Financial services Conduct Risks are the risks associated with the way an organisation and its staff relate to customers and the wider financial markets. Good conduct risk outcomes may be defined as customers getting financial services and products that meet their needs. BusinessRiskTV.com
Some bank shares are still more than 90% off their peak pre 2008 financial crisis so there is no such thing as “safe as money in the bank”!
The Inflationary Storm: Are Cryptos Your Lifeboat?
A dark cloud hangs over the global economy. Whispers of recession turn into shouts, and governments, desperate to keep the ship afloat, resort to the familiar mantra: fiscal stimulus and quantitative easing. But what does this mean for your hard-earned money? Enter cryptocurrencies: a digital life raft in a sea of potential devaluation.
As a currency and economics expert, I’m here to navigate these choppy waters. Today, we’ll explore the potential for crypto as a hedge against fiat currency devaluation. We’ll dive into the economic storm, examine the limitations of traditional safeguards, and assess whether venturing into the crypto realm could be your best bet.
The Looming Devaluation:
Governments and central banks worldwide have injected trillions into their economies since the pandemic. This, coupled with supply chain disruptions and geopolitical tensions, is fuelling an inflationary fire. Fiat currencies, backed by nothing but government promises, are losing their purchasing power. A loaf of bread that cost $2 yesterday may cost $2.10 tomorrow, silently eroding your savings and future.
Traditional Safe Havens Fail:
Historically, gold and other precious metals have been go-to hedges against inflation. But their limited supply and physical constraints don’t cater to everyone’s needs. Real estate or property, another traditional option, suffers from high entry barriers and illiquidity.
This is where cryptocurrencies enter the picture. With their decentralised nature, limited supply, and global reach, they present a new, albeit volatile, option.
The Crypto Advantage:
Limited Supply: Unlike fiat currencies,many cryptocurrencies, like Bitcoin,have a predetermined cap on their supply. This scarcity helps limit inflation and potentially increases their value over time.
Decentralisation: Cryptocurrencies aren’t subject to the whims of governments or central banks. Their decentralised networks offer a buffer against devaluation policies used to stimulate economies.
Global Accessibility: Anyone with an internet connection can access and trade cryptocurrencies, regardless of location or financial standing. This democratises wealth management and opens doors to previously excluded individuals.
Store of Value: While their volatility often grabs headlines, cryptocurrencies like Bitcoin have exhibited long-term value appreciation. Their potential to act as a digital gold, a secure store of value in a turbulent economy, is undeniable.
The Risk Factor:
However, venturing into the world of cryptocurrencies isn’t without its risks:
Volatility: The crypto market is notoriously volatile. Prices can swing wildly, making them potentially unsuitable for risk-averse individuals.
Regulation: The regulatory landscape surrounding cryptocurrencies is still evolving, creating uncertainty and potential for government intervention.
Security: Crypto wallets and exchanges have been targets for hackers, highlighting the importance of choosing secure platforms and practicing safe storage methods.
Navigating the Crypto Waters:
So, should you dive into the crypto ocean as a hedge against devaluation? The answer depends on your individual circumstances and risk tolerance. If you’re looking for a safe haven, traditional options like gold might be better suited. However, if you have the risk appetite and are willing to do your research, cryptocurrencies could be a valuable addition to your portfolio.
Remember, diversification is key. Don’t put all your eggs in the crypto basket. Start with a small allocation, understand the risks involved, and invest only what you can afford to lose.
For Business Leaders:
Explore crypto’s potential as a payment option:Accepting cryptocurrencies can attract tech-savvy customers and expand your reach.
Educate your employees: Equip your team with the knowledge they need to understand and potentially utilise cryptocurrencies.
For Consumers:
Do your research: Understand the different types of cryptocurrencies and their underlying technologies before investing.
Diversify your portfolio: Don’t put all your eggs in the crypto basket.
Start small: Invest only what you can afford to lose, and remember the market is volatile.
Choose secure platforms: Store your cryptocurrencies in reputable wallets and exchanges.
Cryptocurrencies present a fascinating blend of opportunity and risk in the face of potential fiat currency devaluation. While not a guaranteed solution, they offer a novel approach to securing your financial future. Remember, knowledge is power in this realm. Educate yourself, assess your risk tolerance, and make informed decisions to weather the coming economic storm. The crypto lifeboat might just be the key to staying afloat in the inflationary seas ahead.
Stop Predicting Mishaps and Build a Fortress: Managing Resilience in Uncertain Times
The world outside your boardroom window is a tempestuous ocean. Unforeseen tides roll in, stormy winds whip up, and unpredictable leaders steer their own vessels with varying degrees of… competence. As business leaders, we’re tempted to focus on these external fluctuations, squinting into the distance, trying to divine the next political misfire, economic tremour, or environmental upheaval. We spend countless hours crafting intricate contingency plans for every conceivable dystopian scenario – all while neglecting the most critical factor in our control: building a resilient business.
Instead of exhausting ourselves predicting the machinations of our “great leaders,” let’s shift our gaze inward. Let’s focus on what we can control: fortifying our own organisations. Let’s become architects of resilience, crafting businesses that thrive amidst chaos, bounce back from adversity, and emerge stronger from the stormiest seas.
Redefining Resilience: Beyond Crisis Planning
Resilience isn’t just about weathering a crisis. It’s about adapting, evolving, and even profiting from unexpected challenges. It’s about building an organisation that doesn’t merely survive the punches, but thrives on the throws. To achieve this, we need to move beyond reactive crisis planning and embrace a proactive, holistic approach to resilience.
The Pillars of a Resilient Business:
Foundational Stability: A resilient business starts with a rock-solid foundation. This means solid financial management, robust infrastructure, and a clear understanding of your core competencies and value proposition. Ensure your financial house is in order, with diversified revenue streams and adequate reserves to weather unexpected downturns. Invest in critical infrastructure, from IT systems to supply chains, ensuring redundancy and adaptability. Know your strengths and weaknesses inside-out, and focus on what you do best – outsourcing non-core functions to agile partners.
Agile & Adaptive Culture: Rigid organisations crumble under pressure. Cultivate a culture of agility and adaptability where employees are empowered to make decisions, take risks, and experiment. Encourage open communication, cross-functional collaboration, and continuous learning. Embrace diverse perspectives and foster a “fail fast, learn fast” mentality. Bureaucracy breeds stagnation; agility nurtures resilience.
Innovation Engine:Disruption is the new normal. Stay ahead of the curve by fostering a culture of innovation. Invest in research and development, encourage creative problem-solving, and reward out-of-the-box thinking. Be open to new technologies, business models, and market opportunities. Turn uncertainty into an opportunity to innovate and differentiate yourself from the competition.
Risk Management Mindset: While we shouldn’t obsess over predicting specific external events, a proactive risk management framework is crucial. Identify potential threats, assess their likelihood and impact, and develop mitigation strategies. Regularly review and update your risk assessments, and ensure effective communication and training around risk management protocols. Be prepared, but don’t get paralysed by fear of the unknown.
Stakeholder Trust & Engagement: Trust is the mortar that binds an organisation together. Cultivate strong relationships with employees, customers, suppliers, and other stakeholders. Be transparent in your communication, proactive in addressing concerns, and responsive to their needs. A network of trust enables your organization to weather storms together, with everyone aligned towards a common goal.
Driving Business Goals With Resilience as Your Fuel:
Building resilience isn’t about neglecting your objectives. It’s about ensuring you achieve them despite, and even because of, external turbulence. A resilient business is a proactive business, one that anticipates change and turns it to its advantage. By focusing on internal strengths and adaptability, you position yourself to seize opportunities amidst disruption, navigate uncharted waters, and emerge as a leader in the new landscape.
