activity.
By following these tips, you can help to protect yourself when investing in cryptocurrencies.
Understand the threats and sees business opportunities in Brazil Russia India China and South Africa
How can business leaders inform their BRICS business decision-making better
BusinessRiskTV.com BRICS Business Risk Reviews Brazil Russia India China South Africa #BusinessRiskTV #ProRiskManager #BRICS #Brazil #Russia #India #China #SouthAfrica #Argentina #Iran #SaudiArabia #Ethiopia #Egypt #UnitedArabEmiratesUAE
BRICS Expands to 11 with Admission of 6 New Members
The BRICS bloc of developing nations has expanded to 11 with the admission of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The decision was made at the 15th BRICS summit, held in Johannesburg, South Africa, on August 24, 2023.
The expansion of BRICS is seen as a major step in the bloc’s efforts to reshuffle the global order. The bloc’s members represent over 40% of the world’s population and 25% of the global economy. With the addition of the six new members, BRICS will become even more diverse and influential.
The new members of BRICS bring a variety of strengths to the bloc. Argentina is a major agricultural exporter and has a strong manufacturing sector. Egypt is a regional power in North Africa and the Middle East. Ethiopia is a rapidly growing economy with a young and dynamic population. Iran is a major oil producer and has a strategic location in the Middle East. Saudi Arabia is the world’s largest oil exporter and has a powerful military. The United Arab Emirates is a financial and trade hub in the Middle East.
The expansion of BRICS is likely to have a significant impact on the global economy and geopolitics. The bloc is now better positioned to challenge the dominance of the United States and other Western powers. It is also likely to play a more active role in global affairs, such as climate change and trade.
The decision to expand BRICS was not without controversy. Some critics have argued that the bloc is becoming too large and unwieldy. Others have expressed concerns about the human rights records of some of the new members. However, the leaders of BRICS have dismissed these concerns, arguing that the bloc is committed to promoting democracy, development, and peace.
The expansion of BRICS is a major development that is likely to have a significant impact on the global order. The bloc is now well-positioned to play a more prominent role in global affairs. It will be interesting to see how BRICS evolves in the years to come.
The Significance of the New BRICS Members
The admission of six new members to BRICS is a significant development that has the potential to reshape the global order. The new members, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, bring a variety of strengths to the bloc, including their large populations, growing economies, and strategic locations.
The addition of these countries will make BRICS more diverse and representative of the global community. It will also give the bloc a stronger voice in international affairs. BRICS is now well-positioned to challenge the dominance of the United States and other Western powers.
The new members of BRICS also have a number of shared interests. They are all developing countries that are seeking to grow their economies and improve the lives of their citizens. They are also all concerned about the rise of protectionism and unilateralism in the global economy.
The expansion of BRICS is likely to have a number of positive implications for the global economy. It will create new opportunities for trade and investment, and it will help to promote economic development in the developing world. It will also make the global economy more resilient to shocks and crises.
The expansion of BRICS is also likely to have a positive impact on global geopolitics. The bloc is now better positioned to play a more active role in resolving conflicts and promoting peace. It is also likely to be more effective in addressing global challenges such as climate change and terrorism.
Overall, the expansion of BRICS is a positive development that has the potential to make the world a more prosperous and peaceful place. It is a sign that the developing world is rising to challenge the dominance of the West.
The Challenges Facing BRICS
While the expansion of BRICS is a positive development, it also faces a number of challenges. One challenge is that the bloc is now so large and diverse that it may be difficult to reach consensus on important issues. Another challenge is that some of the new members have poor human rights records. This could damage the reputation of BRICS and make it more difficult for the bloc to achieve its goals.
Despite these challenges, BRICS has the potential to be a force for good in the world. The bloc can help to promote economic development, peace, and stability in the developing world. It can also help to challenge the dominance of the West and create a more just and equitable global order.
The future of BRICS is uncertain, but it has the potential to be a major player in the global arena. The bloc will need to overcome its challenges and learn to work together effectively if it is to achieve its full potential.
BRICS Summit August 2023
The 15th BRICS summit will be held in Johannesburg, South Africa on 22-24 August 2023. The theme of the summit is “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism”.
The summit will be attended by the leaders of Brazil, Russia, India, China and South Africa, as well as representatives from other BRICS countries and partner nations. The agenda for the summit is expected to include discussions on a range of issues, including:
The global economic outlook and the impact of the COVID-19 pandemic
Trade and investment
Climate change and sustainable development
Regional cooperation
International security
Business leaders around the world can expect the BRICS summit to have a significant impact on the global economy. The BRICS countries are some of the fastest-growing economies in the world, and they are increasingly playing a leading role in global trade and investment. The summit is likely to provide a platform for the BRICS countries to discuss their shared economic interests and to coordinate their efforts to promote economic growth and development.
In addition to the economic agenda, the BRICS summit is also likely to address a number of other issues that are of interest to business leaders. These include:
The development of new technologies and their impact on the global economy
The need for greater cooperation between businesses and governments to address global challenges
The importance of sustainable development and the need to protect the environment
The BRICS summit is a major event that will have a significant impact on the global economy. Business leaders around the world should pay close attention to the outcomes of the summit and to the implications for their businesses.
In addition to the economic agenda, the BRICS summit is also likely to discuss the issue of membership expansion. More than 40 countries have expressed interest in joining BRICS, and the summit could provide an opportunity for the BRICS countries to discuss the criteria for membership and to make a decision on whether to expand the group.
The inclusion of new members would strengthen BRICS and make it a more powerful force in the global economy. However, it is important to note that there are also some challenges associated with membership expansion. For example, it would be important to ensure that new members are committed to the BRICS principles and that they are able to contribute to the group’s work.
Overall, the 15th BRICS summit is a major event that will have a significant impact on the global economy. Business leaders around the world should pay close attention to the outcomes of the summit and to the implications for their businesses.
Here are some additional details about the theme of the 2023 BRICS summit and the countries that want to join BRICS:
The theme of the 2023 BRICS summit, “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism”, reflects the growing importance of Africa to the BRICS countries. Africa is home to some of the fastest-growing economies in the world, and the BRICS countries are keen to increase their trade and investment ties with the continent.
The countries that have expressed interest in joining BRICS include: Argentina, Iran, Saudi Arabia, the United Arab Emirates, Cuba, Democratic Republic of Congo, Comoros, Gabon, and Kazakhstan. These countries are all looking to gain access to the BRICS market and to benefit from the group’s economic and political influence.
The BRICS summit is a significant event that has the potential to shape the global economy. Business leaders around the world should pay close attention to the outcomes of the summit and to the implications for their businesses.
BRICS Currency Pros and Cons
The BRICS countries – Brazil, Russia, India, China, and South Africa – are some of the largest and fastest-growing economies in the world. To further boost their economic cooperation, the idea of creating a common currency for these countries has been floated for several years. In this article, we will explore the pros and cons of a BRICS currency for these countries.
Pros of a BRICS currency:
Improved trade relations: One of the main advantages of a common currency is that it can increase trade between BRICS countries. By eliminating the need for currency conversion, transactions between these countries can become smoother and faster. This can lead to greater trade volume and a stronger economic relationship between the BRICS nations.
Reduced transaction costs: A common currency would reduce the costs of currency conversion and cross-border transactions. This would make it easier and more cost-effective for businesses in the BRICS countries to trade with each other, which could increase economic growth and create new opportunities for trade and investment.
Increased economic stability: A common currency would provide more stability for the economies of the BRICS countries. By reducing the volatility of currency exchange rates, businesses would be able to better plan for the future and make more informed decisions. This could lead to increased investment and economic growth in the BRICS countries.
Greater financial integration: A common currency would foster greater financial integration between the BRICS countries, making it easier for them to access each other’s financial markets. This could lead to increased cross-border investment and the development of new financial products and services.
Cons of a BRICS currency:
Political difficulties: The creation of a common currency would require significant political cooperation and coordination between the BRICS countries. This could be difficult to achieve, as each country has different political and economic systems and priorities.
Economic differences: The economies of the BRICS countries are at different stages of development, and some are more advanced than others. This could make it difficult to maintain a common currency, as the economies of the BRICS countries may evolve at different rates and in different directions.
Lack of monetary independence: By adopting a common currency, the BRICS countries would give up their monetary independence and would no longer be able to use monetary policy to address their own economic challenges. This could limit their ability to respond to economic shocks and difficulties.
Need for significant structural reforms: To make a common currency work, the BRICS countries would need to undertake significant structural reforms to ensure that their economies are compatible with each other. This could be a long and difficult process, and there is no guarantee of success.
