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
Reach out to new customers online today tomorrow and more sustainably with more affordable business marketing and advertising strategies.
Subscribe to BusinessRiskTV for free to receive alerts on latest business risk analysis and ways to manage risks better
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.
Celebrate Your Online Business Growth With Pro Risk Manager
Strategic Decision Making For Business
How to make better strategic decisions for your business if you are business leader
Maximise Your Business Success: Proven Strategies for Better Strategic Decision-Making for Business Leader
Making better strategic decisions for your business can be challenging, but it is essential for its success. Business leaders play a crucial role in creating and executing strategies that drive growth, competitiveness, and profitability. Here are a few tips to help you make better strategic decisions for your business:
Start with a clear vision: Having a clear vision of where your business is headed is critical. It helps you set your priorities and make decisions that align with your goals. Make sure your vision is realistic, achievable, and inspiring.
Gather data and insights: Gather data on your market, customers, competitors, and your own performance to inform your decision-making. Use tools like market research, customer surveys, and data analytics to get insights into the trends and patterns affecting your business.
Consider multiple options: Don’t limit yourself to a single strategy. Instead, consider multiple options and weigh their pros and cons. Encourage your team to bring new ideas to the table and consider them seriously.
Seek feedback from key stakeholders: Before finalizing a decision, seek feedback from key stakeholders, including employees, customers, partners, and suppliers. Their input can help you make informed decisions that take into account the perspectives of those who are affected by them.
Create contingency plans: Anticipate potential risks and prepare contingency plans to minimize their impact. This helps you mitigate risks and be prepared for any eventualities that may arise.
Stay flexible: The business environment is constantly changing, so be prepared to adjust your strategy if necessary. Stay open-minded, monitor the situation closely, and be ready to pivot when circumstances require it.
Communicate effectively: Effective communication is critical to the success of any strategy. Ensure that everyone understands the strategy and their role in executing it. Regularly communicate progress, changes, and updates to keep everyone informed and engaged.
In conclusion, making better strategic decisions for your business requires a combination of vision, data, collaboration, contingency planning, flexibility, and effective communication. As a business leader, it’s up to you to set the tone and lead by example in making informed, strategic decisions that drive your business forward.
Maximise Your Business Success: Proven Strategies for Better Strategic Decision-Making for Business Leader
Stop looking to reduce risk and instead make your business plans under a risk-based approach to business decision making with BusinessRiskTV
How can business leaders change business performance with a more risk based approach to business management?
Are you interested in boosting your business performance? Do you use online resources to improve your knowledge of business risks impacting on your business objectives? Do you want to make your business more profitable?
Look at risk as a positive for your business. Manage the threats better. Seize new business development opportunities quicker and enhance the benefits arising from risk taking.
Risk Profile v Risk Appetite – Risk tolerance vs risk appetite is important to understand. If you do not know what your risk profile is you cannot manage your business risks better. Could you increase your appetite for risk to achieve more business success? What is your risk tolerance?
How To Grow Business Faster Business Tips – Grow business faster with BusinessRiskTV. Use practical business growth tips. Thing how do I grow my business fast? Need how to grow business tips. Use latest business tips and marketing tools. Our business growth experts work with our Online Selling Partners providing tips for business growth. Learn how to grow your business fast with BusinessRiskTV. Pick up tips on how to grow business faster. Connect with our business growth experts and partners. Save money and time to become more profitable and other latest business tips from BusinessRiskTV.
iso 31010 Risk Management and Risk Assessment Techniques Guidance – Do you know where to focus our resources to protect and grow your business? iso 31010 risk assessment tools and techniques can help you identify assess and control critical risks to your business. Understand your business risks better with iso 31010 risk assessment awareness. Mitigating Threats Maximising Returns From Business Opportunities
Understanding and Managing Risk Better – A better way to manage business enterprise risk. Risk management courses distance learning. Develop better business risk management plan. Discover best enterprise risk management online training courses for your needs. Risk management courses UK and overseas. Join like minded senior managers executives and risk management practitioners. Learn how to manage business enterprise risk management risks better. Save money and time with BusinessRiskTV. Search for tips on developing your improved business risk management plan.
Get In Touch
Are you interested in growing your business faster? Do you use the internet to attract new customers. Do you want to sell more online? Do you want us to help your business grow faster online?
Submit a question. Share your views and experiences. Please include a contact number if you are willing to speak to us. You can get in touch in the following ways:
Guidance On Enterprise Risk Management On BusinessRiskTV
Do you want your business to be bigger or more profitable?
ERM Framework Implementation
Enterprise Risk Management (ERM) is the process of identifying, assessing, prioritising, and managing risks that could affect an organisation’s ability to achieve its objectives. In today’s fast-paced business environment, organizations face numerous risks, such as financial, operational, strategic, regulatory, reputational, and cybersecurity. The failure to manage these risks could lead to severe consequences, such as financial loss, legal liability, damage to reputation, and even business failure.
Therefore, it’s critical for organizations to implement a robust ERM framework to identify and mitigate risks that could potentially harm the organization. In this article, we will provide guidance on how organisations can implement an effective ERM framework to manage risks.
Establishing an ERM framework The first step in implementing ERM is to establish a framework that outlines the organisation’s risk management policies, procedures, and practices. The framework should define the roles and responsibilities of the risk management team, establish risk assessment methodologies, and identify the key risk indicators (KRIs) that will be used to monitor risks.
The ERM framework should also identify the organisation’s risk appetite, which refers to the level of risk that the organisation is willing to accept in pursuit of its objectives. The risk appetite should be clearly defined and communicated to all stakeholders, including employees, investors, customers, and regulators.
The ERM framework should be aligned with the organisation’s strategic objectives, and the risk management team should work closely with the senior management team to ensure that risk management is integrated into the organisation’s decision-making process.
Conducting a risk assessment The next step in implementing ERM is to conduct a risk assessment, which involves identifying, analysing, and evaluating risks that could potentially harm the organisation. The risk assessment should be based on a systematic and comprehensive approach that considers all the potential risks that the organisation faces.
The risk assessment should consider both internal and external factors that could affect the organisation’s ability to achieve its objectives. Internal factors include the organisation’s culture, structure, processes, and people, while external factors include economic, political, technological, and regulatory factors.
The risk assessment should also consider the likelihood and impact of each risk and prioritise them based on their significance. The risk assessment should be updated periodically to ensure that new risks are identified and managed.
Developing a risk management plan Once the risks have been identified and prioritised, the next step is to develop a risk management plan that outlines the actions that will be taken to manage each risk. The risk management plan should consider the risk appetite of the organisation and the resources that are available to manage the risks.
The risk management plan should include specific measures to mitigate each risk, such as risk avoidance, risk reduction, risk transfer, and risk acceptance. Risk avoidance involves eliminating the risk altogether, while risk reduction involves implementing measures to reduce the likelihood or impact of the risk. Risk transfer involves transferring the risk to another party, such as an insurance company, while risk acceptance involves accepting the risk and managing it within the organisation’s risk appetite.
The risk management plan should also identify the stakeholders who will be responsible for managing each risk and the KRIs that will be used to monitor the risks. The risk management plan should be reviewed periodically to ensure that it remains effective and relevant.
Implementing risk management controls The next step in implementing ERM is to implement risk management controls to manage the risks. Risk management controls are the policies, procedures, and practices that are implemented to manage the risks identified in the risk assessment.
Risk management controls should be designed to ensure that the organisation operates within its risk appetite and that the risks are managed effectively. Risk management controls should be integrated into the organisation’s processes and systems to ensure that they are followed consistently.
Monitoring and reporting on risks The final step in implementing ERM is to monitor and report on risks. Monitoring involves tracking the effectiveness of the risk management controls and the KRIs that were identified in the risk management plan. The monitoring process should be designed to detect any changes in the risk environment and to ensure that the risk management controls remain effective.
Reporting involves communicating the results of the risk management process to stakeholders, such as the board of directors, senior management, investors, customers, and regulators. The reporting should provide an accurate and comprehensive view of the organisation’s risk exposure and the effectiveness of the risk management controls.
Reporting should also include any significant changes in the risk environment and any emerging risks that could potentially impact the organisation. Reporting should be timely, accurate, and relevant to ensure that stakeholders have the information they need to make informed decisions.
ERM is a critical process that organisations must implement to manage the risks they face. ERM involves identifying, assessing, prioritising, and managing risks that could potentially harm the organisation.
To implement an effective ERM framework, organizations must establish a framework that outlines the risk management policies, procedures, and practices. They must conduct a comprehensive risk assessment that considers all the potential risks that the organisation faces and prioritise them based on their significance.
They must develop a risk management plan that outlines the actions that will be taken to manage each risk and implement risk management controls to manage the risks. Finally, they must monitor and report on risks to ensure that the risk management process remains effective and relevant.
By implementing an effective ERM framework, organisations can mitigate the risks they face and achieve their objectives in a safe and sustainable manner. The ERM framework should be reviewed and updated periodically to ensure that it remains effective and relevant to the changing risk environment.
Sign up for our introduction to international trade risk analysis assessment and management with help of BusinessRiskTV and its risk expert network
Risk Management Toolbox Talk Exploring Barriers To And Opportunities From International Trade
What could cause the opening or closing international trade marketplace? The closing or opening of international trade to your business is perhaps at a recent high level of uncertainty. What elements of international trade threaten your business? What events could open up new opportunities to your business? How do you manage the risks better? Mitigate the threats impacting on your business success. Enhance the beneficial outcomes for your business of international trade.
Online workshop is an introduction to BusinessRiskTV online risk management service to help business leaders make key business decisions to manage threats and opportunities better.
The opening or closing of international marketplace to all who wish to participate is a moving feast. Changes in threats and opportunities can arise based on sudden economic, geopolitical and technology risks in particular.
Managing risks from international trade may be limited to mitigating threats, or harnessing and enhancing the benefits from international trade. It may be impossible to influence whether risk events occur or not. However, exploring the threats and opportunities may be critical to your business success.
Being the first mover may be just as important. The first businesses to act tend to carry the greatest risks and rewards. If you are to act first you may need help from risk experts to improve your business intelligence and international trade risk knowledge.
Benefits include:
Limiting losses
Maximising sales profit
Grow faster with less uncertainty
Opening the enterprise risk management process of identifying analysing and assessing to international trade risks. Working on overcoming international trade barriers. Exploring a risk profile of a company and international trade risks. Developing an enterprise risk management implementation road map to stronger business resilience and expansion. Starting to understand how to overcome trade barriers including supply chain risk management. Identifying solutions to international trade problems. Opening the door to further risk workshops with an introduction to international trade risk awareness training and enterprise-wide risk management solutions.
Pay below via Paypal to secure your place on our online risk management workshop.
Who should attend?
Business leaders, business owners, executives and senior managers as well as risk professionals.
How to attend online risk management toolbox talk on
Title:
Uncertainty of international trade expanding or contracting
In this this essential risk management toolbox talk we will cover the key international trade risks potentially impacting on your business including:
Geopolitical Risks
Global Economy Risks
Technology Risks
Save the date for an insight into international trade risk management
Pay fee online via secure third party payment service Paypal who do not inform us of your full account details. We will email you the Zoom video conferencing joining instructions no later than 24 hours before the workshop begins.
As a special offer you will be able to redeem your non-member payment of £20 against your first year’s subscription fee for BusinessRiskTV Pro Risk Manager for 12 months. Membership of BusinessRiskTV opens up Pro Risk Manager service benefits include huge discounts off products and services such as further training, online business coaching and advertising costs. BusinessRiskTV membership provides opportunity to continue corporate risk analysis, assessment and management business intelligence as well as option to collaborate with global risk management experts to improve your ability to manage your business better.
Post introductory online risk management toolbox talk on 15th January 2021, members and non-members of BusinessRiskTV will also be given opportunity to collaborate in future online advanced workshop sessions. These sessions will further explore how business leaders around the world can collaborate specifically on overcoming barriers to international trade, both theory and practice. These advanced workshops sessions will aim to increase international trade by participants. Workshop participants will share expert knowledge and practical business development tools. The introductory online fee will be used to reduce the cost of more advanced sessions by participants.
Participants at introductory online risk management toolbox talk can also put themselves forward as international trade risk experts at future more advanced online workshop events to share your expert knowledge and promote their business interests. Get in touch with us if this is you.
Better manage the risks of selling internationally
Overcoming Asia International Trade Barriers With BusinessRiskTV.com
Asia Risk Report
Sign up for Asia Risk Assessment Coaching. Asia trading risk assessment will help identify best business opportunities in Asia. Understand the business risks in Asia. Manage the risks of doing business in Asia more effectively. Asia untapped business potential can be tapped. Overcome challenges of doing business Asia. Analyse the future of Asia economy. Complete your assessment of doing more business in Asia to grow your business with less uncertainty.
There are many challenges of doing business in Asia, including:
Different languages and cultures: Asia is a vast and diverse continent with many different languages and cultures. This can make it difficult to understand the local market and to communicate effectively with local partners and customers.
Different business practices: Asia also has different business practices, which can be difficult to adapt to. For example, in some countries, it is important to build relationships with key decision-makers before doing business.
Different regulations: Asia also has different regulations, which can make it difficult to comply with local laws and regulations. For example, in some countries, there are restrictions on foreign investment.
Competition from local businesses: Asia is a very competitive market, with many local businesses competing with foreign companies. This can make it difficult to establish a successful business in Asia.
There are a number of ways to overcome these challenges, including:
Hire local staff: One way to overcome the challenge of different languages and cultures is to hire local staff. This will help you to understand the local market and to communicate effectively with local partners and customers.
Learn about local business practices: Another way to overcome the challenge of different business practices is to learn about local business practices. This will help you to adapt to the local market and to do business effectively in Asia.
Get legal advice: It is important to get legal advice before doing business in Asia. This will help you to understand the local regulations and to comply with local laws and regulations.
Partner with a local business: Partnering with a local business is a good way to overcome the challenge of competition from local businesses. This will help you to establish a successful business in Asia.
There are also a number of latest solutions that can help you to overcome the challenges of doing business in Asia, including:
Cloud-based solutions: Cloud-based solutions can help you to overcome the challenge of different languages and cultures. This is because cloud-based solutions can be accessed from anywhere in the world.
Social media: Social media can help you to overcome the challenge of different business practices. This is because social media can help you to build relationships with key decision-makers and to communicate effectively with local partners and customers.
Mobile apps: Mobile apps can help you to overcome the challenge of different regulations. This is because mobile apps can help you to comply with local laws and regulations.
Artificial intelligence: Artificial intelligence can help you to overcome the challenge of competition from local businesses. This is because artificial intelligence can help you to identify new opportunities and to develop new products and services.
Find a group of like minded business leaders and meet up in person or online to grow you business faster with BusinessRiskTV.com
How can business leaders be more creative and innovative to better protect Andrew their business
Entrepreneur meetup. Business management experts. Entrepreneurs and business leaders meeting up to explore mutual business growth with BusinessRiskTV. Engage potential customers and develop quality prospects. Focus your resources on what matters to your business survival and growth. Increase your revenue and grow your business faster.
Get help support and advice from our risk management experts with BusinessRiskTV
Fill your sales pipeline tomorrow
Grow your business regardless of the current business environment. Get in touch now!
Online networking groups
Wherever your business is based and whatever your industry find the right forum to protect and grow your business with less uncertainty with BusinessRiskTV.
We can help you with our services and we can connect you with other ambitious business leaders who want to prosper not matter what the global economic outlook is.
Use our business club and business networks to reach more potential new customers. Sell more online using our eCommerce solutions. Stay in control of the future of your business. We help your local business to grow locally and globally.
Entrepreneurs and business leaders meet new people and build your business connections to increase opportunities to increase revenue and profit. Explore mutually beneficial relationship to grow your business faster.
BusinessRiskTV
Find what you need quicker and cheaper:
Find a mentor to guide you through a tricky patch in business or overcome major barriers to business growth.
Pick up business tips to move forward more rapidly and within your risk tolerance.
Discover innovative ways for continuous sustainable business growth in dynamic business marketplace.
If we cannot help you we will facilitate you finding the answers you need from other entrepreneurs and business leaders.
Example of group of like minded individuals exploring business protection and growth with less uncertainty
Ask to join Risk Management Online for free now.
Subscribe to BusinessRiskTV for free alerts bulletins and risk reviews to your inbox
Alternative business risk management news articles on BusinessRiskTV.com
Latest Business Financial Market and Economic News and Risk Analysis
Risk Management news articles live online. Our risk management experts guides and risk analysis for UK and worldwide. Access the latest business news opinions and reviews for free. Network with top business leaders to increase your risk knowledge and business intelligence.
Read about other peoples experiences and opinions of the past present and future of business in the UK. Find out more about the business risks around the world in English.
Our business reviews look back at the past with a view of learning the lessons for better future. Make better business decisions now to make tomorrow in business better.
Why BusinessRiskTV.com is a Valuable Resource for Business Owners
Now that you know how to get business news alerts on BusinessRiskTV.com, let’s take a closer look at why this site is such a valuable resource for business owners.
Comprehensive Coverage of Industries: BusinessRiskTV.com covers a wide range of industries, from finance and technology to healthcare and more. This makes it a valuable resource for business owners in any industry who want to stay informed about the latest news and trends.
Timely and Reliable Information: BusinessRiskTV.com is known for its timely and reliable information. The site has a team of expert reporters who work to deliver breaking news and analysis as it happens, so you can be the first to know about important developments in your industry.
Customizable Alerts: BusinessRiskTV.com offers customizable alerts, so you can choose the types of news and information you want to receive. This ensures that you’re only getting alerts that are relevant to your business and industry.
In-Depth Analysis: In addition to breaking news alerts, BusinessRiskTV.com also offers in-depth analysis and commentary on the latest developments in various industries. This analysis can help you gain a deeper understanding of the trends and issues impacting your business.
Free to Use: BusinessRiskTV.com is a free resource for business owners. There are no fees or subscriptions required to access the site’s news and information, making it an accessible resource for businesses of all sizes.
In today’s fast-paced business environment, staying informed about the latest news and trends in your industry is essential. By getting business news alerts on BusinessRiskTV.com, you can stay up-to-date on breaking news, market trends, and other important developments that could impact your business.
BusinessRiskTV.com offers comprehensive coverage of a wide range of industries, with timely and reliable information delivered through customizable alerts. The site also offers in-depth analysis and commentary to help you gain a deeper understanding of the trends and issues impacting your business.
Best of all, BusinessRiskTV.com is a free resource for business owners. So if you’re looking for a reliable and valuable source of business news and information, be sure to check out BusinessRiskTV.com today.
Not only can you improve your risk management capability but you can increase confidence in your risk management system.
Are you asking the right questions about the key threats to you business? Do you consistently look out for and review business opportunities for growth? If you do not have a risk management system in place your business decision making may be working but is it working well?
