Tag: Business Solutions

BusinessRiskTV.com business solutions

BusinessRiskTV.com is a global online platform that offers business solutions to companies of all sizes and industries. It provides a range of tools and resources to help businesses identify, assess, and manage risks, as well as opportunities, that may impact their operations. The platform aims to empower businesses to make informed decisions and take proactive measures to mitigate risks and enhance their competitiveness.

One of the key features of BusinessRiskTV.com is its Risk Management Hub, which provides access to a wide range of risk management resources, including articles, videos, and webinars. The Hub covers various topics, such as cyber risk, financial risk, legal risk, and reputational risk. Businesses can use these resources to better understand the risks they face and develop strategies to manage them effectively.

In addition to the Risk Management Hub, BusinessRiskTV.com also offers a range of other solutions to help businesses manage their risks. These include:

Risk Assessment Tools: BusinessRiskTV.com offers a range of risk assessment tools that businesses can use to identify and assess risks in their operations. These tools are designed to be user-friendly and customisable, so businesses can tailor them to their specific needs.

Risk Management Software: The platform also offers risk management software that businesses can use to track and manage risks in real-time. The software provides a central repository for all risk-related information, making it easier for businesses to stay on top of their risk management efforts.

Business Continuity Planning: … Read on

BusinessRiskTV Algorithm of Abundance

#UKFutureTech : UK market with future-oriented tech today

Imagine: a world where the constraints of geography, language, and traditional financial structures dissolve. Not a utopian fantasy, but a tangible horizon, constructed from the converging forces of multilingual AI, quantum computing, blockchain, and tokenisation. The antiquated systems of education, the ones that often feel like holding pens for young minds, are no longer the sole gatekeepers to prosperity. I’m talking about a paradigm shift. One where the individual, armed with the right knowledge and tools, can architect their own destiny.

“The future is already here – it’s just not evenly distributed,” William Gibson famously observed. And he was right. Because we see the seeds of this future, a future where traditional barriers crumble, springing up all around us. But how do we harness it? How do we move from passive observer to active architect? This is not a theoretical exercise. This is about building a tangible, actionable framework for wealth, health, and happiness in a world undergoing radical transformation. Busting us out of the limitations of the past, we must first understand the tools at our disposal.

Let’s cut through the noise. Forget the platitudes. Forget the motivational fluff. We’re here for concrete strategies, actionable insights, and a clear roadmap. We’re here to build a lifestyle where the old rules don’t apply. Understanding how to leverage these tools is not just about financial gain. It’s about unlocking a new level of personal freedom. It’s about building a life that is truly aligned with your values. It’s about, quite simply, living better. And we can do it.

Navigating the Future of Wealth, Health, and Happiness

The Linguistic Labyrinth – Breaking Down Language Barriers with AI

Language, historically, has been a barrier, a moat surrounding opportunities. But the rise of sophisticated multilingual AI is changing the game. We’re not talking about clunky translation software. I’m talking about AI that understands nuance, context, and cultural subtleties. Imagine instantly accessing global markets, forming international partnerships, and engaging with diverse communities, all without linguistic limitations. This is the power of multilingual AI.

  • Actionable Insight 1: Leverage Real-Time Translation and Localisation Tools:
    • Investigate and integrate AI-powered translation tools like DeepL, Google Translate API, and Microsoft Translator API into your communication workflows.
    • Explore platforms that offer real-time translation for video conferencing and webinars, facilitating seamless international collaboration.
    • Utilise localisation services that adapt content for specific cultural contexts, ensuring your message resonates with diverse audiences.
  • Actionable Insight 2: Develop Multilingual Content Strategies:
    • Identify key international markets and create content tailored to their linguistic and cultural preferences.
    • Use AI-powered tools to analyse language trends and optimise your content for search engines in multiple languages.
    • Consider creating multilingual versions of your website, blog, and social media content to expand your reach.
  • Actionable Insight 3: Learn Key Phrases in High-Value Languages:
    • Even with AI, understanding basic phrases in key languages like Mandarin, Spanish, or Arabic can significantly enhance communication and build rapport.
    • Use language learning apps like Language Transfer, Duolingo, Babbel, or Memrise to acquire practical language skills.
    • Focus on phrases related to your industry or area of interest, making your communication more relevant and effective.

The ability to communicate effectively across languages opens up a world of opportunities. It’s about more than just translating words; it’s about bridging cultural gaps and building meaningful connections. And this is vital. Busting us out of the isolation that limited language creates.

The Quantum Leap – Unlocking Computational Power for Innovation

Quantum computing, once a theoretical concept, is now a tangible reality. It promises to revolutionise industries from finance to healthcare, offering unprecedented computational power. This isn’t just about faster computers. It’s about unlocking solutions to problems that were previously considered unsolvable.

  • Actionable Insight 4: Stay Informed About Quantum Computing Developments:
    • Follow leading research institutions and companies involved in quantum computing, such as IBM Quantum, Google Quantum AI, and Microsoft Quantum.
    • Subscribe to industry publications and attend conferences to stay up-to-date on the latest advancements.
    • Explore online courses and resources to gain a foundational understanding of quantum computing principles.
  • Actionable Insight 5: Identify Potential Applications in Your Field:
    • Consider how quantum computing could be used to optimise processes, solve complex problems, or develop new products and services in your industry.
    • Explore potential applications in areas like financial modelling, drug discovery, materials science, and artificial intelligence.
    • Brainstorm innovative ideas and collaborate with experts to explore the possibilities.
  • Actionable Insight 6: Build a Network of Quantum Computing Experts:
    • Connect with researchers, developers, and entrepreneurs working in the field of quantum computing.
    • Attend industry events and join online communities to expand your network and learn from others.
    • Consider collaborating with quantum computing startups or research institutions on joint projects.

The potential of quantum computing is immense. And we are just beginning to scratch the surface. This technology will reshape the world as we know it. We must be prepared. Busting us out of the computational limitations of the classic computer, the quantum computer opens new doors.

The Blockchain Revolution – Decentralising Finance and Trust

Blockchain technology is transforming industries by decentralising data and transactions. It offers transparency, security, and efficiency, disrupting traditional financial systems and creating new opportunities for innovation. This is about more than just cryptocurrencies. It’s about building trust in a decentralised world.

  • Actionable Insight 7: Understand the Fundamentals of Blockchain Technology:
    • Learn about the underlying principles of blockchain, including cryptography, consensus mechanisms, and distributed ledgers.
    • Explore different blockchain platforms, such as Ethereum, Binance Smart Chain, and Solana, and their respective strengths and weaknesses.
    • Familiarise yourself with key concepts like smart contracts, decentralised applications (dApps), and decentralised finance (DeFi).
  • Actionable Insight 8: Explore Opportunities in Decentralised Finance (DeFi):
    • Investigate DeFi platforms that offer lending, borrowing, and yield farming opportunities.
    • Learn about stablecoins and their role in mitigating volatility in the cryptocurrency market.
    • Consider participating in decentralised autonomous organisations (DAOs) to contribute to the governance of DeFi projects.
  • Actionable Insight 9: Utilise Blockchain for Supply Chain Management and Data Security:
    • Explore how blockchain can be used to track products and ensure transparency in supply chains.
    • Implement blockchain-based solutions for data security and identity management, protecting sensitive information from unauthorised access.
    • Consider using blockchain for digital asset management and intellectual property protection.

The blockchain is more than a technology; it’s a paradigm shift. It’s about empowering individuals and creating a more equitable and transparent world. And this is critical. Busting us out of centralised financial systems, the blockchain offers a new level of freedom.

The Tokenisation of Everything – Creating New Asset Classes and Opportunities

Tokenisation is the process of converting real-world assets into digital tokens on a blockchain. This creates new asset classes, increases liquidity, and democratises access to investment opportunities. This is about more than just digital collectibles. It’s about redefining ownership and value.

  • Actionable Insight 10: Explore the Potential of Non-Fungible Tokens (NFTs):
    • Learn about the different types of NFTs and their applications in art, music, gaming, and other industries.
    • Consider creating or investing in NFTs that align with your interests and values.
    • Explore platforms like OpenSea, Rarible, and SuperRare for buying and selling NFTs.
  • Actionable Insight 11: Investigate Tokenised Real Estate and Other Asset Classes:
    • Explore platforms that offer tokenised real estate investments, allowing you to diversify your portfolio with fractional ownership.
    • Investigate opportunities in tokenised commodities, securities, and other asset classes.
    • Understand the regulatory landscape surrounding tokenised assets and ensure compliance with relevant laws.
  • Actionable Insight 12: Develop Tokenisation Strategies for Your Business:
    • Consider how tokenisation can be used to create new revenue streams, improve customer engagement, or enhance brand loyalty.
    • Explore the potential of creating loyalty tokens, community tokens, or other digital assets that represent value for your business.
    • Consult with blockchain experts and legal professionals to develop a comprehensive tokenisation strategy.