In conclusion, the idea of a BRICS currency has both potential advantages and drawbacks for the BRICS countries. While it could lead to greater economic cooperation, stability, and growth, it would also require significant political cooperation, structural reforms, and give up monetary independence. Ultimately, the decision of whether or not to adopt a common currency will depend on a careful consideration of the pros and cons, and a willingness to work together towards a common goal.
Unlocking the Potential: The Pros and Cons of a BRICS Currency for Global Business Leaders
A business plan for non-BRICS country businesses to protect and grow their business in or with BRICS countries should include the following steps:
Market research: Conduct thorough market research to understand the economic and political conditions, cultural differences, and consumer preferences in each of the BRICS countries. This will help you tailor your business strategy to each market.
Localisation: To succeed in a foreign market, it is essential to localize your business operations. This includes adapting your products and services to the local market, localising your marketing and branding efforts, and building local partnerships.
Local partnerships: Building local partnerships with suppliers, distributors, and customers is critical to success in the BRICS countries. This will help you overcome challenges such as language barriers, cultural differences, and regulations.
Risk management: Doing business in foreign countries comes with inherent risks, such as currency fluctuations, political instability, and economic uncertainty. To mitigate these risks, it is important to have a robust risk management plan in place. This can include currency hedging, insurance, and contingency planning.
Cultural sensitivity: To succeed in the BRICS countries, it is important to understand and respect the local culture and customs. This includes adapting your communication and business practices to local norms, and avoiding cultural missteps that could harm your reputation.
Compliance: Each of the BRICS countries has its own unique regulations and legal requirements. It is important to understand and comply with these regulations to avoid costly penalties and legal disputes.
Continuous monitoring: Doing business in foreign countries requires ongoing monitoring and adaptation. Keep track of market trends, political and economic conditions, and consumer preferences in each of the BRICS countries to ensure that your business is positioned for success.
By following these steps, non-BRICS country businesses can protect and grow their business in the BRICS countries, taking advantage of the tremendous economic opportunities that these markets offer.
What do BRICS countries want to export and import
The BRICS countries, which include Brazil, Russia, India, China, and South Africa, are among the largest and fastest-growing economies in the world. As such, they have a diverse range of exports and imports. Here’s a general overview of what each of these countries tend to export and import:
Brazil: Brazil is a major exporter of commodities such as iron ore, soybeans, petroleum, and coffee. It imports a range of goods including machinery, electronic equipment, vehicles, and chemicals.
Russia: Russia is one of the world’s largest exporters of oil and natural gas, as well as other commodities such as metals and timber. It imports a variety of goods including machinery, electronics, and consumer goods.
India: India is a major exporter of textiles, pharmaceuticals, and information technology services. It imports a range of goods including machinery, crude oil, and precious metals.
China: China is the world’s largest exporter of manufactured goods, including electronics, machinery, and textiles. It imports a range of goods including crude oil, raw materials, and food products.
South Africa: South Africa is a major exporter of precious metals such as gold and platinum, as well as other commodities such as coal and iron ore. It imports a range of goods including machinery, vehicles, and chemicals.
It’s important to note that the exports and imports of each of these countries can be influenced by a range of factors, including domestic and global economic conditions, trade agreements, and government policies. Nevertheless, these countries play an important role in the global economy and their exports and imports are closely watched by businesses and governments around the world.
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Make sure you focus your business resources on the key threats and opportunities facing your business
How do you make sure your business does not fail?
Avoid mistakes your team know are too risky. Pick up business tips help and support to protect and grow your business. What do you need to make sure doesn’t happen in your business in next 5 years if you are to look back and assess your business plan to have been a success? What do you not want your business to look like in five years time? How are you going to ensure you are successful? Collaborate with other business leaders on a better business risk management strategy. Adopt a more creative innovative approach to business risk taking.
Find and solve business problems more cost-effectively.
Manage your business risks better.
Learn how to sell more online to grow your business faster.
Analyse key business risks currently impacting on your business and risks on the horizon. Understand the benefits of balanced business risk management strategy. Focus your available resources on what really matters for your business.
Access unbiased independent business risk information in your business risk management process.
Identify assess and understand your best business opportunities and threats to your business assets.
Prioritise your limited resources of time and money to focus your business energy on those issues most likely to bring you success in business.
Waste less time on trivial, low-risk or unimportant things related to your business objectives.
Gain risk insight knowledge and business intelligence to improve your business decision-making.
Make better decisions and act on what do you have decided upon quickly.
Make sure that decision-makers are accountable for their risk analysis, decisions and actions. overcome your false risk perceptions with better risk analysis and learn to stop analysis paralysis holding your business back.
What is it about your business culture or reputation that should attract more job applications? How do you engage with your employees and fulfil their career progression aspirations? How well do you communicate with your existing employees and with those whom you wish to attract to your business? What opportunities are there for your employees to learn and develop their skills whilst improving your business development?
Have you overlooked the potential of your existing employees to fill your own skills gaps? Could you adjust your job descriptions to attract people who have the potential to grow into roll you need to fill? What could your business do in the short-term to manage what may be a short-term problem?
If you are not filling up your boat fast enough, what are you doing stop it leaking!
Many businesses under value the talent they have in their business already. The cost of replacing existing talent can include a higher salary to attract staff who leave, lost business waiting to fill job vacancies and the dissatisfaction of the employees left within the business.
Do you know if you have a problem of staff retention? There is a tendency for business leaders to blame the people who have left the business when the problem is how business leaders manage staff retention.
Do you know if you’re wages and benefits are competitive in the marketplace? A leaky boat could become a sunk boat! You may need to adjust your business priorities to prevent future issues becoming catastrophic.
Could better use of existing staff not only improve the business, but boost the confidence and loyalty of existing staff to stay with the business for the long haul.
What other changes apart from P can your business make to encourage existing staff to stay and attract talent? many people know value flexible working opportunities over higher pay and that may keep your existing staff or attract new employees.
The fuller engagement of employees in the journey of the business can pay dividends in terms of staff retention and avoidance of service quality issues.
Upskilling your workforce is essential for retaining and attracting new talent.
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You may need to change your approach if resourcing is causing business development problems. The cause of your skills gap maybe your own doing or maybe a marketplace issue. Either way your skills gap will need to be addressed if it is to stop impeding your business progress. What is your plan to fill your skills gap?
Exploring preparation for a global recession with a businessrisktv.com
What happens to commodity prices in a recession
The coming global recession will slash demand for oil copper and the like. Prices for most commodities will fall. If the world falls into depression commodity prices will fall off a cliff including oil.
Some prices can rise temporarily as people seek a safe haven. People may flee to gold or a few commodities that they think will safe harbour their money during a recession. However a depression, which is more and more likely, causes most commodity prices to collapse.
June’s weaker demand for commodities signals that an economic global recession is coming closer.
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Global recession is necessary to stop runaway global inflation. The hard landing is the only option now available due to the lacklustre response to control inflation by Central banks and global national government.
Agricultural demand and energy demand is likely to keep rising during the autumn and winter and will sustain high commodity prices. This is likely to be aggravated by poor geopolitical decision-making by incompetent national leaders and global bodies like WHO, UN and WEF puppet masters and pied pippers particularly as it relates to food, water and energy. It is likely that another health crisis will emerge in the autumn winter and spring and this is likely to be managed in a restrictive way due to the propensity of these international bodies to take more and more health and economic risk management control. In addition, as demand falls due to rising inflation it can be combined with increased supply chain disruption imposed by recommended risk management action by international bodies that national governments adopt. Worse WHO wants overseeing overriding control of the next wave of the pandemic or next health pandemic.
Demand is likely to stay the same or slightly lower, but our leaders can change the supply up or down with their decisions. Reducing supply will push up prices.
Global stagflation is a certainty. When not if.
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Global commodity prices
Wheat and oil future prices are down in June based on the most actively traded futures. Weaker commodity prices in June indicate we are transitioning to a global recession. Although commodity prices will fall, inflation will increase and stay high whilst growth turns to recession. For example there will be less demand for oil, oil prices will fall, but prices of goods and services will remain high.
Surviving global recession: how do you prepare for a recession
Businesses that can offer business discounts and consumer discounts are more likely to survive as more people become price conscious.
Businesses that supply essentials or luxury items at a discount offer more in the marketplace compared to those businesses who have let their own costs of being in business balloon and cannot offer deals and discounts.
Discount grocery and retail stores tend to have more footfall during a recession. Many supermarkets take advantage of their customers during the good times and suffer a loss of business and profitability when recessionary precious hit the consumers household budget.
People still die during recession! After the management of global risks over the last two years more people will die. businesses which cater for death are likely to perform strongly throughout a recession.
People turn to drink and drugs during a recession! Businesses providing alcohol and drugs will perform strongly during the coming recession.
You still have to pay your taxes! Accountants and tax advisors are likely to still perform well during the recession.
