Our business intelligence tools and techniques protects your business better. Grow more sustainably with less uncertainty. Look to the horizon to see the threats and opportunities. Put in place the best risk management action plan.
Analyse emerging risks and developing existing risks
Assuming you are managing enterprise risks well can be dangerous
You might be taking too much risk unknowingly, but you might also be taking too little risk and failing to make the best use of your business assets.
How confident are you that you are managing enterprise risks cost-effectively?
What are the “hidden” costs of your failure to manage risk properly:
Missed opportunities cost
Over protection of business wasting resources and increasing your costs
Under protection leaving you exposed, threatening your survival or prosperity and stopping you getting a quiet night’s sleep
Can you demonstrate to your business stakeholders that significant enterprise-wide risks are being effectively managed? Have you a balanced risk -reward risk management plan that prioritises the allocation of resources for best potential effect on business objectives? When was the last time you reviewed your enterprise risk management plan?
Controlling the risks in the workplace is not just about safety and business insurance. Your business must control enterprise-wide risks. What is the aggregate effect of risk on your business objectives? Do you understand the threats to objectives and the opportunities you have in front of you?
Find out how enterprise risk management can help you monitor your overall business’s performance
Identify and manage both external risk drivers and internal risk drivers impacting on your business success.
Do you have confidence your business is ready for emerging risks?
We are only at the beginning of the 4th Industrial Revolution. Many jobs are going to disappear. Many jobs are going to change. Businesses that don’t change to reflect emerging risks will not survive the rapid changes that have started but will accelerate over next few years.
Maximising business opportunities for growth
There is a yin and yang to all threats and opportunities.
Every threat comes with an opportunity to change for the better.
Every opportunity comes with a threat that the new will destroy existing value.
Business decision makers have tougher choices now than many recent business leaders have faced and many choices may threaten survival if you choose badly. Making good choices could also drive your business forward much faster than recently possible due to the financial crisis of 2008 and recovery therefrom.
Have you identified and assessed your enterprise-wide risks?
What have you done about the more significant risks to your business objectives? Managing risk is increasingly central to the art of business management. It is not a science. What is right for one business may not work for another in the same industry. Much will depend on the leaders of each business within the same industry.
Give your managers more confidence in your company to prperly assessing all the signiciant business risks to your organisation.
There is a risk to every business decision you make. Systematically look at all the risks across your business to enable you to focus your limited resources on the options most likely to boost your business performance, productivity and profitability.
Armed with the right risk management tools and techniques, risk knowledge and business intelligence you can manage risk more cost effectively more successsfully.
The risk management team or department should facilitate improved enterprise decision-making to boost business performance.
Risk management principles practice and process should increase the efficiency and effectiveness of the business. The business leaders will be able to take more risk consciously as opposed to unconscious acceptance of higher risk levels.
What is the right level of risk will depend on the risk appetite and risk tolerance of the business leaders. There maybe nothing wrong with a high corporate risk exposure to achieve business goals and objectives as long as you know how exposed the business is and put in suitable risk control measures.
iso 31000 Risk Management Principles and Guidelines
Adopting the principles practices and processes of iso 31000 will increase the likelihood of a business strategy being a success. It will also reduce the level of uncertainty that can accompany more challenging business objectives.
Enterprise risk management is not a once in a business lifecycle activity. It is a continuous activity that supports business development and implementation of a more risk aware business strategy.
Enterprise Risk Management Framework
Use an enterprise risk management ERM framework to help you develop an effective business management strategy that protects your business assets and helps you grow faster.
A robust enterprise risk management framework will help embed a more risk aware culture up and down the organisation.
An effective risk management system will require a clear role for the risk management function in the business. The risk management function in the business can only develop added value for the organisation if it is fully supported in the boardroom. With the board behind the risk management function, all levels of the organisation will develop enhanced risk management capability enhanced by the risk manager or risk management team.
The risk management function will support corporate governance and risk oversight but cannot control corporate risks on its own.
Risk Management Function Supports Risk Identification Risk Assessment and Risk Control
However, the risk management function does not control corporate risks on its own.
The risk management function is integral to the risk management process, but it isn’t the sole component of the risk management process.
The risk management function educates informs and trains all levels of the organisation to assess prioritise and control corporate risks. It enables business leaders to manage enterprise risk better.
The risk management function helps to develop and embed risk control techniques to reduce the likelihood of losses and the size of losses. It should also identify, assess and help seize business development opportunities.
Do you want help developing your enterprise risk management function?
BUSINESSRISKTV.COM DEVELOPING RISK MANAGEMENT FUNCTION
Conformity Of Global Financial Leaders Led To 2008 Financial Crisis
Global financial leaders made faulty decisions because as a group they lost touch with reality and had an inherent poor moral compass. That has not changed.
Global Leaders Poor Moral Compass Will Lead To Next Financial Crisis
The financial services industry is like a cartel. It deliberately publishes false economic risk analysis and critically evaluates global risks to benefit the financial services preferred strategic direction. Such groupthink is creating business decision making that will lead to financial failure yet again.
The City is thinking as one to protect The City, not to develop a sustainable UK economy. It is fighting to protect itself in the short to medium term. If it succeeds it will miss the opportunities for more rapid business growth and the UK will miss out too.
The financial services industry is a highly cohesive and organised sector of the economy which is massively supported by the media and politicians.
Enlightened Holistic Risk Management Framework and Risk Assessment Process
The saviour of capitalism is the full adoption of enterprise risk management ERM principles and practices.
Tips to protect your business better and grow it faster
The BusinessRiskTV.com Enterprise Risk Management magazine aims to publish original work that explores conceptual and empirical papers, articles and case studies from all branches of enterprise risk management. Exchange ideas and collaborate with risk practitioners and your peers to protect your business better and grow it faster.
Papers are invited from researchers/practitioners/ policy makers/other stakeholders in the field of enterprise risk management (ERM). We welcome your contributions, in the form of articles, Press Releases, case studies, video, …