Tokenisation is about democratising access to assets and creating new opportunities for wealth creation. It’s about unlocking the value of everything. And we can do it. Busting us out of traditional investment models, tokenisation opens up new possibilities.

Integrating the Technologies – Building a Holistic Ecosystem

The true power lies in integrating these technologies into a holistic ecosystem. Multilingual AI facilitates global communication, quantum computing unlocks computational power, blockchain decentralises finance and tokenisation creates new asset classes. Imagine a world where you can seamlessly communicate with anyone in the world, access unprecedented computational power to solve complex problems, participate in decentralised financial systems, and invest in tokenised assets, all within a single, interconnected ecosystem. This is the future we are building.

  • Actionable Insight 13: Develop a Personal Ecosystem Strategy:
    • Identify your key goals and objectives in terms of wealth, health, and happiness.
    • Determine which technologies are most relevant to your goals and how they can be integrated.
    • Create a roadmap for implementing your ecosystem strategy, including timelines and milestones.
  • Actionable Insight 14: Build a Network of Interdisciplinary Experts:
    • Connect with experts in AI, quantum computing, blockchain, and tokenisation.
    • Attend industry events and join online communities to expand your network and learn from others.
    • Consider forming partnerships with individuals and organisations that complement your skills and expertise.
  • Actionable Insight 15: Embrace Continuous Learning and Adaptation:
    • The technologies we are discussing are constantly evolving, so it is essential to stay informed and adapt to new developments.
    • Develop a habit of continuous learning by reading industry publications, attending webinars, and experimenting with new tools and platforms.
    • Be open to change and willing to pivot your strategy as needed.

By integrating these technologies, we can create a powerful ecosystem that empowers individuals to achieve their full potential. This is about more than just individual success. It’s about building a more equitable and prosperous world for all. Busting us out of siloed thinking, we need to create a synergistic system.

Health and Longevity – Leveraging Technology for Well-being

The pursuit of wealth should not come at the expense of health. Technology can play a vital role in enhancing our well-being and extending our lifespan. We can leverage AI, quantum computing, and blockchain to personalise healthcare, optimise nutrition, and track our fitness.

  • Actionable Insight 16: Utilise AI-Powered Health and Fitness Trackers:
    • Explore wearable devices and apps that use AI to monitor your vital signs, track your activity levels, and provide personalised insights into your health.
    • Use AI-powered nutrition apps to optimise your diet and ensure you are getting the nutrients your body needs.
    • Consider using AI-powered mental health apps to manage stress, improve sleep, and enhance your overall well-being.
  • Actionable Insight 17: Explore Personalised Medicine and Genomics:
    • Learn about the potential of genomics and personalised medicine to tailor healthcare treatments to your individual genetic makeup.
    • Investigate companies and research institutions that are developing innovative solutions in this field.
    • Consider participating in genetic testing to gain insights into your health risks and predispositions.
  • Actionable Insight 18: Leverage Blockchain for Secure Health Data Management:
    • Explore blockchain-based solutions for storing and sharing health data securely and efficiently.
    • Consider using blockchain to track the provenance of pharmaceuticals and ensure the authenticity of medical supplies.
    • Investigate the potential of blockchain to facilitate decentralised clinical trials and accelerate medical research.

Health is the foundation of a fulfilling life. We must prioritise our well-being and leverage technology to optimise our health and longevity. Busting us out of outdated healthcare models, we can use technology to empower our own health.

The Future of Education – Beyond Traditional Models

The traditional education system is often ill-equipped to prepare individuals for the rapidly changing world. We need to embrace new models of learning that are personalised, flexible, and accessible. We can leverage AI, blockchain, and online platforms to create a more effective and engaging learning experience.

  • Actionable Insight 19: Embrace Online and Blended Learning:
    • Explore online courses and platforms that offer flexible and personalised learning opportunities.
    • Consider pursuing micro-credentials and certifications that demonstrate your skills and expertise.
    • Utilise online communities and forums to connect with other learners and experts in your field.
  • Actionable Insight 20: Leverage AI for Personalised Learning:
    • Explore AI-powered learning platforms that adapt to your individual learning style and pace.
    • Use AI-powered tutoring tools to get personalised support and feedback.
    • Consider using AI to create personalised learning paths and recommendations.
  • Actionable Insight 21: Utilise Blockchain for Educational Credentials and Verification:
    • Explore blockchain-based solutions for issuing and verifying educational credentials.
    • Consider using blockchain to create a decentralised learning record that is portable and secure.
    • Investigate the potential of blockchain to facilitate peer-to-peer learning and knowledge sharing.

Education should be a lifelong pursuit, not a one-time event. We must embrace new models of learning that empower individuals to acquire the skills and knowledge they need to thrive in the future. Busting us out of the old school system, we need to build a new one.

Building a Global Community – Connecting and Collaborating

The future is global. We need to build a community of like-minded individuals who are passionate about leveraging technology to create a better world. We can use online platforms, social media, and virtual events to connect and collaborate with people from all over the globe.

  • Actionable Insight 22: Join Online Communities and Forums:
    • Participate in online communities and forums related to AI, quantum computing, blockchain, and tokenisation.
    • Connect with experts and other enthusiasts to share knowledge and ideas.
    • Consider creating your own online community or forum to foster collaboration and innovation.
  • Actionable Insight 23: Attend Virtual and In-Person Events:
  • Actionable Insight 24: Collaborate on Open-Source Projects:
    • Contribute to open-source projects related to AI, blockchain, and other technologies.
    • Collaborate with other developers and researchers to create innovative solutions.
    • Build your portfolio and demonstrate your skills by contributing to meaningful projects.

We are stronger together. By building a global community, we can accelerate innovation and create a more equitable and prosperous world. Busting us out of our isolated bubbles, we must build bridges.

Ethical Considerations – Building a Sustainable Future

As we embrace these powerful technologies, it is essential to consider the ethical implications. We must ensure that these technologies are used for good and that they benefit all of humanity. We need to build a sustainable future that is both prosperous and equitable.

  • Actionable Insight 25: Promote Ethical AI and Blockchain Development:
    • Support organisations and initiatives that are working to develop ethical guidelines and standards for AI and blockchain.
    • Consider the potential biases and unintended consequences of these technologies.
    • Advocate for responsible innovation and transparency.
  • Actionable Insight 26: Invest in Sustainable and Impactful Projects:
    • Support projects and initiatives that are addressing global challenges such as climate change, poverty, and inequality.
    • Consider investing in companies and organisations that are committed to sustainability and social responsibility.
    • Use your skills and expertise to contribute to projects that are making a positive impact.
  • Actionable Insight 27: Educate and Empower Others:
    • Share your knowledge and expertise with others to help them understand the potential and implications of these technologies.
    • Mentor and support aspiring entrepreneurs and innovators.
    • Advocate for policies that promote innovation and equitable access to technology.

We have a responsibility to use these technologies wisely. By prioritising ethical considerations and building a sustainable future, we can create a world that is both prosperous and just. Busting us out of short sightedness, we must consider the long term.

Conclusion: The Algorithm of Abundance – A Call to Action

The future is not something that happens to us. It is something we create. We have the tools and the knowledge to build a world of abundance, health, and happiness. It is up to us to take action and make it happen. We encourage you to embrace these technologies, build your own ecosystem of abundance, and join the global community of innovators who are shaping the future.

The algorithm of abundance is not a theoretical concept. It is a tangible reality that we can create together. Let’s get started.

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Technology Risks In Business Risk Management BusinessRiskTV

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The Algorithm of Abundance

Resilient Business Growth No Matter The Business Environment

How to build a resilient business growth strategy despite political and economic uncertainty

“In the turbulent theatre of modern business, where the next political decree can feel like a plot twist from a poorly written drama, one statistic stands stark: 8 out of 10 businesses fail within the first 18 months. Not because of a lack of passion, not because of poor ideas, but often, because of unmanaged risks. You, like me and countless other resilient business leaders, refuse to let external chaos dictate your destiny. We’re driven by an insatiable hunger for growth, a refusal to be sidelined by political whims. If your appetite for business expansion is undiminished, if you’re searching for a community of like-minded individuals to navigate the ever-shifting sands of commerce, then you’ve found your tribe. Welcome to the BusinessRiskTV Business Risk Management Club. This isn’t just another networking group; it’s a strategic alliance, a fortress of knowledge, and a launchpad for accelerated, resilient growth.”

Let’s face it. We’ve all seen the news. Regulations change overnight. Markets fluctuate wildly. And don’t even get me started on the global economic climate. You’re a business leader. You’re not looking for excuses, you’re looking for solutions. That’s why we built this club.