Everyone can afford a bit of lippy! Cosmetic businesses can perform well during a recession.
As for the rest of businesses, they must fully understand what’s important and what is not for their particular business model. Offering more value for money will become more important.
Global recession 2023
Risk Review 28 June 2022: Transitioning to a global recession in 2023
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Has your business been just surviving for too long and could it be more successful?
There are many ways to grow a business. There is no right way fits all businesses. Even if the business is almost the exact same as another business in terms of who they target to sell to and have the same resources, the success and failure can come down to who leads the business and how they manage limited resources.
The problem can be exacerbated by outside risk events like wars, pandemics and interest rate movements, but controlling both internal and external risk drivers is what a leader is paid to do.
How can you save and grow your business
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Do not let fear of unknown and uncertainty deprive you of a more successful business. We can help you make better business decisions with increased risk knowledge, improved risk management skills and better business intelligence.
Business survival in the current economic climate is an important first base objective. However, attack can be the best form of defence! Growing your way out of the imminent global recession may help you not only survive but prosper.
Why has your business not grown as fast as you would have liked?
Do you know?
Is that the right perception of your failure to grow?
Do you know what you could do differently?
Why haven’t you made the changes needed to be more successful in business?
Sure there have been challenges over last few years. Yes you had to react fast to survive. However, getting ahead of the impeding disaster to hit many businesses will help your business survive and grow.
Its business leaders seek to increase profit not turnover;
Its business leaders engage everyone in the process of being better, regardless of how good they currently are at the way they do things.
Become more tuned to the needs of your business stakeholders. Adapt your offering to the marketplace to dit those needs better. Deliver what they need and want more cost-effectively with less uncertainty. Make money more easily with more certainty with a better business risk management plan. Maximise the value of your business with a better offering to the marketplace.
Mastering the Right Business Skills: Overcoming Problems and Embracing Opportunities
In the dynamic and competitive landscape of the business world, possessing the right set of skills is crucial for running a successful enterprise. Whether you are an entrepreneur starting a new venture or an established business owner, honing your business skills is essential for tackling challenges, solving problems, and capitalising on opportunities. This article explores the key skills needed to run a successful business, highlights the importance of these skills, discusses problem-solving strategies, and provides practical tips for improving your business acumen.
I. The Essential Skills for Running a Successful Business
Running a successful business requires a combination of hard and soft skills. Below are some key skills that entrepreneurs and business owners should develop:
Leadership and Communication Skills: Effective leadership is vital for guiding teams, making strategic decisions, and inspiring employees. Strong communication skills foster collaboration, negotiation, and relationship building.
Financial Management Skills: Understanding financial concepts, managing cash flow, and analysing financial statements are crucial for making informed business decisions and ensuring long-term sustainability.
Marketing and Sales Skills: The ability to identify target markets, develop effective marketing strategies, and close sales is essential for attracting and retaining customers.
Problem-Solving and Decision-Making Skills: Being able to analyse complex situations, think critically, and make sound decisions in a timely manner is vital for overcoming challenges and seizing opportunities.
Adaptability and Resilience: The business landscape is constantly evolving, and being adaptable and resilient allows entrepreneurs to navigate uncertainties and bounce back from setbacks.
Time and Project Management Skills: Effective time management and project planning ensure that tasks are completed efficiently, deadlines are met, and resources are optimised.
Networking and Relationship Building Skills: Building a strong network of contacts, maintaining customer relationships, and nurturing partnerships are valuable for business growth and opportunities.
II. The Importance of Business Skills
Business skills are fundamental for several reasons:
Successful Decision Making: With the right business skills, entrepreneurs can analyse data, evaluate risks, and make informed decisions, leading to better outcomes and growth.
Efficient Problem Solving: Business skills equip individuals with problem-solving techniques to identify and address issues, enabling smoother operations and improved customer satisfaction.
Adaptation to Changing Markets: Business skills enable entrepreneurs to stay abreast of market trends, identify emerging opportunities, and adapt their strategies to remain competitive.
Effective Communication: Strong communication skills enhance collaboration, team dynamics, and customer relations, fostering a positive brand image and facilitating business success.
Building a Strong Team: Business skills contribute to effective team management, recruitment, and employee development, leading to a motivated workforce and higher productivity.
Financial Management: Proficient financial skills help entrepreneurs manage budgets, cash flow, and profitability, enabling sustainable growth and mitigating financial risks.
III. Solving Business-Related Problems
To solve business problems effectively, consider the following strategies:
Define the Problem: Clearly identify the problem by analysing the root causes and understanding its impact on various aspects of the business.
Gather Information: Collect relevant data, conduct research, and consult experts to gain insights and develop a comprehensive understanding of the problem.
Analyse and Prioritise: Break down the problem into manageable components, evaluate their significance, and prioritise areas for action.
Generate Solutions: Encourage brainstorming sessions to generate a range of potential solutions. Evaluate each option based on feasibility, cost-effectiveness, and alignment with business objectives.
Implement and Monitor: Select the most viable solution and create an action plan. Monitor progress, gather feedback, and make necessary adjustments to ensure effective implementation.
IV. Improving Business Skills
Enhancing your business skills is an ongoing process. Here are some practical ways to improve your skills:
Continuous Learning: Stay updated with industry trends, technologies, and best practices through books, online courses, podcasts, and industry events.
Seek Mentorship: Engage with experienced professionals who can provide guidance, share insights, and offer support based on their own business experiences.
Networking Opportunities: Attend business conferences, join professional associations, and actively participate in networking events to expand your connections and learn from others.
Embrace Feedback: Seek feedback from customers, employees, and mentors to identify areas for improvement and make necessary adjustments.
Develop Emotional Intelligence: Enhance your ability to understand and manage emotions, build relationships, and communicate effectively.
Delegate and Empower: Learn to delegate tasks and empower your team members, allowing you to focus on higher-level strategic activities.
Engage in Critical Thinking: Develop critical thinking skills by analysing complex problems, evaluating multiple perspectives, and making informed decisions.
Mastering the right business skills is a prerequisite for running a successful enterprise. These skills empower entrepreneurs and business owners to overcome challenges, solve problems, and seize opportunities in the dynamic and competitive business landscape. By developing and honing the essential skills discussed in this article, individuals can enhance their decision-making abilities, adapt to changing markets, and build thriving businesses. Continuous learning, seeking mentorship, embracing feedback, and practicing emotional intelligence are practical ways to improve business skills. Remember, the journey to becoming a successful entrepreneur is a continuous one, and investing in your business skills is an investment in your future success.
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Many very large businesses have already announced profit warnings. others have stopped recruiting. Central banks are stopping the release of cheap money into the economy. we have said for sometime now, that a global recession is coming to your business. have you prepared your business? What are you waiting for?
Rising unemployment is a common painful fact of a recession. With the current shortage of skills and high employment levels, many are burying their head in the sand about the economic factors which will bring about a global recession within the next 12 to 18 months. Too busy with other problems to think that far ahead, I hear you say? an understandable retort when business resources are limited. however, if you only invest your time and money in fighting current fires, you will always be reactive fighting current fires. taking some time to be more proactive, will enable you to breathe more easily and fight fewer fires.
How can your business prepare for and weather the coming global recession storm:
Simply battening down the hatches may not be the way to survive. Waiting for the storm to blow over may result in your business being blown away!
Stopping your investment in the right places of your business would be a mistake. knowing which parts of your business are the right parts is the tricky question.
Now, before the storm, maybe the time to review your business strategy and come up with an alternative risk management strategy to survive the change in business environment.
Will your business survive and thrive during a recession, perhaps a longer depression?
How can a business grow during a recession
Do you think keeping what you’ve got is the only business strategy to survive a long recession? Could you grow your way out of a recession:
Cutting your customer base yourself may be one way to shore-up your business resilience. Most of a business profit comes from a small percentage of its customer base. If your customers just bring turnover not profit they may sink your business not save it!
Boosting your productivity maybe an easier win then you think. Working smarter with your existing resources and assets will help your business sweat out more money.
Reaching out to more customers and markets maybe a better way to survive. Some of your competitors may have too much fat on their prices. Others may be great businesses but too much debt holes their business development strategy and they may go under. Other businesses will have opportunities from the survival of the fittest not necessarily the biggest or best.
Some businesses and business owners will get rich during the coming global recession. Your business will be affected by the recession, but it doesn’t need to be all bad or fatal.
Business strategy during recession
Managing debt down will be a crucial part of survival. That does not mean stopping spending. It means taking care to spend your money on the right things during a recession.
You need to look again at your decision-making. What are your priorities in a recession, compared to normal business environment?
Laying off workers may be a lazy business strategy. it is an easy obvious way to cut costs but it may mean that you are cutting your own business throat.
