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Every business is exposed to risks that could impact its operations and bottom line. These risks can come from various sources, including market volatility, natural disasters, cyber threats, regulatory changes, and internal operational issues. To mitigate these risks, businesses need to adopt a comprehensive approach to risk management. Enterprise Risk Management (ERM) is a process that helps businesses identify, assess, and manage risks across all their operations and functions. This guide by BusinessRiskTV aims to provide businesses with an overview of ERM and its benefits.
What is Enterprise Risk Management (ERM)?
ERM is a structured approach to identifying, assessing, and managing risks that could impact an organisation’s ability to achieve its objectives. The process involves a systematic analysis of all the risks faced by an organisation, their potential impact, and the likelihood of their occurrence. ERM is not a one-time event but a continuous process that requires ongoing monitoring and assessment.
ERM provides a framework for businesses to manage risks at an enterprise-wide level. It allows organisations to identify risks that may be overlooked by departmental risk management processes and provides a holistic view of risk across the organisation. ERM also helps businesses prioritise risks based on their potential impact and likelihood of occurrence, allowing them to allocate resources more effectively.
Benefits of ERM
ERM offers several benefits to businesses, including:
Improved Risk Management
ERM provides businesses with a structured approach to risk management. It allows organisations to identify risks across all their operations and functions, providing a more comprehensive view of risk. ERM also helps businesses prioritise risks based on their potential impact, allowing them to allocate resources more effectively.
Increased Efficiency
ERM helps businesses identify areas where they can improve their operations and reduce risks. This can lead to increased efficiency and cost savings.
Enhanced Decision-Making
ERM provides businesses with a more comprehensive view of risk, allowing them to make informed decisions. This can help businesses identify potential risks and opportunities, enabling them to make better decisions about resource allocation and investments.
Competitive Advantage
ERM can provide businesses with a competitive advantage. By managing risks more effectively, businesses can improve their reputation and build trust with stakeholders. This can help businesses attract customers, investors, and partners.
Regulatory Compliance
ERM can help businesses comply with regulatory requirements. By identifying and managing risks, businesses can ensure they are meeting their legal and regulatory obligations.
ERM Framework
ERM typically involves a five-step process that helps businesses identify, assess, and manage risks. The process includes:
Risk Identification
The first step in ERM is to identify all the risks faced by an organisation. This involves analysing all the activities and functions within the organisation and identifying potential risks. Risks can come from various sources, including:
Strategic risks – risks associated with achieving the organisation’s objectives.
Financial risks – risks associated with financial operations and investments.
Operational risks – risks associated with day-to-day operations.
Compliance risks – risks associated with legal and regulatory compliance.
Reputational risks – risks associated with the organisation’s reputation.
Risk Assessment
Once risks have been identified, the next step is to assess them. This involves evaluating the potential impact and likelihood of each risk. The assessment should take into account both the qualitative and quantitative aspects of risk.
Qualitative assessment involves evaluating the likelihood of a risk occurring and the potential impact of the risk. This assessment is typically based on expert opinion and judgment.
Quantitative assessment involves using statistical methods to estimate the probability of a risk occurring and the potential financial impact of the risk. This assessment is typically based on historical data and modeling.
Risk Management
After risks have been identified and assessed, the next step is to manage them. This involves developing strategies and actions to mitigate or eliminate risks. There are several risk management strategies businesses can use, including:
Risk Avoidance – This involves eliminating the activity or process that is associated with the risk.
Risk Transfer – This involves transferring the risk to another party, such as an insurance company.
Risk Reduction – This involves implementing measures to reduce the likelihood or impact of the risk.
Risk Acceptance – This involves accepting the risk and developing a plan to manage the potential impact.
Risk Monitoring
Once risk management strategies have been implemented, the next step is to monitor the effectiveness of these strategies. This involves ongoing monitoring of the risks and the impact of the strategies implemented to manage them. It is important to regularly review and update risk management strategies to ensure they are effective.
Reporting and Communication
Effective communication and reporting are essential components of ERM. Businesses should regularly communicate the results of risk assessments and the effectiveness of risk management strategies to stakeholders, including investors, customers, and employees.
Implementing ERM
Implementing ERM can be a challenging process, but it is essential for businesses that want to manage risks effectively. The following steps can help businesses implement ERM successfully:
Commitment from Senior Management
Senior management must be committed to implementing ERM. They must provide the resources and support necessary for the process to be successful.
Risk Culture
A risk-aware culture is essential for successful ERM. Employees at all levels of the organisation must understand the importance of risk management and be willing to report risks and issues.
Risk Assessment
A comprehensive risk assessment is essential for effective ERM. Businesses must identify all the risks they face and assess them using both qualitative and quantitative methods.
Risk Management Strategies
Businesses must develop effective risk management strategies to manage the risks identified. These strategies should be tailored to the specific risks faced by the organisation.