What is your appetite for risk? Is this reflected across the whole organisation. Your risk management culture should reflect the attitude to risk of its business leaders for a consistent approach that is less confusing or contradictory further down the organisation. If you are not all singing from same hymn sheet you are losing productivity. In addition you maybe taking too much risk or not enough risk to achieve your business objectives.
Everybody should be clear about their role in your risk management framework and risk assessment process. Lack of clarity produces gaps through which failure in your risk management system can squeeze!
Everyone should be rewarded based on achievement of risk management plan. If your risk management plan has been correctly drafted and embedded it will bring business success. Your risk management plan should be to achieve business objectives set with enterprise risk management methodology. A holistic approach to business decision will produce greater resilience and longer term sustainable success.
Understand that your risk assessment process has weaknesses. Peoples perceptions of risk can skew risk management actions inappropriately. This can result in the failure of your risk management system and business.
Enterprise risk management ERM creates a clear picture of where you are now and plans to get you to where you want to be. However everyone needs to engage in the process for it to work optimally. It is to be present in strategic operational and project risk management.
Build more confidence in your ability to implement a better risk management system
Risk management can help profitability enhance all stakeholder confidence and protect your brand and reputation. Create the environment for more effective business outcomes and greater profitability.
If you improve your confidence in your risk management system you can actually take more risks to achieve more in business.
BusinessRiskTV
Increase your risk knowledge and business intelligence. Change your perspective of risks and risk management. Redefine what is acceptable risks without breaching your risk tolerance. If you are not confident in your risk management capability it is hard for the business and business leaders to perform well.
Decide how best to manage risks in your business. Build your colleagues confidence with training and support from BusinessRiskTV. Find out more by completing and submitting the form below and enter code #Confidence.
Read articles and watch videostream on building business management confidence trending on BusinessRiskTV
Develop new business projects with more confidence in your success with BusinessRiskTV business risk consulting and training services and risk management partners entering code #BusinessConfidenceForum
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new buyers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE for more information.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Making the most of unexpected disasters. Make the most of disasters. No one asks for a disaster to hit their business but when one comes along look for the opportunities that come with it. If you do this as part of business continuity planning you can come out of the disaster quicker stronger and more resilient.
How to reduce uncertainty in business with BusinessRiskTV
Want to read watch videos and speak to experts who can help protect and grow your business through all types of business environment?
Our Knowledge Marketplace, Business Experts Hub and risk management experts:
Write risk management articles to inform your decision-making
Produce videos and host live online events, training and workshops to develop your risk management knowledge and skills
Offer risk management consulting services to help you overcome business problems.
Â
A disaster can be an opportunity to grow if you change your mindset
To come out the other side of major risk event stronger includes being ready to seize new business opportunities as well as mitigate downside risk impact.
You may be able to bring forward future planning as result of risk event. If you have a major fire then do not just build what you had before. Bring forward better ways of working that you may have planned for 5 years time prior to risk event.
Competitors who are not resilient as your business may not survive crisis. This may allow you to change pricing or provide opportunity to introduce new marketing campaign to mop up their customers.
You products or services may simply be more in demand after the crisis than before it. Attitudes of business buyers and consumers will change during and after the crisis. Your business maybe well positioned to take advantage of change of attitude to sell more and grow your business faster.
There is nothing morally bad about making the most of a bad situation. If you survive a crisis you have the right to explore a new way of working that will benefit both your business consumers and society.
Many great inventions or innovations have been introduced and transformed life and business due to mistakes. Some new drugs and products were discovered when the inventor or developer was trying to achieve something totally different from what transpired as brilliance.
Necessity is the mother of invention
When forced into an existential situation it is human nature to fight to survive. There will always be risk events that threaten survival in business. Sometimes they risk event may be located on one business. On rare occasions a risk event threats whole business systems of working.
Around every 10 years business leaders should expect a financial crisis that threatens business survival. It is almost impossible to know how the financial crisis will arise. The cause of the risk event that creates the crisis is less important than the resilience to overcome the impact on your business.
Th last financial crisis was 2008. May countries in Europe have still not recovered from the 2008 financial crisis never mind businesses.
If you are in business for the long haul then you need to be prepared for at least one financial crisis every 10 years. In between you need to be ready for your own individual crisis’s that pop up just for your business.
Learning opportunities from a crisis
Major risk events are perhaps alarmingly more frequent than one expects. Rather than being overly alarmed maybe the best thing to do is learn from risk events. Take the good from the bad to improve future business performance.
Do not press the panic button
We can also learn from other businesses who make mistakes on our behalf! If they suffer find out what they did wrong learn from their mistakes and make sure your business does not suffer the same consequences.
More than that find out what lessons other business leaders have learned from their past mistakes or negative risk events
Sharing bad experiences allows the herd to be better protected! Sharing successes helps the herd to join in on the success for faster growth and speedier progress.
Power Of Collaboration In Business Development
Subscribe to BusinessRiskTV for free alerts bulletins and risk reviews to your inbox to better protect and grow your business
Taking the right risks for greater success with BusinessRiskTV.com
Identifying and managing business risks
How can a business identify risk and manage business resources to manage business risks better? Undertake risk profile analysis to inform your business decision making. Practical enterprise risk management ERM tips advice training and consultancy.
Many risk events are possible. However how do you manage your resources cost effectively to control risks whilst boosting business performance?
When beginning the risk management process identify risks that could impact on your business objectives. Look at the whole business at once rather than individual silos functions or departments.
Do not make assumptions at the beginning about the level of risk or effectiveness of risk control measures. Assume that what you currently do risk management wise will not work or not work well enough to control risks.
Consult experts within your business at all levels and experts outside of your business who may have an understanding of your risks. Focus your attention on key internal and external drivers of risk that may have significant impact on your business objectives.
Your business risk exposure needs to be right for your risk management culture. What is your appetite for risk? How much risk can your business tolerate? Getting the balance right is key for sustainable business success.
Reduce or eliminate threats as soon as they appear on the horizon. Seize new business opportunities before your competitors do. Anticipate and plan for future risks. React quickly to current or unexpected risk events.
Risk analysis and Holistic Enterprise Wide Risk Management Approach Will Improve Your Business Decision Making To Boost Business Performance
Manage risks better. Minimise the impact of risk on your business plans. Manage potential problems easier quicker and less expensively. Stop the undermining of key business initiatives or projects by risk events. Explore possible future threats.
Identify business opportunities for growth. Back the best ones to maximise return in investment of time and money. Boost the profit from the best new ideas. Manage opportunities for greater success better.
Create the right risk management framework and enterprise wide risk assessment process for your business
The source of your business risks can be wide and varied. Often they are specific to your business. Sometimes the affect just your industry or geographic location. Occasionally they affect most of the world like the financial crisis of 2008 or global pandemic like 2020.
The impact on your business maybe life giving like if your business is a deep cleaning business or face mask manufacturer in coronavirus outbreak. Or risk events can destroy your business and it may never recover. Your risk management assessment and approach to risk control needs to be tailored to your business.
Not all risks are bad and bad risk events can be good for your specific business in so many different ways. For example the coronavirus tragically will kill thousands of people. In addition many businesses will fail including many of your competitors. Out of the flames the phoenixes will rise. The challenge is to make sure your business and your people survive and prosper no matter what risks are thrown at your business.
Put your great ideas into action with more confidence. Continue to be optimistic about your future. The way your business could and perhaps should change forever not just to get through coronavirus. Learn the lessons from horrifically tragic risk events. Seize the opportunities coming from the 4th industrial revolution. Survive and prosper today tomorrow and then next day no matter what risks you face no matter where you do business and no matter what industry you are in.
Some risks hit you like a ton of bricks. Other risks are more subtle. They creep up on you. You do not know that you are at risk until it can be too late. Enterprise wide risk management means continuous tweaking and adjustment. What is right today may not work tomorrow. The key is to review what has happened but keep your eye on the horizon to ensure you are prepared. Whether you produce the risks internally or have external risks imposed upon your business know what to do when to do it and get to where you want to be regardless.
Subscribe to BusinessRiskTV for free risk management alerts bulletins and reviews to your email inbox to help you prepare for your future in business
Sign up to BusinessRiskTV newsletter or follow us via your favourite social media account
Read articles and watch videostream on taking calculated risks trending on BusinessRiskTV
Risk Appetite and Risk Tolerance
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit
Increase the sources of your new income streams more sustainably. Grow your business faster with BusinessRiskTV.
Harness more knowledge to improve your life and business with BusinessRiskTV.com
Our knowledge marketplace is for both buyers and sellers. If you are an expert who can help solve life and business problems. Sell in our knowledge market. Sell your personal knowledge. Sell better business answers to buyers who need quick ways to overcome barriers to business success. We are building networks of business leaders entrepreneurs and life coaches who create a knowledge hub for you to find the answer to your questions quickly.
Identify what our experts know and what you need to know to overcome problems quicker. Connect with lifestyle and business experts live online. In many cases access free initial consultation to find out if our experts can help you.
Knowledge is key to improving your personal and business decisions. Sell and distribute your business or lifestyle improvement knowledge to people who are stuck and in a hurry to overcome problems.
The Knowledge Marketplace
Global Risk Report Discussion Analysis and Review On BusinessRiskTV
Visiters to BusinessRiskTV can ask questions to get better answers quicker
We have a range of forums to get the answers you need to improve your life or business quicker. Some are free others attract a fee. You have to be a member of BusinessRiskTV to ask a question. Membership is free.
Making a market in knowledge in our online knowledge market
Working with our Knowledge Partners we make it easier to make better decisions in life and in business. Our Knowledge Partners include entrepreneurs business owners executives risk professionals and life coaches who are seeking to connect with more potential clients.
If you have lifestyle improvement or business expertise to help others overcome problems become a Knowledge Partner. You will be a business expert or lifestyle enhancer.
How to promote your business online with BusinessRiskTV.com
Discover cheap ways to promote your business. Market your business online with BusinessRiskTV. Take your business to the next level. Explore our marketing tools and resources. Create a cost effective marketing and advertising strategy for your business.
Marketing For Small Business UK To Grow Into Large Business
Ways To Advertise
Achieve your marketing goals.
Build brand awareness
Engage people who are already interested in you type of business
Drive new business growth with new online sales or generate more leads.lead gen network. Reach decision makers. 2x higher engagement.
Reach key business makers and sell more to them. Connect with more consumers online.
Contribute your opinions in blog posts which impress our readers and drive new enquiries to your business. Your amazing content or copy will help us both grow faster.
Use your videos or ask us to create a marketing video for you to showcase your products or services.
Our popular social media tools can connect you with many key decision makers interested in the solution your business provides to its customers.
Our highly visible online presence regularly gets to the top of search engines and your business can be right there too.
Write advertising advertorials that provide a solution to a business or personal problem and attract new customers.
Send your Press Releases to us to spread the word about your business.
Join our various online communities to network with like minded people and share your business knowledge and business intelligence.
Send us images diagrams and documents to attract greater interest in your business offerings.
Grow your own email marketing list to keep in touch with people who have contacted you via us.
Contribute an article to our various magazines that align with your business products or services.
Attend our online networking events to connect with people who can help your business grow faster with less uncertainty.
Sponsor our various online virtual marketplaces exhibitions and magazines to build your brand awareness with people who are interested in what you have to offer.
List your business in one of our online business directories.
Post a classified ad on BusinessRiskTV.
Become one of our business experts and influencer to help solve business and personal problems quicker.
We even have ways to promote your business online for free. There are other ways can market your business on a small budget. Focus your marketing budget for more profitable return on marketing expenditure.
Market your business online with a cost effective marketing campaign that is profitable to your business. Scale up what works for your business. Grow your reputation online.
Finding a better way to manage business challenges with BusinessRiskTV.com
Inspiring Leadership To Strive To Achieve More In Business
And there are always opportunities to grow a business faster too. There are always leadership challenges regardless of era in business. Improve management of the biggest issues facing the business world today.
Learn how to overcome leadership challenges. Being a successful business leader means there will always be challenges. The business problems will change but it is naive to thing that your challenges are more difficult than the challenges other leaders have overcome in the past.
In the UK the biggest issues combined that impact on future business success is poor productivity and lack of skills. UK business leader must invest in capital assets including automation or machinery as well as people. Workers in the UK need dramatic upskilling. There has been a distinct lack of investment over the last decade that needs redressing over the next decade. Instead of whinging about lack of immigration UK business leaders need to be more innovative and invest in engaging existing workforce more.
We can achieve so much more than we are currently doing. There is a significant lack of investment in innovation and new ideas to overcome business challenges. Perhaps it is a hangover from the slow recovery from the 2008 financial crisis. Business leaders have thought about survival for so long that it has suppressed a more creative and innovative business world.
BusinessRiskTV
We need to change our business thinking. Invest in innovative thought processes to discover new ways of overcoming business problems in front of us.
Deutsche Bank currency guru says it’s ‘time to sell the dollar’ as greenback sees longest losing streak since 2021
The dollar has been on a losing streak in recent weeks, and a top currency strategist at Deutsche Bank is betting that the trend will continue.
George Saravelos, global co-head of FX research at Deutsche Bank, said in a note to clients on Thursday that he’s once again betting that the dollar will weaken against the euro, Japanese yen, British pound, and other major currencies.
“We believe that the dollar’s recent weakness is more than just a temporary correction,” Saravelos said. “We see a number of factors that are likely to keep the dollar under pressure in the coming months.”
One of the factors that Saravelos is pointing to is the Federal Reserve’s plans to raise interest rates. The Fed is expected to raise rates several times this year in an effort to combat inflation. However, Saravelos believes that the Fed’s rate hikes will be less effective than they have been in the past because the global economy is now in a different phase.
“The global economy is no longer in a synchronised growth upswing,” Saravelos said. “This means that the Fed’s rate hikes are likely to have a more muted impact on economic activity and inflation than they would have in the past.”
Another factor that Saravelos is pointing to is the strength of the euro. The euro has been rising in recent weeks, and Saravelos believes that this trend is likely to continue.
“The euro is benefiting from a number of factors, including the strong performance of the European economy,” Saravelos said. “We believe that the euro is likely to continue to outperform the dollar in the coming months.”
Saravelos’s call is a reversal of his previous stance. In January, he said that the dollar was “oversold” and that he expected it to rebound. However, he has since changed his view, and he now believes that the dollar is likely to continue to weaken.
Saravelos’s call is in line with the views of other currency analysts. A recent survey by Bloomberg found that 60% of currency analysts believe that the dollar will weaken in the coming months.
If Saravelos is right, it could have a significant impact on the global economy. The dollar is the world’s reserve currency, and its value has a major impact on the prices of commodities, assets, and goods. If the dollar weakens, it could lead to higher inflation and lower economic growth.
Of course, it’s impossible to say for sure what will happen to the dollar in the future. However, Saravelos’s call is a warning that the greenback’s days of dominance may be coming to an end.
In addition to the factors mentioned by Saravelos, there are a few other reasons why the dollar could continue to weaken.
The US trade deficit is widening. This means that the US is importing more goods and services than it is exporting. This puts downward pressure on the dollar.
The US economy is growing more slowly than other major economies. This means that investors are less likely to hold dollars as a safe haven.
The US political landscape is becoming more polarised. This could lead to uncertainty and volatility in the markets, which could also weigh on the dollar.
Of course, there are also some factors that could support the dollar. For example, if the Fed raises interest rates more aggressively than expected, it could boost the dollar’s value. However, overall, the trend seems to be pointing towards a weaker dollar.
What does this mean for investors?
If you are an investor who is holding dollars, you may want to consider hedging your bets by investing in other currencies. You may also want to consider investing in assets that are less sensitive to changes in the dollar’s value.
If you are a business that exports goods or services, you may benefit from a weaker dollar. This is because a weaker dollar will make your goods or services cheaper for foreign buyers.
Overall, the outlook for the dollar is uncertain. However, there are a number of factors that could lead to a weaker dollar in the coming months. Investors and businesses should be aware of these factors and should adjust their strategies accordingly
Read risk horizon scanning business articles and watch videostream trending on BusInessRiskTV
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE for more information.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow or profit. Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
How to overcome loss aversion with BusinessRiskTV.com
How do we make the best use of available business assets and resources to maximise return of investment of time and money
Fear of loss often beats the desire to gain more. Fearing losing everything you have built is natural human reaction. However is your fear getting in the way of seizing new business opportunities? Keep innovating and growing with less uncertainty with BusinessRiskTV.
Develop a holistic risk management culture to drive your business forward. Up your risk appetite to achieve more with more controlled balanced risk taking.
The biggest factor in business leader decision making is fear of loss. People worry about loss more than securing gains.
BusinessRiskTV
Develop a more assured risk management framework and risk assessment process to match your risk culture. Make sure your risk taking remains within your risk tolerance.
Do you have loss aversion bias in decision making?
Business leaders who are loss averse feel the pain of loss much greater that any joy from any gains from decisions made. They make strategic business decisions accordingly. The risk culture of the business models the loss aversion bias of the business leader.
If this works well for your business you should continue with status quo. However if you would like to experience faster business growth you may need to take more calculated risks.
Loss aversion refers to the tendency to prefer avoiding losses to acquiring equivalent gains. It is better for you to not lose 10000 pounds than to make 10000 pounds in business.
BusinessRiskTV
However most entrepreneurs and many business leaders are in their position to better themselves. If you mitigate the potential losses from taking more risks and manage the risks to maximise the return on your investment you should end up with faster growth with less uncertainty.
It is more common in people who are not entrepreneurs or business leaders to be biased against taking risks. Loss aversion is a reflection of a general bias in human psychology. People tend to want to stick with what they know than make changes that might not work well. People in general are resistant to change. When presented with the potential benefits of change they focus more on what might be lost rather than on what can be gained.
What is your business risk tolerance? If you can make changes to try to grow faster that if do not work fall within your risk tolerance would you take more risk?
If you adopted small changes rather than one big radical all eggs in one basket change would you feel more comfortable? Spreading your faster business growth changes across a few new ideas may be better for your business. When you know which one of the new changes works best perhaps then you can focus on one new idea.
Do not confuse more risk taking in business with gambling. Taking calculated risks to grow faster is about assessing and then managing the risks before you action more risk taking. You can mitigate the threats from more risk as well as maximise the returns from taking more risks.
Few things in business life are guaranteed other than taxes! Even maintaining the status quo comes with the threat of business failure. Kodack photography business was once one of the most successful businesses in the world. How many Kodack films do you buy for your camera now!
The desire to avoid business losses is motivated by fear. The more a business leader fears losses the more likely he or she is to be loss averse and the more likely they are to be disinclined to make changes to their business to be more successful. Having a better understanding of the risks that could be taken to achieve more will make loss averse business leaders more comfortable with changing the the business.
Often the perception of risks and reward are skewed to the belief that you are doomed to fail which means you do not make changes to the business. By the same token it is important that all stakeholders in the business are involved in assessing risks from changes to business. Business leaders who do like taking risks can miss the pitfalls to mitigate against whilst making changes that can cause the change project fail even if it was a great idea.