What is your business really good at? How can you do more of it? controlling cash flow and unnecessary spending is important, but that does not mean cutting investment in your business future.
Just because a business is big does not mean it will survive, nor does it mean that small businesses will suffer the most during a recession. Some of the biggest businesses that look amazing may have underlying issues that will sink them. small businesses who react quickly may be able to pick up the pieces.
How does the economy affect businesses
The more resilient a business is, the more likely it will be to survive the multitude of risks facing businesses in the current business climate. As a business leader you may not have control over all risk events which occur in the global economy, but you can be prepared for every eventuality.
Recessions affect different businesses differently. Do you understand what could sink your business? Are your risk control measures working? Have you put in place appropriate risk control measures for impending imminent future risks that may develop. is your business prepared?
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How to improve decision-making in business
Successful business leaders:
Identify the internal and external risk factors driving the key risks impacting negatively and positively on your business objectives.
Evaluate options with best perception of risks and establish prioritisation of limited business resources where best outcomes can be anticipated.
Navigate risks and uncertainty proactively.
Formalise your decision-making process so you can monitor your good and bad decisions to learn lessons you can act upon to improve your business performance through better business decisions.
Guide your business through the coming uncertainties of your business environment
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Your strategic operational and project decisions will create or destroy your future success in business
Cost effective decision-making in dynamic business environment requires business leaders to understand key business risks. Rethink what will be critical to your success in business.
The fast-paced complex nature of the business world means business leaders must have confidence in their decision-making processes and practices to ensure they make the best decision possible at the right time. Often the right decision is required sooner than later.
Decision-making can be worked on to improve your risk management skills. You need to know how your leadership decisions will impact on your business, preferably before you implement your decision.
Work on the best strategy for your business in these highly uncertain times
Get help to grow in a business environment which is hard to predict, but through which you need to navigate.
Decision making under uncertainty
Procrastination or failing to take risks can be as damaging as taking calculated risks to achieve business objectives. The uncertainty in business environment is not going to go away. Waiting for the right time may mean you wait forever and it still works out badly for your business.
A recession, even a depression, can be a good tome to beat your competition through business growth
A global recession is coming. It may even turn into years of depression. You may need to rethink your business during the uncertainty that comes during the bad months, perhaps years, ahead.
Work with us to learn how to succeed in uncertain times
We connect with business leaders to manage the risks during heightened uncertainty. The threats to your business have rarely been greater. However, the riskiest business environments create the best tomes for faster business growth.
Embracing Risk in Business: Overcoming Failure and Breaking the Status Quo Trap
If you want success in business you have to take risks and know that if you made bad decisions Plan B, C or D will enable you to recover and still move forward.
In the dynamic world of business, success often hinges on the ability to take risks and make informed decisions. Entrepreneurs and business leaders know that to achieve significant growth, they must step out of their comfort zones and embrace uncertainty. This article explores the importance of risk-taking in business and how it can lead to success. Additionally, we will discuss the strategies to overcome failure, the perils of the status quo trap in decision-making, and the impact of risk on the decision-making process.
Why is risk important in business? 1.1. Driving Innovation and Growth 1.2. Seizing Opportunities in a Competitive Market 1.3. Navigating Uncertainty and Adapting to Change 1.4. Attracting Investors and Stakeholders 1.5. Learning and Personal Growth
How do you overcome business failure? 2.1. Accepting Failure as a Learning Opportunity 2.2. Analysing and Understanding the Root Causes of Failure 2.3. Reevaluating and Adjusting Strategies 2.4. Cultivating Resilience and Perseverance 2.5. Seeking Mentorship and Learning from Others’ Experiences 2.6. Leveraging Failure for Future Success
The Status Quo Trap in Decision-Making 3.1. Defining the Status Quo Trap 3.2. Recognizing the Dangers of Complacency 3.3. Assessing the Cost of Inaction 3.4. Overcoming the Status Quo Trap 3.5. Encouraging a Culture of Innovation and Change
How Does Risk Affect Decision-Making? 4.1. Rational vs. Irrational Decision-Making 4.2. Understanding Risk Appetite and Tolerance 4.3. Weighing Potential Gains and Losses 4.4. Mitigating Risks through Analysis and Planning 4.5. Balancing Risk and Reward 4.6. Incorporating Risk Management Strategies
To achieve success in business, it is imperative to recognise the significance of risk-taking and the role it plays in driving growth, innovation, and adaptability. Overcoming failure requires resilience, a willingness to learn from mistakes, and a commitment to constantly improve. Moreover, breaking free from the status quo trap empowers decision-makers to challenge conventional thinking and embrace change. By understanding the interplay between risk and decision-making, entrepreneurs can make informed choices that lead to positive outcomes and propel their businesses forward.
Remember, success in business isn’t about avoiding risks altogether but rather about managing and mitigating them effectively. Embrace the unknown, learn from failures, and dare to challenge the status quo — for it is through these actions that true success can be achieved.
Increase your control over current and future business risks by acting proactively on the key risks to your business:
Identify the key risks to your business objectives
Analyse the risks
Evaluate the risks
Treat the key risks in the right priority
Monitor and review the risks
Ensure you are using your limited resources cost-effectively.
Risk management techniques to know which business risks to take and which ones not to take
Some business risks are worth taking. Others are not. Prepare for and manage key risks to your business. Develop the best strategy when taking risks to ensure net positive impact on your business objectives.
Business innovation and new business ideas are linked to risk taking. Take calculated risks to grow your business faster.
Develop a systematic way to assess the risks to your future business success. Not all the opportunities for business growth are equal. Pick the best ones for your business with tips advice and support from BusinessRiskTV.
Ways to manage business risks
With limited resources including time and money, prioritising the deployment of resources in best way is most important aspect of effective risk management.
Buying insurance is not the panacea. An insurance portfolio brings its own risk to your business.
Well worded contractual agreements and legal risk management can limit liability and wasted money.
Undertaking good supplier risk management and customer management can also stop risk events or mitigate impact on your business.
Controlling the risks from business expansion can also boost returns on increased sales or revenue.
Many risks with the potential to impact on your business are beyond your control. This is simply another good reason to control the risks within your power to control.
In a dynamic business environment it is important you fully understand your risk exposure so you can pivot and respond to change or risk events.
How to improve risk management with BusinessRiskTV
Keep up to date with changing business marketplace for your country or industry.
Figure out how to sustain your business in any economic climate. Our corporate risk management services can help guide you through the best and worst of the economic cycles. Protect your business and pivot to expand when risk events occur. Is it time to use creativity and innovative business development ideas to protect and grow your business. Drive your business growth faster, or at least ensure you survive what the world throws at your business.
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Embrace the changing world. Seek out better ways of growing your business faster.
Engage the right people at the right times from our Business Intelligence sources, Knowledge Marketplace and Business Experts Hub. Business leaders need to take action to survive and prosper as the rapidly changing world can kill those businesses unwilling to change.
What makes a business sustainable and profitable
Sustaining growth in business during global recession
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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.
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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.
Manage megaproject risks with unprecedented project intelligence analytics and protect value and outcomes with BusinessRiskTV help, tips, advice and training.
Risk Management & Project Intelligence
Managing risk in complex megaprojects with project intelligence you can achieve megaproject results on time delivery, within or even under budget, and with less uncertainty.
Improve your megaproject value by improving your risk management knowledge, skills and project intelligence analytics from hundreds of thousands project records.
Our convenient, affordable and easy to arrange megaproject risk management courses, workshops and roundtable discussions are designed to make you more knowledgeable of risk management issues and solutions in order to achieve expected project value, more easily with less uncertainty by establishing trust and transparency between the project owners, main contractors, subcontractors and suppliers.
Practical learning is delivered by risk management and megaproject experts with decades of experience.
You will learn more about key megaproject risks and how to achieve sustainable megaproject value.
Excellent value-for-money services provided to you and your team when we transfer to you our risk management and megaproject intelligence skills.
Save money on the cost of travel and accommodation. Ensure the success and value of your megaproject.
Take your career in project management to the next level.
Learn practical ways to manage megaproject risks better.
Use real world class systems to help you create more value with less uncertainty.
Do you want to find out more about our megaproject risk management training, workshops and roundtable discussions
Sign up for an attractive, informative and practical online course called Megaproject Risk Intelligence addressing:
Best Practices for Megaprojects Risk Assessment, Management & Prevention
Best Practices for Near-Real Time Megaproject Performance Monitoring & Assessment
Best Practices for integration of Project Performance and Risk Management KPIs
Templates and Analytics for the above
Contact Keith Lewis by scanning LinkedIn code below, or click on button below, to find out when the next online course is. Sign up for the next Megaproject Risk Intelligence course quickly safely and securely with Paypal independent third party payment application. We will never see your full payment details so safe and secure.