Monitoring and Reporting
Monitoring and reporting are essential components of ERM. Businesses must regularly monitor the effectiveness of their risk management strategies and communicate the results to stakeholders.
In today’s complex business environment, managing risks is essential for the success of any organization. ERM provides businesses with a structured approach to identifying, assessing, and managing risks at an enterprise-wide level. The benefits of ERM include improved risk management, increased efficiency, enhanced decision-making, competitive advantage, and regulatory compliance. Implementing ERM can be a challenging process, but businesses that successfully implement ERM can manage risks more effectively and achieve their objectives.
Identifying and managing risk is not a one-off exercise. Monitoring and reviewing your own risk management successes and failures as well as the success and failure in the marketplace will prepare and protect your business better to grow faster with less uncertainty.
How do you identify and manage risks?
Learn how to anticipate and respond to risk quicker and more cost-effectively. Risk identification is crucial to the success of your business. Wasting money and time on the wrong risks exposes your business to poor productivity at best and failure at worst. Learning how to manage risk in business can give you an advantage over your competitors. Most businesses are in competition for limited business or consumer spending. Business Risk Analysis is necessary to ensure you are not missing out on new business development opportunities as well as protecting your existing business assets.
What is the process of identifying a risk for your business?
How to manage risk is easier with our risk management process. Completing an holistic risk assessment of your whole business enables you to prioritise your limited resources to maximise the return of your investment of time and money.
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Bad decision-making at the wrong time threatens survival and prosperity of your business. Good decision-making heightens business success and elongates the sustainability of a business.
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Poor decision-making can make a business less resilient and perform even poorer. Good decision-making opens a business to improved performance possibilities and a longer lifespan.
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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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Taking calculated risks is the business of the entrepreneur or business leaders. Taking the right risks will make your business more successful. Taking mo risk is condemning your business to a slow death, at best.
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Take the Risk or Lose the Chance to Be Better in Business
In business, as in life, there are always risks involved. But sometimes, the only way to achieve success is to take a chance.
A ship in the harbour is safe but that’s not what ships are for.
There are many reasons why it’s important to take risks in business. Here are a few:
Risks can lead to innovation. When businesses take risks, they often come up with new and innovative products or services. This can help them to differentiate themselves from their competitors and gain a competitive advantage.
Risks can lead to growth. When businesses expand into new markets or launch new products, they often experience growth. This can lead to increased revenue, profits, and market share.
Risks can lead to learning. When businesses take risks, they often learn from their mistakes. This can help them to improve their products, services, and processes.
Of course, there is also the risk of failure when taking risks in business. But the potential rewards often outweigh the potential risks.
So, if you’re thinking about starting a business or expanding your existing business, don’t be afraid to take some risks. Just make sure you do your research and plan carefully. And be prepared to learn from your mistakes.
Is it better to take the risk or lose the chance?
The answer to this question depends on your individual circumstances and goals. If you’re willing to take a risk and have a good chance of success, then it may be worth it. However, if you’re not willing to take a risk or the chances of success are slim, then it may be better to play it safe.
Why is it important to take risk in business?
There are several reasons why it’s important to take risks in business. Here are a few:
Risk can lead to innovation. Businesses that are willing to take risks are more likely to innovate and come up with new products and services. This can help them to stay ahead of the competition and grow their business.
Risk can lead to growth. Businesses that are willing to take risks are more likely to grow their business. This can be done by expanding into new markets, launching new products, or acquiring other businesses.
Risk can lead to learning. Businesses that are willing to take risks are more likely to learn from their mistakes. This can help them to improve their products, services, and processes.
Is it worth it to take risk business?
Whether or not it’s worth it to take risks in business depends on a number of factors, including the size of the risk, the potential reward, and the likelihood of success.
In general, it’s only worth taking risks that have a good chance of success and that are worth the potential reward. For example, it may not be worth taking a risk on a new product that has a small market potential. However, it may be worth taking a risk on a new product that has a large market potential and that can be produced at a low cost.
What does take risks mean in business?
Taking risks in business means being willing to try new things, even if there is a chance of failure. It means being willing to step outside of your comfort zone and explore new opportunities. It also means being willing to learn from your mistakes and keep moving forward.
Taking risks is not always easy, but it can be very rewarding. When you take risks, you have the potential to achieve great things. You can grow your business, innovate new products, and reach new markets. So, if you’re looking to achieve success in business, don’t be afraid to take some risks.
Here are some tips for taking risks in business:
Do your research. Before you take any risks, make sure you do your research and understand the potential risks and rewards.
Plan carefully. Once you’ve done your research, create a plan for how you’re going to mitigate the risks and maximize the rewards.
Be prepared to fail. Even if you do everything right, there’s always a chance that you’ll fail. Be prepared to learn from your mistakes and move on.
Don’t give up. If you fail, don’t give up. Learn from your mistakes and keep trying.
Taking risks can be scary, but it’s also an essential part of business success. If you’re willing to take some risks, you’ll be well on your way to achieving your goals.