Remember, the next leader’s blunder, economic downturn, or natural disaster is inevitable. Stop squinting into the fog and get to work building your ark. Invest in internal strength, agility, and innovation. Forge a culture of resilience, and watch your business weather any storm while achieving its intended destination. By focusing on what you can control, you turn uncertainty into opportunity and become the captain of your own destiny, no matter who’s steering the world around you.
Fools gold or once in a lifetime opportunity in 2024?
The Crystal Ball of Crypto: Predicting Spot ETF Acceptability and Market Impact in 2024
The nascent world of cryptocurrencies has been on a rollercoaster ride, its trajectory heavily influenced by regulatory decisions, particularly when it comes to Exchange-Traded Funds (ETFs). Spot ETFs, tracking the underlying price of a crypto asset directly, promise to unlock unprecedented mainstream access and potential legitimisation for this new asset class. With multiple applications currently under review in various countries, the question remains: Where will these applications land? And what does it mean for cryptocurrency valuations in 2024? Predicting the future is always precarious, but by analysing current trends, regulatory landscapes, and industry sentiment, we can paint a picture of potential scenarios.
The Global Regulatory Landscape: Shades of Gray across Borders
The regulatory landscape for crypto assets, and Spot ETFs by extension, remains fragmented and diverse. Different countries approach the issue with varying degrees of receptiveness and caution. Let’s take a peek into some key regions:
North America: The US, the world’s largest financial market, has been notoriously hesitant. Despite numerous applications, the SEC hasn’t approved any Spot ETFs yet, citing concerns over market manipulation and investor protection. However, recent developments like BlackRock’s application and a court favouring Grayscale’s case signal a potential shift towards approval in 2024. Canada, on the other hand, has already approved several Spot ETFs, setting a precedent for the region.
Europe:Europe has taken a more pragmatic approach, with Germany approving its first Spot ETF in 2021. Several other European countries are actively considering applications, with Switzerland and France potentially following suit in 2024. However, stricter regulatory frameworks like MiCA could impose additional hurdles.
Asia: The picture in Asia is complex. Hong Kong, known for its financial openness, recently broke new ground by approving its first Spot ETF, the CSOP Bitcoin Futures ETF. This marks a significant departure from the stance of mainland China, which has banned individual crypto trading entirely. Meanwhile, Japan, after initial apprehension, has recently approved a Bitcoin futures ETF, potentially paving the way for further developments.
Predicting the Domino Effect: Acceptance Scenarios and their Impact
Based on these regional variations, let’s consider three potential scenarios for Spot ETF acceptance by the end of 2024:
Scenario 1: The Dam Breaks Open
A wave of approvals sweeps across major markets like the US, Canada, and several European countries. This scenario, fueled by growing institutional interest and industry pressure, could trigger a surge in demand for crypto assets, driving up valuations significantly. Increased liquidity and accessibility could attract new investors, further amplifying the bull run. This scenario, however, also carries risks, as rapid price climbs could be followed by sharp corrections if regulatory crackdowns or technological limitations arise.
Scenario 2: A Measured Waltz
Acceptance occurs but at a controlled pace. Regulators take time to carefully vet applications, prioritising robust safeguards and investor protection. This scenario would result in a gradual rise in valuations without the intense volatility of Scenario 1. New investors would enter cautiously, ensuring a more sustainable growth trajectory. However, this also means the full potential of Spot ETFs would be realised over a longer timeframe.
Scenario 3: The Cold Shoulder
Regulatory hurdles persist, with major markets like the US remaining hesitant. This scenario would keep the crypto market confined to its current niche, hindering mainstream adoption and limiting valuation growth. However, it could also foster further innovation within the crypto ecosystem, driving development towards greater decentralisation and security.
Beyond the Crystal Ball: The Unknowns and Opportunities
Predicting the future of crypto valuations is an intricate dance with numerous variables. Even the most robust analysis must acknowledge the presence of unforeseen black swans: unforeseen regulatory shifts, technological breakthroughs, or major market events. However, regardless of the specific scenario that unfolds, Spot ETFs are destined to be a game-changer for the crypto landscape. Increased institutional involvement, improved access, and potential regulatory legitimacy will undoubtedly have a profound impact on valuations, shaping the trajectory of this emerging asset class in 2024 and beyond.
As investors navigate this new frontier, it’s crucial to stay informed, manage risks responsibly, and remain adaptable to the ever-evolving nature of the cryptoverse. The crystal ball may be blurry, but the potential of Spot ETFs shines brightly, illuminating a future where mainstream adoption and institutional acceptance could propel cryptocurrencies into the heart of the global financial system.
Why the UK Cannot Complete Major Infrastructure Projects on Time and Within Budget
The UK has a long history of struggling to deliver major infrastructure projects on time and within budget. This has led to a number of high-profile delays and cost overruns, as well as a growing public frustration with the way in which infrastructure projects are managed.
There are a number of factors that contribute to the UK’s poor record on infrastructure delivery. These include:
A lack of long-term planning and strategic thinking. The UK government has often been accused of adopting a short-term approach to infrastructure planning, which has led to a lack of consistency and continuity.This has made it difficult to develop a long-term pipeline of projects that can be delivered efficiently.
A complex and fragmented procurement process. The UK’s procurement process is often complex and time-consuming,which can lead to delays and cost overruns. This is partly due to the fact that there is a lack of standardisation and consistency across different government departments and agencies.
A lack of expertise in managing large infrastructure projects. There is a shortage of skilled project managers in the UK, which can make it difficult to find the right people to lead and manage complex projects. This is compounded by the fact that many project managers in the UK are not properly trained or experienced.
A lack of political will to make tough decisions. The UK government has often been unwilling to make the tough decisions that are necessary to deliver major infrastructure projects on time and within budget. This is partly due to a fear of political backlash, but it is also due to a lack of understanding of the importance of infrastructure investment.
These factors have all contributed to a culture of risk aversion within the UK’s infrastructure industry. This has led to a focus on minimising risks rather than maximising value for money. As a result, projects are often over-engineered and over-specified, which leads to delays and cost overruns.
How to improve the UK’s record on infrastructure delivery
There are a number of things that the UK government can do to improve its record on infrastructure delivery. These include:
Develop a long-term infrastructure plan. The UK government needs to develop a long-term infrastructure plan that sets out the country’s infrastructure needs for the next 20 to 30 years. This plan should be based on a clear understanding of the country’s economic and social needs, and it should be regularly reviewed and updated.
Streamline the procurement process. The UK government needs to streamline the procurement process to make it more efficient and transparent.This could be done by standardising procurement procedures across different government departments and agencies, and by making more use of technology.
Invest in training and skills development. The UK government needs to invest in training and skills development to ensure that there is a sufficient supply of skilled project managers. This could be done by supporting professional development programs and by providing funding for apprenticeships and other training initiatives.
Make tough decisions. The UK government needs to be willing to make the tough decisions that are necessary to deliver major infrastructure projects on time and within budget. This includes making decisions about project scope, risks, and procurement.
Focus on value for money. The UK government needs to focus on value for money when delivering infrastructure projects. This means ensuring that projects are delivered to the highest possible standard, while also ensuring that they are delivered on time and within budget.
Improve project management practices. The UK government needs to improve project management practices across the public sector. This could be done by providing training and support to project managers, and by developing and implementing project management standards.
Increase investment in infrastructure. The UK government needs to increase investment in infrastructure. This will help to address the country’s infrastructure deficit and create jobs.
Publicly disclose project details. The UK government needs to publicly disclose all project details, including costs, risks, and timelines. This will help to improve transparency and accountability.
Appoint a dedicated infrastructure minister. The UK government needs to appoint a dedicated infrastructure minister who will be responsible for overseeing the delivery of all major infrastructure projects.