Are you responsible for projects and project risk management for megaprojects?
Complex mega projects achieve better for project owners and contractors if the risks of the megaproject are fully understood and the megaproject risk management solution is more holistic and less complicated.
BusinessRiskTV Workshops
BusinessRiskTV megaproject risk management and project value intelligence courses, workshops and roundtable discussions are designed to make complex megaprojects less complicated and more certain of completion on time, within budget and to a high quality of project performance. Our aim is to enhance your risk management knowledge and build project value intelligence. You will understand megaproject risk management better to enable you to manage your mega project more cost-effectively enhancing project value for all parties.
Learn risk management skills and project management value intelligence wherever you are in the world, whatever megaproject you are to be involved in, or are already involved in. Understand the key risks and challenges to megaproject valuation. Achieve great project value with less uncertainty impacting on project outcomes.
Practical learning is delivered online by risk management and megaproject experts with decades of experience. You’ll learn more about key megaproject risks and how to protect and grow megaproject value. Excellent value for money provided when risk management skills and megaproject value intelligence developed online wherever in the world you have good internet connection. Save money on the cost of travel and accommodation. Ensure the success and value of your megaproject. Improve your skills knowledge and project intelligence while you are working. Take your career in project management to the next level. Learn practical ways to manage megaproject risks better. Use real world systems to help you create more value with less uncertainty.
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Online Marketing Experts
The fastest growing businesses are those with an affordable sustainable digital marketing strategy. We offer you digital marketing service to help you grow your business faster for longer. Our digital marketing experts and influencers will help you reach more new customers loop more affordably. How far can your business go in your preferred marketplaces with our help and digital marketing tools and techniques.
We need to understand who you are trying to reach, where and when. What you need in terms of online marketing, our digital market experts will deliver for you, so you can get on with delivering your products and services.
Ready for more customers?
If you are not selling your stock fast enough or you have spare service capacity reducing your earning power, BusinessRiskTV can help you reach people right when they’re interested in the products or services you offer. You’ll be seen not just in Search results, but across the web, from apps to YouTube, TikTok, Instagram, LinkedIn, Twitter, GETTR, Pinterest and more.
You choose the type of ad you want to show within your marketing budget and then measure the impact of your advertising and marketing with us. If it is working well, continue marketing within your budget for faster long-term growth in partnership with us.
Once we understand who you are targeting we’ll focus your marketing budget in the best place to grow your customer base.
Here’s something to help you get started
We’ll five you a free day’s marketing spend for every day you pay for to give your business a boost at the beginning of our working relationship.
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A digital marketer is responsible for helping maintain and grow a brand or business by working on marketing campaigns. Their duties include performing market research, strategising with other marketing professionals and creating content to aid in the success of marketing campaigns. Our innovative content creation will help you market your products or services in a targeted marketing campaign to grow your business more profitably for longer.
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Join the right community for your country or industry. We know that running a business can be lonely. Sometimes having someone to bounce off can be helpful. Get advice and debate business risk management solutions. Gain risk insight and build business intelligence to inform your decision-making. Feed of the experiences of:
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Find the right business forum for your business needs. Engage with our online discussions. Ask for advice on your business problem.
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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.
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Take The Leap Into Your Future Business Success With More Confidence
Make the leap! Expand your business thinking. Deliver a successful innovation strategy for your business in with BusinessRiskTV.com. Grow your profits through better products or services innovation and better external communication.
We support businesses innovate by our business experts, business intelligence and innovative business development tools.
Create more value for your customers, your employees and yourself. Harness what is already good in your business and let us help you take your business to the next level!
Reinvent or redesign your corporate strategy to drive faster business growth and generate more business value.
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The pandemic, the war, the energy crisis, the food crisis and the health crisis will create economic chaos over the next couple of years. That does not mean you might as well shut up shop and go home! When chaos causes other business leaders to fold you need to become even more creative, flexible and dynamic. To prepare for the ensuing economic disaster you need to build on your hard work managing effects of pandemic to cover more issues including continuing supply problems, rising costs and bad debt. You may have thought that now a couple of years after the pandemic started you could start to breath more easily. Unfortunately the economic effects of the pandemic were smoothed out with unprecedented monetary support from global governments. However their magic money tree has died! You are on your own now. Now we will see who really are the good business leaders.
We do not yet know and will never know with certainty, what key risks we will have to deal with in business. This is why we are horizon scanning for you. Our risk management experts are analysing and assessing new risks. We are researching and developing new risk management solutions. Subscribe for free to BusinessRiskTV to keep up to date with potential new threats and opportunities for your business.
The price of a share does not tell you the value of a business. The type of business valuation is key in decision-making. What business valuation you are assessing will depend on why you are making a point of valuing a business:
The value of a business an employee will want will depend on why the employee is working for a business. Some employees live from pay cheque to pay cheque and regard the business to be worth merely the value of pay received each month or week. Other employees see a business as a stepping stone to next career progression and value the business reputation in the marketplace rather than a monetary value will be of more importance. Other employees want to be fully engaged in the mission of the business and need to be kept fully onboard with business plans to place positive value in the business.
Investors traditionally have sought capital appreciation, income or both from their investment in a business. Anything that detracted from profit or revenue generation may not have been welcomed. The proliferation of the Woke Society, if you are ungenerous or socially responsible if kinder, means that ethics social responsibility and good governance (ESG) has meant that many investors want better holistic enterprise risk management (ERM) performance. New jobs have even been created at board level to reflect this, such as Chief Impact Officer responsible for every process that generates any kind of social and environmental impact (as defined by the company’s mission and values).
Customers are valuing businesses differently. Many more consumers use their spending power to punish poorly managed businesses in field of ESG or ERM, and reward businesses performing well in the ESG or ERM arena. We used the word arena deliberately as ESG or risk management in general is now often used as a show pony or window dressing when in reality the business is performing badly in the real world of managing all business risks well.
Business leaders will respond to regulation of their business but in the heavily regulated world of financial services, for example, we still find yearly evidence of poor risk management by banks despite nearly two decades passing from the time the banks nearly sent the whole world tumbling over the abyss to total societal collapse due to the banks regulators and politicians failing to manage business risks holistically well in 2008.
Scanning Horizon For Business Threats and Opportunities
Many are frightened that the next 12 to 24 months will see a long period of economic depression due to failure to manage risks well
Think inflation is bad now – you ain’t seen nothing yet! A food shortage will result in millions starving in 3rd world countries and hyper food inflation in 1st world countries. We are not going to starve but we are going to pay for poor business and economic risk management.
The share price of many businesses over the next couple of years are going to collapse. However, the same businesses value will not have fallen, just the share price. Investors including the person in the street through pensions will see the value of their retirement fund drop off a cliff. Employees will lose their pay cheque to pay cheque existence as many will lose their job. Consumers will pay more for the same or poorer products and services. What are you going to do to protect yourself?
Employees need to keep to keep abreast of the health of their employers business. They may even be wise to pick a different employer who is stronger if they can assess which businesses are strong and which businesses are weak.
Investors maybe better out of the marketplace, or keep up with regular investing. It is counter intuitive. However few can pick the moment of a bear market turning into a depression. The only good thing about a depression is that it will be a good time to invest! Likewise no one can identify the bottom of a market. One solution is to get out of the market but the other is to invest through the depression to get the benefit of the lows to compensate for the loss of the highs.
Consumers need to diversify to protect themselves from loss of money in one area. Cash is king just now. However globally governments are even destroying the value of cash in more ways than one! Real wealth is having enough money to pay for your lifestyle without needing to work, for as long as possible. You may outwardly have money but wealth is measured in financial freedom not in currency or other assets. The value of many perhaps most assets is set to fall.
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Your business development plan and business development strategy needs assessing monitoring and review to produce long-lasting reward for business leaders
Learn to enjoy and fully embrace business development process and the your business development goals will come. Focusing on sales increase may be your problem even if sales are increasing. Sustainable sales growth will come from the right business development process not sales increases. A whole host of reasons can be found to explain why your sales are increasing and not all of them can be sustained for long-term business expansion.
Business risks are changing faster and therefore business risk management needs to change faster to still protect a business.
Business Experts Forum and The Marketplace To Help Business Leaders Manage Business Risks Better
How to reduce uncertainty in business with BusinessRiskTV
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Our Business Experts Hub is a home for business experts with knowledge of most country and industry risks. They want to help you manage your key risks better to build your business resilience and help you grow your business faster.
Rethinking and Re-purposing Your Business During Uncertainty
Virtual Exhibition Platform To Showcase Your Business Products and Services To Buyers Already Interested In Your Type Of Business Offering
Pick the best online marketplace to showcase your business products or services with BusinessRiskTV help.