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If your business risk management strategy is to not take risks it is likely that your business will die quickly or slowly, but fail it will
The consequences of not taking risks in business is that your risk control costs will make your business uncompetitive in your marketplace, or you will miss business opportunities to grow faster. The risk of doing nothing is an inevitable death of your business. Intelligently taking more risk can mitigate the risks not working out and boost the return on your investment of time and money in your business. Take a business risk with more confidence with BusinessRiskTV.
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The biggest risk is taking no risk at all
Business leaders have to take risks to survive and prosper in their chosen marketplace. This does not mean business leaders should be reckless. It just means they need to be mindful of the key business risks that do impact on the objectives of the business.
Failing to plan does mean you are planning to fail. However even the best laid business plan can fail when exposed to the vagaries of the business marketplace. Your business risk management plan needs to be flexible and it needs regular reviewing to ensure it is working efficiently.
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The best risks to take are the ones you can direct into your favour. Luck will always play its part in risk taking, but you can take risk with confidence if you have the right risk management process embedded in your business decision-making.
Why taking no risk is the biggest risk
The world of business is changing at an ever faster rate. Children born today will do jobs that have not even been invented yet.
It is often said that me learn more from our mistakes than from our successes. Not taking risks may mean you make fewer mistakes, but you may also miss the opportunities to grow faster from ways you could not have envisaged prior to taking a risk. Taking a known risk, even if you don’t know all the possible outcomes, can teach you something that can drive your business forward faster. Without business risk there is no innovation in business. Being good at taking risks means you can optimise your business performance.
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Are you missing out on business opportunities to grow your business?
Reacting rather than proactively engaging all your business resources and effort on what really matters. Do you really know where your business is going or could go? Or has your business exposed itself to too much or too little business risk?
Most businesses are owned or led by clever hard working and ambitious leaders who just need business management strategy and risk management tools to enable them to make risk balanced business decisions confidently.
Over many years of enterprise risk management experience together with risk consulting and training business owners and executives we will implement a unique proven business growth system which enables dynamic creative and ambitious business leaders to look at the bigger picture to make holistic enterprise wide decisions to create business value that engages all business assets more cost effectively and productively.
By working closely together to understand you your ambitions your risk management attitude and your business risks we can help you embed the best business management strategy to achieve more with existing assets.
What should you expect from us:
Increased profits and income
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More balanced risk taking with quiet nights sleep
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Flexibility and agility to cope with changing business environment and challenges
Reduced stress and more drive to achieve more with what you have
Clarity of vision and clear business risk map to achieve life and business goals
Increased business opportunities and ability to seize them more fully
We work together to make your business perform better.
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If you are a clever hard working and ambitious leader with an established business with a team of at least 5 people and would like to transform your business to create more value from your business assets then contact us and we can arrange a time to speak and explore possibilities.
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ERM online courses. ERM online solution and inclassroom ERM workshop training classes. Develop your enterprise risk management knowledge and skills. Boost your business performance. Build your business resilience. Our enterprise risk management ERM training courses are practical hands on training designed for managers professionals consultants internal and external auditors. Manage enterprise wide risk management better to help boost enterprise performance.
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Business uncertainty now is not worse. However business uncertainties do change. Managing internal and external risk factors is complex but does not need to be complicated. ERM should be used to set your business strategy not just manage the uncertainties that come out of your business strategy.
Adopting an holistic enterprise wide approach to business risk management enables an enterprise to focus all resources more cost effectively on the key risks that matter to maximise business development opportunities.
Use our ERM training to understand the principles practices and enterprise wide risk assessment process to inform strategic operational and project risk management. Enhance your risk knowledge and business intelligence to integrate threat mitigation and seize new business development opportunities.
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Enterprise-wide risk management encompasses an effective enterprise-wide risk assessment process. Realise the importance of enterprise wide risk management for your business performance. Use enterprise wide risk assessment principles practices and processes to set strategic operational and project objectives and embed to ensure objectives are delivered. Tap into enterprise wide risk management consulting services.
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Build a stronger enterprise wide risk management framework for your business to assess top risks that need to be managed if you are to achieve enhanced business success with more confidence.
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Proven Steps to Mitigating Business Risks: A UK Business Leader’s Guide to Conducting an Enterprise-Wide Risk Assessment
An enterprise-wide risk assessment is a comprehensive evaluation of all types of risks that a business may face. This includes risks related to operations, financials, legal, regulatory, and reputational issues. By conducting a thorough risk assessment, businesses can identify potential threats and vulnerabilities and take proactive measures to mitigate or prevent them.
The first step in conducting an enterprise-wide risk assessment is to identify all areas of the business that are at risk. This includes both internal and external risks, such as supply chain disruptions, data breaches, and economic downturns. Once all areas of risk have been identified, the next step is to assess the likelihood and potential impact of each risk. This will help businesses prioritise which risks need to be addressed first.