What is the BusinessRiskTV Business Risk Management Club?

It’s a curated community designed to empower you with the tools, insights, and connections needed to thrive in any environment. We understand that risk isn’t just about avoiding disaster; it’s about identifying opportunities hidden within uncertainty. It’s about turning potential threats into competitive advantages.

Enterprise Risk Management Magazine articles
Growing Through All Types Of Business Environments

Why Join Our Business Risk Management Club?

  • Strategic Insights: You’ll gain access to exclusive webinars, workshops, and reports from leading risk management experts. We’re not talking about generic advice. We’re talking about actionable strategies tailored to the real-world challenges you face.
  • Peer-to-Peer Learning: Connect with a network of seasoned business leaders who understand the pressures you face. Share best practices, collaborate on projects, and find mentors who can guide you through your growth journey.
  • Risk Mitigation Tools: We provide members with access to proprietary risk assessment tools and frameworks, enabling you to identify and mitigate potential threats before they impact your bottom line.
  • Growth Acceleration: Our focus is on empowering you to capitalise on emerging opportunities and accelerate your business growth, regardless of the external environment.
  • “You can’t control the weather, but you can build a stronger ship.” This is the core of our philosophy. We equip you to navigate any storm.

Risk Management Business Intelligence You Can Work From:

  1. Monthly Risk Intelligence Briefings:
    • These briefings provide in-depth analysis of emerging risks and opportunities, covering geopolitical, economic, and technological trends.
    • Each briefing includes actionable recommendations and case studies to help you apply the insights to your own business.
    • We will break down complex information into digestible, practical takeaways.
    • For example, a recent briefing explored the impact of AI on cybersecurity, providing strategies for protecting your business from evolving threats.
  2. Interactive Risk Assessment Workshops:
    • These workshops guide you through a structured process for identifying and assessing risks within your organisation.
    • You’ll learn how to develop risk mitigation plans and monitor their effectiveness.
    • We use real-world scenarios and interactive exercises to enhance your understanding.
    • “I have seen many businesses fail due to lack of planning, these workshops will provide you with the tools to plan.”
    • We will provide templates for risk registers and risk impact matrices.
  3. Industry-Specific Risk Forums:
    • Connect with peers in your industry to discuss specific risk challenges and share best practices.
    • These forums provide a platform for collaborative problem-solving and knowledge sharing.
    • We cover a wide range of industries, including finance, technology, healthcare, and manufacturing.
    • We will focus on the most pressing risk that affect each industry.
  4. Exclusive Access to Risk Management Tools:
    • Our members receive access to proprietary risk assessment software and templates, enabling them to streamline their risk management processes.
    • These tools include risk registers, risk impact matrices, and scenario planning templates.
    • We provide training and support to help you maximise the value of these tools.
    • We will provide the tools that allow you to visualise your risk.
  5. Personalised Risk Consulting:
    • Members can schedule one-on-one consultations with our risk management experts to address specific challenges and develop tailored solutions.
    • These consultations provide personalised guidance and support to help you achieve your business goals.
    • We focus on delivering practical, actionable advice that you can implement immediately.
    • We will pair you with a risk management expert that specialises in your industry.
  6. “Navigating Political Uncertainty” Forum:
    • This ongoing series focuses on providing strategies to mitigate the impact of political changes on your business.
    • We analyse policy shifts, regulatory changes, and geopolitical events, providing actionable insights.
    • Experts will provide deep insights, and we will translate that into practical advice.
    • “Political uncertainty is a constant, we must adapt.”
  7. “Cybersecurity Resilience” Training:
    • With the increasing prevalence of cyber threats, this training programme equips you with the knowledge and skills to protect your business.
    • We cover topics such as data protection, threat detection, and incident response.
    • Hands-on exercises and real-world case studies enhance your understanding.
    • We will show you how to build a robust cybersecurity framework.
  8. “Supply Chain Risk Management” Workshops:
    • In today’s interconnected world, supply chain disruptions can have a significant impact on your business.
    • These workshops provide strategies for building resilient supply chains and mitigating potential disruptions.
    • We cover topics such as supplier risk assessment, inventory management, and logistics optimisation.
    • We will provide you with a framework to analyse your supply chain.
  9. “Financial Risk Mitigation” Seminars:
    • These seminars focus on providing strategies for managing financial risks, including market volatility, credit risk, and liquidity risk.
    • Experts will provide insights into financial modelling, risk analysis, and hedging strategies.
    • We will help you build a robust financial risk management framework.
  10. “Innovation Risk Management” Programme:
    • Innovation is essential for growth, but it also involves risks.
    • This programme provides strategies for managing the risks associated with innovation, including product development, market entry, and technology adoption.
    • We will provide a framework for balancing innovation with risk mitigation.

Addressing You Directly:

You understand the challenges of running a business in today’s environment. You’ve seen the impact of unpredictable regulations and economic fluctuations. You’re looking for a community of like-minded leaders who share your drive and resilience. That’s exactly what you’ll find in the BusinessRiskTV Business Risk Management Club.

Viewers, you’re not alone in your pursuit of growth. You’re not alone in facing the challenges of risk management. We’re here to provide you with the tools, insights, and connections you need to succeed.

The Power of Business Risk Management Club Community:

The club is more than just a collection of resources; it’s a vibrant community of business leaders who are committed to helping each other succeed. We believe that by sharing knowledge and collaborating on solutions, we can overcome any obstacle.

A seasoned entrepreneur, said, “The greatest risk is not taking any risk at all.” But he also stressed the importance of calculated risks, informed decisions, and robust risk management strategies. That’s what we’re here to provide.

Why Join Business Risk Management Club Now?

The business landscape is changing rapidly. The risks are greater than ever. But so are the opportunities. By joining the BusinessRiskTV Business Risk Management Club, you’ll be positioned to capitalise on these opportunities and navigate the challenges with confidence.

Our Commitment to You:

We are committed to providing you with the highest quality resources and support. We are constantly updating our content and tools to ensure that you have access to the latest insights and best practices.

Join the BusinessRiskTV Business Risk Management Club Today:

Don’t let uncertainty hold you back. Join our community of resilient business leaders and accelerate your growth.

Explore our website today to learn more about the BusinessRiskTV Business Risk Management Club and to join our community.

We believe that every business has the potential to thrive, regardless of the challenges it faces. By joining our club, you’ll gain the tools, insights, and connections you need to unlock your full potential.

We look forward to welcoming you to our community.

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Read more risk management articles and view videos :

  1. How to build a resilient business growth strategy despite political and economic uncertainty.
  2. Best risk management tools and community for small business leaders facing regulatory changes.
  3. Strategies for mitigating supply chain risks and accelerating business growth in a volatile market.
  4. Where to find personalised risk consulting and industry-specific risk management forums for entrepreneurs.
  5. Comprehensive cybersecurity resilience training and political uncertainty analysis for business risk mitigation.

Relevant hashtags :

  1. #UncertaintyAdvantage
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  6. #BusinessRiskTV
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Resilient Business Growth No Matter The Business Environment

Co-creating Solutions with Stakeholders

Better communication and collaboration to boost business performance

Co-creation is a process where stakeholders work together to create solutions that meet their collective needs. It is a collaborative approach to problem-solving that emphasises the importance of including all stakeholders in the process of finding and implementing solutions. Co-creation involves listening to different perspectives, brainstorming ideas, and building consensus around the best approach. Co-creation can be an effective way to solve complex problems and create positive change in communities, organisations, and industries. In this article, we will explore how stakeholders can be involved in co-creating change solutions.

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Who are stakeholders?

Stakeholders are individuals or groups who have an interest or stake in the outcome of a decision or action. In the context of co-creation, stakeholders can be any person or group who is affected by a problem or who can contribute to its solution. Stakeholders can include customers, employees, suppliers, investors, government agencies, non-profit organisations, and the community at large. Each stakeholder has a unique perspective, experience, and expertise that can contribute to the co-creation process.

Why involve stakeholders in co-creation?

Involving stakeholders in co-creation has several benefits. First, it can increase the quality of solutions by incorporating a diverse range of perspectives and ideas. When stakeholders are involved in the co-creation process, they can share their experiences, knowledge, and expertise to help identify problems and develop solutions. This can lead to more innovative and effective solutions that better meet the needs of all stakeholders.

Second, involving stakeholders in co-creation can increase stakeholder buy-in and ownership of solutions. When stakeholders are involved in the co-creation process, they are more likely to feel invested in the solutions that are developed. This can increase their willingness to support and implement the solutions, which can lead to greater success in achieving the desired outcomes.