With a little input and engagement from all levels of the organisation your project to grow faster is more likely to be a success. Take risks that are worth taking which are achievable with everyone onboard.
BusinessRiskTV
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your email inbox on enterprise risk management and project risk management
Subscribe to BusinessRiskTV.com for free
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE to find out more entering code #Marketing.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit. Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Managing threats and opportunities better with BusinessRiskTV.com
Enterprise risk management training courses in our virtual classroom. Corporate risk management training matched to your business needs. Find the best enterprise risk management training courses for you. Whether you prefer your enterprise risk management training remotely online or in the classroom start sharpening the saw to tackle enterprise risks better. Come direct to us or use one of our enterprise risk management training provider partners. Ask us to develop an enterprise risk management training course for your business or enterprise. Manage enterprise threats and opportunities better. Develop your risk knowledge and business intelligence.
Working with other enterprise risk management training providers to help you get what you want when you want it
Virtual Online Remote Enterprise Risk Management Training Short Courses
Our readers are interested in enterprise risk management training. Our main priority is to help readers improve their enterprise risk management system and practices. If another enterprise risk management training provider fits more closely to our readers needs we are happy to connect you online.
Reach more people seeking to educate themselves and train their colleagues online and in the classroom.
Promote and market your enterprise risk management training Courses for 12 months
Find out how to promote your business locally and globally. CLICK HERE or email [email protected] entering code #EnterpriseRiskManagementTrainingMarketing
Put your risk management training course in front of new buyers already interested in your type of offering before they buy from another enterprise risk management training provider.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit
Increase the sources of your income streams more sustainably. Grow your business faster.
Enterprise Risk Management Training Course Directory
BusinessRiskTV.com UK Business Directory List
Want to list your enterprise risk management training course in our Enterprise Risk Management Training Course Directory?
Are you running any enterprise risk management training course deals discounts or special offers you want more people to know about?
Could you write an advertorial to advertise your enterprise risk management training course and inform our readers?
Reach more new customers with BusinessRiskTV.
Click on Register Now or email [email protected] entering could #EnterpriseRiskManagementTrainingCourseDirectory
Business Growth Workshops
Is your business making the most of its available resources?
Understand enterprise risk management and firm performance improvements on BusinessRiskTV.com
Objectives of Enterprise Risk Management ERM
Enterprise risk management theory and practice can help to boost your business. Are you interested in enterprise risk management theory and practice? Keep up to date with latest enterprise risk management theory and practice news opinions and reviews. Network with enterprise risk management experts and top business leaders locally and globally.
Enterprise risk management theory and practice is an holistic approach to business decision making. It is designed to make the best use of business resources.
Achieve enterprise objectives more easily and cost effectively by reducing the impact of uncertainty.
Improve business decision making when looking at business strategy operational management and project management.
Engage the whole workforce in the task of making the enterprise a success.
Learn strategies to develop collaboration with enterprise risk management development within your business. Create an efficient risk management framework and risk assessment process you can communicate clearly to all employees to embed ERM more effectively.
Enterprise risk management creates value for all stakeholders in the enterprise including customers employees management team and owners.
Assess enterprise threats opportunities and their impact on enterprise objectives to use existing resources more cost effectively to achieve success more quickly and easily with less uncertainty.
BusinessRiskTV
Subscribe to BusinessRiskTV for free enterprise risk management ERM alerts bulletins and reviews to your inbox
In today’s dynamic and interconnected business landscape, managing risks has become an essential aspect of successful enterprise management. Organisations face a wide range of risks, including financial, operational, strategic, and reputational risks, which can significantly impact their ability to achieve objectives and thrive in a competitive environment. Enterprise Risk Management (ERM) provides a comprehensive framework and process for identifying, assessing, and mitigating these risks to ensure sustainable growth and resilience. This article serves as a guide to understanding and implementing ERM within organisations.
Understanding Enterprise Risk Management:
Enterprise Risk Management is a strategic approach that enables organisations to proactively identify, assess, and manage risks across all levels and functions. It involves the systematic integration of risk management practices into an organisation’s decision-making processes, governance structure, and operations. ERM goes beyond traditional risk management, which often focuses on isolated risks, by considering the interdependencies and cumulative effects of risks on an enterprise-wide basis.
Key Components of Enterprise Risk Management:
a. Risk Identification: The first step in ERM is identifying and cataloging all potential risks that may affect the organisation. This involves gathering information from various sources, including internal stakeholders, external experts, industry reports, and historical data. The goal is to create a comprehensive risk register that captures both known and emerging risks.
b. Risk Assessment: Once risks are identified, they need to be assessed in terms of their likelihood of occurrence and potential impact. This step involves qualitative and quantitative analysis to prioritise risks based on their significance. Risk assessment techniques may include scenario analysis, sensitivity analysis, and probabilistic modeling.
c. Risk Mitigation: After assessing risks, organisations develop risk mitigation strategies to reduce the likelihood or impact of identified risks. These strategies may involve implementing controls, transferring risks through insurance or contracts, accepting risks within predetermined tolerance levels, or avoiding risks altogether by changing business practices or diversifying operations.
d. Risk Monitoring and Reporting: ERM is an ongoing process that requires continuous monitoring of risks to ensure their effectiveness. Organisations should establish clear risk indicators and thresholds to detect changes in risk levels and trigger appropriate actions. Regular reporting on risk exposures, mitigation efforts, and performance against risk objectives is essential to keep stakeholders informed and accountable.
e. Risk Culture and Communication: ERM is most effective when risk management becomes an integral part of an organisation’s culture. This involves fostering a risk-aware mindset among employees, encouraging open communication about risks, and embedding risk management practices in daily operations. Effective communication channels should be established to facilitate the flow of risk-related information across all levels of the organisation.
Benefits of Enterprise Risk Management:
Implementing ERM brings several benefits to organisations:
a. Improved Decision Making: ERM provides decision-makers with a holistic view of risks, enabling them to make informed choices that align with the organisation’s risk appetite and strategic objectives. By considering risk factors, organisations can avoid costly mistakes and capitalise on opportunities.
b. Enhanced Resilience: ERM helps organisations become more resilient in the face of uncertainties and disruptions. By systematically managing risks, organisations can better anticipate and respond to potential threats, minimising their negative impact and quickly recovering from adverse events.
c. Competitive Advantage: Effective ERM enables organisations to differentiate themselves by demonstrating strong risk management practices to customers, investors, and regulators. This can enhance their reputation, attract new business opportunities, and improve access to capital.
d. Regulatory Compliance: ERM assists organisations in complying with applicable laws, regulations, and industry standards. By proactively managing risks, organisations can identify compliance gaps and take corrective actions to avoid penalties and reputational damage.
e. Cost Optimization: ERM helps organisations optimise resource allocation by identifying areas of inefficiency, waste, or excessive risk-taking. By streamlining processes, eliminating redundancies, and aligning risk management efforts, organisations can reduce costs and improve operational efficiency.
Implementing Enterprise Risk Management:
To successfully implement ERM, organisations should consider the following steps:
a. Leadership Commitment: Senior management should demonstrate a strong commitment to ERM and actively champion its adoption throughout the organisation. This includes allocating resources, defining roles and responsibilities, and fostering a risk-aware culture.
b. Risk Governance: Establish a clear governance structure for ERM, with defined roles, responsibilities, and reporting lines. Designate a risk officer or risk management team to oversee the ERM process and ensure its integration into decision-making at all levels.
c. Risk Framework: Develop a risk management framework tailored to the organisation’s specific needs and industry context. This framework should outline the key components of ERM, including risk identification, assessment, mitigation, monitoring, and reporting.
d. Risk Assessment and Prioritisation: Conduct a comprehensive risk assessment to identify and prioritise risks based on their potential impact and likelihood of occurrence. This assessment should involve input from relevant stakeholders and utilise appropriate risk analysis techniques.
e. Risk Mitigation Strategies: Develop and implement risk mitigation strategies that align with the organisation’s risk appetite and strategic objectives. These strategies should be tailored to address specific risks and may involve a combination of controls, risk transfer mechanisms, and process improvements.
f. Integration with Business Processes: Embed risk management practices into existing business processes and decision-making frameworks. This includes integrating risk considerations into strategic planning, project management, performance evaluation, and budgeting processes.
g. Training and Awareness: Provide training and awareness programs to educate employees about ERM principles, methodologies, and their role in managing risks. Foster a culture of risk awareness, where employees are encouraged to report and escalate potential risks.
h. Continuous Monitoring and Improvement: Establish a system for ongoing risk monitoring and reporting. Regularly review and update the risk register, assess the effectiveness of risk mitigation measures, and identify emerging risks. Continuously improve the ERM process based on lessons learned and feedback from stakeholders.
Overcoming Challenges in Enterprise Risk Management:
Implementing ERM can present challenges, but organisations can overcome them with proper planning and execution:
a. Organisational Silos: ERM requires collaboration and information sharing across different functions and departments. Breaking down silos and fostering cross-functional communication is essential for effective risk management.
b. Resistance to Change: Resistance to change can hinder the adoption of ERM. Organisations should invest in change management efforts, addressing concerns, and providing training and support to employees.
c. Data and Information Management: ERM relies on accurate and timely data and information. Organisations should establish robust data management systems, ensure data integrity, and leverage technology solutions for data collection, analysis, and reporting.
d. Risk Appetite Alignment: Aligning risk appetite across the organisation can be challenging. Clear communication and dialogue between senior management and relevant stakeholders are crucial to establish a shared understanding of risk tolerance and strategic objectives.
e. Evolving Risk Landscape: The risk landscape is continuously evolving, with new risks emerging and existing risks evolving. Organisations should stay updated on industry trends, regulatory changes, and emerging risks to ensure the relevance and effectiveness of their ERM practices.
Enterprise Risk Management is a strategic imperative for organizations to navigate the complexities and uncertainties of the modern business environment. By adopting a comprehensive ERM framework, organisations can proactively identify, assess, and mitigate risks, enabling them to make informed decisions, enhance resilience, and gain a competitive advantage. Successful implementation of ERM requires leadership commitment, a robust governance structure, integration with business processes, and a risk-aware culture. Overcoming challenges and continuously improving the ERM process will contribute to long-term success and sustainability in today’s dynamic business landscape.
How can business leaders protect and grow their business regardless of business environment
Do not panic! Think about and implement new strategies to reduce negative risks to your business. Be better prepared for downside risks. Discover fresh ideas to tackle risk management challenges.
Risk events can destroy a business strategy. Best laid plans … Managing business risks is crucial to maximise business performance. How do you identify and mitigate strategic operational and project risks?
How To Manage Risk In Business
Take The Leap Into Your Future Business Success With More Confidence
Analyse the risk so you can decide on its importance in relation to your business objectives.
Prioritise your available business resources to tackle the key business risks for the best return on your risk management time and money.
Assign responsibility for each key risk to your senior management team members. If no one is going to be held account for failure to manage key risks then there will be insufficient consideration of the risk.
Monitor and review your key business risks and effectiveness of associated risk management measures. If the net risk rises then you may need to make changes to you risk management plan. If the net risk reduces you may assign less management time to controlling it but still allocate responsibility for controlling the risk to a key senior management team member.
Risk Identification
Identify potential problems that could cause your business trouble. The business risk can be an event or it can be a condition like changing business environment.
Identify and assess your enterprise risks better
Risk Mitigation
International Trade Hub
Design a risk mitigation plan eliminate or minimise the impact of the risk on your business objectives. After evaluating the risk pick a risk mitigation strategy that avoids reduces or transfers the risk. Alternatively accept the risk as part and parcel of achieving business objectives.
Select and commit business resources required for specific risk mitigation strategies.
BusinessRiskTV
Seek out guidance on how to identify the risks your business may face. Understand how to respond to risk events. Put new risk management systems in place to deal with the risks cost effectively.
Learn how to develop a risk management plan to protect your business. Find ways to minimise business risks with a new risk management strategy and approach for managing.
Reduce not only the likelihood of an event occurring but also the potential impact. Make sure you also consider the opportunities to grow your business when determining how best to manage risks.
Subscribe to BusinessRiskTV for free risk management alerts bulletins and reviews to your email inbox
Work with BusinessRiskTV to identify alternative risk mitigation strategies methods tools and techniques for each key risk. Get risk management advice on how to control and minimise negative effects of key risks from network of risk management experts.
Enterprise risk management ERM training to improve your awareness of enterprise threats and opportunities for growth with BusinessRiskTV.com
Enterprise Wide Risk Management Consulting
Enterprise wide risk management consulting services can boost your business performance. Enterprise risk management consulting services can support your business ambitions. What does your enterprise need to do or stop doing to be more successful? Enterprise wide risk management consulting and training services will provide you with the answer.
Enterprise Risk Management ERM skills and Risk Knowledge Development
Gain a better more accurate understanding of the enterprise risks facing your organisation. Develop bespoke enterprise wide risk assessment process for your enterprise. Embed the right enterprise risk management tools and techniques to fit your enterprise risk management culture. Conduct your own enterprise wide risk assessments to manage enterprise risks better.
Solve complex enterprise challenges with more effective risk management strategy and risk management system. Improve your risk management leadership skills and train the rest of your employees to understand the benefits of enterprise wide risk management approach.
Apply a holistic enterprise wide risk management ERM approach across the entire organisation to enable a better understanding and management of key enterprise risks
BusinessRiskTV
Develop a more integrated and coordinated enterprise risk management process that places greater emphasis on the whole instead of the parts of the enterprise. Your revised enterprise risk management framework should be built with new enterprise risk management policies processes tools techniques and reporting for improved governance risk and compliance GRC.
Effective governance risk management and compliance is critical to build a resilient successful enterprise. It is fundamental for strategic operational and project management.
An Enterprise Risk Management ERM holistic approach is important because its successful embedding in your enterprise will give you more confidence it can survive and prosper regardless of the environment it has to work in. Manage threats better and seize new opportunities you may otherwise have missed or turned down.
Enterprise wide risk management methodology principles and practices will help your enterprise achieve its aims and objectives. It will focus your available resources to enable optimal enterprise performance.
BusinessRiskTV enterprise risk management consultants work in partnership with your senior managers and executives to ensure governance risk and compliance GRC is appropriately considered in the business strategy setting operational management and project management. We help you reach the right balance of risk taking and success. Respond to risk better and exploit opportunities quicker with more confidence.
Find out more about BusinessRiskTV enterprise wide risk management consulting and training services
Become a Pro Risk Manager with help from BusinessRiskTV
Is There a Demand for Risk Management Consultants?
In today’s increasingly complex and uncertain world, businesses of all sizes are under pressure to manage risk effectively. This has led to a growing demand for risk management consultants, who can help organisations identify, assess, and mitigate risks.
What Do Risk Management Consultants Do?
Risk management consultants typically have a background in business, finance, or statistics. They use their expertise to help organisations develop and implement risk management frameworks. This may involve identifying and assessing risks, developing risk mitigation strategies, and managing risk throughout the organisation.
What Are the Benefits of Hiring a Risk Management Consultant?
There are a number of benefits to hiring a risk management consultant. These include:
Expertise: Risk management consultants have the expertise and experience to help organisations identify, assess, and mitigate risks.
Objectivity: Risk management consultants can provide an objective view of an organisation’s risk profile. This can be helpful in identifying risks that may not be apparent to internal stakeholders.
Best practices: Risk management consultants can share best practices from other organisations. This can help organisations improve their risk management practices.
Improved compliance: Risk management consultants can help organisations improve their compliance with regulations.
Is There a Demand for Risk Management Consultants?
The demand for risk management consultants is growing. This is due to a number of factors, including:
Increased complexity of business operations: Businesses are becoming more complex, which means that there are more risks to manage.
Increased regulatory requirements: Governments are imposing stricter regulations on businesses, which means that they need to improve their risk management practices.
Increased awareness of risk: Businesses are becoming more aware of the importance of managing risk. They are realising that risk can have a significant impact on their bottom line.
What Are the Skills Needed to Be a Risk Management Consultant?
The skills needed to be a risk management consultant vary depending on the specific role. However, some of the most important skills include:
Business acumen: Risk management consultants need to have a strong understanding of business operations. This will help them identify and assess risks that may impact the organisation.
Quantitative skills: Risk management consultants need to be able to analyse data and use statistical methods to assess risk.
Communication skills: Risk management consultants need to be able to communicate effectively with both technical and non-technical audiences.
Problem-solving skills: Risk management consultants need to be able to identify and solve problems.
How to Become a Risk Management Consultant
There are a number of ways to become a risk management consultant. Some people choose to earn a degree in risk management or a related field. Others gain experience in risk management by working in a business or government organisation. There are also a number of certification programs available for risk management professionals.
The Future of Risk Management Consulting
The future of risk management consulting is bright. The demand for risk management consultants is expected to continue to grow in the coming years. This is due to the increasing complexity of business operations, the increasing regulatory requirements, and the increasing awareness of risk.
If you are interested in a career in risk management consulting, there are a number of things you can do to prepare. First, you should gain experience in risk management by working in a business or government organisation. Second, you should earn a degree in risk management or a related field. Third, you should become certified as a risk management professional.
The field of risk management consulting is a dynamic and rewarding field. If you are interested in helping organisations manage risk, then a career in risk management consulting may be the right choice for you.
In addition to the above, here are some other factors that are driving the demand for risk management consultants:
The increasing frequency and severity of natural disasters.
The growing threat of cyberattacks.
The increasing complexity of financial markets.
The globalisation of business.
As these and other risks continue to grow, the demand for risk management consultants is likely to remain strong.
Risk management news articles opinions and reviews on BusinessRiskTV.com
BusinessRiskTV risk magazine subscription is quick online. Want to find out more about your country or industry risks? Interested in how other business leaders and risk management experts manage business risks well or badly? Subscribe to BusinessRiskTV for free.
Risk analysis risk insight with risk management news opinions and reviews
Inform your business decision making. CLICK HERE or email [email protected] entering code #RiskMagazineSubscription
Scan the horizon for risks that will impact on your business objectives. Inform your foresight and scenario planning processes to be better prepared for threats and opportunities to grow faster. Stay up to date with the best enterprise risk management practices. Avoid the pitfalls of business management others have fallen into.
Exploring the key risk management trends and practices
Helping you identify and manage better key risks to your business. Business leaders get the latest news on whats happening in the business world. Read risk analysis articles or participate in online debate and discussion.
Improve your risk knowledge and business intelligence to make best business decisions more often.
BusinessRiskTV
We welcome business leader and risk management professionals contributions. BusinessRiskTV was founded by Keith Lewis and is published by C&C Associates. We work with our risk management partners to provide tips advice and support to business leaders around the world. Seize the day with more confidence in your risk management decision making process.
Subscribe today with BusinessRiskTV for free alerts bulletins and reviews to your inbox
BusinessRiskTV online risk management magazine subscription. Complete and submit the form below and enter code #RiskMag.