By taking these steps, the UK government can improve its record on infrastructure delivery and ensure that future projects are delivered on time and within budget.
In addition to the above, I would also like to add that the UK government needs to adopt a more collaborative approach to infrastructure delivery. This means working more closely with the private sector, as well as with local communities. By working together, the government and the private sector can share risks and expertise, and develop innovative solutions to infrastructure challenges.
The UK government also needs to be more open to using new technologies, such as modular construction and 3D printing. These technologies can help to reduce the time and cost of delivering infrastructure projects.
How do businesses manage risk or uncertainty with BusinessRiskTV.com
Develop your risk management tools and techniques. Pick up how to expand your business tips. Network with top business leaders and risk management experts locally and globally.
See The Road Ahead More Clearly With BusinessRiskTV
Enterprise wide risk consulting and enterprise risk management solutions training
Discover new ways to handle uncertainty in business.
What if the worst was to happen to your business? What maybe the worst for your business might be manna from heaven for other businesses. Your enterprise risk management plan must be bespoke to your business.
Engage the best assets your people more fully. Inspiring more from your workforce will build business resilience and faster growth.
Focus your business resources for optimal business performance.
Reap the rewards from business risk to benefit your business. Understand and manage key risk factors better to boost performance. Protect your business. Grow it faster.
Enter code #ERMtraining
Creative marketing campaign ideas and tools to grow your business more profitably
Discover fresh marketing ideas. Adopt marketing strategies to fuel your business growth sustainably. Set up a profitable campaign to sell more products and services online. More easily enter a fast growing marketplace.
Cost effective ways to market your business online with BusinessRiskTV
Are you looking for ideas to market and grow your business faster online?
Target your best audience to grow your business and make your marketing strategy more profitable. Learn how to run a successful marketing campaign with BusinessRiskTV. Boost sales and improve your bottom line.
Work with us to identify the most effective way to reach your new customers inexpensively. Achieve young marketing promotion and business development goals from brand awareness to engagement to driving new business. Generate leads and drive website traffic.
Read risk management articles and watch videostream trending on BusinessRiskTV
Risk experts help you through the toughest of times. CLICK HERE or email editor@businessrisktv.com and enter code #TheRiskExpert for free risk management alerts bulletins and reviews.
Promote and market your business on BusinessRiskTV for 12 months
Put your products and 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.
Working together for the common good with BusinessRiskTV.com. Help us to help you.
News opinions analysis reviews and activism with local and global people. Sixth generation movement to power 4th industrial revolution faster cheaper better. Connecting the world to achieve more with less.
6G Today Tomorrow and Everyday Thereafter
How do we improve on yesterday so that today and tomorrow is better and more cost effective. What is it that we have that is good?
What could be better?
Why is it not working now?
How are we going to change things?
When will we achieve enough is good enough?
Where do we need to act?
Who can help us move forward?
Striving for perfection is not our goal. Do not let perfection be the enemy of the good enough. Focus on making realistic changes for the better happen. Dreaming of a better world tomorrow does not make the real world good enough today.
Practical action to progressively improve the world we live in
Most people in 3rd world countries are not interested in woke words. They simply want to live better tomorrow than they did today. Most peoples 1st world problems could be alleviated with a holistic approach to good business management and lifestyle choices.
Fourth Industrial Revolution Latest News Commentary and Risk Review
Aspiration to live better wherever you live in the world can be fulfilled by solving all our problems together at once not by a piecemeal approach. Good words do not put food on the table or a roof over your head. Sodding your neighbour does not protect you from destroying everything you have built around you.
People can work together for common good
We do not need to be in the same country culture or place to work as a team to achieve what we want for ourselves. Getting what you want can help others to get what they want out of the investment of time.
Putting up trade barriers does not work for the builder of walls. Forcing people to be in your gang does not make progression towards goals fast enough. Seeing the mutual benefit at the end for all people on the bus does.
Our holistic approach to making decisions for the common good will be successful for all who lend support
If you put your shoulder to the wheel you can reap the rewards from the effort.
We are not looking for constant companions but do seek constant progress. Moving it forward a little everyday is better than big leaps now and again. We do not need to be beside you for every step but would like to be with you at the end of the journey. We can achieve more together than on our own.
BusinessRiskTV
If you are interested in getting on the same bus join BusinessRiskTV today
Join BusinessRiskTV for free today. Enter code#6G
Promote and market your business on BusinessRiskTV for 12 months
Put your products and 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.
Link into your existing sales process direct from BusinessRiskTV or use our eCommerce solutions to increase sales cash flow and profit
Increase the sources of your revenue streams more sustainably. Grow you business faster with BusinessRiskTV.
Enterprise Risk Management ERM Consulting and Training With BusinessRiskTV.com. Work one to one to protect your business better. Grow your business faster with less uncertainty impacting on your business objectives.
Business Mentor Online. An enterprise risk management mentor can help you change your business more quickly. An eCommerce Mentor can help you sell more online. BusinessRiskTV online business mentor helps you to manage business risks better. Practical enterprise risk management holistic solutions and specific problems solved. Members can search for and find risk management experts and business leaders to interact online with. Learn from leaders in enterprise risk management and future leaders in the industry. Joining our online networking and career development tools helps you find connect and share experiences with others locally and globally.
Business leader coaching and mentoring with BusinessRiskTV
Subscribe to BusinessRiskTV Business Mentors Online for free alerts bulletins and reviews to your inbox
Our enterprise risk management coach service provides a one to one mentor to help you identify assess and manage key enterprise risks to manage your business better.
Click Register Now or email editor@businessrisktv.com entering code #EnterpriseRiskManagementCoach
Enterprise wide risk assessment process and risk management consultancy and training
BusinessRiskTV is our enterprise risk management ERM hub for business experts where you can find the risk management resources you need to manage business risk better.
Global Risk Report Discussion Analysis and Review On BusinessRiskTV
Connect with high calibre risk management mentors online wherever you are in the world. Exchange risk management ideas and best practices. Pose questions to experts from the risk country or industry you are interested in. Contribute to risk management research and development in sector or country online forums.
Promote and market your mentor enterprise or 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 or email editor@businessrisktv.com entering code #MentorEnterpriseMarketing 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.
Grow your business faster with less uncertainty impacting on your business objectives with BusinessRiskTV.com
Marketplace risk conference. Take the opportunity to share and get help with more than 27000 members around the world. Overcome barriers to business faster. Connect with people who you can collaborate with on business development.
Cross business and industry collaboration with BusinessRiskTV.com
Business leaders collaborating on solving business problems together faster and cheaper
BusinessRiskTV Collaborative Business Solutions. Do you want to create more time for your business to grow faster with less uncertainty? Faced with a small budget for business protection and growth would you choose an online group session with other business leaders to save time and money? It is an idea some business leaders are investigating
Group online sessions solve common business problems faster and gives business leaders chance to collaborate with other business leaders with same attitude to business development and protection.
BusinessRiskTV
Demand on business leaders time outweighs time available to manage all business risks cost effectively. In recent years the speed of change in the business environment has accelerated putting increased pressures on business leaders wearing many business responsibility hats.
In addition many businesses have complex business systems and business needs which can make finding the best business solutions more difficult to identify.
The traditional one to one business consultation can be prohibitively expensive and the business problem can seem unique when in fact it affects many businesses.
With limited risk management funding or possibility of employing inhouse risk management expert specialists business leaders may need to find innovative ways to find best business solutions quickly within available budget.
Many businesses have the same need for commercial insurance cover and other solutions to protect the business that do not involve insurance. Most if not all business want to increase their opportunities to sell more and increase profitability. Business leaders may seek advice from risk management experts independently to advise on managing such business risks.