Third, involving stakeholders in co-creation can increase transparency and accountability. When stakeholders are involved in the co-creation process, they can provide feedback on the decision-making process and hold decision-makers accountable for the decisions that are made. This can help ensure that decisions are made in the best interests of all stakeholders and that the process is fair and equitable.

How to involve stakeholders in co-creation?

  1. Identify stakeholders

The first step in involving stakeholders in co-creation is to identify who they are. This involves identifying all the individuals and groups who are affected by the problem or who can contribute to the solution. Stakeholders can be identified through stakeholder mapping, which involves creating a visual representation of all the stakeholders involved in a particular project or issue. Stakeholder mapping can help to identify key stakeholders and their relationships with each other, which can inform the co-creation process.

  1. Engage stakeholders

The next step is to engage stakeholders in the co-creation process. This involves communicating with stakeholders about the problem, the co-creation process, and their role in the process. Communication can take many forms, including meetings, workshops, surveys, and social media. The key is to use communication channels that are appropriate for the stakeholders and that allow for two-way communication.

  1. Define the problem

The third step is to define the problem that needs to be solved. This involves identifying the root causes of the problem and the desired outcomes. Defining the problem is a critical step in the co-creation process, as it provides a common understanding of the problem and the goals that need to be achieved. Stakeholders should be involved in defining the problem, as they can provide valuable insights into the problem and its impact on them.

  1. Brainstorm solutions

Once the problem has been defined, the next step is to brainstorm solutions. This involves generating a wide range of ideas that could potentially solve the problem. Brainstorming can be done individually or in groups, and can be done in person or virtually. The key is to encourage creativity and collaboration among stakeholders. During the brainstorming phase, stakeholders should be encouraged to think outside the box and consider a range of possible solutions.

  1. Evaluate solutions

After generating a list of potential solutions, the next step is to evaluate them. This involves assessing the feasibility, impact, and effectiveness of each solution. Stakeholders should be involved in the evaluation process, as they can provide valuable input on the potential benefits and drawbacks of each solution. It is important to evaluate solutions based on the criteria that were established during the problem definition phase.

  1. Co-create solutions

The next step is to co-create solutions. This involves selecting one or more solutions and working together to develop a plan for implementation. Co-creation can involve stakeholders from different sectors and organisations, as well as individuals with different expertise and experiences. The co-creation process should be collaborative and iterative, with stakeholders working together to refine and improve the solutions.

  1. Implement solutions

Once solutions have been co-created, the next step is to implement them. This involves putting the plan into action and monitoring progress towards achieving the desired outcomes. Stakeholders should be involved in the implementation process, as they can provide valuable feedback on the effectiveness of the solutions and identify any areas that need improvement.

  1. Evaluate and iterate

The final step in the co-creation process is to evaluate and iterate the solutions. This involves assessing the impact of the solutions and identifying opportunities for improvement. Stakeholders should be involved in the evaluation and iteration process, as they can provide valuable insights into the effectiveness of the solutions and identify any areas that need to be improved.

Involving stakeholders in co-creating change solutions is a powerful approach to problem-solving that can lead to innovative and effective solutions. By listening to different perspectives, brainstorming ideas, and building consensus around the best approach, stakeholders can work together to create solutions that meet their collective needs. Co-creation can increase the quality of solutions, increase stakeholder buy-in and ownership, and increase transparency and accountability. By following the steps outlined in this article, organisations and communities can involve stakeholders in co-creating change solutions and achieve positive outcomes that benefit all stakeholders.

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Fixing Common Business Problems

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Fixing Common Business Problems

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Fixing a business can be a daunting task, but it is not impossible. A business can face various challenges, from declining sales to poor employee morale, and if these issues are not addressed in a timely manner, they can lead to the failure of the business.

However, before we dive into the process of fixing a business, it’s essential to understand what exactly needs to be fixed. Here are some of the common problems that businesses face:

Declining Sales: This is one of the most common problems that businesses face. If sales are declining, it means that the company is not generating enough revenue to sustain its operations. This could be due to various reasons, including increased competition, changes in consumer preferences, or economic downturns.

Poor Employee Morale: Employee morale plays a crucial role in the success of a business. If employees are not motivated or engaged, it can lead to decreased productivity, increased absenteeism, and high turnover rates. This could be due to poor management, inadequate training, or a toxic work environment.

Inefficient Processes: If a business is using outdated or inefficient processes, it can lead to increased costs and decreased productivity. This could be due to lack of automation, poor communication, or inadequate training.

Cash Flow Problems: Cash flow is the lifeblood of any business. If a business is facing cash flow problems, it means that it’s not generating enough revenue to cover its expenses. This could be due to slow-paying customers, excessive debt, or poor financial management.

Lack of Innovation: Innovation is essential for the long-term success of any business. If a business is not innovating, it can lead to stagnation and decreased competitiveness. This could be due to a lack of investment in research and development, or a failure to keep up with changing market trends.

Once you have identified the problem, the next step is to develop a plan to fix it. Here are some steps that businesses can take to address these common problems:

Conduct a SWOT Analysis: A SWOT analysis is a useful tool for identifying the strengths, weaknesses, opportunities, and threats of a business. By conducting a SWOT analysis, businesses can identify their areas of strength and weakness and develop a plan to address them.

Set Goals and Objectives: Once the weaknesses have been identified, it’s essential to set specific goals and objectives for addressing them. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART).

Develop an Action Plan: An action plan is a detailed plan that outlines the steps that need to be taken to achieve the goals and objectives. The action plan should include timelines, responsibilities, and resources needed to achieve the goals.

Invest in Training and Development: In many cases, poor employee morale and inefficient processes can be attributed to a lack of training and development. By investing in training and development, businesses can improve employee skills and productivity.

Review and Improve Financial Management: Cash flow problems are often the result of poor financial management. Businesses can address this by reviewing their financial management processes and implementing improvements such as better invoicing practices or more frequent financial reporting.

Embrace Innovation: Innovation is essential for the long-term success of any business. By embracing innovation, businesses can stay ahead of the competition and meet the changing needs of their customers.

Seek Professional Help: In some cases, businesses may need to seek professional help to address their problems. This could include hiring a consultant or seeking advice from industry experts.

While these steps are not exhaustive, they provide a useful framework for fixing a business. Let’s look at some specific examples of how these steps can be applied to common business problems:

Example 1: Fixing Declining Sales

Conduct a SWOT analysis to identify the factors contributing to declining sales. This could include increased competition, changes in consumer preferences, or economic downturns.

Set specific goals and objectives for addressing the factors identified in the SWOT analysis. For example, if increased competition is identified as a factor, a goal could be to increase market share by a certain percentage.

Develop an action plan that outlines the steps needed to achieve the goals and objectives. This could include increasing marketing and advertising efforts, improving product quality, or expanding into new markets.

Invest in training and development for sales staff to improve their skills and productivity.

Review and improve financial management practices to ensure that revenue is being generated and expenses are being controlled.

Embrace innovation by introducing new products or services that meet the changing needs of customers.

Seek professional help if necessary, such as hiring a consultant or seeking advice from industry experts.

Example 2: Fixing Poor Employee Morale

Conduct a SWOT analysis to identify the factors contributing to poor employee morale. This could include poor management, inadequate training, or a toxic work environment.

Set specific goals and objectives for addressing the factors identified in the SWOT analysis. For example, a goal could be to improve employee engagement by a certain percentage.

Develop an action plan that outlines the steps needed to achieve the goals and objectives. This could include improving communication between management and employees, increasing training and development opportunities, or addressing any issues with the work environment.

Invest in training and development for employees to improve their skills and productivity.

Review and improve financial management practices to ensure that employees are being compensated fairly and that benefits are competitive.

Embrace innovation by introducing new programs or initiatives that improve employee engagement and satisfaction.

Seek professional help if necessary, such as hiring a consultant or seeking advice from industry experts.

Fixing a business is not an easy task, but it is essential for the long-term success of any organisation. By identifying the factors contributing to common business problems such as declining sales, poor employee morale, inefficient processes, cash flow problems, and lack of innovation, businesses can develop a plan to address them.

The steps involved in fixing a business include conducting a SWOT analysis, setting specific goals and objectives, developing an action plan, investing in training and development, reviewing and improving financial management practices, embracing innovation, and seeking professional help if necessary.

By taking these steps, businesses can improve their chances of success and achieve their goals. It’s important to remember that fixing a business is a continuous process, and it requires ongoing effort and dedication. But with the right approach, any business can overcome its challenges and thrive in today’s competitive environment.

In addition to the steps outlined above, there are a few other key factors to keep in mind when fixing a business:

Communication is key. Make sure everyone in the organisation is aware of the plan to fix the business and their role in it. Encourage feedback and suggestions from employees to ensure that everyone is on the same page.