Once the risks have been identified and prioritised, businesses can develop a risk management plan. This plan should include specific actions to mitigate or prevent each risk, as well as procedures to respond to and recover from a risk event. The plan should also include monitoring and reporting mechanisms to ensure that the plan is being implemented effectively.
In addition to the risk management plan, businesses should also consider implementing a risk management programme. This programme should include regular training for employees on risk management and incident response, as well as regular reviews of the risk management plan to ensure that it remains relevant and effective.
In conclusion, an enterprise-wide risk assessment is a critical tool for businesses to identify and manage potential threats and vulnerabilities. By conducting a thorough risk assessment, prioritising risks, and implementing a risk management plan, businesses can take proactive measures to mitigate or prevent risks and ensure their long-term success.
Step
Description
Action
1
Identify Risks
Identify all areas of the business that are at risk, including internal and external risks.
2
Assess Likelihood and Impact
Assess the likelihood and potential impact of each identified risk.
3
Prioritise Risks
Prioritise identified risks based on likelihood and impact.
4
Develop Risk Management Plan
Develop a risk management plan that includes specific actions to mitigate or prevent each risk, as well as procedures to respond to and recover from a risk event.
5
Implement and Monitor Risk Management Programme
Implement a risk management programme that includes regular training for employees on risk management and incident response, and regular reviews of the risk management plan to ensure that it remains relevant and effective.
5-step enterprise-wide risk assessment template
Note: The above table is just an example of a risk assessment template, it may not be sufficient to cover all risks and it’s important to consult professional and include all stakeholders involved.
Proven Steps to Mitigating Business Risks: A UK Business Leader’s Guide to Conducting an Enterprise-Wide Risk Assessment
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Objectives of Enterprise Risk Management ERM
Enterprise risk management theory and practice can help to boost your business. Are you interested in enterprise risk management theory and practice? Keep up to date with latest enterprise risk management theory and practice news opinions and reviews. Network with enterprise risk management experts and top business leaders locally and globally.
Enterprise risk management theory and practice is an holistic approach to business decision making. It is designed to make the best use of business resources.
Achieve enterprise objectives more easily and cost effectively by reducing the impact of uncertainty.
Improve business decision making when looking at business strategy operational management and project management.
Engage the whole workforce in the task of making the enterprise a success.
Learn strategies to develop collaboration with enterprise risk management development within your business. Create an efficient risk management framework and risk assessment process you can communicate clearly to all employees to embed ERM more effectively.
Enterprise risk management creates value for all stakeholders in the enterprise including customers employees management team and owners.
Assess enterprise threats opportunities and their impact on enterprise objectives to use existing resources more cost effectively to achieve success more quickly and easily with less uncertainty.
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In today’s dynamic and interconnected business landscape, managing risks has become an essential aspect of successful enterprise management. Organisations face a wide range of risks, including financial, operational, strategic, and reputational risks, which can significantly impact their ability to achieve objectives and thrive in a competitive environment. Enterprise Risk Management (ERM) provides a comprehensive framework and process for identifying, assessing, and mitigating these risks to ensure sustainable growth and resilience. This article serves as a guide to understanding and implementing ERM within organisations.
Understanding Enterprise Risk Management:
Enterprise Risk Management is a strategic approach that enables organisations to proactively identify, assess, and manage risks across all levels and functions. It involves the systematic integration of risk management practices into an organisation’s decision-making processes, governance structure, and operations. ERM goes beyond traditional risk management, which often focuses on isolated risks, by considering the interdependencies and cumulative effects of risks on an enterprise-wide basis.
Key Components of Enterprise Risk Management:
a. Risk Identification: The first step in ERM is identifying and cataloging all potential risks that may affect the organisation. This involves gathering information from various sources, including internal stakeholders, external experts, industry reports, and historical data. The goal is to create a comprehensive risk register that captures both known and emerging risks.
b. Risk Assessment: Once risks are identified, they need to be assessed in terms of their likelihood of occurrence and potential impact. This step involves qualitative and quantitative analysis to prioritise risks based on their significance. Risk assessment techniques may include scenario analysis, sensitivity analysis, and probabilistic modeling.
c. Risk Mitigation: After assessing risks, organisations develop risk mitigation strategies to reduce the likelihood or impact of identified risks. These strategies may involve implementing controls, transferring risks through insurance or contracts, accepting risks within predetermined tolerance levels, or avoiding risks altogether by changing business practices or diversifying operations.
d. Risk Monitoring and Reporting: ERM is an ongoing process that requires continuous monitoring of risks to ensure their effectiveness. Organisations should establish clear risk indicators and thresholds to detect changes in risk levels and trigger appropriate actions. Regular reporting on risk exposures, mitigation efforts, and performance against risk objectives is essential to keep stakeholders informed and accountable.
e. Risk Culture and Communication: ERM is most effective when risk management becomes an integral part of an organisation’s culture. This involves fostering a risk-aware mindset among employees, encouraging open communication about risks, and embedding risk management practices in daily operations. Effective communication channels should be established to facilitate the flow of risk-related information across all levels of the organisation.