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Growth Strategy with BusinessRiskTV
Developing a growth strategy is an important task for any business looking to achieve success and expand its operations. A well-crafted growth strategy can help you identify new opportunities, target new markets, and increase your revenue streams. However, developing an effective growth strategy is not always an easy task. It requires careful planning, a deep understanding of your market, and a willingness to take calculated risks.
BusinessRiskTV is a platform that helps businesses develop growth strategies by providing them with access to a network of business experts, tools, and resources. In this article, we’ll take a closer look at how BusinessRiskTV can help you develop a growth strategy that works for your business.
What is a Growth Strategy?
A growth strategy is a plan of action that businesses develop to achieve growth and success in their respective markets. It involves identifying new opportunities, targeting new markets, and developing new products or services. A growth strategy can also include mergers and acquisitions, partnerships, and other strategic alliances.
There are several types of growth strategies that businesses can pursue, including:
Market Penetration: This strategy involves selling more of your existing products or services to your current customers or increasing your market share in your existing market.
Product Development: This strategy involves developing new products or services to sell to your existing customers or expanding your product line to attract new customers.
Market Development: This strategy involves selling your existing products or services in new markets or expanding your business into new geographic regions.
Diversification: This strategy involves diversifying your business into new markets or industries that are unrelated to your existing business.
Why is a Growth Strategy Important?
A growth strategy is important because it helps businesses achieve their long-term goals and objectives. It allows businesses to stay competitive in their respective markets and adapt to changing market conditions. A growth strategy can also help businesses increase their revenue, profits, and market share.
However, developing an effective growth strategy is not always easy. It requires careful planning, market research, and a deep understanding of your business and your market. This is where BusinessRiskTV can help.
How BusinessRiskTV Can Help You Develop a Growth Strategy
BusinessRiskTV is a platform that provides businesses with access to a network of business experts, tools, and resources. The platform can help you develop a growth strategy that works for your business by providing you with the following:
Business Experts: BusinessRiskTV provides businesses with access to a network of business experts who can help you develop a growth strategy that works for your business. These experts have years of experience in their respective fields and can provide you with valuable insights and advice.
Tools and Resources: BusinessRiskTV provides businesses with access to a range of tools and resources that can help you develop a growth strategy. These tools include market research reports, industry analysis, and financial modeling tools.
Networking Opportunities: BusinessRiskTV provides businesses with networking opportunities that can help you connect with other businesses in your industry. These connections can lead to new partnerships, collaborations, and business opportunities.
Training and Education: BusinessRiskTV provides businesses with access to training and education programs that can help you develop the skills and knowledge you need to succeed in your industry.
Developing a Growth Strategy with BusinessRiskTV
Here are some steps you can take to develop a growth strategy with BusinessRiskTV:
Define Your Goals: The first step in developing a growth strategy is to define your goals. What do you want to achieve with your business? Do you want to increase your revenue? Expand your operations? Enter new markets? Once you have defined your goals, you can start to develop a plan of action.
Conduct Market Research: The next step in developing a growth strategy is to conduct market research. This involves analysing your market and your competition to identify new opportunities and potential challenges. BusinessRiskTV can provide you with market research reports, industry analysis, and other resources to help you better understand your market.
Identify Your Competitive Advantage: To develop a successful growth strategy, you need to identify your competitive advantage. What makes your business unique? What sets you apart from your competition? BusinessRiskTV can help you identify your competitive advantage and develop a plan to leverage it.
Develop a Plan of Action: Once you have defined your goals, conducted market research, and identified your competitive advantage, it’s time to develop a plan of action. This plan should outline the specific steps you will take to achieve your goals, including the resources you will need and the timeline for each step.
Monitor Your Progress: Developing a growth strategy is not a one-time task. It requires ongoing monitoring and evaluation to ensure that you are on track to achieve your goals. BusinessRiskTV can provide you with tools and resources to help you monitor your progress and make adjustments as needed.
Developing a growth strategy is a critical task for any business looking to achieve long-term success. BusinessRiskTV can provide you with the expert advice, tools, and resources you need to develop a growth strategy that works for your business. Whether you are looking to increase your revenue, expand your operations, or enter new markets, BusinessRiskTV can help you achieve your goals and take your business to the next level.
Business Development Sales Growth with BusinessRiskTV
Take the risk or lose the chance to grow faster with BusinessRiskTV
Take The Risk Or Lose The Chance
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Subscribe to BusinessRiskTV.com for freeRisk Appetite and Risk Tolerance
Taking calculated risks is the business of the entrepreneur or business leaders. Taking the right risks will make your business more successful. Taking mo risk is condemning your business to a slow death, at best.
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Take the Risk or Lose the Chance to Be Better in Business
In business, as in life, there are always risks involved. But sometimes, the only way to achieve success is to take a chance.
A ship in the harbour is safe but that’s not what ships are for.
There are many reasons why it’s important to take risks in business. Here are a few:
Risks can lead to innovation. When businesses take risks, they often come up with new and innovative products or services. This can help them to differentiate themselves from their competitors and gain a competitive advantage.
Risks can lead to growth. When businesses expand into new markets or launch new products, they often experience growth. This can lead to increased revenue, profits, and market share.
Risks can lead to learning. When businesses take risks, they often learn from their mistakes. This can help them to improve their products, services, and processes.
Of course, there is also the risk of failure when taking risks in business. But the potential rewards often outweigh the potential risks.
So, if you’re thinking about starting a business or expanding your existing business, don’t be afraid to take some risks. Just make sure you do your research and plan carefully. And be prepared to learn from your mistakes.
Is it better to take the risk or lose the chance?
The answer to this question depends on your individual circumstances and goals. If you’re willing to take a risk and have a good chance of success, then it may be worth it. However, if you’re not willing to take a risk or the chances of success are slim, then it may be better to play it safe.
Why is it important to take risk in business?
There are several reasons why it’s important to take risks in business. Here are a few:
Risk can lead to innovation. Businesses that are willing to take risks are more likely to innovate and come up with new products and services. This can help them to stay ahead of the competition and grow their business.
Risk can lead to growth. Businesses that are willing to take risks are more likely to grow their business. This can be done by expanding into new markets, launching new products, or acquiring other businesses.
Risk can lead to learning. Businesses that are willing to take risks are more likely to learn from their mistakes. This can help them to improve their products, services, and processes.
Is it worth it to take risk business?
Whether or not it’s worth it to take risks in business depends on a number of factors, including the size of the risk, the potential reward, and the likelihood of success.
In general, it’s only worth taking risks that have a good chance of success and that are worth the potential reward. For example, it may not be worth taking a risk on a new product that has a small market potential. However, it may be worth taking a risk on a new product that has a large market potential and that can be produced at a low cost.
What does take risks mean in business?
Taking risks in business means being willing to try new things, even if there is a chance of failure. It means being willing to step outside of your comfort zone and explore new opportunities. It also means being willing to learn from your mistakes and keep moving forward.
Taking risks is not always easy, but it can be very rewarding. When you take risks, you have the potential to achieve great things. You can grow your business, innovate new products, and reach new markets. So, if you’re looking to achieve success in business, don’t be afraid to take some risks.
Here are some tips for taking risks in business:
Do your research. Before you take any risks, make sure you do your research and understand the potential risks and rewards.
Plan carefully. Once you’ve done your research, create a plan for how you’re going to mitigate the risks and maximize the rewards.
Be prepared to fail. Even if you do everything right, there’s always a chance that you’ll fail. Be prepared to learn from your mistakes and move on.
Don’t give up. If you fail, don’t give up. Learn from your mistakes and keep trying.
Taking risks can be scary, but it’s also an essential part of business success. If you’re willing to take some risks, you’ll be well on your way to achieving your goals.
Surely we are not going to swing from fastest economic growth to economic depression?
Business Strategy During Recession
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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
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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
Risk based approach in business management. The benefits of risk-based approach include a better understanding of what is really important for your business success. Assess and manage your business risks better.
Identify the key risks for your business to ensure you know what you need to focus your mind and money on.
Take action to maximise your ability to maintain and boost your business performance.
Monitor your progress towards your business objectives in a systematic way to minimise gaps and protect against changing risk exposure.
Make best use of your limited assets and resources to avoid wasted money and effort.
Develop a flexible business management strategy to better manage the dynamic world of business.
Think more systematically about your business development.
How do you use risk based approach in business
Find out more about free business risk management newsletters and Risk Alerts for your country and industry. Engage with like-minded business leaders to grow your business faster with less uncertainty. Develop your business risk management skills and knowledge with online risk management training courses and workshops.
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Get the best people to help you fix your business problems. Our risk experts hub can help you parachute in help at the right time more affordably for the correct amount of time. Sharpen your competitive edge to help your business succeed. Track the latest risk management information to inform your business decision-making process. Ensure you are not wasting money on poor business options and maximise the return on your available cash.