Advice tips and support to help business leaders make better decisions quicker with less uncertainty with BusinessRiskTV.com
BusinessRiskTV provides a business advice forum for business leaders. Connect with like minded business leaders. Discuss key threats and opportunities facing your business in a virtual online business advice forum.
Explore and evaluate country risks to your business
Explore and evaluate industry risks to your business
Explore and evaluate specific business risks to your business
Pick the right forum via BusinessRiskTV to manage your business risks better to boost your business performance.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your inbox
Promote and market your business on BusinessRiskTV for 12 months
Find out how to promote your business locally and globally. CLICK HERE or email [email protected] entering code #BusinessAdviceForum
Put your products or services in front of new buyers interested in your business offering. Increase your income streams more profitably and more sustainably.
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
How to work smarter not harder with BusinessRiskTV.com
Create the right work habits to work smarter
Be more efficient with your work time. Many people are morning people. If you start early and finish early? Do your best work when your brain is most receptive to working most efficiently. When you are at your most productive do not let other people interrupt you. Focus on one task at a time. Pick the most important tasks to be completed when you are at you most productive.
Discover how to work smarter not harder. Become more productive as an individual and a business. Be more effective at work and in business. Complete business objectives faster.
Prioritise the things that are most important not what is urgent.
Eliminate more meetings reduce length of meetings and make sure each meeting is the most productive it can be.
Focus on most important task get it done then move onto next most important thing for you and your business. Stop multitasking.
Do most difficult tasks when you are at your best not at the end of the working day when your brain is fried.
Take a more holistic approach to business problem solving. Lumping business risks together to be solved by one risk management solution will be more cost effective and quicker.
Best tips for achieving what you want in life and business
Develop your risk knowledge and business intelligence to inform your business decision making process. Network with positive business leaders who look for solutions not dwell on barriers to business development.
A holistic risk management approach will make more cost effective use of business resources easier. Integrate enterprise risk management ERM methodology into strategic operational and project decision making. Engage the whole workforce in making business changes.
Measure the results and outcomes from your new risk management strategy and review steps to make progress faster. Communicate more effectively with all levels of the organisation to ensure everybody is pulling in the same direction.
Benefits Of Enterprise Risk Management ERM
Stop procrastination within your business
Make business decisions faster with more confidence
Tap into unusual but effective ways to boost your revenue more profitably. Learn tips tools and techniques to work smarter not harder. Increase your productivity.
Enterprise risk management consulting training and coaching services to help business leaders work smarter not harder and achieve more in less time with existing resources.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews on better working practices to your inbox
Promote and market your business on BusinessRiskTV for 12 months
Find out how to promote your business locally and globally email [email protected]
Place your business in front of new buyers more cost effectively and sustainably. Link into your specific products or services direct from BusinessRiskTV. Increase your income streams more profitably for long term faster business growth.
Smart business decision making involves a combination of careful analysis, strategic thinking, and effective execution. Here are some tips to help you practice smart business decision making:
Gather and analyse data: Before making any business decision, it’s important to gather and analyse relevant data. This might include market research, customer feedback, financial data, and other relevant information. Use this data to identify trends, opportunities, and potential risks.
Consider multiple options: When making a business decision, it’s important to consider multiple options. Don’t simply go with the first idea that comes to mind. Instead, brainstorm a variety of potential solutions and evaluate them based on their feasibility, potential benefits, and potential drawbacks.
Evaluate the risks: Every business decision carries some level of risk. Before making a decision, it’s important to carefully evaluate the potential risks and consider how they can be mitigated or managed.
Seek input from others: It can be helpful to seek input from others when making a business decision. This might include input from employees, stakeholders, or industry experts. Different perspectives can help you identify blind spots and make a more informed decision.
Set goals and prioritise: When making a business decision, it’s important to consider your overall goals and priorities. Make sure your decision aligns with your long-term objectives and consider how it might impact other aspects of your business.
Test and iterate: Once you’ve made a decision, test it out and evaluate the results. If it’s not working as expected, be prepared to iterate and make adjustments as needed.
Remember, smart business decision making involves a combination of analysis, creativity, and strategic thinking. By following these tips, you can make more informed decisions that are more likely to lead to success.
Anticipate problems before they happen to your business with BusinessRiskTV.com
Ability to anticipate and solve business problems quicker
Learn how to solve business problems effectively. The best business leaders can avoid business problems before they become a problem for their business. Engage all your employees to help you solve business problems. Change how you think about business problems.
Find out more about business problem solving techniques with BusinessRiskTV. Experience business problem solving tools.
Identify the risks impacting on your business
Understand how all your business stakeholders will be affected by the risks
Identify the solutions to manage your business risks better
Evaluate which business solutions are best for your business
Investigate the upside and downside risks of business problems for your business
Monitor and review your risk management plan and risk management strategy effectiveness
If the business problem is a big daunting issue for your business break it down into smaller component parts and assess the parts independently so the big problem becomes more manageable. Avoid business problems altogether if possible.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your email inbox on solving business problems quicker
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of people ready to buy before your competitors do. Link into your existing sales process direct from BusinessRiskTV. Increase your revenue streams more profitably and sustainably. Grow your business faster.
Discover How To Beat The Competition In Sales
Read business problem solving articles and watch videostream trending on BusinessRiskTV
Problems we will face in future assessed with BusinessRiskTV.com
Working on productivity and profitability for stronger decade ahead. Control the destiny of your business. Change the way you manage business risks to boost business performance and build business resilience.
Help your business grow faster instead of fearing survival
What business risks will your business face over the coming 10 years. How will the 4th industrial revolution impact on your business. How well prepared are you? What things will change in the future.
Fourth Industrial Revolution Latest News Commentary and Risk Review
Preparing for a better future
Develop your risk management systems. Improve governance and compliance. Build stronger business resilience. Increase turnover more profitably.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your email inbox on future business risks
Promote and market your business on BusinessRiskTV for 12 months
Put your business products or services in front of buyers interest in your business offering. Link into your existing sales processes. Increase your revenue streams more profitably. Grow your business faster.
Targeted Marketing Investment To Hit The Potential Buyers You Need To Grow Your Business Faster
Read horizon scanning and risk foresight articles and watch videostream trending on BusinessRiskTV
Holistic business risk management solutions with BusinessRiskTV.com
Improving collaboration on enterprise risk management. Develop your enterprise risk management framework and risk assessment process. Improve your risk monitoring and risk review information systems.
Are you responsible or interested in risk identification assessment and management?
Rethinking and Re-purposing Your Business During Uncertainty
Develop new risk management strategy for your business or enterprise. Bringing together risk management professional and business leaders online to improve risk management practices and outcomes.
Learn what ERM is and how it can benefit your enterprise performance
Enter code #GlobalRisksSymposium
Virtual online attendance at our ERM summits is free to members of BusinessRiskTV. Live stream the ERM summits wherever you are in the world.
Build your enterprise risk management system. Drive improved enterprise performance. Develop your business intelligence and risk knowledge. Improve governance risk and compliance GRC management.
Enterprise Risk Management Trends
Discover a new holistic risk management approach to improve business strategy setting and implementation.
Create practical business management systems to grow a better business faster inline with with your risk management culture.
Improve business outcomes.
Be inspired to improve your business.
Connect with local and global risk management experts.
Network with top business leaders to understand your business problems and find best business risk management solutions quicker.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews on enterprise risk management
Global economic issues and trends with BusinessRiskTV.com
What are the biggest risks to the global economy?
Although unpredictable lets try and predict the future! What is exciting is that clearly there are many threats particularly from the environment and trade wars. There are also massive opportunities for business leaders who are in control of their own business risks.
What are the biggest threats and opportunities to the world in the new decade?
BusinessRiskTV
Some of the biggest global risks business leaders have little control over. Warfare and mass destruction global inequality between countries and unequal economic development creating mass economic migration global trade wars global pandemics political shift towards popularity driven left or right wing positions and systemic collapse of the financial markets. Contingency planning is the best that business leaders can do to manage most of such global catastrophic risks.
However there are risks business leaders do have the potential to have control over but do not always control such global occurring risks. Global risks falling into this category include deteriorating natural environment and global warming as well as cyber attacks.
Many of the risk management solutions for one global risk can manage the threat and opportunity from another risk without extra investment of time or money.
BusinessRiskTV
BusinessRiskTV is scanning for threats and opportunities to the global economy in the new decade. If you look for it you can still see an abundance of wealth and opportunity globally and locally.
Global Recession?
Putting warfare and mass destruction risk to one side the most likely cause of a global recession is the continuing or deterioration of global trade wars.
The climate threat has come off age! The solutions are already known. However the will is less obvious. The financial services industry particularly banks will probably be the biggest influencers in driving environmental protection. Many banks and investors are refusing to finance coal businesses and are threatening divestment and lack of funding for other fossil fuel businesses. Even the governor of the Bank of England has told pension fund managers to sort out investment in fossil fuel based businesses.
The flip side of this is the opportunity to make money from environmental protection. Existing and developing environmental protection technologies are a real business opportunity. Even if your business does not sell environmental protection products or services your brand needs protecting via the adoption of good environmental protection policy.
The world is drowning in debt and fake money. Government corporate and personal debt. How future generations will cope with the weight of debt when many in the developed world are also going to suffer the effects of demographic time bomb detonation. Quite frightening! However one way to cope with future and present global risks is for governments to invest money in infrastructure particularly 5G communication and utilities. Many of the innovation and inventions are going to rely on power and the internet.Necessity is the mother of invention but with power and faster communication we will be trapped in the past with only a vision of how much better our future could be globally.
Keep up to date with economic issues in the world that could impact on your business objectives
Email [email protected] or complete and submit the form below to receive free email alerts bulletins and global risk reviews.
Promote and market your business on BusinessRiskTV for 12 months
Put your business products or services in front of potential new customers in more innovative ways. Link to your existing sales process from BusinessRiskTV. Develop new income streams more profitably. Grow your business faster.
The global landscape is changing rapidly, with new risks emerging every day. From geopolitical tensions to cybersecurity threats, businesses around the world are facing a complex and constantly evolving set of risks that they must manage in order to survive and thrive. In this article, we will explore some of the most pressing global risks that businesses need to be aware of and offer some strategies for managing them effectively.
Geopolitical Risks
Geopolitical risks are those that arise from political tensions between countries or regions. These risks can take many forms, including trade wars, sanctions, and military conflicts. One recent example of a geopolitical risk is the ongoing trade war between the United States and China, which has had significant implications for businesses around the world.
To manage geopolitical risks, businesses need to stay informed about political developments in the regions where they operate. They should also be proactive in diversifying their supply chains and hedging against currency fluctuations. In addition, businesses can consider partnering with local organisations or governments to gain a better understanding of the political environment and mitigate potential risks.
Cybersecurity Risks
Cybersecurity risks are those that arise from the increasing use of technology and the internet. As businesses become more reliant on digital systems and data, they also become more vulnerable to cyber attacks. These attacks can take many forms, including ransomware, phishing, and malware.
To manage cybersecurity risks, businesses need to invest in robust cybersecurity measures, such as firewalls, encryption, and regular system updates. They should also educate their employees about best practices for online security, such as avoiding suspicious emails and using strong passwords. In addition, businesses can consider purchasing cyber insurance to mitigate the financial impact of a cyber attack.
Climate Change Risks
Climate change risks are those that arise from the impact of climate change on the environment and society. These risks can take many forms, including extreme weather events, sea level rise, and food and water scarcity. The impact of climate change is already being felt around the world, and businesses need to be prepared for the potential consequences.
To manage climate change risks, businesses can take a number of steps. They can invest in renewable energy sources and other sustainable technologies to reduce their carbon footprint. They can also develop contingency plans for extreme weather events and other climate-related risks. In addition, businesses can consider partnering with governments and NGOs to address climate change at a systemic level.
Supply Chain Risks
Supply chain risks are those that arise from disruptions to the flow of goods and services. These disruptions can be caused by a variety of factors, including natural disasters, political unrest, and pandemics. The COVID-19 pandemic, for example, has had a significant impact on global supply chains, causing shortages of critical goods and disrupting manufacturing and distribution networks.
To manage supply chain risks, businesses need to develop contingency plans for disruptions, such as alternative suppliers and backup inventory. They should also be proactive in identifying potential risks in their supply chains and implementing measures to mitigate them. In addition, businesses can consider investing in technologies, such as blockchain and IoT, to improve supply chain visibility and resilience.
Financial Risks
Financial risks are those that arise from changes in the financial markets or economic conditions. These risks can take many forms, including fluctuations in exchange rates, interest rates, and commodity prices. They can also be caused by systemic risks, such as a global recession or financial crisis.
To manage financial risks, businesses need to be proactive in monitoring financial markets and economic conditions. They should also develop contingency plans for potential disruptions, such as currency hedging strategies and diversified investment portfolios. In addition, businesses can consider partnering with financial institutions and other experts to gain a deeper understanding of financial risks and opportunities.
Managing global risks is a complex and ongoing process for businesses around the world. By staying informed about emerging risks and implementing proactive measures to mitigate them, businesses can reduce their exposure to potential losses and position themselves for long-term success.
It’s important to recognise that global risks are interconnected, meaning that a disruption in one area can have ripple effects across multiple industries and regions. For this reason, businesses need to take a holistic approach to risk management, considering the potential impact of each risk on their operations and stakeholders.
In addition to the strategies outlined above, businesses can also consider partnering with risk management experts and other organisations to stay informed about emerging risks and best practices for risk management. By taking a collaborative approach to risk management, businesses can better anticipate and manage global risks, while also positioning themselves for long-term success in an ever-changing landscape.
Overall, businesses that are able to effectively manage global risks will be better positioned to thrive in a rapidly changing world. By staying informed, developing contingency plans, and investing in resilience, businesses can reduce their exposure to potential losses and position themselves for long-term success.
Business enterprise risk management grapevine on BusinessRiskTV.com
Risk insight for business leaders
Listen into executive grapevine. Want to be in touch with your future? BusinessRiskTV horizon scanning risk management intelligence and research offers you the opportunity to stay ahead of the game. Network with business leaders who want to create a competitive advantage to those who are on the bus.
Risk insight for risk leaders and business executives. Scan horizon to keep ahead of risk events. Develop your business risk management culture. Hear about risk matters through our risk executive grapevine.
Dedicated to providing best risk management knowledge business intelligence and career development opportunities:
Developing risk management jobs board to help risk executives develop their career.
Providing easier access to risk management training and development via our risk management marketplace.
Subscribe to BusinessRiskTV for free alerts and bulletins to your email inbox. Alternatively connect to us with our various social media accounts to stay up to date.
Enter code #ExecutiveGrapevine
Get connected on BusinessRiskTV.com
Pick up the latest business risk management news headlines opinions and reviews for free. Connect with large professional business management networks that suit your business needs.
This new decade offers massive opportunities and threats to businesses. Making the right decisions at the right time is not going to be easy. However we offer support guidance and training to build your business resilience and growth.
BusinessRiskTV
Find out which upcoming online conferences workshops webinars a roundtable discussions could be right for you and your colleagues to develop your risk knowledge and business intelligence.
Make sure you do not take too many or too few risks to achieve greater business success.
BusinessRiskTV
Promote and market your business on BusinessRiskTV for 12 months
Put your business products or services in front of potential new customers.
Find out how to promote your business locally and globally
Innovative ways to reach out and sell more online. Grow your business faster. BusinessRiskTV can become a new income stream for your business. A more profitable one.
Read articles and watch videostream trending on BusinessRiskTV to increase your risk knowledge and business intelligence
BusinessRiskTV Executive Grapevine
Executive Grapevine on BusinessRiskTV.com: Navigating the Risks and Challenges of Business Leadership
As an executive, navigating the risks and challenges of business leadership can be a daunting task. Whether you’re leading a small startup or a multinational corporation, there are countless factors that can impact the success of your organisation. However, by staying informed and proactive, you can mitigate risks and overcome challenges to drive your business forward. This is where Executive Grapevine on BusinessRiskTV.com can be a valuable resource for business leaders.
Executive Grapevine is a platform that offers business leaders the latest insights and advice on risk management, leadership, and innovation. It provides a forum for executives to connect, share ideas, and learn from each other’s experiences. On BusinessRiskTV.com, Executive Grapevine provides a wealth of resources for business leaders, including articles, webinars, podcasts, and more.
One of the key areas that Executive Grapevine covers is risk management. Risk management is an essential aspect of business leadership, as it involves identifying, assessing, and mitigating risks that can impact the success of your organization. From cyber threats to supply chain disruptions, there are a variety of risks that can pose a threat to your business. By staying informed about the latest risks and trends, you can take proactive steps to mitigate these risks and protect your organisation.
In addition to risk management, Executive Grapevine also covers leadership and innovation. Effective leadership is crucial to the success of any organisation, and Executive Grapevine provides insights and best practices for leading teams and driving growth. Innovation is also a key aspect of business leadership, as it involves finding new and creative ways to solve problems and drive growth. Executive Grapevine offers insights and strategies for fostering a culture of innovation within your organisation.
One of the benefits of Executive Grapevine is that it provides a forum for business leaders to connect and share their experiences. By learning from other executives, you can gain valuable insights and perspectives that can help you navigate the challenges of business leadership. Executive Grapevine also provides opportunities for networking and collaboration, which can be valuable for building relationships and partnerships that can drive growth.
Another benefit of Executive Grapevine is that it provides a range of resources for business leaders, including articles, webinars, podcasts, and more. These resources are designed to provide actionable insights and advice that you can apply to your own organisation. Whether you’re looking to improve your risk management strategies or foster a culture of innovation, Executive Grapevine offers resources that can help you achieve your goals.
In addition to the resources provided by Executive Grapevine, BusinessRiskTV.com also offers a range of other tools and resources for business leaders. These include risk management software, business continuity planning tools, and more. By leveraging these tools and resources, you can streamline your risk management processes and improve the resilience of your organisation.
Overall, Executive Grapevine on BusinessRiskTV.com is a valuable resource for business leaders who are looking to navigate the risks and challenges of business leadership. By staying informed and proactive, you can mitigate risks and overcome challenges to drive your business forward. Whether you’re leading a small startup or a multinational corporation, Executive Grapevine offers insights and strategies that can help you achieve your goals.
In today’s rapidly changing business landscape, effective risk management, leadership, and innovation are essential to the success of any organisation. By leveraging the resources and insights provided by Executive Grapevine on BusinessRiskTV.com, business leaders can stay ahead of the curve and position their organisations for success.
Whether you’re looking to improve your risk management strategies, foster a culture of innovation, or connect with other business leaders, Executive Grapevine on BusinessRiskTV.com offers a wealth of resources and opportunities. By staying informed and proactive, you can navigate the risks and challenges of business leadership and drive your organisation forward.
Make better business decisions with more holistic business risk management information.
Discover the best enterprise risk management tools and techniques to grow your business faster with less uncertainty with BusinessRiskTV.com
How can business leaders make better decisions?