Benefits of Enterprise Risk Management:
Implementing ERM brings several benefits to organisations:
a. Improved Decision Making: ERM provides decision-makers with a holistic view of risks, enabling them to make informed choices that align with the organisation’s risk appetite and strategic objectives. By considering risk factors, organisations can avoid costly mistakes and capitalise on opportunities.
b. Enhanced Resilience: ERM helps organisations become more resilient in the face of uncertainties and disruptions. By systematically managing risks, organisations can better anticipate and respond to potential threats, minimising their negative impact and quickly recovering from adverse events.
c. Competitive Advantage: Effective ERM enables organisations to differentiate themselves by demonstrating strong risk management practices to customers, investors, and regulators. This can enhance their reputation, attract new business opportunities, and improve access to capital.
d. Regulatory Compliance: ERM assists organisations in complying with applicable laws, regulations, and industry standards. By proactively managing risks, organisations can identify compliance gaps and take corrective actions to avoid penalties and reputational damage.
e. Cost Optimization: ERM helps organisations optimise resource allocation by identifying areas of inefficiency, waste, or excessive risk-taking. By streamlining processes, eliminating redundancies, and aligning risk management efforts, organisations can reduce costs and improve operational efficiency.
Implementing Enterprise Risk Management:
To successfully implement ERM, organisations should consider the following steps:
a. Leadership Commitment: Senior management should demonstrate a strong commitment to ERM and actively champion its adoption throughout the organisation. This includes allocating resources, defining roles and responsibilities, and fostering a risk-aware culture.
b. Risk Governance: Establish a clear governance structure for ERM, with defined roles, responsibilities, and reporting lines. Designate a risk officer or risk management team to oversee the ERM process and ensure its integration into decision-making at all levels.
c. Risk Framework: Develop a risk management framework tailored to the organisation’s specific needs and industry context. This framework should outline the key components of ERM, including risk identification, assessment, mitigation, monitoring, and reporting.
d. Risk Assessment and Prioritisation: Conduct a comprehensive risk assessment to identify and prioritise risks based on their potential impact and likelihood of occurrence. This assessment should involve input from relevant stakeholders and utilise appropriate risk analysis techniques.
e. Risk Mitigation Strategies: Develop and implement risk mitigation strategies that align with the organisation’s risk appetite and strategic objectives. These strategies should be tailored to address specific risks and may involve a combination of controls, risk transfer mechanisms, and process improvements.
f. Integration with Business Processes: Embed risk management practices into existing business processes and decision-making frameworks. This includes integrating risk considerations into strategic planning, project management, performance evaluation, and budgeting processes.
g. Training and Awareness: Provide training and awareness programs to educate employees about ERM principles, methodologies, and their role in managing risks. Foster a culture of risk awareness, where employees are encouraged to report and escalate potential risks.
h. Continuous Monitoring and Improvement: Establish a system for ongoing risk monitoring and reporting. Regularly review and update the risk register, assess the effectiveness of risk mitigation measures, and identify emerging risks. Continuously improve the ERM process based on lessons learned and feedback from stakeholders.
Overcoming Challenges in Enterprise Risk Management:
Implementing ERM can present challenges, but organisations can overcome them with proper planning and execution:
a. Organisational Silos: ERM requires collaboration and information sharing across different functions and departments. Breaking down silos and fostering cross-functional communication is essential for effective risk management.
b. Resistance to Change: Resistance to change can hinder the adoption of ERM. Organisations should invest in change management efforts, addressing concerns, and providing training and support to employees.
c. Data and Information Management: ERM relies on accurate and timely data and information. Organisations should establish robust data management systems, ensure data integrity, and leverage technology solutions for data collection, analysis, and reporting.
d. Risk Appetite Alignment: Aligning risk appetite across the organisation can be challenging. Clear communication and dialogue between senior management and relevant stakeholders are crucial to establish a shared understanding of risk tolerance and strategic objectives.
e. Evolving Risk Landscape: The risk landscape is continuously evolving, with new risks emerging and existing risks evolving. Organisations should stay updated on industry trends, regulatory changes, and emerging risks to ensure the relevance and effectiveness of their ERM practices.
Enterprise Risk Management is a strategic imperative for organizations to navigate the complexities and uncertainties of the modern business environment. By adopting a comprehensive ERM framework, organisations can proactively identify, assess, and mitigate risks, enabling them to make informed decisions, enhance resilience, and gain a competitive advantage. Successful implementation of ERM requires leadership commitment, a robust governance structure, integration with business processes, and a risk-aware culture. Overcoming challenges and continuously improving the ERM process will contribute to long-term success and sustainability in today’s dynamic business landscape.