How can you solve the business problems holding your business back
Identify and clearly define the threats and opportunities impacting on your business objectives. When you understand the issues that could impact on your business you can focus your money and time on the things that matter to your business success or failure.
Pursue the opportunities most likely to help you achieve your business objectives.
Adopt a risk management process which will help you make better business decisions by reducing uncertainty.
Evaluate the solutions to your most important business issues to maximise the return on your investment of time Nd money.
Prioritise your risk management actions to maximise your business protection and seize new business opportunities quicker.
What are common business problems
Uncertainty is not managed cost effectively. Either too much or too little risk is taken in pursuit of business success.
Poor financial management can lead to wasted money reducing chance of success or increasing risk of failure.
Failure to monitor business progress or lack of progress. Know your key performance indicators and monitor them regularly to enable you to take early corrective action. Even the best business plans fail a little when put into practice.
Failure to comply with the rules of your business. Failure to comply can impact on you personally.
Failing to call upon the best people to help you achieve your business objectives could mean your amazing business ideas fail, not because you were mistaken, but due to failure to implement your business plans in best way.
Failing to gather risk information to help you make best business decisions at the right time.
Failing to use best tools plant and equipment may mean you just can’t compete with your competitors cost effectively to survive in business.
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Use your quality images to show buyers and key decision-makers why they should buy from you. Create powerful videos to attract new interest in your products or services. Describe your products or services better to boost your positioning in search engine results and improve your brand presence online.
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Reach new customers.
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Learn how to promote your business better with BusinessRiskTV. Discover the best ways to promote your business.
To get new customers you need to promote your business.
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Use the most popular ways to promote your business but more affordably
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Give us the content you want to use to inform your potential new customers or ask us to create the content for you to attract new customers. Provide the information your audience wants to enable new customers to assess your business offering worth.
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We will create your online store to enable you to sell more online. In addition we will promote your online store with our social media and search engine optimisation SEO.
Create partnerships with other brands and business leaders to build a better online presence for your business. Collaborate to cross-promote for mutual benefit.
Work with a business leader with similar target audience but a complimentary product or service.
List your business with us to grow your business online presence
How to create a professional online presence with BusinessRiskTV
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Expand your customer base to include similar people who are not currently customers. Increase your market share online. Without significantly increasing your effort you put into sales development increase your share of online sales in your country or industry. Our innovative approach to engaging new customers online will grow your profit faster.
How to engage more customers online
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connect with more new people with the inclination and money to buy your products or services now
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Question Answer Online Service. If you do not know the answer, we know someone who does! Get connected to the best people who can help you in your industry or country.
What are the most important questions a business should answer?
Our business experts and business leaders on our experts hub have the answers to your questions. Avoid the pain of making your own mistakes in business. Instead learn the lessons from other peoples mistakes and experiences in business.
It’s okay is you don’t have all the answers
Use risk management experts to help you make right choices
You can’t be expected to know everything you need to know in business. Knowing what you don’t know is the first key step in finding the best best solutions for your business problems.
How to find the answers to your key business risk management questions
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Overcoming Choice Paralysis with BusinessRiskTV Business Experts Hub
Choice paralysis is a consequence of too many choices. Every business leader gets the rewards or penalties they have earned from the choices they make in their business.
There are disadvantages of having too many choices. It is impossible for every choice in front of you to maximise the return in your investment of time and money. We help you to increase the likelihood of success deriving from your business decisions and maximise the size of the benefits coming from your business decisions.
Paralysis can be a consequence of having too many choices
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The benefits of too many choices are that you have before you an amazing opportunity to grow your business faster. We help you to pick the best opportunities and make the best opportunities deliver the best results for your business.
Learn how to deal with choice overload in business
Find ways to grow faster and protect your business better
Contact us to stop procrastinating on decisions now that will define your success in future.
Are you looking to boost your business performance
If your business risk management strategy is to not take risks it is likely that your business will die quickly or slowly, but fail it will. The consequences of not taking risks in business is that your risk control costs will make your business uncompetitive in your marketplace, or you will miss business opportunities to grow faster. The risk of doing nothing is an inevitable death of your business. Intelligently taking more risk can mitigate the risks not working out and boost the return on your investment of time and money in your business. Take a business risk with more confidence with BusinessRiskTV.
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The biggest risk is taking no risk at all
Business leaders have to take risks to survive and prosper in their chosen marketplace. This does not mean business leaders should be reckless. It just means they need to be mindful of the key business risks that do impact on the objectives of the business.
Failing to plan does mean you are planning to fail. However even the best laid business plan can fail when exposed to the vagaries of the business marketplace. Your business risk management plan needs to be flexible and it needs regular reviewing to ensure it is working efficiently.
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The best risks to take are the ones you can direct into your favour. Luck will always play its part in risk taking, but you can take risk with confidence if you have the right risk management process embedded in your business decision-making.
Why taking no risk is the biggest risk
The world of business is changing at an ever faster rate. Children born today will do jobs that have not even been invented yet.
It is often said that me learn more from our mistakes than from our successes. Not taking risks may mean you make fewer mistakes, but you may also miss the opportunities to grow faster from ways you could not have envisaged prior to taking a risk. Taking a known risk, even if you don’t know all the possible outcomes, can teach you something that can drive your business forward faster. Without business risk there is no innovation in business. Being good at taking risks means you can optimise your business performance.
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BusinessRiskTV The Risk Expert service to protect and grow your business faster with less uncertainty. Pick the best risk expert for your country or industry to solve your business problems faster and better.
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What is the most efficient way to manage your potential risk events?
Why is it important that your risk management strategy is dynamic?
Why is your risk management strategy important for your business performance?
If you get your business risk management strategies right you will build in business resilience for any business risk events. If you get your business risk management strategies wrong your business performance may falter at best or your business may suffer fatal catastrophic collapse at worst.
Business risk management strategies for dealing with unpredictable risk events
Is a risk management strategy possible for all your key risk events? Can you predict what will happen to your business in future and therefore prepare your business for all key risk events?
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If you identify all the key threats and opportunities for your business plans you can make the most efficient use of your limited resources to prepare for all risk management actions.
Having a dynamic risk management strategy will meet your future risk management needs
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Dealing with unpredictable future requires dynamic risk assessment process. Your key risk assessments are ongoing not a one-off exercise.
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Inform your business business decision making in an unpredictable business environment with business risk management news opinions and reviews. Learn from business risk management experts and industry leaders during online business risk management workshops. Network with leaders in business to grow and protect your business better. Find a business mentor or partner to support your business growth in uncertain times. Create a dynamic business strategy to seize new business opportunities before your competitors. Ensure your risk management process is able to manage key threats and opportunities optimally.
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Focusing your limited business resources on key business threats maximises your business resilience and minimises risk of business interruption or even catastrophic failure. Fulfill your business targets more easily with better business risk management. Stop wasting time and money on unnecessary business losses. Maximise your profit.
Learn how to cope better with threats to your business plan with BusinessRiskTV
Identify assess and manage the biggest threats to your business.
Can we eliminate threats? Unlikely that most key threats of being in business can be eliminated. However most can be mitigated or minimised. With limited time and money for risk management, we need to focus our resources on threats that will bring greatest return.
How do you change threats to opportunities? During the business risk management process you will realise that not only can you reduce threat from bad risk events but you will identify new ways of doing things that will enable you to seize new business growth opportunities.
What are the threats of a business? The key threats to manage are the ones that could impact on your business objectives. Within the same industry, one business can have different key threats that need to be managed differently from a competitor in same business. Your business risk management plan needs to be bespoke to your business.
How do you deal with opportunities and threats? Your business risk management strategy should encompass both threats and opportunities not just threats to maximise benefit of time and money invested in enterprise risk management methodology.
How to manage threats to your business
We provide a range of risk management services to help inform your business decision making process. From providing business risk management news opinions and risk reviews to business risk management mentoring and training to enterprise risk management audits.
External Threats and Internal Threats To A Business
Some threats come from outside your business. Other business threats come from within. Knowing what you can and cannot control is part of developing the best business risk management strategy for your business. You need to look outwards to the horizon to fully assess external business risk drivers. You need to look deep inside your own business to appropriately and adequately assess the real risks within your business.
What are the major opportunities and threats in your business you can expect to experience
Our business risk management services can be focused on just your industry or your country.
Which of the company’s strengths can be used to take advantage of the identified opportunities
Make sure you make full use of your business strengths to fully exploit your opportunities for faster business growth.
Find out how to identify assess and manage business risks better with BusinessRiskTV
Managing opportunities and risks better with BusinessRiskTV. Business opportunities come with business risks. External and internal risk drivers will impact on business objectives negatively and positively. Controlling business risks and opportunities can secure greater business success and build stronger business resilience. Identify assess and control business risks better with articles and videos on BusinessRiskTV. Monitor business risks to your business objectives to protect and grow your business faster.