Follow us for analysis of business risk management problems and solutions. Read global risk management solutions reviews and watch video streaming for free live and ondemand. Pick up corporate risk management tips news and reports. Join online enterprise risk management training workshops online roundtable discussions and webinars.
Global risk management solutions reviews on BusinessRiskTV. Our risk management partners showcase their best business risk management solutions. Find the best enterprise risk management solution for your enterprise. Scan the horizon for potential problems and solutions for your business.
Discover latest governance risk and compliance enterprise risk solutions on BusinessRiskTV reviews.
Transform your business for less.
Compare the best risk management services in our online risk management marketplace
Read more about GRC solutions on BusinessRiskTV. Use the latest risk management tools and techniques to manage the risk to your strategic operational and project goals.
Avoid retain spread prevent reduce and transfer risk with more confidence. Manage and sustain your business more easily. Boost your business performance.
BusinessRiskTV
Our network of risk management experts share how to best to manage country and industry risks using their preferred risk management solution. Find out how to minimise threats and maximise opportunities for growth.
Business Risk Management Solutions To Grow Your Business With Less Uncertainty With BusinessRiskTV. CLICK HERE or email [email protected] to find out more.
Build an effective enterprise risk management programme that embeds current best enterprise risk management principles and practices. Upgrade your risk assessment process to fit your business culture and current business marketplace.
Tackle the whole enterprise risks. Pick out specific risks you want to manage better. Flexible enterprise risk management solutions providers. Innovative risk management products and services. Identify manage and evaluate organisational risks better.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews to your inbox
Get the latest business and economy news opinions and analysis from BusinessRiskTV.com
Global Risk Management Solutions on BusinessRiskTV.com
Businesses operate in a constantly changing world, where the risks faced can be unpredictable, complex, and varied. The potential impact of risks can range from reputational damage to financial loss, and in some cases, threaten the very existence of the business. To ensure sustainable growth and profitability, businesses need to have robust risk management strategies in place that are aligned with their overall objectives and risk appetite. This is where global risk management solutions come into play, providing businesses with the tools, insights, and expertise to manage risks effectively and proactively.
BusinessRiskTV.com is an online platform that provides a range of risk management solutions and services to businesses worldwide. With a network of risk management experts and thought leaders, BusinessRiskTV.com offers a range of resources, including articles, videos, webinars, and tools, to help businesses understand, manage, and mitigate risks effectively. This article will explore some of the key global risk management solutions available on BusinessRiskTV.com and how they can help businesses navigate the complex and ever-changing risk landscape.
Enterprise Risk Management
Enterprise risk management (ERM) is a holistic approach to risk management that involves identifying, assessing, and managing risks across the entire organisation. ERM aims to create a risk-aware culture within the organisation, where risks are considered in all decision-making processes and integrated into the overall strategic planning process. BusinessRiskTV.com offers a range of resources on ERM, including articles, videos, and webinars, that can help businesses develop and implement an effective ERM strategy.
One of the key benefits of ERM is that it provides a comprehensive view of the risks faced by the organisation, allowing businesses to prioritise and allocate resources effectively. By identifying and assessing risks across all areas of the business, including operations, finance, and reputation, businesses can develop a more holistic understanding of their risk profile and take a more proactive approach to risk management.
Business Continuity Management
Business continuity management (BCM) is the process of identifying and managing risks that could disrupt normal business operations. BCM aims to ensure that businesses can continue to operate in the event of a disruption, whether caused by a natural disaster, cyber-attack, or other unexpected event. BusinessRiskTV.com offers a range of resources on BCM, including articles, videos, and webinars, that can help businesses develop and implement an effective BCM strategy.
One of the key benefits of BCM is that it can help businesses minimise the impact of a disruption on their operations and reputation. By developing a comprehensive business continuity plan, businesses can identify the critical functions and processes that must be maintained in the event of a disruption, as well as the steps needed to recover and resume normal operations. This can help businesses minimise the financial and reputational impact of a disruption, and ensure that they can continue to meet the needs of their customers and stakeholders.
Cyber Risk Management
Cyber risk management is the process of identifying, assessing, and managing risks related to information security and technology. With the increasing reliance on technology in business operations, cyber risks have become a major concern for businesses worldwide. Cyber risks can include data breaches, ransomware attacks, and other forms of cybercrime that can result in financial loss, reputational damage, and legal liabilities. BusinessRiskTV.com offers a range of resources on cyber risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective cyber risk management strategy.
One of the key benefits of cyber risk management is that it can help businesses protect their sensitive information and systems from cyber threats. By identifying and assessing cyber risks, businesses can implement appropriate security measures, such as firewalls, antivirus software, and employee training programs, to mitigate the risks. This can help businesses reduce the likelihood and impact of a cyber-attack, and ensure that their operations and reputation are protected.
Compliance and Regulatory Risk Management
Compliance and regulatory risk management involves identifying and managing risks related to compliance with laws, regulations, and industry standards. Compliance risks can arise from a variety of sources, including changes in legislation, non-compliance with industry standards, and breaches of contractual obligations. BusinessRiskTV.com offers a range of resources on compliance and regulatory risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective compliance and regulatory risk management strategy.
One of the key benefits of compliance and regulatory risk management is that it can help businesses avoid legal liabilities and reputational damage. By ensuring that they comply with relevant laws, regulations, and industry standards, businesses can demonstrate their commitment to ethical and responsible business practices. This can help businesses build trust with their customers and stakeholders, and enhance their reputation in the market.
Supply Chain Risk Management
Supply chain risk management involves identifying and managing risks related to the supply chain, including risks related to suppliers, logistics, and transportation. Supply chain risks can include disruptions caused by natural disasters, political instability, and changes in regulations. BusinessRiskTV.com offers a range of resources on supply chain risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective supply chain risk management strategy.
One of the key benefits of supply chain risk management is that it can help businesses minimise the impact of supply chain disruptions on their operations and reputation. By identifying and assessing supply chain risks, businesses can implement appropriate risk mitigation strategies, such as diversifying their supplier base, implementing contingency plans, and enhancing supply chain visibility. This can help businesses reduce the likelihood and impact of supply chain disruptions, and ensure that they can continue to meet the needs of their customers and stakeholders.
In today’s complex and dynamic business environment, managing risks effectively is essential for sustainable growth and profitability. BusinessRiskTV.com offers a range of global risk management solutions that can help businesses identify, assess, and manage risks across all areas of their operations. From enterprise risk management to supply chain risk management, BusinessRiskTV.com provides businesses with the tools, insights, and expertise they need to navigate the complex and ever-changing risk landscape.
By leveraging the resources available on BusinessRiskTV.com, businesses can develop and implement effective risk management strategies that are aligned with their overall objectives and risk appetite. This can help businesses protect their operations and reputation, avoid legal liabilities, and enhance their competitiveness in the market. In short, global risk management solutions available on BusinessRiskTV.com can help businesses navigate the complex and ever-changing risk landscape and achieve sustainable growth and profitability.
Subscribe to BusinessRiskTV for latest BI Risk Intelligence and global risk insight to your inbox for free
Follow BusinessRiskTV for free business risk management insight, risk knowledge and business intelligence. Understand global risks better. Inform your business decision-making for free. Network with business experts locally and globally to solve business problems quicker and cheaper.
Global risk insight to inform business decision making. Risk aware business intelligence to avoid mistakes and seize opportunities. Risk management expertise creates BI risk intelligence to reduce uncertainty and increase business confidence. Want to protect your business and pick the best opportunities for growth? BusinessRiskTV online business management community can help you overcome barriers to business success faster. Identify assess and control business risks better. Manage strategic operational and project risks in consultation with other business leaders and risk management experts.
Country risk experts
Industry risk experts
Innovative global risk insight and risk knowledge sharing
Avoid reduce transfer or accept risks in the right combination for your business. Understand the context with which you have to manage business risks.
BusinessRiskTV business connections and networking services can help your business grow faster with less uncertainty
Connect and engage with other business leaders and risk management experts online wherever you are in the world with WiFi connection
Gain risk insight into key critical risks impacting on your business objectives. Tap into risk management expertise more easily. More cost effectively address risk management problems. Evaluate business risks holistically. Connect with risk experts and collaborate in risk sharing workshops. Our risk expert network have a wide risk of risk management experience collectively. Shared solutions can be more cost effective.
Unleashing the Power of Global Networking: Advantages for Businesses
In today’s interconnected world, businesses are increasingly recognising the significance of global networking. Building connections and fostering relationships across borders has become a crucial strategy for organisations seeking growth, innovation, and a competitive edge. In this article, we will delve into the numerous advantages that global networking offers to businesses of all sizes and industries. By leveraging the power of connectivity, businesses can unlock new opportunities, gain valuable insights, and expand their reach on a global scale. Read on to discover how global networking can propel your business to new heights.
Enhanced Collaboration and Knowledge Sharing: Global networking opens the doors to collaboration with individuals and organisations from diverse backgrounds, cultures, and expertise. By connecting with professionals worldwide, businesses can tap into a vast pool of knowledge, insights, and perspectives. This exposure to different ideas and approaches fosters innovation and creativity within organisations.
Moreover, global networking provides opportunities to participate in conferences, seminars, and industry events, where experts and thought leaders share their expertise. These interactions enable businesses to stay updated with the latest trends, technologies, and best practices, enhancing their competitiveness in the global market.
Access to New Markets and Business Opportunities: One of the most significant advantages of global networking is the ability to access new markets and expand business opportunities beyond borders. By establishing connections with international partners, businesses can gain valuable insights into local markets, consumer preferences, and cultural nuances. This knowledge allows organisations to tailor their products or services to meet the specific needs of diverse markets, increasing their chances of success.
Furthermore, global networking provides a platform for businesses to showcase their offerings to a wider audience. Through cross-border collaborations, joint ventures, or strategic partnerships, companies can enter new markets with reduced risks and enhanced market knowledge. This enables them to tap into untapped customer segments, diversify their revenue streams, and drive sustainable growth.
Building a Stronger Brand and Reputation: Global networking offers businesses the opportunity to build a stronger brand and reputation on a global scale. By connecting with influential individuals and organisations, companies can enhance their visibility and credibility within their industry and beyond. Positive endorsements and collaborations with reputable international partners can significantly impact a business’s brand image and attract new customers.
Additionally, active participation in global networking events, industry forums, and online communities allows businesses to showcase their expertise, thought leadership, and unique value propositions. This exposure positions them as industry leaders and trusted authorities in their respective domains, further strengthening their brand reputation.
Recruitment of Global Talent: Global networking provides businesses with access to a vast talent pool from around the world. By establishing connections with professionals and organisations internationally, companies can tap into a diverse range of skills, experiences, and perspectives. This enables them to recruit top talent from different cultural and educational backgrounds, bringing fresh ideas and innovative approaches to their teams.
Moreover, global networking facilitates the identification of potential partners, suppliers, and collaborators who can contribute to a business’s growth and success. By connecting with like-minded professionals, businesses can build strategic relationships that foster innovation, create synergies, and drive mutual growth.
Global networking has emerged as a vital tool for businesses seeking growth, innovation, and success in the global marketplace. By leveraging the advantages of global networking, businesses can enhance collaboration, access new markets, build a stronger brand, and recruit top talent from around the world. Embracing a global mindset and actively participating in networking activities can open doors to unprecedented opportunities and pave the way for long-term success.
In an increasingly interconnected world, businesses cannot afford to operate in isolation. Establishing and nurturing global connections allows organisations to stay ahead of the curve and adapt to the rapidly changing global business landscape. Whether it’s through attending international conferences, leveraging online platforms, or forging partnerships with organisations worldwide, businesses can harness the power of global networking to propel their growth.
The advantages of global networking for businesses are undeniable. From enhanced collaboration and knowledge sharing to accessing new markets and business opportunities, building a stronger brand and reputation, and recruiting global talent, the benefits are vast. Embracing a global networking mindset is no longer a luxury but a necessity in today’s hyperconnected world.
To make the most of global networking, businesses should actively seek opportunities to connect with professionals, industry experts, and potential partners on a global scale. They can explore online networking platforms, join industry-specific communities, participate in international events and conferences, and establish strategic partnerships with organisations in different countries.
However, it’s essential to approach global networking with a genuine intent to build meaningful relationships and provide value to others. Networking is not just about self-promotion; it’s about establishing mutually beneficial connections and fostering a collaborative ecosystem.
By capitalising on the advantages of global networking, businesses can expand their horizons, tap into new markets, stay abreast of industry trends, and unlock innovation. In this fast-paced and interconnected world, building a strong global network is a powerful asset that can set businesses apart from the competition and pave the way for sustained success.
So, don’t wait any longer. Start exploring the world of global networking and unlock the limitless opportunities it offers to take your business to new heights of success in the global marketplace. Embrace the power of connectivity, foster collaborations, and position your business as a global player in your industry. The possibilities are endless when you dare to connect, engage, and grow on a global scale.
Collaboration in Crisis: Are You Leveraging Your Network? In times of crisis, your network can be your greatest asset. How do you collaborate with industry peers to manage risks? Share your best practices for leveraging relationships and fostering a culture of collaboration in crisis management. BusinessRiskTV.com #networkcollaboration #CollaborationNetwork #Collaboration #BusinessRiskTV #ProRiskManager
What is global risk?
What is global risk? Find out more about global risks to your business on BusinessRiskTV.
Unlock faster business growth with BusinessRiskTV.com
Taking more risks to achieve more success comes down to risk knowledge and business intelligence. A lack of risk knowledge leads to increased fear. This can result in missed opportunities to grow faster.
What are the potential costs of taking more risks?
What are the potential benefits of taking more risks?
How will taking more risks benefit your business?
What are the alternatives?
How much better would your business perform if the best case scenario came true?
What are the worst outcomes that could happen if you took extra risks and how could you reduce the risk?
How bad would it be if the worst case scenario risk event materialised?
What would your business look like in 5 years if your risk decisions were taken?
Assessing the risks incorporating both upside and downside risks will enable you to make more balanced business decisions to improve performance.
Risk Appetite and Risk Tolerance
Negativity bias means in part we focus more on stopping bad things from happening than creating the environment for great good things to happen. For example, we focus on stopping climate damage instead of investing money in better natural environment. We spend more money to risk control instead of seizing new business opportunities which create risk but also create more rewards for risk takers.
Welcome the threats in the 2020s as they bring opportunities
Embrace the opportunities in the new decade but be risk aware about the threats that come with the opportunities to grow. Work together with our network of business leaders and risk management experts to finish the 2020s better than you started.
Taking Risks To Achieve More In Business With BusinessRiskTV
Subscribe to BusinessRiskTV for freezing alerts and bulletins to your email inbox on how to grow your business faster with less uncertainty
Global and local business management trends with BusinessRiskTV.com
Emerging trends in business management debated risk analysed and risk controls reviewed. What emerging trends in business management must you know about today? Consumers and business decision makers have easy access to business intelligence so business leaders need to use business intelligence more in risk management strategy setting to grow faster. Due to the rapidly changing business environment and increased nationalism it may be better to have shorter supply chains. Alternatively restructure your supply chains to embrace new cost saving opportunities in supply.
Spot emerging trends before your competitors to protect your business better and grow business faster
BusinessRiskTV
Fully adopt new technology to react faster and lower business costs. Evolve more business from existing customers by engaging customers more in your business. Redfine they way you do business to do more business.
Identify and understand emerging risks better to inform your decision making quicker. Keep up to date with global and local trends in your industry and country. Tap into our risk management experts networks to solve business problems faster and cheaper.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews on emerging trends in business management
Promote and market your business on BusinessRiskTV for 12 months
Find out how to promote your business locally and globally. CLICK HERE or email [email protected] entering code #EmergingTrendsInBusinessManagementMarketing
Put your products or services in front of new people already interested in your type of business offering before your competitors do.
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Emerging Trends In Business Management Directory
Want to list your business on our Emerging Trends In Business Management Directory?
Are you running any deals discounts or special offers on emerging trends in business management you want more people to know about to grow your business faster?
Could you write an advertorial on emerging trends in business management to promote your business products or services whilst informing our readers?
Reach more new customers with BusinessRiskTV.
Click on Register Now or email [email protected] entering code #EmergingTrendsInBusinessManagementDirectory
UK business growth and development with BusinessRiskTV.com
Subscribe to BusinessRiskTV to connect and engage with like minded business leaders who wish to find new innovative ways to grow faster more profitably
The UK economy performed relatively well compared to most of Europe. The UK economy has been a job creation machine with record low unemployment levels over recent months. However UK productivity has been poor. UK business leaders need to find new innovative ways to do more business in the UK.
Find Out More About Business Innovation Opportunities and Ideas for Business Click Here
Reinvigorate local town and regional economies is the key for UK plc economic growth as a whole. BusinessRiskTV supports business start ups and SMEs seeking to grow faster with less uncertainty.
Whilst the London economy is the biggest net contributor to UK government receipts and UK economy as a whole the UK economy can grow faster if all parts of the economy receive equal investment. Recent years has shown that London has received a disproportionate level of investment per head of population. If the distribution of investment was more equitable per head of population then the UK pie as a whole will grow faster.
BusinessRiskTV promotes economic growth and regeneration across the UK. We will review efforts to stimulate economic development in the UK. In addition we can help your business with its business development and growth strategy.
Read business development articles and watch videstream trending on BusinessRiskTV
Startup Success Factors
10 Key Success Factors for Startups: Unlocking the Path to Growth and Prosperity
Startups are the lifeblood of innovation, driving economic growth and fostering entrepreneurial spirit. However, the journey to success is fraught with challenges and risks that can deter even the most promising ventures. To navigate this treacherous landscape, startups must possess a keen understanding of the key success factors that can make or break their endeavors. In this article, we will explore ten essential factors that contribute to startup success, while also highlighting the role that BusinessRiskTV.com can play in supporting startups on their path to prosperity.
Clear Vision and Value Proposition:
A compelling vision, coupled with a well-defined value proposition, serves as the foundation for any successful startup. Entrepreneurs must have a clear understanding of their mission and purpose, enabling them to articulate their unique offering to customers, investors, and employees. BusinessRiskTV.com can provide guidance on refining value propositions and leveraging market insights to enhance a startup’s competitive edge.
Market Analysis and Validation:
Thorough market analysis is essential to identify target customers, assess competition, and evaluate market potential. Startups must validate their assumptions through market research, customer feedback, and pilot testing. BusinessRiskTV.com offers valuable resources and industry knowledge that can assist startups in conducting market research, identifying market gaps, and aligning their product or service offerings with market demand.
Effective Leadership and Team Building:
Building a talented and dedicated team is crucial for a startup’s success. Entrepreneurs must possess strong leadership skills, the ability to inspire and motivate, and a willingness to delegate responsibilities. BusinessRiskTV.com provides insights on effective leadership practices, team-building strategies, and talent acquisition to help startups build high-performing teams.