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Common Biz Problems & Solutions
Common Business Problems: Impediments and the BusinessRiskTV Guide to Problem Solving
Running a business is an intricate endeavour filled with various challenges. From startup ventures to well-established corporations, businesses face a range of problems that can hinder their growth, profitability, and overall success. Recognising and addressing these issues promptly is crucial to ensure the longevity and prosperity of any organisation. In this article, we will explore some common business problems, discuss why they impede businesses, and present the BusinessRiskTV Guide to Problem Solving.
I. Financial Constraints
One of the most prevalent issues faced by businesses is financial constraints. Limited access to capital, cash flow problems, and high operating costs can cripple an organisation’s ability to invest, expand, and innovate. Insufficient funding can prevent businesses from hiring top talent, acquiring necessary resources, and adapting to market changes. Without a strong financial foundation, companies may struggle to remain competitive and sustain their operations in the long run.
II. Lack of Innovation
Innovation is vital for businesses to stay relevant and competitive in today’s dynamic market. However, many organisations face the challenge of stagnation and a lack of innovation. This problem can arise due to a rigid organisational structure, resistance to change, or a failure to allocate resources for research and development. Without a focus on innovation, businesses may fail to keep up with evolving customer demands and technological advancements, ultimately losing their competitive edge.
III. Ineffective Marketing and Branding
Marketing and branding play a significant role in shaping a business’s perception among consumers. However, many companies struggle with developing effective marketing strategies and building a strong brand identity. Inadequate market research, ineffective communication, and a lack of brand consistency can lead to low customer engagement, reduced sales, and difficulty in attracting new customers. Without a robust marketing and branding approach, businesses may fail to differentiate themselves from competitors and struggle to establish a loyal customer base.
IV. Poor Customer Service
Customer satisfaction is paramount to the success of any business. However, poor customer service can drive customers away and damage a company’s reputation. Insufficiently trained staff, unresponsive customer support, and ineffective complaint resolution processes can create negative experiences for customers. This can result in lost sales, diminished customer loyalty, and negative word-of-mouth publicity, all of which can have a significant impact on a business’s bottom line.
V. Operational Inefficiencies
Operational inefficiencies can arise from various factors, including ineffective processes, poor supply chain management, and inadequate resource utilisation. These inefficiencies lead to delays, increased costs, and reduced productivity. Over time, they can result in decreased customer satisfaction, decreased profit margins, and a loss of competitive advantage. Addressing operational inefficiencies is crucial for optimising business performance and ensuring smooth operations.
VI. Human Resources Challenges
Managing human resources can be a complex task for businesses. Challenges such as attracting and retaining top talent, fostering employee engagement, and addressing conflicts within the workplace can impede productivity and hinder organizational growth. Failure to create a positive work culture and provide opportunities for professional development can lead to high turnover rates and a loss of valuable expertise. Investing in human resources and addressing these challenges is essential for building a motivated and skilled workforce.
BusinessRiskTV Guide to Problem Solving
To overcome the common business problems outlined above, the BusinessRiskTV Guide to Problem Solving offers a systematic approach to identify, analyse, and address issues effectively. Here are the key steps of the guide:
Problem Identification: Thoroughly examine your business operations and identify the specific problems hindering growth and success. This could involve conducting surveys, analysing data, and soliciting feedback from employees and customers.
Root Cause Analysis: Determine the underlying causes of the identified problems. Look beyond surface-level symptoms to identify the core issues impacting your business. Use tools such as the “Five Whys” technique to delve deeper into the root causes of the problems.
Prioritisation: Prioritise the identified problems based on their potential impact on the business and the feasibility of addressing them. Focus on tackling the most critical issues first to maximise the positive impact on your organisation.
Collaborative Approach: Involve key stakeholders, including employees, managers, and customers, in the problem-solving process. Embrace diverse perspectives and encourage open communication to gain a comprehensive understanding of the problems and potential solutions.
Solution Generation: Brainstorm potential solutions to address the identified problems. Encourage creativity and innovation during this stage. Consider both short-term fixes and long-term strategies that align with your business goals.
Evaluation and Selection: Evaluate each potential solution based on its feasibility, cost-effectiveness, and alignment with your business objectives. Select the solutions that are most likely to deliver positive results and address the root causes of the problems effectively.
Implementation: Develop a detailed action plan for implementing the selected solutions. Assign responsibilities, set deadlines, and allocate necessary resources. Communicate the plan to all stakeholders and ensure everyone is aligned and committed to the implementation process.
Monitoring and Evaluation: Continuously monitor the progress of the implemented solutions and evaluate their effectiveness. Use key performance indicators (KPIs) to measure the impact of the solutions on your business. Make adjustments as needed to optimise the outcomes.
Continuous Improvement: Problem-solving should be an ongoing process. Regularly review your business operations, gather feedback, and seek opportunities for improvement. Foster a culture of continuous learning and adaptation within your organization.