Focus on the customer. Ultimately, the success of any business depends on its ability to meet the needs of its customers. Make sure that any changes or improvements being made are geared towards improving the customer experience.

Stay flexible. As the business environment changes, so too will the challenges facing your business. Stay flexible and be prepared to adapt your plan as needed to address new challenges.

Celebrate successes. Fixing a business is hard work, and it’s important to celebrate the successes along the way. This can help to build momentum and maintain morale as the organisation continues to move forward.

Fixing a business is a challenging but essential task that requires a combination of analysis, planning, and action. By identifying the factors contributing to common business problems and taking concrete steps to address them, businesses can improve their chances of success and achieve their goals. Remember to stay focused on the customer, communicate effectively, and stay flexible in the face of new challenges. With these key principles in mind, any business can overcome its challenges and thrive in today’s competitive environment.

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Get to know about what really matters for your increased business success, or even survival

Find out what you do not know about your business performance key risk indicators and key control indicators. Overcome poor business performance.

Reflect on past experiences of good and bad business risk management. Accept responsibility corporately and individually for business risk management performance.

360 feedback is critical to learning from your business mistakes and identifying business improvement actions. Involve key people inside and outside of your business to engage your whole workforce in the development of a new business risk management strategy to improve your business success in future. Work better together to take in-house the responsibility of improving your business. We can help mentor your new business risk management strategy, but ultimately success or failure is in your hands.

Learn from your mistakes and the mistakes of other business leaders

We learn from our mistakes. We learn more from failure than from our successes. They don’t always have to be our own mistakes. Sure, learn from your own mistakes but also learn from other business leader mistakes. To boost your business success also learn from the successes, skills and experiences of other business leaders.

  • How are decisions made in your business?
  • Do you involve everyone in the decision-making process to ensure you use every last drop of good and bad experiences to improve your business?
  • How do you leave no stone unturned in the pursuit of your business survival and prosperity?

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What should you be worried about as business leader in 2023?

The things business leaders should be worried about if you want to really be successful in business

Here are some things business leaders should have in mind when deciding where to deploy finite money time and energy:

  1. Market trends and competition: Keeping an eye on market trends and understanding the competitive landscape can help business leaders make informed decisions about the direction of their company.
  2. Customer needs and satisfaction: Understanding and meeting the needs of customers is critical for any business. This can involve gathering feedback, analysing customer data, and continuously improving products and services to meet changing customer needs.
  3. Financial performance and sustainability: Business leaders should be mindful of the financial health of their company and strive to achieve profitability and financial stability. This may involve setting financial goals, monitoring financial metrics, and making strategic financial decisions.
  4. Employee satisfaction and retention: Happy and engaged employees can drive business success, so it is important for business leaders to prioritise employee well-being and create a positive work culture. This can involve offering competitive benefits, promoting professional development, and fostering a positive engaging work environment.
  5. Legal and regulatory compliance: Businesses must operate within the bounds of the law and adhere to any relevant regulations. This can involve ensuring that business practices and processes are compliant with laws and regulations, and staying up to date on any changes to legal or regulatory requirements.
  6. Innovation and growth: Business leaders should be proactive in seeking out opportunities for growth and innovation. This can involve developing new products or services, entering new markets, and finding ways to differentiate the business from competitors.

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What will be business world be like in 2023

How can a business survive during a recession

What should a business do during a recession?

What should a business do during a recession

Many very large businesses have already announced profit warnings. others have stopped recruiting. Central banks are stopping the release of cheap money into the economy. we have said for sometime now, that a global recession is coming to your business. have you prepared your business? What are you waiting for?

Rising unemployment is a common painful fact of a recession. With the current shortage of skills and high employment levels, many are burying their head in the sand about the economic factors which will bring about a global recession within the next 12 to 18 months. Too busy with other problems to think that far ahead, I hear you say? an understandable retort when business resources are limited. however, if you only invest your time and money in fighting current fires, you will always be reactive fighting current fires. taking some time to be more proactive, will enable you to breathe more easily and fight fewer fires.

How can your business prepare for and weather the coming global recession storm:

  • Simply battening down the hatches may not be the way to survive. Waiting for the storm to blow over may result in your business being blown away!
  • Stopping your investment in the right places of your business would be a mistake. knowing which parts of your business are the right parts is the tricky question.
  • Now, before the storm, maybe the time to review your business strategy and come up with an alternative risk management strategy to survive the change in business environment.

Will your business survive and thrive during a recession, perhaps a longer depression?

How can a business grow during a recession

Do you think keeping what you’ve got is the only business strategy to survive a long recession? Could you grow your way out of a recession:

  • Cutting your customer base yourself may be one way to shore-up your business resilience. Most of a business profit comes from a small percentage of its customer base. If your customers just bring turnover not profit they may sink your business not save it!
  • Boosting your productivity maybe an easier win then you think. Working smarter with your existing resources and assets will help your business sweat out more money.
  • Reaching out to more customers and markets maybe a better way to survive. Some of your competitors may have too much fat on their prices. Others may be great businesses but too much debt holes their business development strategy and they may go under. Other businesses will have opportunities from the survival of the fittest not necessarily the biggest or best.

Some businesses and business owners will get rich during the coming global recession. Your business will be affected by the recession, but it doesn’t need to be all bad or fatal.

Business strategy during recession

Managing debt down will be a crucial part of survival. That does not mean stopping spending. It means taking care to spend your money on the right things during a recession.

You need to look again at your decision-making. What are your priorities in a recession, compared to normal business environment?

Laying off workers may be a lazy business strategy. it is an easy obvious way to cut costs but it may mean that you are cutting your own business throat.

What is your business really good at? How can you do more of it? controlling cash flow and unnecessary spending is important, but that does not mean cutting investment in your business future.

Just because a business is big does not mean it will survive, nor does it mean that small businesses will suffer the most during a recession. Some of the biggest businesses that look amazing may have underlying issues that will sink them. small businesses who react quickly may be able to pick up the pieces.

How does the economy affect businesses

The more resilient a business is, the more likely it will be to survive the multitude of risks facing businesses in the current business climate. As a business leader you may not have control over all risk events which occur in the global economy, but you can be prepared for every eventuality.

Recessions affect different businesses differently. Do you understand what could sink your business? Are your risk control measures working? Have you put in place appropriate risk control measures for impending imminent future risks that may develop. is your business prepared?

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More information from previous archived articles and Videos:

What should businesses do in a recession

How to overcome an economic crisis after COVID-19

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When will the economic downturn happen

How to overcome economic problems thrown up by a recession

Causes and effects of a recession in the UK

Effects of a recession on families and businesses in the UK

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How business leaders can get help and support for business protection and growth

Your business can get advice, help and knowledge or business intelligence to solve most problems. Do you ask others for help to improve your business? Entrepreneurs and business leaders are usually ambitious, independent, and optimistic—and often don’t like asking for help. However, an opportunity to quickly and practically explore potential business solutions can save you time and money.

Few people, if any, have all the best answers to common questions that need answering in a practical pragmatic way. If one solution doesn’t work for you, come back for ideas to inspire you to solve your business problem in a different way. Be positive. By finding out what doesn’t work for your business you are one step closer to finding out what will work.

If you come up against a hurdle to your business success, jump over with the help and support of BusinessRiskTV.

Why is it important to ask for help in business?

Perhaps encouragingly, because if asked people tend to want to help. If you don’t find the complete business solution to your business problem, you may find one piece of the jigsaw that is a catalyst to inspire you to complete the rest by yourself.

How do I ask for help with my business?

There are a number of ways. Some are free to BusinessRiskTV subscribers. Others are only for our members.

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Our service creates many opportunities for you to protect and grow your business faster with less uncertainty holding you back.

How do you politely ask for help?

We don’t have to work in isolation. You can get help and support for your business from BusinessRiskTV membership. In addition, we facilitate collaboration with other business leaders near you and globally, so you have opportunities to ask other like-minded business leaders how they have already overcome your business hurdles. If you ask politely, respecting their need to solve their own business problems, you will find they can offer insight into how you can improve your business, from their experience of managing their business risks.

Asking for help can lead to business growth

A balanced business risk management strategy should not just look to stop bad things happening to your business. Your business risk management strategy should explore the best business growth opportunities to help you figure out how to expand your sales profitably faster.

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We offer a range of opportunities to members to enable them to explore business growth when they want to.

Complex businesses can still be improved by simple practical ideas

The best way forward for your business may not be too complicated with a different look at your problem. Sometimes a different perspective of your problem from fresh eyes can unplug the blockage to your business successfully achieving your business objectives.

Are you nurturing new business relationships?

Talking online to like-minded people can be enormously rewarding. Even if your talking more to other business leaders does nothing more than confirm your own thoughts for best business solutions for your business, it is worth investing in talking more.