Instead of seeing a risk management consultant or business adviser on your own you could get together with a group of other business leaders needing to discuss the same business problems.
If a group of up to 10 business leaders came together with the same business problems could they share experiences to solve risk management problems faster and potentially cheaper?
BusinessRiskTV
BusinessRiskTV risk management network partners facilitate online business leader meetings. The risk management facilitator gathers together business leaders with the same or similar business problems problems before the online meetings. The risk management facilitator also compiles a list of questions the participating business leaders want to ask the group that will include attending and participating risk management experts.
The collaborative group of business leaders and risk management experts will know the business problems to be focused on and details of the businesses involved in the online discussion ahead of the online meeting. This will enable attendees to be aware of the potential value of the meeting to them and prepare for the meeting. The participants in the online problem solving meeting must not only prepare to solve their business problems but must be prepared to help share solutions to help other attendees problems.
Sharing problems and helping solve others problems is the purpose of the meeting.
BusinessRiskTV
The problem solving group may well discuss sensitive issues. This does not need to constrain those attending. Trust quickly develops as participants quickly realise they are not alone with their business problem and that they are talking to people who have already solved their problem. You create a bond with your fellow business leaders. The more you open up the more you get out of the meeting for your business. The sharing of experiences with other business leaders can be empowering.
The aim of the collaborative online meetings is to quickly find solutions to business problems to save time and money for the participants. Participants access more practical problem solving information that has worked already. The meetings help business leaders to more cost effectively use their own time and resources in solving their business problems and the business problems of others. As they are common problems experienced by all those attending then common solutions that actually work well will come to light without the need for discussion duplication.
You may prefer a one to one meeting with a business risk management consultant if you have the budget. However why reinvent the wheel. Other business leaders have solved your business problem already. Tap into their experience to solve your business problems quicker and potentially cheaper.
Collaborative business problem solving online meetings are for business leaders who already know what their business problems are. They just want to know the solutions quickly so they can go off and implement them for themselves and their business.
BusinessRiskTV
It is unlikely that people will attending the meeting will diagnose the problem that is holding your business back. That is not the purpose of the online meetings. You identify what your business risks are and come to the meeting to find risk management solutions or ideas that have worked and could work for your business.
There are measures in place to ensure the confidentiality of information shared within the group and you can see one of our risk management experts from our risk management network on an online one to one appointment who will have seen your business problem before. However collaborative group sessions can quickly overcome barriers to your business growth and a valuable peer support network.
Register for alerts to upcoming online group discussions and review bulletins on past business risk management discussions
Alerts and bulletins will be emailed to you. Complete the form below to register your interest for free. Enter code #CollaborativeMeetings.
Promote and market your business on BusinessRiskTV for 12 months
Put your business products or services in front of more potential new customers more profitably. Increase your online sales Develop new income streams.
Find out how to promote your business locally and globally
Link in to your existing sales process from BusinessRiskTV.
Expert network helping business leaders manage business risks better on BusinessRiskTV.com
Leading experts in their industry or country come together to make business decision making easier. Discover the best business practices quicker. Exchange business risk management information. Ask how to overcome business barriers.
Governance risk and compliance expert network offering you tips help and support to manage business risks
Better business planning will ensure you are ready for any risk event impacting on your business objectives. If you have completed the ground work no risk event should stop you achieving what you want for your business.
Enterprise risk management tools and techniques with BusinessRiskTV.com
Different business problems require a different set of skills or experience to overcome. A business problem in your industry or country facing your business may require a different solution from the solution used by your competitors. Indeed a different business solution that fits your business problem may actual reap faster growth or better business protection.
One size does not always fit all
BusinessRiskTv
When looking for a solution to your business problem
be flexible
take a more risk based holistic risk management approach
use the right risk management tools and techniques that fit your business culture and attitude to business risk.
Connect with BusinessRiskTV risk expert network to find the answers to your business questions.
BusinessRiskTV Business Risk Management Solutions
Doing the same things as your business has always done without success is a definition of business madness. Find new innovative ways to help your business grow faster with less uncertainty.
Connect with our local and global risk management experts to find the solution to your business problem
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
Problem solving meetings and innovative business solutions with BusinessRiskTV.com
Structure management meetings to make real decisions. Make progress do not maintain status quo. Move your business forward with a meeting. Make sure your decision making meeting works well for your business.
Having too many meetings decreases productivity. A boost to productivity can be facilitated by reducing the number of meetings and making each one held more venues for better decision making. Manage meeting process better and keep meetings short.
Academics from the University of Malmo in Sweden say meetings provide an outlet for people at work to show off their status or to express frustration.
BBC Report
Managers should have clearly defined roles and accountability that they have agreed to and these should be directly linked with the strategic operational and project objectives of the business.
Just because you have manager in your job title does not mean the best thing for the business is to be in meetings constantly. Especially if at the end of a meeting not decision has been taken on the subject of the meeting.
However the BBC report says that the professor things meetings are good because they allow the business to assert power and direction over those attending the meeting. Surely meetings should be about engaging all those attending the meeting in solving a specific problem or problems the meeting has been called to address. Address means there must be decisions taken on how to resolve the issues raised otherwise they are just talking shops and can actually be more destructive than constructive.
If dissatisfaction with the business is to be allowed it should be in the understanding that you bring a solution to the problem you are complaining about not just a problem.
Find ways to grow faster and protect your business better
Effective meetings can produce better business decisions. Not all decisions made at a meeting will be good decisions. Having decided a meeting is needed make sure the potential benefit from the meeting is not missed.
Make sure ever attendee properly prepares for the meeting. Make sure what decision needs to be made is clear before the meeting and what is expected from attendees.
Make sure it is clear that people are attending not to talk about the problem but to make a decision on a specific issue.
There maybe more than one option to consider and decide on the best decision. Make sure the options are clear before the meeting.
Make sure there is a written meeting agenda and a clear idea of what decisions are needed. Make sure all attendees are suitable informed about the meeting subject matter. Send out agenda before meeting.
Holding short meetings are better than long ones. Shorter meetings should help focus minds on the key issues at hand. Short meetings can focus the energy in the room on finding business solutions not issuing direction or showcasing managerial power.
Our online breakfast meetings are highly focused on finding best business risk management solutions for your business
For anyone who has in interest in enterprise risk and risk management : explore the challenges and rewards faced by all risk managers
Our Global Risks Symposium saves time and money finding the best business management solutions for business leaders within a country or industry. Find the best risk management solution for your specific business problem. Our risk experts and your peers find practical solutions to most business issues.
Enter code #GlobalRisksSymposium
Subscribe to BusinessRiskTV for free alerts and bulletins on latest business risk management tips
Subscribe to BusinessRiskTV for free alerts and bulletins on the latest business threats and opportunities for growth to your inbox
Understand business risks. Explore the key factors that lead to successful business. Apply the relevant risk management measures. Take the risk first before the competition clicks on.
Click on Like Button to follow us on your favourite social media App; or subscribe for free enterprise risk management newsletter by emailing editor@businessrisktv.com
Risk Appetite and Risk Tolerance enter code #RiskAppetite
There are a number of key factors that led to successful business. Successful business leaders understand that being in business is about managing the risks from change. Unsuccessful business leaders tend to blame their failures on economic climate changes and their successes on their brilliant business management skills!
The UK retail sector is suffering major painful changes. Tens of thousands of jobs have been lost as major retailers collapsed or contracted. Yet the UK retail marketplace has some examples of major retailers bucking this trend blamed on the UK economy by unsuccessful retail business managers.
By applying their risk management knowledge successful businesses can act quicker and with more confidence it will work out
BusinessRiskTV
Not taking risks is not an option for most business leaders. However many risk factors coming together can appear daunting. Enterprise risk management looks at the big picture and helps you identify the steps to a better business in future.