Common business problems can impede an organisation’s growth and success. However, by recognising these challenges and implementing effective problem-solving strategies, businesses can overcome these obstacles and thrive. The BusinessRiskTV Guide to Problem Solving provides a structured approach to identify, analyse, and address problems systematically, empowering businesses to make informed decisions and drive positive change. By prioritising problem-solving and embracing a culture of continuous improvement, businesses can overcome challenges, enhance their competitiveness, and pave the way for long-term success.
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BusinessRiskTV Guide To Business Protection
Running a successful business requires more than just a great product or service. It involves understanding and managing the risks that can impact your organisation. From financial risks to cybersecurity threats, there are various factors that can jeopardise the stability and growth of your business. In this BusinessRiskTV Guide to Business Protection, we will explore the key areas you need to consider to protect your business from potential risks.
Risk Assessment The first step in protecting your business is to conduct a thorough risk assessment. This involves identifying and evaluating the potential risks that your business may face. It is essential to assess both internal and external factors that could impact your operations. Internal risks may include financial instability, employee turnover, or operational inefficiencies. External risks can range from economic downturns to changes in regulations or new competitors entering the market. By conducting a comprehensive risk assessment, you can prioritise your efforts and allocate resources effectively.
Financial Risk Management Financial risks can have a significant impact on your business’s sustainability. It is crucial to develop a robust financial risk management strategy to protect your company’s assets and ensure its long-term viability. This includes identifying potential risks such as cash flow issues, debt management, currency fluctuations, and interest rate changes. Implementing financial controls, diversifying revenue streams, and creating a contingency fund are some of the strategies you can adopt to mitigate financial risks.
Insurance Coverage Insurance plays a crucial role in protecting your business from unexpected events. It is essential to assess your insurance needs and ensure that you have adequate coverage. Different types of insurance policies are available to address specific risks, such as property insurance, liability insurance, business interruption insurance, and cyber insurance. Carefully review the terms and conditions of each policy to ensure that it aligns with your business’s unique requirements. Regularly reassess your coverage to account for any changes in your operations or business environment.
Cybersecurity Measures In today’s digital age, businesses are increasingly vulnerable to cybersecurity threats. Protecting your business’s sensitive information and customer data is of utmost importance. Implement robust cybersecurity measures, including firewalls, encryption, secure passwords, and regular data backups. Educate your employees about the best practices for data security and create a culture of awareness within your organization. Conduct regular security audits and stay updated with the latest cybersecurity trends to stay one step ahead of potential threats.
Legal Compliance Compliance with laws and regulations is critical to protecting your business from legal risks. Failure to comply with relevant regulations can result in hefty fines, legal battles, and damage to your reputation. Stay informed about the laws and regulations that govern your industry and ensure that your business adheres to them. This may include data protection laws, labor regulations, environmental regulations, and consumer protection laws. Establish robust compliance processes, including regular audits and training programs, to minimise legal risks.
Business Continuity Planning Developing a comprehensive business continuity plan is essential to ensure that your business can withstand unexpected disruptions. Identify the critical functions of your business and create contingency plans to mitigate risks. This may involve developing alternate supply chains, establishing remote work capabilities, or creating backup systems for crucial operations. Regularly test and update your business continuity plan to account for any changes in your operations or potential risks.
Reputation Management Protecting your business’s reputation is crucial for long-term success. A damaged reputation can result in loss of customers, decreased revenue, and difficulty attracting top talent. Implement strategies to build and maintain a positive brand image. This includes delivering excellent customer service, being transparent and ethical in your business practices, and actively managing your online presence. Monitor social media platforms, respond promptly to customer feedback, and address any negative publicity proactively.
Strategic Partnerships Collaborating with strategic partners can help mitigate risks and enhance your business’s protection. Strategic partnerships can provide access to additional resources, expertise, and networks that can help you navigate risks more effectively. Look for partners who complement your business and share similar values. Collaborate on joint projects, share best practices, and leverage each other’s strengths to enhance your risk management capabilities. Building strong relationships with suppliers, distributors, and other key stakeholders can also contribute to the overall protection of your business.
Employee Training and Engagement Your employees are an integral part of your business’s protection. Investing in employee training and engagement can help mitigate risks and enhance your overall business resilience. Provide regular training sessions on topics such as risk awareness, cybersecurity, compliance, and crisis management. Foster a culture of open communication, where employees feel comfortable reporting potential risks or suggesting improvements. Engaged employees are more likely to be vigilant and proactive in identifying and addressing risks, contributing to a safer and more secure business environment.
Continuous Monitoring and Evaluation Business protection is an ongoing process that requires continuous monitoring and evaluation. Regularly review your risk management strategies and update them as necessary. Stay informed about the latest trends and developments in your industry to anticipate potential risks. Monitor key performance indicators (KPIs) and implement a robust reporting system to track the effectiveness of your risk management efforts. Conduct periodic audits and risk assessments to identify any emerging risks or areas for improvement.