Are you making the most of tour investment in your current business relationships? Maybe by inviting them into our circle of like-minded business people you can help your existing business relationships produce more for mutual benefit. For example, our business risk management tools can help you and your existing business relationships identify new business development opportunities for mutual business growth.

Asking for help can be good for your business

We are sure you are ambitious for yourself and your business. Ask others for help, and broaden your network to get it. Seeking advice support and tips from new mentors, peers, partners, suppliers and even new customers can help you to help yourself and them. Examples include but not limited to:

  • Mentors – want the satisfaction of helping others. You can give them a new opportunity to do so by helping your business.
  • Peers – can be your competition, but you may not be competing in the same marketplace. Peers in USA may not be selling in UK so happy to help you in UK. You may even discover opportunities to collaborate to cross-sell into each others market with reciprocal support.
  • Partners – new business partnerships, formal or informal, can be formed to explore business growth for mutual benefit.
  • Suppliers – may be itching for you to buy a better product they offer but a failure in communication means both you and your suppliers are missing out on faster business growth.
  • Customers – you may not have truly understand what they need and you have only scratched the surface of your potential working relationship.

A little more trust and transparency can be derived from better communication. We aspire to improving business risk management communication between all stakeholders in a business including the above stakeholders.

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The pandemic, the war, the energy crisis, the food crisis and the health crisis will create economic chaos over the next couple of years. That does not mean you might as well shut up shop and go home! When chaos causes other business leaders to fold you need to become even more creative, flexible and dynamic. To prepare for the ensuing economic disaster you need to build on your hard work managing effects of pandemic to cover more issues including continuing supply problems, rising costs and bad debt. You may have thought that now a couple of years after the pandemic started you could start to breath more easily. Unfortunately the economic effects of the pandemic were smoothed out with unprecedented monetary support from global governments. However their magic money tree has died! You are on your own now. Now we will see who really are the good business leaders.

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We do not yet know and will never know with certainty, what key risks we will have to deal with in business. This is why we are horizon scanning for you. Our risk management experts are analysing and assessing new risks. We are researching and developing new risk management solutions. Subscribe for free to BusinessRiskTV to keep up to date with potential new threats and opportunities for your business.

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Get the best people to help you fix your business problems. Our risk experts hub can help you parachute in help at the right time more affordably for the correct amount of time. Sharpen your competitive edge to help your business succeed. Track the latest risk management information to inform your business decision-making process. Ensure you are not wasting money on poor business options and maximise the return on your available cash.

How can you solve the business problems holding your business back

  • Identify and clearly define the threats and opportunities impacting on your business objectives. When you understand the issues that could impact on your business you can focus your money and time on the things that matter to your business success or failure.
  • Pursue the opportunities most likely to help you achieve your business objectives.
  • Adopt a risk management process which will help you make better business decisions by reducing uncertainty.
  • Evaluate the solutions to your most important business issues to maximise the return on your investment of time Nd money.
  • Prioritise your risk management actions to maximise your business protection and seize new business opportunities quicker.

What are common business problems

  • Uncertainty is not managed cost effectively. Either too much or too little risk is taken in pursuit of business success.
  • Poor financial management can lead to wasted money reducing chance of success or increasing risk of failure.
  • Failure to monitor business progress or lack of progress. Know your key performance indicators and monitor them regularly to enable you to take early corrective action. Even the best business plans fail a little when put into practice.
  • Failure to comply with the rules of your business. Failure to comply can impact on you personally.
  • Failing to call upon the best people to help you achieve your business objectives could mean your amazing business ideas fail, not because you were mistaken, but due to failure to implement your business plans in best way.
  • Failing to gather risk information to help you make best business decisions at the right time.
  • Failing to use best tools plant and equipment may mean you just can’t compete with your competitors cost effectively to survive in business.

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Do you fear losing what you have created instead of valuing what you might gain from taking more risk?

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The biggest factor in business leader decision making is fear of loss. People worry about loss more than securing gains.

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Do you have loss aversion bias in decision making?

Business leaders who are loss averse feel the pain of loss much greater that any joy from any gains from decisions made. They make strategic business decisions accordingly. The risk culture of the business models the loss aversion bias of the business leader.

If this works well for your business you should continue with status quo. However if you would like to experience faster business growth you may need to take more calculated risks.

Loss aversion refers to the tendency to prefer avoiding losses to acquiring equivalent gains. It is better for you to not lose 10000 pounds than to make 10000 pounds in business. 

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However most entrepreneurs and many business leaders are in their position to better themselves. If you mitigate the potential losses from taking more risks and manage the risks to maximise the return on your investment you should end up with faster growth with less uncertainty.

It is more common in people who are not entrepreneurs or business leaders to be biased against taking risks. Loss aversion is a reflection of a general bias in human psychology. People tend to want to stick with what they know than make changes that might not work well. People in general are resistant to change. When presented with the potential benefits of change they focus more on what might be lost rather than on what can be gained.

  • What is your business risk tolerance? If you can make changes to try to grow faster that if do not work fall within your risk tolerance would you take more risk?
  • If you adopted small changes rather than one big radical all eggs in one basket change would you feel more comfortable? Spreading your faster business growth changes across a few new ideas may be better for your business. When you know which one of the new changes works best perhaps then you can focus on one new idea.
  • Do not confuse more risk taking in business with gambling. Taking calculated risks to grow faster is about assessing and then managing the risks before you action more risk taking. You can mitigate the threats from more risk as well as maximise the returns from taking more risks.

Few things in business life are guaranteed other than taxes! Even maintaining the status quo comes with the threat of business failure. Kodack photography business was once one of the most successful businesses in the world. How many Kodack films do you buy for your camera now!

The desire to avoid business losses is motivated by fear. The more a business leader fears losses the more likely he or she is to be loss averse and the more likely they are to be disinclined to make changes to their business to be more successful. Having a better understanding of the risks that could be taken to achieve more will make loss averse business leaders more comfortable with changing the the business.

Often the perception of risks and reward are skewed to the belief that you are doomed to fail which means you do not make changes to the business. By the same token it is important that all stakeholders in the business are involved in assessing risks from changes to business. Business leaders who do like taking risks can miss the pitfalls to mitigate against whilst making changes that can cause the change project fail even if it was a great idea.

With a little input and engagement from all levels of the organisation your project to grow faster is more likely to be a success. Take risks that are worth taking which are achievable with everyone onboard.

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  • Prioritise the things that are most important not what is urgent.
  • Eliminate more meetings reduce length of meetings and make sure each meeting is the most productive it can be.
  • Focus on most important task get it done then move onto next most important thing for you and your business. Stop multitasking.
  • Do most difficult tasks when you are at your best not at the end of the working day when your brain is fried.
  • Take a more holistic approach to business problem solving. Lumping business risks together to be solved by one risk management solution will be more cost effective and quicker.
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Best tips for achieving what you want in life and business

Develop your risk knowledge and business intelligence to inform your business decision making process. Network with positive business leaders who look for solutions not dwell on barriers to business development.

A holistic risk management approach will make more cost effective use of business resources easier. Integrate enterprise risk management ERM methodology into strategic operational and project decision making. Engage the whole workforce in making business changes.

Measure the results and outcomes from your new risk management strategy and review steps to make progress faster. Communicate more effectively with all levels of the organisation to ensure everybody is pulling in the same direction.

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Smart Business Decision Making

How to practice smart business decision-making

Smart business decision making involves a combination of careful analysis, strategic thinking, and effective execution. Here are some tips to help you practice smart business decision making:

  1. Gather and analyse data: Before making any business decision, it’s important to gather and analyse relevant data. This might include market research, customer feedback, financial data, and other relevant information. Use this data to identify trends, opportunities, and potential risks.
  2. Consider multiple options: When making a business decision, it’s important to consider multiple options. Don’t simply go with the first idea that comes to mind. Instead, brainstorm a variety of potential solutions and evaluate them based on their feasibility, potential benefits, and potential drawbacks.
  3. Evaluate the risks: Every business decision carries some level of risk. Before making a decision, it’s important to carefully evaluate the potential risks and consider how they can be mitigated or managed.
  4. Seek input from others: It can be helpful to seek input from others when making a business decision. This might include input from employees, stakeholders, or industry experts. Different perspectives can help you identify blind spots and make a more informed decision.
  5. Set goals and prioritise: When making a business decision, it’s important to consider your overall goals and priorities. Make sure your decision aligns with your long-term objectives and consider how it might impact other aspects of your business.
  6. Test and iterate: Once you’ve made a decision, test it out and evaluate the results. If it’s not working as expected, be prepared to iterate and make adjustments as needed.

Remember, smart business decision making involves a combination of analysis, creativity, and strategic thinking. By following these tips, you can make more informed decisions that are more likely to lead to success.