Find out how to improve your chances of business success with BusinessRiskTV. Take calculated risks to help your business grow faster with less uncertainty. Embrace change and the risks to your business.
Business risk assessment elements should fit your business culture. Some people do not like numbers. Some do. Your business risk assessment template should reflect the culture of your organisation.
A business risk assessment is a systematic process that helps organisations identify, evaluate, and prioritise risks that may impact their operations, financial performance, and reputation. It is an essential tool for managing risk and ensuring the long-term viability of a business.
There are several key elements that a business risk assessment should include:
Identifying the risks: The first step in the risk assessment process is to identify the potential risks that the business may face. This can include internal risks, such as operational inefficiencies or employee misconduct, as well as external risks, such as market changes or natural disasters.
Evaluating the risks: Once the risks have been identified, the next step is to evaluate their potential impact on the business. This includes considering the likelihood of each risk occurring, as well as the potential consequences if it does.
Prioritising the risks: After evaluating the risks, the next step is to prioritise them based on their potential impact on the business. This will help the organisation focus its resources on the most significant risks and develop strategies to mitigate them.
Developing risk management strategies: Once the risks have been prioritised, the next step is to develop strategies to mitigate them. This can include implementing control measures to prevent or reduce the likelihood of risks occurring, or transferring the risk to another party through insurance or other means.
Monitoring and reviewing the risks: The risk assessment process is ongoing and should be regularly reviewed and updated to ensure that it remains relevant and effective. This includes monitoring the risks and identifying any new or emerging risks that may have arisen since the last assessment.
In summary, a business risk assessment should include the following key elements:
Identifying the risks
Evaluating the risks
Prioritizing the risks
Developing risk management strategies
Monitoring and reviewing the risks
Every business faces risks that could be a threat to its success
The business leaders who are better prepared for these risks and have a cost effective risk management plan and business strategy are more likely to be more successful.
Enterprise Wide Risk Assessment For Faster Business Growth With Best Use Of Business Assets
Develop a suitable risk assessment process to assist with your risk management plan preparation. Review your existing risk management process to ensure it is fit for purpose in a rapidly changing marketplace. Successful entrepreneurs have a good strategic operational and project risk management attitude and business culture that is flexible enough to cope with any economic environment.
There are numerous factors that can contribute to the success of a business. Here are some key factors that are often considered critical for building and maintaining a successful business:
Clear Vision and Strategy: A successful business requires a clear vision and a well-defined strategy. This includes setting goals, defining the direction of the business, and developing a roadmap to achieve those goals.
Market Research and Understanding Customer Needs: Understanding the market and identifying customer needs are essential for success. Conducting thorough market research, identifying target customers, and tailoring products or services to meet their needs is critical in building a successful business.
Strong Leadership: Effective leadership is crucial for the success of any business. It involves providing direction, making decisions, motivating employees, and fostering a positive work culture. Strong leadership skills help in guiding the business through challenges and achieving the desired outcomes.
Financial Management: Proper financial management, including budgeting, cash flow management, and financial planning, is vital for the long-term success of a business. Sound financial management practices help in ensuring that the business remains financially stable and can weather economic uncertainties.
Quality Products or Services: Delivering high-quality products or services is essential for building a loyal customer base. Providing value to customers and consistently meeting or exceeding their expectations builds trust and helps in retaining customers, which is critical for the success of any business.
Effective Marketing and Branding: Successful businesses understand the importance of effective marketing and branding. Creating a strong brand presence, developing marketing strategies to reach the target audience, and promoting products or services effectively can lead to increased visibility, customer acquisition, and revenue growth.
Innovation and Adaptability: In today’s dynamic business environment, innovation and adaptability are crucial for success. Successful businesses continuously innovate, adapt to changing market trends, and find new ways to stay relevant and competitive in the market.
Efficient Operations and Processes: Streamlining operations and processes can improve efficiency, reduce costs, and enhance customer satisfaction. Implementing effective systems and processes, optimising the supply chain, and leveraging technology can lead to improved productivity and operational excellence.
Talented and Engaged Workforce: A skilled and motivated workforce is vital for the success of any business. Hiring and retaining top talent, providing opportunities for growth and development, fostering a positive work culture, and promoting employee engagement can lead to higher productivity and overall business success.
Customer Relationship Management: Building strong customer relationships is crucial for long-term success. Providing excellent customer service, maintaining open lines of communication, addressing customer feedback, and building customer loyalty are key factors that contribute to the success of a business. These are some of the key factors that can contribute to the success of a business. However, it’s important to note that success is multifaceted and can vary depending on the industry, market, and individual circumstances. It’s essential to carefully plan, execute, and continuously adapt to changing circumstances to achieve long-term business success.
Strategic Partnerships and Networking: Collaborating with strategic partners and building a strong network can provide valuable opportunities for business growth. Strategic partnerships can help access new markets, share resources, and leverage complementary strengths, while networking can lead to new business leads, partnerships, and valuable industry insights.
Risk Management: Successful businesses recognize the importance of managing risks. This includes identifying and mitigating potential risks, having contingency plans in place, and being prepared to handle unexpected challenges. Effective risk management can help protect the business from potential setbacks and ensure its resilience.
Flexibility and Adaptability: Business environments can change rapidly, and successful businesses are agile and adaptable. Being open to change, willing to pivot when necessary, and embracing innovation can help a business stay ahead of the competition and navigate through uncertainties.
Continuous Learning and Improvement: Successful businesses are always learning and improving. Keeping up with industry trends, staying updated with technology, and seeking feedback from customers and employees can provide valuable insights for making informed decisions and driving continuous improvement.
Strong Customer Focus: Putting the customer at the center of the business is crucial for success. Understanding customer preferences, delivering excellent customer experiences, and building customer loyalty can lead to repeat business, positive word-of-mouth, and a strong brand reputation.
Ethical and Responsible Business Practices: Operating with integrity, practicing ethical business standards, and being socially responsible can build trust and credibility with customers, employees, and other stakeholders. Demonstrating responsible business practices can contribute to long-term success and sustainability.
Resilience and Persistence: Building a successful business is not always easy, and setbacks and failures are inevitable. Successful businesses demonstrate resilience, learn from failures, and persist in the face of challenges. Perseverance, determination, and the ability to bounce back from setbacks are key traits of successful entrepreneurs.
Long-term Planning and Goal-setting: Having a long-term vision and setting realistic goals is important for business success. Long-term planning allows for strategic decision-making, resource allocation, and monitoring progress towards achieving business objectives.
Adapting to Digital Transformation: In today’s digital age, successful businesses embrace digital transformation. This includes leveraging technology for automation, digital marketing, data analysis, and online presence to stay competitive and meet changing customer preferences.
Monitoring and Measuring Key Performance Indicators (KPIs): Successful businesses monitor and measure key performance indicators (KPIs) to track progress, identify areas for improvement, and make data-driven decisions. Regularly analysing KPIs provides insights into the health and performance of the business and helps in making informed decisions.
In conclusion, building and maintaining a successful business requires a combination of various factors. It’s important to have a clear vision, understand the market and customer needs, demonstrate effective leadership, manage finances wisely, deliver quality products or services, market and brand effectively, innovate, and adapt to changing environments. Additionally, building a strong team, managing risks, focusing on customer satisfaction, practicing responsible business ethics, and being resilient and persistent are key factors that contribute to long-term business success.
Improve your risk management process. Mitigate threats or seize new opportunities more quickly. Simplify your enterprise risk management ERM process.
Introduce a framework for your business to use an enterprise risk assessment process to reduce uncertainty. Make quick well informed business decisions. Take a systemic risk based approach to manage enterprise risks more effectively.