Scalable Business Model:
A scalable business model is vital for startups aiming to achieve rapid growth. The model should allow for expansion without significant increases in costs. BusinessRiskTV.com can assist startups in developing scalable business models by providing access to industry benchmarks, expert advice, and case studies of successful scaling strategies.
Financial Planning and Resource Management:
Startups must effectively manage their financial resources and develop a robust financial plan to ensure sustainability. BusinessRiskTV.com offers guidance on financial planning, fundraising strategies, and cost optimisation to help startups navigate the complexities of financial management.
Agility and Adaptability:
Startups must be agile and adaptable to respond to changing market dynamics, customer needs, and technological advancements. They should embrace a culture of experimentation and be willing to pivot when necessary. BusinessRiskTV.com promotes agile methodologies, innovation practices, and disruptive thinking, enabling startups to adapt quickly to the evolving business landscape.
Customer-Centric Approach:
Putting customers at the core of their operations is essential for startups. Understanding customer pain points, delivering exceptional experiences, and constantly seeking feedback are critical components of a customer-centric approach. BusinessRiskTV.com offers insights into customer behavior, customer journey mapping, and strategies for building customer loyalty, empowering startups to cultivate strong and lasting customer relationships.
Strategic Partnerships and Networks:
Collaborating with strategic partners and building strong networks can provide startups with access to resources, expertise, and new market opportunities. BusinessRiskTV.com facilitates networking and partnership building by connecting startups with potential investors, mentors, and industry experts, thereby expanding their reach and fostering growth.
Effective Marketing and Branding:
Creating brand awareness and implementing effective marketing strategies is crucial for startups to attract customers and stand out in a crowded marketplace. BusinessRiskTV.com offers guidance on marketing techniques, digital strategies, and branding initiatives, helping startups establish a strong brand presence and gain a competitive edge.
Continuous Learning and Adaptation:
Startups must embrace a culture of continuous learning and improvement. Actively seeking knowledge, staying updated with industry trends, and being open to feedback are essential for long-term success. BusinessRiskTV.com provides access to a wealth of business resources, educational content, and networking opportunities, empowering startups to acquire new skills and stay ahead of the curve.
Startups face numerous challenges on their path to success, but by understanding and implementing these ten key success factors, entrepreneurs can significantly enhance their chances of growth and prosperity. BusinessRiskTV.com serves as a valuable resource for startups, offering support, expertise, and guidance across various domains. Leveraging the resources and insights provided by BusinessRiskTV.com, startups can navigate the uncertainties and mitigate risks, ultimately accelerating their journey towards achieving their goals.
Help to complete your own business risk assessment to be better prepared for your future
Understanding your business risk profile is an important step to making better risk based business management decisions. Identify the threats and opportunities your business faces now or will do in future. Assess the risks of this uncertainty to your business objectives. Your resulting business risk profile will help you make better business decisions. Focus your limited business resources on the risks which will bring you greatest reward of business resilience and business growth.
Enterprise Wide Risk Assessment For Faster Business Growth With Best Use Of Business Assets
Profiling your business risks will help you to stop wasting time and money. You can also use your business risk profile to monitor the impact or lack of impact on your business performance.
Prepare for and manage key business risks your business faces today and tomorrow. Learn from past business risk management events your business experienced or other businesses experienced so you do not have to.
Make sure all your employees know your critical business risks. Create a more effective business risk management framework to allocate responsibilities and accountability for managing business risks.
Your business risk profile should not be a one off exercise. It should not just sit in a file with a to do list ticked. Use your own business risk to mitigate potential threats and maximise business development opportunities. Holistically manage the whole business with the best use of available existing business resources.
Enterprise risk management methodology should be applied to strategic operational and project uncertainties. Inform your decision making process with the whole picture not just part.
Subscribe to BusinessRiskTV for free alerts and bulletins to protect your business better and grow faster
Subscribe to BusinessRiskTV for free alerts and bulletins on the latest business threats and opportunities for growth to your inbox
Understand business risks. Explore the key factors that lead to successful business. Apply the relevant risk management measures. Take the risk first before the competition clicks on.
Click on Like Button to follow us on your favourite social media App; or subscribe for free enterprise risk management newsletter by emailing [email protected]
Risk Appetite and Risk Tolerance enter code #RiskAppetite
There are a number of key factors that led to successful business. Successful business leaders understand that being in business is about managing the risks from change. Unsuccessful business leaders tend to blame their failures on economic climate changes and their successes on their brilliant business management skills!
The UK retail sector is suffering major painful changes. Tens of thousands of jobs have been lost as major retailers collapsed or contracted. Yet the UK retail marketplace has some examples of major retailers bucking this trend blamed on the UK economy by unsuccessful retail business managers.
By applying their risk management knowledge successful businesses can act quicker and with more confidence it will work out
BusinessRiskTV
Not taking risks is not an option for most business leaders. However many risk factors coming together can appear daunting. Enterprise risk management looks at the big picture and helps you identify the steps to a better business in future.
Find out how to improve your chances of business success with BusinessRiskTV. Take calculated risks to help your business grow faster with less uncertainty. Embrace change and the risks to your business.
Business risk assessment elements should fit your business culture. Some people do not like numbers. Some do. Your business risk assessment template should reflect the culture of your organisation.
A business risk assessment is a systematic process that helps organisations identify, evaluate, and prioritise risks that may impact their operations, financial performance, and reputation. It is an essential tool for managing risk and ensuring the long-term viability of a business.
There are several key elements that a business risk assessment should include:
Identifying the risks: The first step in the risk assessment process is to identify the potential risks that the business may face. This can include internal risks, such as operational inefficiencies or employee misconduct, as well as external risks, such as market changes or natural disasters.
Evaluating the risks: Once the risks have been identified, the next step is to evaluate their potential impact on the business. This includes considering the likelihood of each risk occurring, as well as the potential consequences if it does.
Prioritising the risks: After evaluating the risks, the next step is to prioritise them based on their potential impact on the business. This will help the organisation focus its resources on the most significant risks and develop strategies to mitigate them.
Developing risk management strategies: Once the risks have been prioritised, the next step is to develop strategies to mitigate them. This can include implementing control measures to prevent or reduce the likelihood of risks occurring, or transferring the risk to another party through insurance or other means.
Monitoring and reviewing the risks: The risk assessment process is ongoing and should be regularly reviewed and updated to ensure that it remains relevant and effective. This includes monitoring the risks and identifying any new or emerging risks that may have arisen since the last assessment.
In summary, a business risk assessment should include the following key elements:
Identifying the risks
Evaluating the risks
Prioritizing the risks
Developing risk management strategies
Monitoring and reviewing the risks
Every business faces risks that could be a threat to its success
The business leaders who are better prepared for these risks and have a cost effective risk management plan and business strategy are more likely to be more successful.
Enterprise Wide Risk Assessment For Faster Business Growth With Best Use Of Business Assets
Develop a suitable risk assessment process to assist with your risk management plan preparation. Review your existing risk management process to ensure it is fit for purpose in a rapidly changing marketplace. Successful entrepreneurs have a good strategic operational and project risk management attitude and business culture that is flexible enough to cope with any economic environment.
There are numerous factors that can contribute to the success of a business. Here are some key factors that are often considered critical for building and maintaining a successful business:
Clear Vision and Strategy: A successful business requires a clear vision and a well-defined strategy. This includes setting goals, defining the direction of the business, and developing a roadmap to achieve those goals.
Market Research and Understanding Customer Needs: Understanding the market and identifying customer needs are essential for success. Conducting thorough market research, identifying target customers, and tailoring products or services to meet their needs is critical in building a successful business.
Strong Leadership: Effective leadership is crucial for the success of any business. It involves providing direction, making decisions, motivating employees, and fostering a positive work culture. Strong leadership skills help in guiding the business through challenges and achieving the desired outcomes.
Financial Management: Proper financial management, including budgeting, cash flow management, and financial planning, is vital for the long-term success of a business. Sound financial management practices help in ensuring that the business remains financially stable and can weather economic uncertainties.
Quality Products or Services: Delivering high-quality products or services is essential for building a loyal customer base. Providing value to customers and consistently meeting or exceeding their expectations builds trust and helps in retaining customers, which is critical for the success of any business.
Effective Marketing and Branding: Successful businesses understand the importance of effective marketing and branding. Creating a strong brand presence, developing marketing strategies to reach the target audience, and promoting products or services effectively can lead to increased visibility, customer acquisition, and revenue growth.
Innovation and Adaptability: In today’s dynamic business environment, innovation and adaptability are crucial for success. Successful businesses continuously innovate, adapt to changing market trends, and find new ways to stay relevant and competitive in the market.
Efficient Operations and Processes: Streamlining operations and processes can improve efficiency, reduce costs, and enhance customer satisfaction. Implementing effective systems and processes, optimising the supply chain, and leveraging technology can lead to improved productivity and operational excellence.
Talented and Engaged Workforce: A skilled and motivated workforce is vital for the success of any business. Hiring and retaining top talent, providing opportunities for growth and development, fostering a positive work culture, and promoting employee engagement can lead to higher productivity and overall business success.
Customer Relationship Management: Building strong customer relationships is crucial for long-term success. Providing excellent customer service, maintaining open lines of communication, addressing customer feedback, and building customer loyalty are key factors that contribute to the success of a business. These are some of the key factors that can contribute to the success of a business. However, it’s important to note that success is multifaceted and can vary depending on the industry, market, and individual circumstances. It’s essential to carefully plan, execute, and continuously adapt to changing circumstances to achieve long-term business success.
Strategic Partnerships and Networking: Collaborating with strategic partners and building a strong network can provide valuable opportunities for business growth. Strategic partnerships can help access new markets, share resources, and leverage complementary strengths, while networking can lead to new business leads, partnerships, and valuable industry insights.
Risk Management: Successful businesses recognize the importance of managing risks. This includes identifying and mitigating potential risks, having contingency plans in place, and being prepared to handle unexpected challenges. Effective risk management can help protect the business from potential setbacks and ensure its resilience.
Flexibility and Adaptability: Business environments can change rapidly, and successful businesses are agile and adaptable. Being open to change, willing to pivot when necessary, and embracing innovation can help a business stay ahead of the competition and navigate through uncertainties.
Continuous Learning and Improvement: Successful businesses are always learning and improving. Keeping up with industry trends, staying updated with technology, and seeking feedback from customers and employees can provide valuable insights for making informed decisions and driving continuous improvement.
Strong Customer Focus: Putting the customer at the center of the business is crucial for success. Understanding customer preferences, delivering excellent customer experiences, and building customer loyalty can lead to repeat business, positive word-of-mouth, and a strong brand reputation.
Ethical and Responsible Business Practices: Operating with integrity, practicing ethical business standards, and being socially responsible can build trust and credibility with customers, employees, and other stakeholders. Demonstrating responsible business practices can contribute to long-term success and sustainability.
Resilience and Persistence: Building a successful business is not always easy, and setbacks and failures are inevitable. Successful businesses demonstrate resilience, learn from failures, and persist in the face of challenges. Perseverance, determination, and the ability to bounce back from setbacks are key traits of successful entrepreneurs.
Long-term Planning and Goal-setting: Having a long-term vision and setting realistic goals is important for business success. Long-term planning allows for strategic decision-making, resource allocation, and monitoring progress towards achieving business objectives.
Adapting to Digital Transformation: In today’s digital age, successful businesses embrace digital transformation. This includes leveraging technology for automation, digital marketing, data analysis, and online presence to stay competitive and meet changing customer preferences.
Monitoring and Measuring Key Performance Indicators (KPIs): Successful businesses monitor and measure key performance indicators (KPIs) to track progress, identify areas for improvement, and make data-driven decisions. Regularly analysing KPIs provides insights into the health and performance of the business and helps in making informed decisions.
In conclusion, building and maintaining a successful business requires a combination of various factors. It’s important to have a clear vision, understand the market and customer needs, demonstrate effective leadership, manage finances wisely, deliver quality products or services, market and brand effectively, innovate, and adapt to changing environments. Additionally, building a strong team, managing risks, focusing on customer satisfaction, practicing responsible business ethics, and being resilient and persistent are key factors that contribute to long-term business success.
Business problem solving tools from BusinessRiskTV.com
View Marketplace For Business Experts
How to solve business problems effectively. Problem solving tools and techniques to help your business grow faster and more resiliently. Find out how to solve your business problems. Network with top risk leaders. Learn how to solve business problems online.
Promote and market your business consultancy or problem solving business on BusinessRiskTV for 12 months
Find out how to promote your business locally and globally
Put your products or services in front of new people already interested in your type of business offering before your competitors grab your potential sales.
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Read business management articles and view videostream trending on BusinessRiskTV
Subscribe to BusinessRiskTV for free alerts and bulletins on upcoming webinars and risk expert panel questions and answers
Business experts share corporate risk management knowledge. Avoid procrastination and make better business decisions. Grow your business faster.
Network with our community of business experts to help protect your business and grow it faster with less uncertainty
Find risk management consultants you need for your business. Our business risk management experts can answer your questions provide advice and provide risk insight.
Our experts panel online events are designed to help your business grow faster. Access good business risk management advice on the risks in your country and industry. Develop and protect your business better. Find answers to questions about your own business risks. Ask the experts.
Do you need advice from an expert?
In the world of business, making the right decisions can be the difference between success and failure. Business owners must be able to weigh the potential risks and rewards of each decision before taking action. But with so many variables to consider, making good business decisions can be a daunting task. Fortunately, BusinessRiskTV.com is here to help. In this article, we’ll explore the importance of good business decisions and how BusinessRiskTV.com can help you make them.
Why Good Business Decisions are Important
Making good business decisions is essential for the long-term success of any company. Here are a few reasons why:
Maximising profits: Good business decisions can help you maximise your profits by identifying opportunities to cut costs, increase revenue, and improve efficiency.
Mitigating risks: Every business decision involves some level of risk. Making good decisions can help you identify and mitigate potential risks, reducing the likelihood of financial losses.
Building trust: Making good decisions can help build trust with customers, employees, and investors. By demonstrating your ability to make sound decisions, you can inspire confidence in your stakeholders and build a positive reputation for your company.
Improving innovation: Good business decisions can lead to innovative ideas and solutions, helping your company stay ahead of the competition.
How BusinessRiskTV.com can Help
BusinessRiskTV.com is an online platform designed to help businesses manage risks and make informed decisions. Here are some of the ways BusinessRiskTV.com can help you make good business decisions:
Risk Management Tools: BusinessRiskTV.com provides a wide range of risk management tools to help you identify, assess, and mitigate potential risks. These tools can help you make informed decisions based on data-driven insights.
Expert Advice: BusinessRiskTV.com provides access to a network of experts in various industries. These experts can offer valuable insights and advice on how to make informed business decisions.
Industry Insights: BusinessRiskTV.com provides access to a wealth of industry insights and data. By staying up-to-date with the latest trends and developments in your industry, you can make informed decisions that give you a competitive edge.
Training and Education: BusinessRiskTV.com provides training and education resources to help you and your team improve your decision-making skills. By developing your ability to make informed decisions, you can improve the overall performance of your company.
Examples of Good Business Decisions
Let’s take a look at some real-world examples of good business decisions:
Apple’s Decision to Focus on Design: In the early 2000s, Apple made the decision to focus on design, creating products that were both aesthetically pleasing and functional. This decision helped Apple differentiate itself from competitors and build a loyal customer base.
Netflix’s Decision to Move into Original Content: In 2013, Netflix made the decision to move into original content, producing shows like House of Cards and Orange is the New Black. This decision helped Netflix reduce its reliance on licensed content and establish itself as a major player in the entertainment industry.
Amazon’s Decision to Invest in Technology: Amazon has consistently invested in technology, from its early days as an online bookseller to its current position as a leading e-commerce and cloud computing company. This decision has helped Amazon stay ahead of the competition and maintain its position as a market leader.
Coca-Cola’s Decision to Expand into New Markets: Coca-Cola has a long history of expanding into new markets, from its early days in the United States to its current position as a global brand. This decision has helped Coca-Cola maintain its position as one of the world’s most recognisable brands.
Ford’s Decision to Introduce the Model T: In 1908, Ford made the decision to introduce the Model T, a car that was affordable and easy to produce. This decision revolutionised the automobile industry, making cars accessible to the average person and transforming transportation as we know it.
These examples demonstrate the importance of making good business decisions and the impact they can have on a company’s success.
Making good business decisions is essential for the long-term success of any company. By identifying and mitigating potential risks, maximising profits, building trust, and improving innovation, good business decisions can help companies stay ahead of the competition and achieve their goals.
BusinessRiskTV.com is an online platform designed to help businesses manage risks and make informed decisions. By providing access to risk management tools, expert advice, industry insights, and training and education resources, BusinessRiskTV.com can help companies make informed decisions that drive their success.
So if you want to make good business decisions, turn to BusinessRiskTV.com. With its wealth of resources and expert guidance, you can make informed decisions that help your company achieve its goals and thrive in today’s competitive business landscape.
Business improvement planning with BusinessRiskTV.com
Subscribe to BusinessRiskTV for free alerts and bulletins to your email inbox on practical ways to improve your business performance
Setting the wrong business strategy can destroy your great business. Enterprise risk management principles and practices will help you understand your business risks better. Improve your business risk management strategy with BusinessRiskTV.
Make better business decisions more often with less uncertainty.
Misconception Of Actual Real Risks Can Destroy A Good Business
Promote and market your business more profitably for 12 months
Targeted Marketing Investment To Hit The Potential Buyers You Need To Grow Your Business Faster
Read risk management articles and watch videostream trending on BusinessRiskTV
Guide To Problem Solving With BusinessRiskTV
Common Biz Problems & Solutions
Common Business Problems: Impediments and the BusinessRiskTV Guide to Problem Solving
Running a business is an intricate endeavour filled with various challenges. From startup ventures to well-established corporations, businesses face a range of problems that can hinder their growth, profitability, and overall success. Recognising and addressing these issues promptly is crucial to ensure the longevity and prosperity of any organisation. In this article, we will explore some common business problems, discuss why they impede businesses, and present the BusinessRiskTV Guide to Problem Solving.
I. Financial Constraints
One of the most prevalent issues faced by businesses is financial constraints. Limited access to capital, cash flow problems, and high operating costs can cripple an organisation’s ability to invest, expand, and innovate. Insufficient funding can prevent businesses from hiring top talent, acquiring necessary resources, and adapting to market changes. Without a strong financial foundation, companies may struggle to remain competitive and sustain their operations in the long run.
II. Lack of Innovation
Innovation is vital for businesses to stay relevant and competitive in today’s dynamic market. However, many organisations face the challenge of stagnation and a lack of innovation. This problem can arise due to a rigid organisational structure, resistance to change, or a failure to allocate resources for research and development. Without a focus on innovation, businesses may fail to keep up with evolving customer demands and technological advancements, ultimately losing their competitive edge.
