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What is risk management in a business context?

Enterprise risk management is the management of the effect uncertainty on business or enterprise objectives. An organisation should create the risk management framework upon which to apply and embed the principles of risk management and the risk assessment process.

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The risk assessment process must factor in the risk perception and risk culture of the organisation. The risk perception of the assessor so can greatly skew the risk assessment process in a direction that results in either too much or too little risks being taking.

Too much financial cost will be incurred controlling risk disproportionately or the opportunity cost of taking too little risk may mean the business fails to grow as fast as it could with existing resources.

The outcomes of business activities and decision-making are uncertain. There is therefore a risk that the decisions taken are good ones or bad ones.

Enterprise risk management ERM is about trying to increase the number of good decisions and reduce the number of bad decisions to make achieving business objectives easier cheaper and more profitably or more efficiently, in the case of not-for-profit organisations.

ISO 31000 Risk Management

ISO 31000 Risk Management

Identify assess and prioritise action and resources to manage enterprise risks better

Reduce the effect of uncertainty on the objectives you have set for your business or enterprise. Use ERM to pull together your available resources to create a coordinated and cost effective risk management plan.  Use your existing resources to more confidently improve your business performance.

Minimise the threats to your business objectives. Maximise the opportunities open to your business.

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Taking risks is part of corporate success. You need to take risks to grow and develop. In an ever changing business environment you have to effectively manage risks to achieve more with certainty.

Minimising enterprise threats and maximising business growth

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Understand enterprise risks impacting on your organisation. Analyse and manage risks to make sure you achieve your organisations objectives.

Enterprise Risk Management ERM is an integrated holistic and joined up approach to managing risk across an organisation and its extended networks

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BusinessRiskTVs objective is to build business intelligence in enterprise risk management in all industries and across the globe. Read enterprise risk management articles and watch videostreaming online.

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Research the best business management solutions for your business. Develop an effective enterprise risk management ERM plan and strategy for greater business success. Integrate enterprise risk management principles and practices to grow your business faster with less uncertainty.

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Risk Management Online has over 27000 members from around the world who are interested in business enterprise risk management solutions

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Ask business management experts to help remove your uncertainty and improve your business performance. We support the aim of Risk Management Online to promote the use of enterprise risk management ERM to better protect and grow businesses wherever they want to operate in the world

We collaborate with Risk Management Online members on specific projects for mutual benefit of the participating project leaders. Finding a better way to do business is the overriding aim.

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Do you think your business could do better than it presently does or is likely to do in the near future?

Most businesses could do better. Small and medium sized businesses SMEs need to be more innovative than large corporate entities if they are to grow to compete with the big boys one day!

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Get in touch. At the very least, we can point you in the direction of the free Risk Management Online group with more than 27000 members. There you can ask for help and solve some business problems for free. Alternatively you could join BusinessRiskTV and its business partners who seek to creatively collaborate on new business solutions on specific projects.

You could even create you own business project

Call in business risk experts to help you overcome barriers restricting your business.

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Do you want to manage enterprise risks better?Develop your enterprise risk management knowledge. Practical enterprise risk management training courses online and in classroom.

 

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Learn how the ERM discipline can benefit your business performance. Internal and external risks can have a downside impact on your organisation’s ability to achieve its objectives. The flipside is that they can have an upside potential on your business success.

Managing Business Risks Better with C&C Associates
Managing Business Risks Better with C&C Associates

Enterprise risk management ERM is a holistic integrated approach to business decision-making. A risk based approach moves away from the simple bean-counting approach of financial risk to explore the true impact on your business of enterprise risks.

We have a range of enterprise risk management services including training, mentoring and business promotion to ensure that the upside potential of risk is not lost in your business strategy.

  1. Contact us to schedule a free online meeting to discuss your business needs;
  2. We will present a report recommending action to reduce uncertainty in your business planning;
  3. Implementation of the recommendations will involve working in partnership with you to achieve your objectives.
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