Use an enterprise risk management business strategy to inform your decision making process
BusinessRiskTV
Adopt an holistic approach to business risk management. Develop your risk knowledge and improve your risk management capability. Better business decision making will build long term business resilience regardless of the economic environment. Develop a more structured approach to making business decisions.
Enhance strategic operational and project decision making with enterprise risk management ERM
BusinessRiskTV
Increase your ability to prioritise your business resources for best effect on your business objectives.
Subscribe to BusinessRiskTV for free alerts bulletins and reviews on enterprise risk management
Business management consulting services on BusinessRiskTV.com
Discover how to grow business faster with less uncertainty. Business risk management consulting services focusing on key critical threats and opportunities for growth for your business. Make better strategic operational and project risk management decisions. Correct the direction of your business for greater success in business.
Fulfil the potential of your business with our experts tips advice and support. Discover how to grow your business faster with less uncertainty.
BusinessRiskTV
Sustain your business for the long term. Build business resilience regardless of economic environment. Be more successful despite the business environment not because of it.
Our network of risk experts will supply industry or country expert risk management knowledge and experience. They understand your business opportunities and challenges.
Collaborate with our risk experts to achieve more in business. Be more successful in future.
BusinessRiskTV
Design a new strategic development plan for your business. Find out more about our consulting services. Find the best consultant for your business on BusinessRiskTV. Their deep country and industry knowledge can provide quick risk management insight to overcome hurdles cheaper and more profitably.
How To Reduce Uncertainty In Business
Subscribe to BusinessRiskTV for free alerts and bulletins on business risk management to aide your decision making process
You will find related risk management articles and videos to develop your risk knowledge and business intelligence to improve your business decision making process
How To Reduce Uncertainty In Business With BusinessRiskTV
Put your products or services in front of new people already interested in your type of business offering.
Link into your existing online sales process direct from BusinessRiskTV or use our eCommerce solutions to increase your sales cash flow and profit. Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Learn how to make better decisions at work. Use decision making facts in enterprise risk management process to make better decisions. Network with top business leaders locally and globally to inform your decision making process.
Subscribe to BusinessRiskTV for free alerts and bulletins to inform your business decision making process
Our purpose is to help you solve important problems. Overcome barriers to growth and business resilience. Our focus is to keep you focused on your business key risks that matter to your success. Free tips advice and support to understand your most important risks.
Are you responsible for risk management and accountable for business strategy?
If you are a risk leader become more effective within your business. Read risk management leadership articles and watch video stream online. Find answers to your business questions for free. Discover risk management solutions to embed in your business. Ask the experts for solutions to your business problems.
Balancing Risk and Reward
Risk Leadership Conference
Complete the form below to register for free to receive free alerts and bulletins. Discover upcoming online risk leadership conference workshops events debates and webinars.
Enter code #RiskLeadership
Promote and market your risk management related business on BusinessRiskTV for 12 months
Put your products and services in front of new people already interested in your type of business offering.
Find out how to promote your business locally and globally
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 on BusinessRiskTV.
Read risk management articles and watch videostream trending on BusinessRiskTV
Securing business benefits of tackling key business risks with BusinessRiskTV.com
Business performance can improve faster tackling business risks holistically rather than individually. Discover the best ways to tackle the biggest risks to your business. Is your business properly prepared with effective risk management tools and techniques.
Secure greater business benefits from enterprise risk management ERM
BusinessRiskTV
Take more confident steps to tackle increased business risks. Read and watch videostream on practical risk management suggestions for the key risks that matter to your business performance. Address the key risk in your business more cost effectively and profitably.
Redesign your risk management plan to detail new strategies for dealing with key risks specific to your business. Focus your existing resources on the issues that will build strongest business resilience.
Businesses of every kind in every sector and every country seizing business opportunities to grow faster with less uncertainty. Risk affects all areas of your business. Manage those risks better for heightened business success.
Subscribe to BusinessRiskTV for free alerts and bulletins to inform your business decision making
Reviews of best types of business protection with BusinessRiskTV.com
How can business leaders protect their business better
BusinessRiskTV business protection guide for business protection tips advice and support. Protect a business from the effects of financial and non financial risks. Reduce the total cost of risk. Network with top business protection leaders locally and globally to protect your business better.
Subscribe to BusinessRiskTV Business Protection Guide for free alerts bulletins and reviews to your inbox
Subscribe to BusinessRiskTV.com for free
Enter code #BusinessProtectionGuide
Promote and market your business protection related business on BusinessRiskTV for 12 months
Grow Your Business With Us
Put your products or services in front of new people already interested in your type of business offering before your competitors grab your potential sales.
Find out how to promote your business locally and globally
Link into your existing online sales process direct from BusinessRiskTV or use our reCommerce solutions to increase your sales cash flow and profit.
Increase the sources of your revenue streams more sustainably. Grow your business faster with BusinessRiskTV.
Recommended business protection alerts and bulletins trending on BusinessRiskTV
BusinessRiskTV Guide To Business Protection
Running a successful business requires more than just a great product or service. It involves understanding and managing the risks that can impact your organisation. From financial risks to cybersecurity threats, there are various factors that can jeopardise the stability and growth of your business. In this BusinessRiskTV Guide to Business Protection, we will explore the key areas you need to consider to protect your business from potential risks.
Risk Assessment The first step in protecting your business is to conduct a thorough risk assessment. This involves identifying and evaluating the potential risks that your business may face. It is essential to assess both internal and external factors that could impact your operations. Internal risks may include financial instability, employee turnover, or operational inefficiencies. External risks can range from economic downturns to changes in regulations or new competitors entering the market. By conducting a comprehensive risk assessment, you can prioritise your efforts and allocate resources effectively.
Financial Risk Management Financial risks can have a significant impact on your business’s sustainability. It is crucial to develop a robust financial risk management strategy to protect your company’s assets and ensure its long-term viability. This includes identifying potential risks such as cash flow issues, debt management, currency fluctuations, and interest rate changes. Implementing financial controls, diversifying revenue streams, and creating a contingency fund are some of the strategies you can adopt to mitigate financial risks.
Insurance Coverage Insurance plays a crucial role in protecting your business from unexpected events. It is essential to assess your insurance needs and ensure that you have adequate coverage. Different types of insurance policies are available to address specific risks, such as property insurance, liability insurance, business interruption insurance, and cyber insurance. Carefully review the terms and conditions of each policy to ensure that it aligns with your business’s unique requirements. Regularly reassess your coverage to account for any changes in your operations or business environment.
Cybersecurity Measures In today’s digital age, businesses are increasingly vulnerable to cybersecurity threats. Protecting your business’s sensitive information and customer data is of utmost importance. Implement robust cybersecurity measures, including firewalls, encryption, secure passwords, and regular data backups. Educate your employees about the best practices for data security and create a culture of awareness within your organization. Conduct regular security audits and stay updated with the latest cybersecurity trends to stay one step ahead of potential threats.
Legal Compliance Compliance with laws and regulations is critical to protecting your business from legal risks. Failure to comply with relevant regulations can result in hefty fines, legal battles, and damage to your reputation. Stay informed about the laws and regulations that govern your industry and ensure that your business adheres to them. This may include data protection laws, labor regulations, environmental regulations, and consumer protection laws. Establish robust compliance processes, including regular audits and training programs, to minimise legal risks.
Business Continuity Planning Developing a comprehensive business continuity plan is essential to ensure that your business can withstand unexpected disruptions. Identify the critical functions of your business and create contingency plans to mitigate risks. This may involve developing alternate supply chains, establishing remote work capabilities, or creating backup systems for crucial operations. Regularly test and update your business continuity plan to account for any changes in your operations or potential risks.