III. Ineffective Marketing and Branding
Marketing and branding play a significant role in shaping a business’s perception among consumers. However, many companies struggle with developing effective marketing strategies and building a strong brand identity. Inadequate market research, ineffective communication, and a lack of brand consistency can lead to low customer engagement, reduced sales, and difficulty in attracting new customers. Without a robust marketing and branding approach, businesses may fail to differentiate themselves from competitors and struggle to establish a loyal customer base.
IV. Poor Customer Service
Customer satisfaction is paramount to the success of any business. However, poor customer service can drive customers away and damage a company’s reputation. Insufficiently trained staff, unresponsive customer support, and ineffective complaint resolution processes can create negative experiences for customers. This can result in lost sales, diminished customer loyalty, and negative word-of-mouth publicity, all of which can have a significant impact on a business’s bottom line.
V. Operational Inefficiencies
Operational inefficiencies can arise from various factors, including ineffective processes, poor supply chain management, and inadequate resource utilisation. These inefficiencies lead to delays, increased costs, and reduced productivity. Over time, they can result in decreased customer satisfaction, decreased profit margins, and a loss of competitive advantage. Addressing operational inefficiencies is crucial for optimising business performance and ensuring smooth operations.
VI. Human Resources Challenges
Managing human resources can be a complex task for businesses. Challenges such as attracting and retaining top talent, fostering employee engagement, and addressing conflicts within the workplace can impede productivity and hinder organizational growth. Failure to create a positive work culture and provide opportunities for professional development can lead to high turnover rates and a loss of valuable expertise. Investing in human resources and addressing these challenges is essential for building a motivated and skilled workforce.
BusinessRiskTV Guide to Problem Solving
To overcome the common business problems outlined above, the BusinessRiskTV Guide to Problem Solving offers a systematic approach to identify, analyse, and address issues effectively. Here are the key steps of the guide:
Problem Identification: Thoroughly examine your business operations and identify the specific problems hindering growth and success. This could involve conducting surveys, analysing data, and soliciting feedback from employees and customers.
Root Cause Analysis: Determine the underlying causes of the identified problems. Look beyond surface-level symptoms to identify the core issues impacting your business. Use tools such as the “Five Whys” technique to delve deeper into the root causes of the problems.
Prioritisation: Prioritise the identified problems based on their potential impact on the business and the feasibility of addressing them. Focus on tackling the most critical issues first to maximise the positive impact on your organisation.
Collaborative Approach: Involve key stakeholders, including employees, managers, and customers, in the problem-solving process. Embrace diverse perspectives and encourage open communication to gain a comprehensive understanding of the problems and potential solutions.
Solution Generation: Brainstorm potential solutions to address the identified problems. Encourage creativity and innovation during this stage. Consider both short-term fixes and long-term strategies that align with your business goals.
Evaluation and Selection: Evaluate each potential solution based on its feasibility, cost-effectiveness, and alignment with your business objectives. Select the solutions that are most likely to deliver positive results and address the root causes of the problems effectively.
Implementation: Develop a detailed action plan for implementing the selected solutions. Assign responsibilities, set deadlines, and allocate necessary resources. Communicate the plan to all stakeholders and ensure everyone is aligned and committed to the implementation process.
Monitoring and Evaluation: Continuously monitor the progress of the implemented solutions and evaluate their effectiveness. Use key performance indicators (KPIs) to measure the impact of the solutions on your business. Make adjustments as needed to optimise the outcomes.
Continuous Improvement: Problem-solving should be an ongoing process. Regularly review your business operations, gather feedback, and seek opportunities for improvement. Foster a culture of continuous learning and adaptation within your organization.
Common business problems can impede an organisation’s growth and success. However, by recognising these challenges and implementing effective problem-solving strategies, businesses can overcome these obstacles and thrive. The BusinessRiskTV Guide to Problem Solving provides a structured approach to identify, analyse, and address problems systematically, empowering businesses to make informed decisions and drive positive change. By prioritising problem-solving and embracing a culture of continuous improvement, businesses can overcome challenges, enhance their competitiveness, and pave the way for long-term success.
Do you want to invest in your business future today
Subscribe to BusinessRiskTV for free alerts and bulletins on business innovation and growth ideas
Our future is here. We need to invest hard cash into the money innovative ideas that are just seedlings. In addition we need to invest money on old ideas that have legs but no backers. There are enormous opportunities for business and economic growth. Trouble is that we are still trying to make the obsolete ideas work for us now.
Product recall experts protecting customers and brands on BusinessRiskTV
Find out more about the latest product recalls. Discover how to protect your business or life. Identify risks and understand how you are exposed.
Want all the latest product recall risk management news and product risk analysis for your country and industry? Sign up to our BusinessRiskTV newsletter, Business Risk Alerts and Business and Economic Risk Reports email [email protected] or follow us on your favourite social media account.
Explore risk management problems and solutions. Do you work in risk management, or need more growth with less uncertainty? Are you interested in enterprise-wide business solutions for your business problems, or looking to save money and time on business risk management? Do you want to connect with enterprise risk management experts or other buyers of enterprise risk management services? Subscribe for free to BusinessRiskTV now email [email protected] now or follow us on your favourite social media account now.
Subscribe to BusinessRiskTV Product Recall Alerts and Bulletins
Promote and market your business on Product Recalls Risk Management
Business Marketing Solutions From BusinessRiskTV
30th April 2020 Another 55000 Washing Machines in UK Homes Should Stop Being Used and Need Repairing or Replacing Owing to a Fire Risk
An extra 21 models have been added to the list of 524000 Hotpoint and Indesit washing machines being recalled. Whirlpool owns the washing machine brands. The product recall programme was ongoing despite coronavirus restrictions. The total number of models affected is 66.
About 20 percent of the Hotpoint and Indesit washing machines sold since 2014 are affected by a safety fault and need to be recalled.
BusinessRiskTV
79 fires are thought to have been caused by an overheating door locking system in the washing machine. The fault develops over time according to Whirlpool.
Owners of Hotpoint and Indesit washing machines bought since October 2014 will need to enter the model and serial number of their appliance found inside the door or on the back to see if it is one of those affected. Those who have previously checked and been given the all clear may need to check again due to the new models with faults added to fault affected list. Slots for a modification or replacement machine are available straight away.
All owners affected by the recall are entitled to a replacement washing machine or a repair to their existing appliance without charge but there is no offer from the company of a refund. They should stop using it until an engineer has checked it if necessary restrict its use to a cold wash.
4th March 2020 Toyota Motor Corp Recalling 3.2 Million Vehicles Worldwide To Address Fuel Pump Issue That Could Result In Engines Stalling.
Dealers will replace the fuel pumps with new ones.
Owners have complained of rough engine running engine not starting and loss of power while driving at low speeds.
21st November 2019 Fiat Chrysler Recalling 700000 sport utility vehicles SUVs worldwide due to faulty electrical connection could prevent engine starts or contribute to a stall
The automotive product recall covers 2011 to 2013 model year for Dodge Durango and Jeep Grand Cherokee SUVs. Fiat Chrysler are unaware of any injuries or accidents related to the fault and will notify owners at a later date when they will be able to schedule repairs at car dealerships.
Most of the vehicles being recalled are in USA. The rest are spread around the world including but not limited to Canada and Mexico.
20th July 2019 Dangerous Tumble Dryer Product Recall
Whirlpool is launching a full recall of any remaining fire prone tumble dryers. For 4 years now Whirlpool have resisted calls to recall tumble dryers when the fault emerged.
Tumble dryer brands affected include Hotpoint Indesit Creda Swan and Proline bought between April 2004 and September 2015 in UK.
BusinessRiskTV
For more information on what to do if you bought a tumble dryer call 0800 151 0905 or visit CLICK HERE. Check if your tumble dryer is affected. If it is on the product recall list stop using it and unplug it immediately.
Options for tumble dryer owners include:
Obtain a free replacement dryer with no extra charges for collection or disposal of the old machine
Get a free one hour modification of the old machine
Take a discounted upgrade to a higher specification model than the free replacement
Obtain a partial refund of up to 150 pounds with owners of older machines getting less than those with newer ones
If your tumble dryer has already been modified as a safety upgrade you may not be able to take advantage of above options but call the helpline to double check.
#UKfiresafety
20th July 2019 Volvo Product Recall 500000 Worldwide
Volvo car manufacturer has concerns of fire risk. A plastic part of the engine can melt and deform and in extreme cases catch fire.
The product recall affects some cars made in the past five years. Volvo will contact affected customers.
There have been Volvo car fires as a result though no one has been injured.
BusinessRiskTV
Volvo has reported how many fires have occurred as a result of the defect. The product defect affects cars from the models years 2014 to 2019 with four-cylinder diesel engines.
Car owners have been told that vehicles are safe to use if the car is not currently showing signs of a problem including engine warning light coming on lack of power from engine or an unusual smell.
How to be a problem solver for your business with BusinessRiskTV
Subscribe to BusinessRiskTV for free alerts and bulletins on business risk management news opinions and reviews
Overcome barriers to business success more easily. Collaborate with business risk management experts to save time and money. Get ahead of your competition more profitably.
Helping Clients and Risk Partners Solve Complex Business Problems
Using risk knowledge work experience and risk management skills we can solve most business problems related to business protection and growth. Our passion for problem solving uses problem solving risk analysis tools and determination to work practically and pragmatically to get the desired result for our clients.
Using our passion for problem solving to manage real life business problems faster and cheaper
Our passion for entrepreneurial problem solving has driven a more creative and innovative strategy to help overcome common issues most business leaders face.
We have combined this passion with a practical purposeful actions to open up the world to BusinessRiskTV and its clients. We have embraced the many tools and techniques at our disposal to enable us to provide business solutions to many barriers to being a more successful business.
Our passion for problem solving has led us to offer some business solutions for free whilst charging a fee for other business services to ensure our own sustainability.
Recommended business problem solving articles training and videos
Latest risk management training with BusinessRiskTV risk management training academy-“Unveiling the Problem-Solving Process: How It Empowers Businesses”
Introduction
The importance of problem-solving in business contexts.
Understanding the Significance of Problem Solving
Explore why effective problem-solving is crucial for a business’s success.
Discuss how it can lead to better decision-making and innovation.
How Your Company Approaches Problems
Explain your company’s problem-solving philosophy and principles.
Highlight the emphasis on collaboration and cross-functional teams.
The Problem-Solving Process
A step-by-step breakdown of your company’s problem-solving process.
Detail each stage, from problem identification to solution implementation.
Leveraging Data and Analysis
Emphasise the role of data-driven decision-making in problem-solving.
Discuss how your company utilises data to understand problems better.
Encouraging a Culture of Innovation
Fostering an innovative culture contributes to effective problem-solving.
Examples of successful innovations resulting from this approach.
Adapting to Change and Challenges
Illustrate how your company tackles unexpected challenges through problem-solving.
Highlight the flexibility and adaptability of the process.
The Impact of Problem-Solving on Business Growth
Case studies or success stories showcasing the tangible impact of problem-solving.
Discuss how problem-solving contributes to overall business growth.
Feedback and Continuous Improvement
Emphasise the importance of feedback loops in the problem-solving process.
Explain how your company continuously improves its approach based on feedback.
Conclusion
Summarise the key points discussed.
Reiterate the value of problem-solving for your company’s growth and success.
Subscribe to BusinessRiskTV business risk management news bulletin to inform your decision-making.
Subscribe to BusinessRiskTV.com for free
Why is risk management in the news today? Latest business risk management news headlines opinions and business reviews. Top business videos live and on demand. Pick up tips advice and support to inform your business decision making process. Network with key business risk management thought leaders around the world.
Subscribe to BusinessRiskTV Business Risk News for free to receive alerts and bulletins
Enterprise risk management tools and solutions on BusinessRiskTV
Partner with BusinessRiskTV Influencer Marketing services. Collaborate with BusinessRiskTV to get your business risk management business noticed more. Make your influencer marketing budget go further to increase revenue.
Maximise your return of investment in your marketing and advertising with BusinessRiskTV.
BusinessRiskTV
Develop the right content to showcase your business products and services. BusinessRiskTV moves away from the traditional term of influencer. We work with key business risk management influencers in country risks and industry risks as well as holistic risk management influencers.
We team up with top business risk management influencers to promote your business interests in an ethical and transparent way.
Understand risks facing your business better
Make your brand stand out in a positive way
Helping brands and influencers build lasting partnerships
Use Influencer Marketing to enhance your brand communication
BusinessRiskTV immerses itself in business risk management trends. We build connections with the top business thought leaders around the world. Helping your brand join the conversation at the right time. Promote your brand in the best way.
Improving risk management process and culture with BusinessRiskTV
Top business risk experts share risk management tips advice and support. We look forward to connecting more risk experts with business leaders. Solve business problems faster and more profitably with BusinessRiskTV.
Receive email alerts to upcoming events workshops and online risk management discussions to manage risks better.
Network with key business leaders around the world to improve the way you manage risks
Continual risk management learning opportunities on BusinessRiskTV. Access support via our expanding online resources of risk knowledge webcasts and other free risk management material. We support your own agenda for continued professional development.
Improve your risk management capability risk knowledge and business risk management culture with BusinessRiskTV risk experts.
Improve your customer satisfaction
Boost business performance
Share risk management knowledge
Work together with BusinessRiskTV to achieve your own business objectives.
Improving strategic risk management withing financial services industry in UK with BusinessRiskTV
Subscribe to BusinessRiskTV for free today
Strategic risk decision making in financial services industry is not complicated but it is complex. Reduce the complexity to what matters to your business in the financial services sector.
Become more efficient and productive
Build greater business resilience
Improve business performance
Failing to be innovative and creative in the financial services sector may place your business at a competitive disadvantage. However innovation and creativity brings added risk. Is that added risk with it? Enterprise risk management ERM approach will help you decide.
In addition ERM risk based decision making will help you protect your financial services business better. Align your business strategy with best practice risk management tools and techniques to reduce strategic operational and project risks.
Regulatory compliance increased investor engagement and expectations and increasingly volatile geopolitical risks makes investing for the future and management of investment risks harder
BusinessRiskTV
The future of financial services industry risk management is also changing with artificial intelligence divergent regulatory controls and splintering risk culture ambitions driving changes in practice.
Keep up to date with best risk management tools and techniques to improve your business decision making. The financial financial crisis is beginning. We just do not know where it started and what we are doing wrong. However being prepared for the next financial crisis should be part of a holistic enterprise risk management approach.
Chances are that fintech will play a role in the next financial crisis. Technology risks are a key risk factor for business growth and disaster for financial services companies in particular.
Lack of need to control risks will also play a role in the next financial crisis. The financial services industry has found it near impossible to manage its own risks without regulatory control. Dissipation in regulatory control will precipitate the financial services industry lunging over the cliff.
The fact that the financial services sector has still not recovered from the last financial crisis is another reason that another financial crisis will occur. ItalianChinese and Indian banks are in particular bursting at the seems with near unmanageable debt levels. Add to that boiling frothing pot of junk political instability in EuropeAsia and Americas then you have a perfect storm waiting to be unleashed.
Should we withdraw from business or investing? Of course not. It has always been thus. It has always been about the survival of the fittest. However what has changed is that there is increased realisation that the fittest are those businesses and investors who invest in socially responsible investing. Environmental social and governance risk factors are at play. The strongest are the ones who embrace this philosophy.
A holistic enterprise risk management approach to business management and investing is the future. If you are waiting to look back and acknowledge that with hindsight you will be one who suffers most from the next financial crisis. You may not survive the long term. If you are not looking to the long term then good luck to you. You might get lucky. If you are looking for long term sustainability get on the holistic enterprise risk management boat today. Create long term value through enterprise risk management today not tomorrow.
Helping to connect key business leaders online
Finding the latest best business practices can be time consuming or unfruitful. We make life and business easier and better.
Searching for what you need to inform your business decision making is free. Come back often to find the best of business quickly. Pick up the latest lifestyle and business risk management news headlines opinions debate and business reviews.
Are you a business owner or manager in the financial services industry?
Business leaders do not always have the marketing budget to promote their business. We provide a range of online marketing options for businesses to fit most budgets so you can promote your business products or services for longer.
Sponsor Strategic Risk In Financial Services for 12 months
Globally Empty Office Buildings and Commercial Property Creating Debt Collapse, Systemic Threat to Banking System Worldwide
The COVID-19 pandemic and central banks response – overprinting of money out of thin air – has had a devastating impact on the global economy, and nowhere has this been more evident than in the commercial real estate sector. As businesses have been forced to close or operate remotely, millions of square feet of office space have been vacated, leaving office buildings empty around the world.
This has led to a sharp decline in property values, and many commercial real estate owners are now facing significant financial losses. In some cases, these losses have become so severe that they have forced property owners to default on their loans, which could have a ripple effect throughout the global banking system.
Who Has the Most Exposure to Commercial Real Estate?
The financial institutions that have the most exposure to commercial real estate are those that specialise in lending to businesses and developers. These institutions include commercial banks, investment banks, regional banks in USA and insurance companies.
According to a recent report by the International Monetary Fund, commercial banks worldwide have about $20 trillion in outstanding loans to commercial real estate borrowers. This represents about 10% of all bank lending globally.
Investment banks and insurance companies also have significant exposure to commercial real estate. Investment banks, for example, often underwrite and market commercial real estate bonds, which are a type of debt security that is backed by the income generated from rental properties. Insurance companies, on the other hand, often invest in commercial real estate through real estate investment trusts (REITs), which are companies that own and operate income-producing properties.
Are Banks in Danger?
The sharp decline in commercial real estate values has raised concerns that banks could be in danger of suffering significant losses on their loans to commercial real estate borrowers. In some cases, these losses could be so severe that they could force banks to default on their own debts, which could lead to a systemic financial crisis.
However, it is important to note that banks have a variety of tools at their disposal to manage their exposure to commercial real estate risk. For example, banks can sell off their commercial real estate loans to other investors, or they can take steps to restructure the terms of these loans. At the same time if the sea level is going down for all banks in real estate debt crisis will there be enough saviours?
In addition, the government can also play a role in helping to stabilise the commercial real estate market. For example, the government can provide financial assistance to banks that are struggling with commercial real estate losses, or it can provide tax breaks to businesses that are considering moving back into office space. At the same time this is inflationary and may result in even higher interest rates – problem delayed but worsened thereby extending and increasing length of recession creating depression.
How Many Office Buildings Are Empty in the US?
According to a recent survey by the commercial real estate firm CBRE, about 15% of office space in the United States is currently vacant. This represents about 250 million square feet of empty office space.
The vacancy rate is highest in major cities such as New York, San Francisco, and Los Angeles. In these cities, the vacancy rate is often above 20%.
The vacancy rate is also high in some smaller cities and towns. For example, the vacancy rate in the city of Detroit is currently over 30%.
These, official, vacancy rates seem lower than real levels other agencies produce and anecdotally.
Why Are the Banks in Trouble?
The banks are in trouble because they have lent too much money to commercial real estate borrowers. When these borrowers default on their loans, the banks are left holding the bag.