What are the risk and opportunities in business
Managing business risks is a critical business issue all business leaders face. However not all business leaders face the same business risks. Similar businesses can have the same business risks but may have different resources deployed in business risk management. Opportunities for business leaders to grow their business fast are always available to you if you look and take the best course of action. Understand the top business risks facing your business with help tips and support from BusinessRiskTV
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
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Taking Risks To Achieve More In Business With BusinessRiskTV
Do not manage your business from the stand point of fear of business risks. Overcoming fear in business starts with improving your ability to inform your decision-making. With less risk information you have more uncertainty. Increased uncertainty increases negative impact on your business objectives.
Success normally comes from taking controlled risks not hunkering down, crossing fingers or hoping it will work out for you
Risk Appetite and Risk Tolerance
Even if you do not seek business risks, they will find you! Risk taking is part and parcel of the job description of business leaders. Most business leaders seek greater rewards from their business. Greater rewards normally come from taking on more risk. Taking on more risk does not automatically mean you need to take on a higher level of risk. If you control the risks you take on the net level of risk can remain the same, but the rewards can be greater.
See The Road Ahead More Clearly With BusinessRiskTV
Learn how to improve your business decision-making capability to boost your business performance
Increase the chance of success in business by improving the quality quantity and speed of your decisions. Improve your decisions by improving the risk information at your disposal and the risk management tools and techniques you use to help you make decisions.
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.
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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
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If people searching for your type of products or services do not find you they will go to your competitors
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There are many ways to improve your business performance. Are you suffering interruptions to your normal business trading ability? Could you be missing opportunities to increase your online sales? Are you really making your existing assets and resources work productively and efficiently?
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Online Exhibition Platform With BusinessRiskTV
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LiveStream Shopping Will Grow Your Business With Help From BusinessRiskTV
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Livestream Shopping enables your new audience explore your offering. Potential new customers will interact through their comments, likes and eCommerce opportunities to sell more online.
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Sell to new customers down the road or to the other side of the world
Make Products Shoppable With Livestream
To make your products or services more shoppable through live streaming in the UK, you can follow these tips:
Showcase the products: Make sure to highlight the key features and benefits of your products during the live stream. Demonstrate how the products can be used and what makes them unique.
Interact with your audience: Encourage your audience to ask questions and engage with them in real-time. This not only helps build trust but also provides valuable insights into what your audience is looking for.
Offer special promotions: Consider offering exclusive deals or discounts to viewers who make a purchase during the live stream. This can create a sense of urgency and drive sales.
Make the process seamless: Ensure that your e-commerce platform is integrated with your live stream so that viewers can easily make a purchase. Make the checkout process smooth and secure to minimise any friction.
Partner with influencers: Consider partnering with influencers or social media personalities who have a large following in the UK. This can help you reach a wider audience and increase brand awareness.
Utilise social media: Promote your live stream on your social media channels and engage with your followers. This can help drive traffic to your live stream and increase the chances of making a sale.
Provide excellent customer service: Make sure to provide excellent customer service during and after the live stream. Respond promptly to any questions or concerns and follow up with customers to ensure they are satisfied with their purchase.
Do not tar Lloyds bank with the same toxic brush of the UK banking industry
People think Lloyds bank is a big bad bank that was part of the financial crisis of 2008. Lloyds bank was in fact one of the hero’s of the financial crisis. Lloyds bank saved the Halifax brand including the Bank Of Scotland whose executives were the real baddies along with the Royal Bank of Scotland now Natwest. By saving the Halifax plc group of bank brands it helped stop the implosion of the UK economy.
If Lloyds bank had not stepped in when it did, Halifax plc group of bank brands would have collapsed and a major domino would have irreparably damaged the UK economy. If we thought it was bad economically with austerity and job losses in UK, without Lloyd’s intervention to takeover Halifax plc it would have been catastrophic. Anarchy on the streets would have resulted and the UK would have entered a period of lifespan that would have been worse than World War 2. We came back economically after Word War 2. If Lloyd’s bank had not stepped in the UK would be more like Venezuela now.
From the financial crisis Lloyds Bank has tried hard to make matters worse including but not limited to PPI scandal where more than £20 billion pounds worth of shareholder value was destroyed. Incompetent greedy executives poorly directed employees to make repeated missteps post financial crisis 2008 to make matters worse. Added to this Lloyds bank has had to manage the risks from external sources including Brexit and Covid-19 pandemic.
However Lloyds bank is now very far from the perceived bad bank it had become. Prior to the 2008 financial crisis Lloyds bank was a boring bank. Investors loved the fact it was a traditional boring bank. It’s share price was £6 plus and it paid out relatively gigantic dividends every year to support pension funds, pensioners and other investors. Lloyds bank had no choice but to take over basket case Halifax plc. If Lloyds bank did not takeover Halifax plc basket of bank brands it is likely that Lloyd’s bank would have collapsed due to the domino effect. As Halifax plc and Royal Bank of Scotland folded they would have swamped the position of Lloyds bank as the UK economy went into a nosedive it is unlikely to have recovered from for many decades, if ever.
The only positive for Lloyds bank’s takeover of Halifax plc bank brands is that in all other circumstances Lloyds bank would never have been allowed to takeover Halifax plc by the UK competition authorities. Lloyds would have become too powerful in the marketplace. As it is, the only real risk to Lloyds bank is that it could be broken up as it is too dominant in for example the mortgage market.
Lloyds is the biggest player in the UK mortgage market. In a marketplace where the UK housing market is booming a share price of less than £0.45 is a joke!
Lloyds bank has come through the PPI scandal. Having destroyed shareholder value in the past, the laws have been changed to largely cap any future payouts under the PPI heading.
Brexit has now happened. Whether this is good or bad for the UK economy depends on which half of the UK adult population stand on Brexit. What is perhaps clear is that if it is going to impact negatively on the UK business community it is not going to be catastrophic. It may even been hugely beneficial to UK businesses. Lloyds bank will not be significantly impacted negatively by Brexit and may be impacted on the positive side.
The Covid-19 pandemic is far from over. However the UK vaccination programme and its likely adaptation to combat virus variations means the UK economy is now through the worst. The only question is how good will the future be? Lloyds bank can easily navigate the future risks if, as it has done, navigated the worst of the pandemic in the UK.
Another enterprise risk management article looks at the UK economy as a whole in the spring of 2021. Essentially most things point to exceptional UK economic growth through 2021 and 2022. Lloyds bank is perhaps uniquely placed to take advantage of any such economic growth. Its strategy is based on making money from UK consumer and UK business confidence and growth, both of which are at record all time highs.
If interest rates rise it will give all banks more opportunities to be profitable. With UK interest rate at record low of 0.1 percent banks will win from interest rate rises. Interest rates are not going to go negative.
Unemployment in UK is a key threat to UK banks. However many predict the UK unemployment is not going to be any way near as bad as was feared due to pandemic. Indeed if the vaccination roll out continues as hoped, unemployment rates are likely to be slightly above pre-pandemic levels. Certainly not at levels that would threaten Lloyds bank profit.
Lloyds bank has comparatively high profit margin compared to many UK banks so is more protected from downside risks.
UK consumers have paid off debt and saved more during the pandemic. When their spending power is fully unleashed on the UK economy post June 2021 the UK is going to see an economic growth not experienced since post World War 2 period. Lloyds bank is ideally placed via mortgage and non-mortgage lending to take advantage of this revitalisation of UK economy.
Lloyds bank was never the bad bank. It had to takeover the greedy and incompetent at Halifax plc. During that process it has had to manage internal and external risk drivers. It is likely that Lloyds bank’s worst days are behind it. Lloyds bank would have to work really hard to screw up its current opportunities for exponential growth.
Understanding holistic risk management including reputation, technology and insurance in managing business risks
Tesla CEO Elon Musk said in January 2021 that he anticipates huge profits from Tesla Full Self-Driving Software which he thinks is more reliable than human beings driving. Two men have died after a 2019 Tesla Model S, which is believed to be operating without anyone in driver’s seat, crashed on 17th April 2021 killing both occupants. One was believed to have been in passenger seat in front, and the other in one of rear car seats. “There was no one in the driver’s seat, ” Sgt Umanzor of the Harris County Constable Precinct 4 said.
USA auto safety agency reported in March 2021 it was investigating 27 accidents involving Tesla vehicles. Tesla self driving technology is a unique selling point that is critical to the success or failure of Tesla business model.
Seize the new business opportunities. Mitigate the technology risks potentially threatening your business.
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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.
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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.
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Guidance On Enterprise Risk Management On BusinessRiskTV
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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.
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