Reputation Management Protecting your business’s reputation is crucial for long-term success. A damaged reputation can result in loss of customers, decreased revenue, and difficulty attracting top talent. Implement strategies to build and maintain a positive brand image. This includes delivering excellent customer service, being transparent and ethical in your business practices, and actively managing your online presence. Monitor social media platforms, respond promptly to customer feedback, and address any negative publicity proactively.
Strategic Partnerships Collaborating with strategic partners can help mitigate risks and enhance your business’s protection. Strategic partnerships can provide access to additional resources, expertise, and networks that can help you navigate risks more effectively. Look for partners who complement your business and share similar values. Collaborate on joint projects, share best practices, and leverage each other’s strengths to enhance your risk management capabilities. Building strong relationships with suppliers, distributors, and other key stakeholders can also contribute to the overall protection of your business.
Employee Training and Engagement Your employees are an integral part of your business’s protection. Investing in employee training and engagement can help mitigate risks and enhance your overall business resilience. Provide regular training sessions on topics such as risk awareness, cybersecurity, compliance, and crisis management. Foster a culture of open communication, where employees feel comfortable reporting potential risks or suggesting improvements. Engaged employees are more likely to be vigilant and proactive in identifying and addressing risks, contributing to a safer and more secure business environment.
Continuous Monitoring and Evaluation Business protection is an ongoing process that requires continuous monitoring and evaluation. Regularly review your risk management strategies and update them as necessary. Stay informed about the latest trends and developments in your industry to anticipate potential risks. Monitor key performance indicators (KPIs) and implement a robust reporting system to track the effectiveness of your risk management efforts. Conduct periodic audits and risk assessments to identify any emerging risks or areas for improvement.
Protecting your business from potential risks is essential for its long-term success and sustainability. By conducting a thorough risk assessment, implementing financial risk management strategies, securing adequate insurance coverage, strengthening cybersecurity measures, ensuring legal compliance, developing a business continuity plan, managing your reputation, leveraging strategic partnerships, investing in employee training and engagement, and continuously monitoring and evaluating your risk management efforts, you can enhance your business protection. Remember, business protection is an ongoing process that requires adaptability and a proactive approach to address the ever-evolving risks in today’s business landscape. By prioritising risk management and taking proactive measures, you can safeguard your business and position it for long-term growth and success.
All types of risk management tips advice and support on BusinessRiskTV.com
Could you help business leaders and help yourself at the same time? You can with BusinessRiskTV. Join our panel of enterprise risk management experts. Network with your peers and risk management experts to boost your business performance. Pick up tips to overcome barriers to business growth.
Importance Of Risk Taking In Business
Subscribe to BusinessRiskTV for free alerts and bulletins to upcoming panel discussions and debates
Are you interested in business risk management and interested in authoring an article or posting a video on BusinessRiskTV.com
We are looking for people who have something to say about country or industry risks. In addition if you want to author an article on specific risk that applies to all countries and industries we may publish it too.
Many people have experiences or thoughts which could provide a risk insight. BusinessRiskTV embraces thought leaders and innovative thinkers. Help others to see why your ideas are worth considering.
Do you want to:
Reach more business leaders and risk management professionals
Promote your thinking on particular risk or risks
Network with a view to promoting your business interests or career aspirations
Authoring an article for publication on BusinessRiskTV will help with the above.
If you would like to have an article published on BusinessRiskTV please contact us today online
[ninja_forms id=1]
Enter code #CitizenJournalist
Promote and market your business on BusinessRiskTV for 12 months
Recommended articles and videos trending on BusinessRiskTV
BusinessRiskTV Risk Management Events online help for business leaders to grow business faster with less uncertainty
Did you want to understand the threats and opportunities you are or will face?
BusinessRiskTV Risk Events will help inform your risk management decision making. Make better decisions with less uncertainty.
Join us at free risk management events. BusinessRiskTV free online Risk Events are aimed at business leaders. Our risk management experts will help business leaders overcome barriers to success.
Come to our online risk events armed with any questions specific to your business needs as you like. Pick up free business risk management advice wherever you are in the world with a WiFi signal.
To confirm your interest and receive alerts to future Risk Events subscribe to BusinessRiskTV for free today.
Subscribe to BusinessRiskTV free Risk Events to receive free alerts and bulletins
BusinessRiskTV was created by Keith Lewis as a hub for business leaders to connect with business management experts and other business leaders to solve business problems quicker.
With BusinessRiskTV you can pick up free business risk management tips advice and support. Our risk management tools and facilities provide various ways to gain support when making important business decisions wherever you are in the world.
Get a quiet nights sleep knowing that your business is better protected and more likely to grow faster with less uncertainty
BusinessRiskTV
Come back time and again for the latest business risk management news headlines opinions and reviews.
How can BusinessRiskTV help your business
With our support uncertainty will have less of a negative impact on your business. Be more positive about future of your business.
It is our mission to help protect your business better and help you grow it faster more profitably for longer. Without making the right decisions at the right time you expose your business to losses and may miss opportunities for business development.
We have a range of services to help you. Most of them are free. We are constantly evolving our range of services to keep you covered. You develop a more holistic approach to business problem solving for a greater chance of more success.
Sell More In UK Online. We can help you with ecommerce solutions to sell more profitably and safely online.
Sell More Overseas. We can help you sell more in overseas marketplaces more profitably and safely.
Collaborate and network online with top business leaders and risk management experts for free. Find best ways to protect and grow your business faster.
Join us at an online Risk Event to taste what we have to offer your business
Subscribe to BusinessRiskTV to find out when the next Risk Event takes place and where to find the best Risk Events for your business needs on BusinessRiskTV.
Online entry to Risk Events is free but by invitation only so subscription is essential. You can book into specific Risk Events when you receive specific Risk Event invitation.
To subscribe to BusinessRiskTV please complete and submit the above form free of charge.
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.
Risk management questions and answers on BusinessRiskTV
Are you struggling with a business problem? Question and answer business risk management issues for free. Overcome business management barriers more easily. Get the latest business risk management news headlines opinions and reviews.
Subscribe to BusinessRiskTV for free alerts and bulletins
Complete and submit the form and enter code #RiskQuestions.
[ninja_forms id=1]
Recommended business risk management articles and videos
Guidance on enterprise risk assessment process from BusinessRiskTV
Understand the threats and opportunities your business faces. Identify practical enterprise risk management solutions. Boost the performance of your business
Business Risks Every Business Leader Should Look Out For and Plan For
Subscribe to BusinessRiskTV for free to receive free alerts and bulletins on business enterprise risk assessment
Risks are an inevitable part of being in business. How you assess and manage business risks may dictate the success of failure of your business. What is the impact of risks on your business?
Enter code #RISKASSESSMENT
What is holding your business back?
How do you assess business risks? Identify evaluate and manage business risks better. Find better ways to manage your business risks. Learn how to develop your business risk management knowledge.
Access a guide to latest business risk management practice
Improve your business risk assessment process. Find business risk assessment insight. Experts answer your questions about country or industry risks.
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.
Learn how to regain control of your business risks with BusinessRiskTV
Whether you accept avoid transfer mitigate risks or exploit risk opportunities is not straight forward. Find new ways to improve the culture of risk management to boost business performance. Increase your business success.
How do you manage risks?
How can your management of risks be improved?
What risks should you take and which should you not tolerate?
Understand the risk management process better. Discover the best risk management practices. Improve your risk management with better risk management solutions.
Sometimes we have to accept the risks our businesses face to achieve our goals. Taking no action to control the risks does not mean you have not managed the risk. It means you have identified and assessed it and proactively choose to accept it as the risk is within your risk tolerance and appetite for risk.