The banks are also in trouble because the value of their commercial real estate assets has declined. This decline in value has made it more difficult for the banks to sell these assets, and it has also reduced the amount of collateral that they have available to secure their loans.
The banks are also facing increased competition from non-bank lenders, such as private equity firms and hedge funds. These non-bank lenders are often willing to lend money to commercial real estate borrowers at lower interest rates than the banks.
Conclusion
The global pandemic has had a devastating impact on the commercial real estate sector, and this has led to significant financial losses for banks and other financial institutions. The situation is likely to get worse before it gets better, as more and more businesses continue to operate remotely. If it gets worse it will be a very long time – decades – before it gets better!
The government will need to play a role in helping to stabilise the commercial real estate market, and banks will need to take steps to manage their exposure to commercial real estate risk. If these steps are not taken, the global banking system could be in danger of a systemic crisis.
BusinessRiskTV Financial Services Industry Magazine
Managing Risk in Financial Services
Managing Risk in the Ever-Evolving Financial Services Industry
The financial services industry is a complex and dynamic sector that plays a vital role in the global economy. It encompasses a wide range of activities, including banking, insurance, investment management, and more. However, with the constant changes and uncertainties in the business landscape, managing risk has become a critical aspect of the financial services industry. In this article, we will explore the challenges and best practices of managing risk in the ever-evolving financial services industry.
The Changing Landscape of the Financial Services Industry
The financial services industry has gone through significant changes over the years, driven by various factors such as technological advancements, regulatory reforms, economic fluctuations, and changing customer preferences. These changes have brought new opportunities and challenges for businesses operating in this industry.
One of the significant changes in the financial services industry is the increasing reliance on technology. The digital revolution has transformed the way financial services are delivered and consumed. Fintech companies have emerged, leveraging technology to disrupt traditional financial services providers. This has resulted in increased competition and the need for traditional financial institutions to adapt and innovate to stay relevant.
Another change in the financial services industry is the evolving regulatory landscape. Governments and regulatory bodies around the world have implemented stringent regulations to safeguard consumers and ensure financial stability. These regulations, such as the Dodd-Frank Act in the United States and the MiFID II directive in the European Union, have increased compliance requirements for financial services firms. Non-compliance can result in severe penalties and reputational damage, making effective risk management essential.
Economic fluctuations also impact the financial services industry. Economic downturns can lead to increased credit risk, market volatility, and liquidity challenges, while economic upturns can present growth opportunities. As the global economy becomes increasingly interconnected, events in one part of the world can have ripple effects on financial markets globally, making risk management more complex and critical.
Lastly, changing customer preferences and behaviors have also impacted the financial services industry. Customers now demand personalized and convenient financial services, with a focus on transparency and trust. This has led to a shift in business models, with a greater emphasis on customer-centricity and digital engagement. Firms need to understand customer preferences and manage reputational risk to maintain customer trust and loyalty.
Challenges in Risk Management in the Financial Services Industry
The evolving landscape of the financial services industry has brought about several challenges in managing risk effectively. Some of the significant challenges include:
Increasing Complexity: The financial services industry is highly complex, with numerous products, services, and processes. Risk managers need to understand the intricacies of various financial instruments, business models, and regulatory requirements to identify and manage risks effectively.
Changing Regulations: The regulatory landscape is constantly evolving, with new regulations being introduced and existing ones amended. Financial services firms need to stay abreast of these changes and ensure compliance, which requires significant resources and expertise.
Cybersecurity Risks: The increasing reliance on technology has also exposed the financial services industry to cybersecurity risks. Cyber threats, such as data breaches and ransomware attacks, can result in financial losses, reputational damage, and regulatory penalties.
Geopolitical Risks: Geopolitical events, such as trade disputes, political instability, and sanctions, can have significant impacts on the financial services industry. These events can affect global markets, currencies, and investment portfolios, leading to increased volatility and risk exposure.
Reputation Risk: Reputation is crucial in the financial services industry, and any damage to reputation can have severe consequences. Negative public perception, loss of customer trust, and regulatory scrutiny can all result in significant financial and operational impacts.
Operational Risks: The complex and interconnected nature of the financial services industry also presents operational risks. Operational failures, such as system outages, processing errors, and human errors, can disrupt business operations, cause financial losses, and harm reputation.
Risk of Financial Crime: Financial services firms are also exposed to risks related to financial crime, including money laundering, fraud, and corruption. These risks can arise from internal or external sources and can result in regulatory penalties, legal liabilities, and reputational damage.
Risk from Emerging Technologies: The rapid pace of technological advancements, such as artificial intelligence, blockchain, and cryptocurrency, presents both opportunities and risks for the financial services industry. Firms need to understand the risks associated with emerging technologies and implement effective risk management strategies to mitigate them.
Best Practices for Managing Risk in the Financial Services Industry
Given the challenges and complexities of managing risk in the financial services industry, it is essential for firms to adopt best practices to effectively mitigate risks. Here are some key best practices for managing risk in the financial services industry:
Develop a Robust Risk Management Framework: Financial services firms should establish a comprehensive risk management framework that includes risk identification, assessment, mitigation, monitoring, and reporting. This framework should be integrated into the firm’s overall strategy, operations, and decision-making processes.
Embrace a Risk Culture: Establishing a strong risk culture is critical for effective risk management. It involves fostering a culture where risk awareness and accountability are embedded in the organisation’s values, behaviours, and practices. This includes promoting open communication, risk transparency, and learning from mistakes.
Stay Abreast of Regulatory Changes: The financial services industry is heavily regulated, and firms need to stay updated with the latest regulatory changes that impact their operations. This includes understanding the implications of regulatory changes, ensuring compliance, and engaging with regulators proactively.
Enhance Cybersecurity Measures: Given the increasing cybersecurity risks, financial services firms should implement robust cybersecurity measures to protect their systems, data, and customer information. This includes regular cybersecurity assessments, employee training, and incident response plans.
Diversify Risk Management Strategies: Financial services firms should adopt a diversified approach to risk management. This includes diversifying investments, customers, and markets to reduce concentration risk. It also involves using risk transfer mechanisms such as insurance and derivatives to mitigate risks.
Conduct Comprehensive Due Diligence: Financial services firms should conduct comprehensive due diligence before entering into any business relationships, such as partnerships, acquisitions, or investments. This includes assessing the financial stability, reputation, and compliance of potential business partners to mitigate counterparty risk.
Implement Robust Compliance Programs: Compliance is a critical aspect of risk management in the financial services industry. Firms should establish robust compliance programs that include policies, procedures, and controls to ensure compliance with applicable laws, regulations, and internal policies.
Invest in Technology and Data Analytics: Technology and data analytics can play a significant role in enhancing risk management in the financial services industry. Firms should invest in advanced technologies, such as risk management software, data analytics tools, and machine learning algorithms, to identify, assess, and monitor risks effectively.
Continuously Monitor and Update Risk Management Strategies: Risk management is an ongoing process, and firms should continuously monitor and update their risk management strategies to adapt to changing business and market conditions. This includes conducting regular risk assessments, evaluating the effectiveness of risk mitigation measures, and making necessary adjustments as needed.
As the financial services industry continues to evolve, managing risk has become more critical than ever. Firms operating in this industry face various challenges, including increasing complexity, changing regulations, cybersecurity risks, geopolitical risks, reputation risk, operational risks, risk from emerging technologies, and risk from financial crime. However, by adopting best practices such as developing a robust risk management framework, embracing a risk culture, staying abreast of regulatory changes, enhancing cybersecurity measures, diversifying risk management strategies, conducting comprehensive due diligence, implementing robust compliance programs, investing in technology and data analytics, and continuously monitoring and updating risk management strategies, financial services firms can effectively mitigate risks and safeguard their operations, reputation, and financial stability.
It is crucial for financial services firms to recognize that risk management is not a one-time activity but an ongoing process that requires constant attention and adaptation. By proactively identifying, assessing, and mitigating risks, firms can reduce the likelihood and impact of potential risk events and ensure their long-term sustainability.
In addition, fostering a strong risk culture within the organisation is essential for effective risk management. This involves creating an environment where risk awareness and accountability are valued, and employees at all levels are encouraged to report risks and concerns without fear of reprisal. A robust risk culture promotes open communication, transparency, and a commitment to continuous learning and improvement.
Furthermore, leveraging technology and data analytics can greatly enhance risk management efforts in the financial services industry. Advanced technologies, such as risk management software, data analytics tools, and machine learning algorithms, can enable firms to identify patterns, trends, and anomalies in vast amounts of data, allowing for more informed risk assessments and timely risk mitigation actions.
Lastly, financial services firms should stay updated with the latest regulatory changes and engage with regulators proactively. Regulatory requirements are constantly evolving, and firms need to ensure compliance with applicable laws and regulations to avoid penalties, legal liabilities, and reputational damage. Regular communication and collaboration with regulators can help firms understand the implications of regulatory changes and proactively address any potential compliance gaps.
In conclusion, managing risk is a critical aspect of operating in the financial services industry. With the increasing complexity and evolving landscape of this industry, firms need to adopt a proactive and comprehensive approach to risk management. By developing a robust risk management framework, fostering a strong risk culture, staying updated with regulatory changes, enhancing cybersecurity measures, diversifying risk management strategies, conducting comprehensive due diligence, implementing robust compliance programs, investing in technology and data analytics, and continuously monitoring and updating risk management strategies, financial services firms can effectively mitigate risks and ensure their long-term success. It is imperative for financial services firms to prioritise risk management and make it an integral part of their strategic planning and decision-making processes. By doing so, they can safeguard their operations, protect their reputation, and maintain the trust of their customers and stakeholders in the ever-changing landscape of the financial services industry.
Loss prevention tips and training from BusinessRiskTV.com
Subscribe for free to BusinessRiskTV to improve loss prevention awareness email alerts
Discover loss prevention best practices with BusinessRiskTV. Develop new ways to improve loss prevention. Tackle preventable profit loss. Engage your employees in loss prevention.
A more structured approach to risk management can reduce loss in your business and improve business performance
BusinessRiskTV
Working with you to minimise corporate loss with latest tips tools and techniques. To help you do that we work with loss prevention experts around the world to find the solutions to reduce risk of loss and improve loss prevention.
Restructure your loss prevention strategy. Boost your profit with loss prevention. Some losses maybe inevitable part of being in business. Take a balanced view to loss prevention with help from BusinessRiskTV. Preventing loss may mean you need to work less hard at replacing lost value and maximise profit more easily.
Connecting business leaders to make risk management easier and better
Finding the latest best loss prevention products or services can be time consuming and unfruitful. We make easier and better.
Searching for loss prevention tips tools and techniques is free. Come back often to find the best loss prevention products and services on BusinessRiskTV. Pick up the latest loss prevention news headlines opinions debate and business reviews.
Business leaders do not always have the marketing budget to promote their business. We provide a range of online marketing options for businesses to fit most budgets so you can promote your business products or services for longer.
Enterprise risk management analysis with BusinessRiskTV
How to identify and analyse enterprise opportunities and threats
Improve your identification and analysis of business opportunities and threats. Subject your business processes to better risk identification and analysis to boost your business performance.
Unlock the secrets of successful business risk management: Sign up for our ongoing risk management workshops today!
Use your business strengths to mitigate the threats your business faces. Reduce your weaknesses to control the threats to your business objectives. Seize new business opportunities to build your business resilience.
Find out how to protect your business better and build business resilience with BusinessRiskTV
Subscribe for free to BusinessRiskTV to follow updates and highlights of articles and workshops on risk identification and analysis
Use enterprise risk identification and analysis to help you grow your business with less uncertainty.
Enhance what you are doing well for greater returns on your investment of time and money.
Identify new opportunities for your business that you are currently missing or failing to capitalise upon.
Control the risks holding your business development back.
Recognise that you do have opportunities to improve your business and what you need to do to make them work well regardless of the business or economic environment.
Subscribe for free to BusinessRiskTV to follow updates and highlights of articles and workshops on risk identification and analysis
Create a business risk management plan after identifying key threats and opportunities for your business: PESTLE example
A business risk management plan for a business leader in the UK could include the following:
Political risks:
Monitor changes in government policies and regulations that may affect the business
Assess the potential impact of political instability on the company’s operations and supply chain
Develop contingency plans for disruptions caused by political events
Economic risks:
Monitor economic indicators such as GDP growth, inflation, and interest rates
Assess the potential impact of economic downturns on the company’s revenue and profitability
Develop strategies to mitigate the effects of economic fluctuations on the business
Social risks:
Monitor changes in consumer behavior and preferences
Assess the potential impact of social trends on the company’s products and services
Develop strategies to adapt to changes in consumer demand
Technological risks:
Monitor advances in technology that may disrupt the company’s business model
Assess the potential impact of technological innovations on the company’s competitiveness
Invest in research and development to stay ahead of technological changes
Legal risks:
Monitor changes in laws and regulations that may affect the business
Assess the potential impact of legal changes on the company’s operations and compliance costs
Develop strategies to mitigate legal risks, such as insurance or implementing compliance programs
Environmental risks:
Monitor changes in environmental regulations and standards
Assess the potential impact of environmental factors on the company’s operations and supply chain
Develop strategies to mitigate environmental risks, such as implementing sustainable practices or investing in renewable energy.
Note: PESTLE Analysis is a framework for assessing the external factors that may affect a business. It is a useful tool for identifying potential risks and opportunities for a business.
PESTLE BUSINESS RISK PLAN
Risk Type
Key Considerations
Potential Impact
Mitigation Strategies
Political risks
Changes in government policies and regulations
Disruptions to operations and supply chain
Monitor political developments, develop contingency plans
Economic risks
Economic indicators such as GDP growth, inflation, and interest rates
Reduced revenue and profitability
Monitor economic indicators, develop strategies to mitigate effects of economic fluctuations
Social risks
Changes in consumer behavior and preferences
Reduced demand for products and services
Monitor social trends, develop strategies to adapt to changes in consumer demand
Technological risks
Advances in technology that may disrupt business model
Loss of competitiveness
Monitor technological developments, invest in R&D to stay ahead of changes
Legal risks
Changes in laws and regulations
Increased compliance costs and legal liabilities
Monitor legal developments, implement compliance programs and insurance
Environmental risks
Changes in environmental regulations and standards
Negative impact on operations and supply chain
Monitor environmental developments, implement sustainable practices and invest in renewable energy.
The risk of enterprise failure increases with inadequate governance risk and compliance processes
There are many examples of the biggest firms in the world collapsing due to bad risk management practices. Good corporate governance risk and compliance systems build business resilience and can improve business performance.
Subscribe to BusinessRiskTV for latest news headlines opinions risk analysis and reviews of success and failure in business
Subscribe to BusinessRiskTV for latest news headlines opinions risk analysis and reviews of success and failure in business
There are several techniques that can be useful for managing business rules in an organisation. Here are some recommendations:
Documenting business rules: One of the most important techniques for managing business rules is to document them in a clear and concise manner. This can include using a variety of formats such as decision tables, flowcharts, and natural language descriptions.
Centralising business rules: To avoid inconsistencies and duplication of effort, it is advisable to centralise the management of business rules. This can be done using a dedicated software tool or a repository that stores the rules and makes them accessible to relevant stakeholders.
Version control: It is crucial to keep track of changes to business rules over time, especially when multiple stakeholders are involved. Version control techniques such as branching and merging can help in managing changes to business rules.
Testing and validation: Business rules should be tested and validated thoroughly to ensure their accuracy and effectiveness. This can be done using a variety of techniques such as unit testing, integration testing, and user acceptance testing.
Auditing and monitoring: Regular auditing and monitoring of business rules can help to identify any potential issues or areas for improvement. This can be done using automated tools or through manual reviews.
Governance and ownership: Establishing clear governance and ownership of business rules is essential to ensure that they are being managed effectively. This can include assigning ownership to specific individuals or teams and establishing processes for reviewing and approving changes to business rules.
By following these techniques, organisations can effectively manage their business rules and ensure that they are aligned with their business objectives and regulatory requirements.
Stop procrastinating and find ways to overcome barriers to your business success with BusinessRiskTV.com
What online networking groups do you have for risk management knowledge and skills development
Need to know more about benefits of risk management? Connect with local and international risk management experts. Protect your business better and grow it faster with BusinessRiskTV risk management online network and other specialist networking opportunities.
Connect with people locally and globally to develop your risk management knowledge. Pick up the latest risk management news opinions and business reviews for free.
Business Risk Management Magazine Free Subscription
Join us on Risk Management Online for free networking on YouTube enterprise risk management
Join us on Risk Management Online for free networking on enterprise risk management
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new customers already interested in your type of business offering before your competitors do.
Find out how to promote your business locally and globally. CLICK HERE for more information.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Keep your business eye on the business risks that matter to your business success with BusinessRiskTV.com
How can business leaders better protect and grow their business
Identify the key business risks that could impact on your business. Assess the risks and evaluate potential risk management solutions to help you. Mitigate threats and seize new business development opportunities.
We look at the businesses the risks and the business risk management leaders to review the business threats and the opportunities for businesses in UK and globally.
What to watch on BusinessRiskTV?
What is in focus for BusinessRiskTV and its online broadcasting partners? Our online business leader community explore the risks impacting on business success or failure.
Which businesses should inspire you to change your business management systems?
Which businesses could you learn from in terms of how not to manage your business?
What are the emerging risks that could help or hinder your business performance or even survival?
Who or the business leaders blazing the trial to success? What could you learn from them?
Watch our risk experts analyse the financial markets the global economy and the business marketplace for free BusinessRiskTV subscription. Subscribe to read and watch corporate and economic updates. What are the things you need to know today. Catch up with highlights of key corporate risk management issues.
BusinessRiskTV Online Streaming Guide
Figure out what to watch to match your country risks or industry risks to maximise your business risk knowledge and business intelligence library. Pick the best original broadcasts for your business needs.
Find something to watch on BusinessRiskTV to inform your own business decision making process to reduce the impact of uncertainty on your business objectives
BusinessRiskTV
Subscribe to BusinessRiskTV for upcoming live and on demand broadcasts. Stream to your smartphone tablet or pc for free. Each day week month and quarter new BusinessRiskTV free online streaming helps to keep you alert to threats and opportunities for your business.
Subscribe to BusinessRiskTV online broadcasting alerts
Follow BusinessRiskTV live online. Subscribe to receive email updates and highlights from BusinessRiskTV. Our risk experts and risk partners recommend best business practices and risk management options for your business.
Subscribe to receive free alerts to new online streaming releases so you know what to watch. Watch it on demand whenever you want or watch live events workshops and training courses.
BusinessRiskTV regularly adds new broadcasts to our risk management back catalogue and Risk Management Video Library. You can even download some online broadcasts so you can select the best broadcasts worth watching again and again whenever you want. We also select the best risk management partner videos worth your while watching and add them to our Risk Library.
A quick of our calendar can also alert you to new recommended risk management information you might want to make yourself aware of including risk management articles news and videos.
Subscribe to BusinessRiskTV online broadcasting alerts