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Ability to anticipate and solve business problems quicker

Learn how to solve business problems effectively. The best business leaders can avoid business problems before they become a problem for their business. Engage all your employees to help you solve business problems. Change how you think about business problems.

Find out more about business problem solving techniques with BusinessRiskTV. Experience business problem solving tools.

  • Identify the risks impacting on your business
  • Understand how all your business stakeholders will be affected by the risks
  • Identify the solutions to manage your business risks better
  • Evaluate which business solutions are best for your business
  • Investigate the upside and downside risks of business problems for your business
  • Monitor and review your risk management plan and risk management strategy effectiveness

If the business problem is a big daunting issue for your business break it down into smaller component parts and assess the parts independently so the big problem becomes more manageable. Avoid business problems altogether if possible.

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Looking for information to inform your business decisions? Protect your business better. Grow faster. Work out practical business solutions on risk insight and business intelligence. Enhance your strategic operational and project decisions.

What is business intelligence and how could it benefit your business?

Optimise your business performance with existing business resources.

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Get an edge over competitors selling your business products or services. Pick the risk analysis tools you prefer to provide better business analysis and market intelligence.

The purpose of business intelligence is to support better business decision making to protect you better and grow your business faster

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Include business intelligence as part of your business risk management process so that your business decisions are better informed.

Understand how your business operates and how you can run it better. Develop risk management insight. Developing better business intelligence will help you more holistically bring all parts of your business together. Make better use of your existing business resources. Become more productive.

  • Improve your management of your business
  • Dynamically increase your business flexibility
  • Reduce unplanned interruptions to business output
  • Reduce the number of systems used in your workplace to improve productivity and efficiency
  • Build business resilience
  • Seize more opportunities to grow faster

Share your business intelligence to receive business intelligence. Reciprocal collaborative online forums to improve business performance.

  • Access crucial information more easily
  • Reduce procrastination and make quicker business decisions
  • Create a competitive advantage for your business
  • Answer your business questions to overcome barriers to business growth
  • Learn from others experience of business and reduce need to reinvent the wheel to solve your business problems

Access deep risk insight to develop your business risk management knowledge more easily. Build a more successful business quicker.

More developed business intelligence will give you a competitive edge in a highly competitive marketplace in your country or industry. Making quicker decisions may be essential to win new business or reduce business losses. Make your business decisions knowing those decisions are based on clearer risk insight and knowledge to have more confidence in the outcomes of your business decisions.

Working together and sharing risk information can save you money and time at the same time as providing practical insight into what may work well for your business.

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Top risks in world economy the threats and the opportunities

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What are the biggest risks to the global economy?

Although unpredictable lets try and predict the future! What is exciting is that clearly there are many threats particularly from the environment and trade wars. There are also massive opportunities for business leaders who are in control of their own business risks.

What are the biggest threats and opportunities to the world in the new decade?

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Some of the biggest global risks business leaders have little control over. Warfare and mass destruction global inequality between countries and unequal economic development creating mass economic migration global trade wars global pandemics political shift towards popularity driven left or right wing positions and systemic collapse of the financial markets. Contingency planning is the best that business leaders can do to manage most of such global catastrophic risks.

However there are risks business leaders do have the potential to have control over but do not always control such global occurring risks. Global risks falling into this category include deteriorating natural environment and global warming as well as cyber attacks.

Many of the risk management solutions for one global risk can manage the threat and opportunity from another risk without extra investment of time or money.

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BusinessRiskTV is scanning for threats and opportunities to the global economy in the new decade. If you look for it you can still see an abundance of wealth and opportunity globally and locally.

Global Recession?

Putting warfare and mass destruction risk to one side the most likely cause of a global recession is the continuing or deterioration of global trade wars.

The climate threat has come off age! The solutions are already known. However the will is less obvious. The financial services industry particularly banks will probably be the biggest influencers in driving environmental protection. Many banks and investors are refusing to finance coal businesses and are threatening divestment and lack of funding for other fossil fuel businesses. Even the governor of the Bank of England has told pension fund managers to sort out investment in fossil fuel based businesses.

The flip side of this is the opportunity to make money from environmental protection. Existing and developing environmental protection technologies are a real business opportunity. Even if your business does not sell environmental protection products or services your brand needs protecting via the adoption of good environmental protection policy.

The world is drowning in debt and fake money. Government corporate and personal debt. How future generations will cope with the weight of debt when many in the developed world are also going to suffer the effects of demographic time bomb detonation. Quite frightening! However one way to cope with future and present global risks is for governments to invest money in infrastructure particularly 5G communication and utilities. Many of the innovation and inventions are going to rely on power and the internet.Necessity is the mother of invention but with power and faster communication we will be trapped in the past with only a vision of how much better our future could be globally.

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Global Risks Management with BusinessRiskTV

The global landscape is changing rapidly, with new risks emerging every day. From geopolitical tensions to cybersecurity threats, businesses around the world are facing a complex and constantly evolving set of risks that they must manage in order to survive and thrive. In this article, we will explore some of the most pressing global risks that businesses need to be aware of and offer some strategies for managing them effectively.

Geopolitical Risks

Geopolitical risks are those that arise from political tensions between countries or regions. These risks can take many forms, including trade wars, sanctions, and military conflicts. One recent example of a geopolitical risk is the ongoing trade war between the United States and China, which has had significant implications for businesses around the world.

To manage geopolitical risks, businesses need to stay informed about political developments in the regions where they operate. They should also be proactive in diversifying their supply chains and hedging against currency fluctuations. In addition, businesses can consider partnering with local organisations or governments to gain a better understanding of the political environment and mitigate potential risks.

Cybersecurity Risks

Cybersecurity risks are those that arise from the increasing use of technology and the internet. As businesses become more reliant on digital systems and data, they also become more vulnerable to cyber attacks. These attacks can take many forms, including ransomware, phishing, and malware.

To manage cybersecurity risks, businesses need to invest in robust cybersecurity measures, such as firewalls, encryption, and regular system updates. They should also educate their employees about best practices for online security, such as avoiding suspicious emails and using strong passwords. In addition, businesses can consider purchasing cyber insurance to mitigate the financial impact of a cyber attack.

Climate Change Risks

Climate change risks are those that arise from the impact of climate change on the environment and society. These risks can take many forms, including extreme weather events, sea level rise, and food and water scarcity. The impact of climate change is already being felt around the world, and businesses need to be prepared for the potential consequences.

To manage climate change risks, businesses can take a number of steps. They can invest in renewable energy sources and other sustainable technologies to reduce their carbon footprint. They can also develop contingency plans for extreme weather events and other climate-related risks. In addition, businesses can consider partnering with governments and NGOs to address climate change at a systemic level.

Supply Chain Risks

Supply chain risks are those that arise from disruptions to the flow of goods and services. These disruptions can be caused by a variety of factors, including natural disasters, political unrest, and pandemics. The COVID-19 pandemic, for example, has had a significant impact on global supply chains, causing shortages of critical goods and disrupting manufacturing and distribution networks.

To manage supply chain risks, businesses need to develop contingency plans for disruptions, such as alternative suppliers and backup inventory. They should also be proactive in identifying potential risks in their supply chains and implementing measures to mitigate them. In addition, businesses can consider investing in technologies, such as blockchain and IoT, to improve supply chain visibility and resilience.

Financial Risks

Financial risks are those that arise from changes in the financial markets or economic conditions. These risks can take many forms, including fluctuations in exchange rates, interest rates, and commodity prices. They can also be caused by systemic risks, such as a global recession or financial crisis.

To manage financial risks, businesses need to be proactive in monitoring financial markets and economic conditions. They should also develop contingency plans for potential disruptions, such as currency hedging strategies and diversified investment portfolios. In addition, businesses can consider partnering with financial institutions and other experts to gain a deeper understanding of financial risks and opportunities.

Managing global risks is a complex and ongoing process for businesses around the world. By staying informed about emerging risks and implementing proactive measures to mitigate them, businesses can reduce their exposure to potential losses and position themselves for long-term success.

It’s important to recognise that global risks are interconnected, meaning that a disruption in one area can have ripple effects across multiple industries and regions. For this reason, businesses need to take a holistic approach to risk management, considering the potential impact of each risk on their operations and stakeholders.

In addition to the strategies outlined above, businesses can also consider partnering with risk management experts and other organisations to stay informed about emerging risks and best practices for risk management. By taking a collaborative approach to risk management, businesses can better anticipate and manage global risks, while also positioning themselves for long-term success in an ever-changing landscape.

Overall, businesses that are able to effectively manage global risks will be better positioned to thrive in a rapidly changing world. By staying informed, developing contingency plans, and investing in resilience, businesses can reduce their exposure to potential losses and position themselves for long-term success.