The other extreme is that you avoid the risk identified. The risk is beyond your risk tolerance and appetite for risk to pursuance of your business objectives.
Developing a balanced risk management action plan is not easy but it should be simple to work well.
BusinessRiskTV
Taking the right steps to manage risks will boost your business performance with less uncertainty.
Build your business resilience
Create more value
Advance your risk management capability
There is always room for improvement. Better risk management will mean your business is better prepared for the future. Improve performance regardless of business environment.
Whether you are trying to do something new or just want to find new ways to manage existing risks join our 360 Business Club.
Join our 360 Business Club to protect your business better and grow faster with less uncertainty impacting on your business objectives. CLICK HERE or email editor@businessrisktv.com entering code #360BusinessClub
Enterprise risk management experts answering your business management questions on BusinessRiskTV
How do business leaders ask the best questions to find best answers
Enterprise risk management questions and answers. Is there something blocking your business success? Overcome barriers to business growth. Protect your business resilience better.
What are the most important questions a business should answer?
Ask a business expert online. Business questions and experts answers free online. Get answers from BusinessRiskTV experts to questions on starting and running a business.
Want your business to thrive regardless of the business environment? Get answers to key topical business questions online.
BusinessRiskTV
View common questions business leaders visiting BusinessRiskTV want answered most. Avoid turning the wrong corner with more confidence.
Subscribe to BusinessRiskTV for free alerts and bulletins on business solutions
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.
Tips advice and support for better decision making in financial services industry. Improve conduct risk. Change the way your business relates to your customers. Upgrade your risk management and conduct risk governance framework to ensure everyone knows who does what and when. This should embrace accountability for the consequences of not managing conduct risks in accordance with clear risk management principles risk appetite of the business.
Develop new financial conduct risk compliant products to boost business performance and sustainable business growth
BusinessRiskTV
The whole business needs to report on conduct risk performance. The risk function should help monitor conduct risks within the risk management plan but everyone in the business should be accountable for good customer outcomes. Internal Audit should check the documentation for conduct risk management challenging the whole business and the risk function to improve conduct risk effectively.
The Board executives and senior managers need to develop and embed the right risk management culture for the business risk tolerance and risk appetite. However all staff should be held to account by ensuring that all remuneration and incentives are linked to good risk management practices.
If people are to be held to account the business the board and senior managers must provide the tools to ensure that all staff are capable of delivering conduct risk management principles and practices. This includes training staff developing good risk management systems and early risk warning indicators to enable rapid corrective action to prevent severe impact on business objectives and major personal failure.
What is your financial services business appetite for risk?
BusinessRiskTV
Cut through the management information overload to focus on the conduct risks that matter to your business success and key customer outcomes. Do not procrastinate. Act to remedy deteriorating conduct risks and monitor the effectiveness of your risk management action plan.
Identify the best Key Risk Indicators KRIs and Key Control Indicators KCI for your financial services buisness.
Change your technological solutions to deliver better conduct risk management
Improve organisational behaviour and your risk culture to boost business performance more sustainably
Senior managers and executives will increasingly become accountable for conduct risk in UK. Protect yourself better and find new ways to comply with regulatory obligations whilst increasing your business growth.
Embed a positive risk management culture. Assess from clients point of view whether good customer outcomes are achieved consistently. Analyse trends to identify areas which may need further more in depth investigation and conduct risk assessment. The conduct risk assessment should not just focus on known risks but encompass emerging risks from external and internal risk factors.
Improve customer outcomes from financial services and products. Embed conduct risk in your holistic risk management framework.
BusinessRiskTV
Take steps to make it more likely that your financial products and services meet your customers needs. Deliver better outcomes for your customers with better conduct risk management framework principles and risk assessment process.
What is your risk management capability? How does it address conduct risk. All financial services industry businesses need to develop the right skillset. Organisations need to gather the right management information at the right time and disseminate risk controls have appropriate risk assessment. Does your risk management information system RMIS help you make the right decisions at the right time?
Mitigate the disadvantages of conduct risk and maximise the opportunities from conduct risk management with
BusinessRiskTV
Are you personally accountable? Do you want more comfort that you are doing the right things at the right time? Improve you overview of regulatory compliance and supervisory expectations of conduct risk management.
Effectively empower your colleagues to manage conduct risk better. Treat your customers fairly and protect them and your business from poor conduct risk management.
The Financial Conduct Authority FCA in UK expects your financial services business to embed conduct risk management into your enterprise risk management framework. You need to use risk based management information to make better conduct risk management decisions.
Upgrade your governance risk and compliance GRC in a more holistic integrated way to achieve more with less uncertainty in UK.
Review your risk management framework principles and risk assessment process to boost business performance. Do not just comply with regulations. Prosper with more certainty.
Understand emerging conduct risks. Manage known existing risks better. Allocate existing resources for better return in conduct risk management. Improve customer outcomes. Know what customers want and need. Gain a competitive advantage within financial services industry.
Treat customers fairly do not just look at process improvement. Be reasonable as a minimum and look to build upon existing conduct risk management. Make sure when you develop financial products and services you meet the objectives and interests of your target market.
Does your risk appetite statement cover conducts risks? Proactively identify conduct risks. Tackle possible unfair customer outcomes before they occur. React more positively when adverse customer outcomes arise.
Develop the best strategic risk management plan for your business to
Improve a weak compliance system
Improve poor risk management culture
Build a more sustainable business model
Provide better financial advice
Avoid mis selling scandals
Protect customers interests
Create the conduct risk management plan that works for your business. Understand conduct risk better. Know what you can get out of conduct risk management.
Drive your business forward more confidently without impinging on good customer outcomes.
Identify key conduct risks
Take meaningful action to manage risks better
Audit and report against your business conduct risk appetite
Produce evidence of good customer outcomes as well as negative outcomes
Make first line business units responsible for conduct risk management supported by good risk management guidance and oversight
Make your management information systems and technology support business objectives
Do you own or manage a financial services business?
Yes you can get your wrists slapped with non compliance fines and destruction of your brand reputation but you could be missing the opportunity to win new market share in the financial services industry.
Overcome weaknesses
Build on existing strengths
Seize new business development opportunities
Mitigate the threats to your business objectives
Develop open transparent communication across the organisation on conduct risk management. Stop paying lip service to the principles of good conduct risk management. Keep conduct risk management simple. Measure and report on conduct risk in accordance with the level of risk to corporate objectives. Involve the whole organisation in the management of conduct risks.
Improve your governance risk culture and risk management capability
Latest business news UK with latest financial news on BusinessRiskTV
Subscribe to BusinessRiskTV Live for free live alerts and ondemand bulletin posting to read and view at your leisure
Real time business and economy news and analysis of financial markets. Live news coverage of the latest risk events the marketplace and the economy. Access free risk analysis to understand the potential impact on your business form our risk experts around the world.
BusinessRiskTV Online Digital Streaming Business Network
Increasing live business and economy analysis programming. Online live business meetings with business leaders and commentators. Overcome business problems with risk management experts.
Get all the latest business and economy news:
UK Business News
Markets News
Financial News
Economic News
International Business News
Listen in to expert business risk management commentary.
Global Business Insight Local Business Knowledge
Subscribe to receive alerts to upcoming live online programmes
Subscribe to BusinessRiskTV Business Live
Business financial data and risk insight
Using business enterprise risk management tools to help inform business leaders. Pushing the boundaries with pioneering new formats to reach more people in UK and beyond. Connecting with business leaders and entrepreneurs around the world.
Live video streaming for business will help identify assess and control corporate enterprise risks.
Collaborate and trade with people for mutual benefit
Looking for online business reporters and Citizen Journalists to expand the pool of providers to this online channel. Communicate online to a broader range of consumer audience and business key decision makers.