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Businesses operate in a constantly changing world, where the risks faced can be unpredictable, complex, and varied. The potential impact of risks can range from reputational damage to financial loss, and in some cases, threaten the very existence of the business. To ensure sustainable growth and profitability, businesses need to have robust risk management strategies in place that are aligned with their overall objectives and risk appetite. This is where global risk management solutions come into play, providing businesses with the tools, insights, and expertise to manage risks effectively and proactively.

BusinessRiskTV.com is an online platform that provides a range of risk management solutions and services to businesses worldwide. With a network of risk management experts and thought leaders, BusinessRiskTV.com offers a range of resources, including articles, videos, webinars, and tools, to help businesses understand, manage, and mitigate risks effectively. This article will explore some of the key global risk management solutions available on BusinessRiskTV.com and how they can help businesses navigate the complex and ever-changing risk landscape.

Enterprise Risk Management

Enterprise risk management (ERM) is a holistic approach to risk management that involves identifying, assessing, and managing risks across the entire organisation. ERM aims to create a risk-aware culture within the organisation, where risks are considered in all decision-making processes and integrated into the overall strategic planning process. BusinessRiskTV.com offers a range of resources on ERM, including articles, videos, and webinars, that can help businesses develop and implement an effective ERM strategy.

One of the key benefits of ERM is that it provides a comprehensive view of the risks faced by the organisation, allowing businesses to prioritise and allocate resources effectively. By identifying and assessing risks across all areas of the business, including operations, finance, and reputation, businesses can develop a more holistic understanding of their risk profile and take a more proactive approach to risk management.

Business Continuity Management

Business continuity management (BCM) is the process of identifying and managing risks that could disrupt normal business operations. BCM aims to ensure that businesses can continue to operate in the event of a disruption, whether caused by a natural disaster, cyber-attack, or other unexpected event. BusinessRiskTV.com offers a range of resources on BCM, including articles, videos, and webinars, that can help businesses develop and implement an effective BCM strategy.

One of the key benefits of BCM is that it can help businesses minimise the impact of a disruption on their operations and reputation. By developing a comprehensive business continuity plan, businesses can identify the critical functions and processes that must be maintained in the event of a disruption, as well as the steps needed to recover and resume normal operations. This can help businesses minimise the financial and reputational impact of a disruption, and ensure that they can continue to meet the needs of their customers and stakeholders.

Cyber Risk Management

Cyber risk management is the process of identifying, assessing, and managing risks related to information security and technology. With the increasing reliance on technology in business operations, cyber risks have become a major concern for businesses worldwide. Cyber risks can include data breaches, ransomware attacks, and other forms of cybercrime that can result in financial loss, reputational damage, and legal liabilities. BusinessRiskTV.com offers a range of resources on cyber risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective cyber risk management strategy.

One of the key benefits of cyber risk management is that it can help businesses protect their sensitive information and systems from cyber threats. By identifying and assessing cyber risks, businesses can implement appropriate security measures, such as firewalls, antivirus software, and employee training programs, to mitigate the risks. This can help businesses reduce the likelihood and impact of a cyber-attack, and ensure that their operations and reputation are protected.

Compliance and Regulatory Risk Management

Compliance and regulatory risk management involves identifying and managing risks related to compliance with laws, regulations, and industry standards. Compliance risks can arise from a variety of sources, including changes in legislation, non-compliance with industry standards, and breaches of contractual obligations. BusinessRiskTV.com offers a range of resources on compliance and regulatory risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective compliance and regulatory risk management strategy.

One of the key benefits of compliance and regulatory risk management is that it can help businesses avoid legal liabilities and reputational damage. By ensuring that they comply with relevant laws, regulations, and industry standards, businesses can demonstrate their commitment to ethical and responsible business practices. This can help businesses build trust with their customers and stakeholders, and enhance their reputation in the market.

Supply Chain Risk Management

Supply chain risk management involves identifying and managing risks related to the supply chain, including risks related to suppliers, logistics, and transportation. Supply chain risks can include disruptions caused by natural disasters, political instability, and changes in regulations. BusinessRiskTV.com offers a range of resources on supply chain risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective supply chain risk management strategy.

One of the key benefits of supply chain risk management is that it can help businesses minimise the impact of supply chain disruptions on their operations and reputation. By identifying and assessing supply chain risks, businesses can implement appropriate risk mitigation strategies, such as diversifying their supplier base, implementing contingency plans, and enhancing supply chain visibility. This can help businesses reduce the likelihood and impact of supply chain disruptions, and ensure that they can continue to meet the needs of their customers and stakeholders.

In today’s complex and dynamic business environment, managing risks effectively is essential for sustainable growth and profitability. BusinessRiskTV.com offers a range of global risk management solutions that can help businesses identify, assess, and manage risks across all areas of their operations. From enterprise risk management to supply chain risk management, BusinessRiskTV.com provides businesses with the tools, insights, and expertise they need to navigate the complex and ever-changing risk landscape.

By leveraging the resources available on BusinessRiskTV.com, businesses can develop and implement effective risk management strategies that are aligned with their overall objectives and risk appetite. This can help businesses protect their operations and reputation, avoid legal liabilities, and enhance their competitiveness in the market. In short, global risk management solutions available on BusinessRiskTV.com can help businesses navigate the complex and ever-changing risk landscape and achieve sustainable growth and profitability.

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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.

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Do you have an effective risk management framework

Risk management tools and techniques too support enterprise risk management framework

Upgrade your framework for implementing risk management. Pick up more information on designing the risk management framework that supports your risk management process. Define your risk management framework for supporting enterprise risk management principles and practices. If you have the mandate and commitment for enterprise risk management from the top of your organisation you can begin building the risk management framework to make the risk assessment process work well.

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Get help restructuring your risk management framework

You need to clearly define where you are now and where you want to be including the benefits you want from embarking on embedding enterprise risk management.

What is the context or reasons for wanting to change the way you manage risks? 

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Develop you own risk management policy and communicate it to all stakeholders in the business. Work on what you need to do to embed enterprise risk management within your normal business decision making process.

  • Implement your new enterprise risk management framework
  • Implement your chosen risk management process
  • Monitor review and update your risk management systems

Constantly work at improving your risk management framework.

Your risk management framework should clearly define how you are going to communicate your enterprise risk management policy and procedures. Key people in the enterprise risk management framework should have clearly defined roles and responsibilities to support the risk management process.

Your risk management strategy should set out the objectives that risk management activities in the organisation are seeking to achieve.

Create a risk management framework to support better enterprise wide decision making

Enterprise Risk Management ERM Framework and Risk Assessment Process
Create a risk management framework to support better enterprise wide decision making

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Local Sourcing From Local Suppliers Near Me

Shorten your supply chain with BusinessRiskTV

How can business leaders reduce their supply chain risks and increase business resilience

Changing how you source products may need to change after the coronavirus pandemic.

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What Is Our Local Sourcing Service All About

Its about connecting business leaders to local suppliers more easily

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Local Suppliers Near Me Service

Local Suppliers Near Me

The benefits of local sourcing of business products and services are many and varied from environmental benefits to real cost savings to security of supply lines to flexibility of delivery.

In the UK it is more expensive to import goods and services from overseas due to around a 10 to 20 percent fall in the value of the pound against a basket of foreign currencies in the last 12 months. Where there may have been a substantial price difference between imports and domestic suppliers, this has mostly gone as can be witnessed by the fact that the UK is exporting more now that at any time since 1995.

BusinessRiskTV is championing local UK suppliers

We’re helping to connect UK companies with nearby local suppliers when business leaders source new products and services.

Stand out more from the crowd! Support UK businesses. Help promote local business growth by supporting your local business. Get real added benefit from new local suppliers and support them to help your own business needs.  Help new local suppliers to grow with you for a long-term business relationship.   Develop a more sustainable business model.

Sourcing products from around the world can lead to more cost and more business interruptions and less flexibility in meeting your customer needs.

Develop shorter local supply chains to build your business with more certainty. In a new Brexit world developing more local suppliers will guard against the negative impact of currency fluctuations.

Undertake thorough due diligence to ensure your new local suppliers are not going to increase the risks to your customers. Trust BusinessRiskTV to help you buy local next time.

Learn how to become one of our Local Suppliers by subscribing FREE to BusinessRiskTV

Learn how to become one of our Local Suppliers by subscribing FREE to BusinessRiskTV
Learn how to become one of our Local Suppliers by subscribing FREE to BusinessRiskTV

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Re establish your foothold on your business marketplace. Learn how you can make your business more profitable.

Pick up new business development techniques to increase your profit and drive your business forward. Find new business ideas you can deploy to increase sales. Move your business success forward a notch or two.

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