Protecting your business from potential risks is essential for its long-term success and sustainability. By conducting a thorough risk assessment, implementing financial risk management strategies, securing adequate insurance coverage, strengthening cybersecurity measures, ensuring legal compliance, developing a business continuity plan, managing your reputation, leveraging strategic partnerships, investing in employee training and engagement, and continuously monitoring and evaluating your risk management efforts, you can enhance your business protection. Remember, business protection is an ongoing process that requires adaptability and a proactive approach to address the ever-evolving risks in today’s business landscape. By prioritising risk management and taking proactive measures, you can safeguard your business and position it for long-term growth and success.
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Sometimes we have to accept the risks our businesses face to achieve our goals. Taking no action to control the risks does not mean you have not managed the risk. It means you have identified and assessed it and proactively choose to accept it as the risk is within your risk tolerance and appetite for risk.
The other extreme is that you avoid the risk identified. The risk is beyond your risk tolerance and appetite for risk to pursuance of your business objectives.
Developing a balanced risk management action plan is not easy but it should be simple to work well.
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Create a business risk management plan after identifying key threats and opportunities for your business: PESTLE example
A business risk management plan for a business leader in the UK could include the following:
Political risks:
Monitor changes in government policies and regulations that may affect the business
Assess the potential impact of political instability on the company’s operations and supply chain
Develop contingency plans for disruptions caused by political events
Economic risks:
Monitor economic indicators such as GDP growth, inflation, and interest rates
Assess the potential impact of economic downturns on the company’s revenue and profitability
Develop strategies to mitigate the effects of economic fluctuations on the business
Social risks:
Monitor changes in consumer behavior and preferences
Assess the potential impact of social trends on the company’s products and services
Develop strategies to adapt to changes in consumer demand
Technological risks:
Monitor advances in technology that may disrupt the company’s business model
Assess the potential impact of technological innovations on the company’s competitiveness
Invest in research and development to stay ahead of technological changes
Legal risks:
Monitor changes in laws and regulations that may affect the business
Assess the potential impact of legal changes on the company’s operations and compliance costs
Develop strategies to mitigate legal risks, such as insurance or implementing compliance programs
Environmental risks:
Monitor changes in environmental regulations and standards
Assess the potential impact of environmental factors on the company’s operations and supply chain
Develop strategies to mitigate environmental risks, such as implementing sustainable practices or investing in renewable energy.
Note: PESTLE Analysis is a framework for assessing the external factors that may affect a business. It is a useful tool for identifying potential risks and opportunities for a business.
PESTLE BUSINESS RISK PLAN
Risk Type
Key Considerations
Potential Impact
Mitigation Strategies
Political risks
Changes in government policies and regulations
Disruptions to operations and supply chain
Monitor political developments, develop contingency plans
Economic risks
Economic indicators such as GDP growth, inflation, and interest rates
Reduced revenue and profitability
Monitor economic indicators, develop strategies to mitigate effects of economic fluctuations
Social risks
Changes in consumer behavior and preferences
Reduced demand for products and services
Monitor social trends, develop strategies to adapt to changes in consumer demand
Technological risks
Advances in technology that may disrupt business model
Loss of competitiveness
Monitor technological developments, invest in R&D to stay ahead of changes
Legal risks
Changes in laws and regulations
Increased compliance costs and legal liabilities
Monitor legal developments, implement compliance programs and insurance
Environmental risks
Changes in environmental regulations and standards
Negative impact on operations and supply chain
Monitor environmental developments, implement sustainable practices and invest in renewable energy.
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Aligning your management of risk with your business objectives
Enterprise risk management ERM principles and practices can help you achieve your business objectives with less uncertainty. What are your business goals and initiatives? How well is your business currently performing? Could you do better? What is stopping your business from achieving its full potential?
If you could ERM could help you do better. Bring everyone together to achieve more with the same resources. Redirect these limited resources for better effect on business performance.
Develop a better risk management plan to boost business performance
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Business reinvention with BusinessRiskTV
Change management thinking to a more balanced risk approach to threats and opportunities. Reinvent your business risk management model. Work with top thought leaders in the world of business thinking.
Evaluate your current business situation
Make more informed business decisions on how to proceed
Think about your appetite and business risk tolerance when considering what you want to achieve
The business marketplace is always changing. What people and business leaders want or expect changes. Change your business thinking to respond with more confidence. Proactively manage potential future risks better today.
Step guide to reinventing your business with BusinessRiskTV
Our guide to reinventing your business. Start with your risk management culture. Identify your management team risk appetite and risk tolerance. Identify your corporate tolerance to risk. The key to your business reinvention is your risk culture. You can then change your
risk management principles
risk management framework and
risk assessment process
This will help you deploy a risk management plan that works better for your business.
Develop a new business model for today and tomorrow
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Overcome resistance to become a more forward thinking business with stronger resilience. Build greater business success with less uncertainty. Get ahead of the current business curve.
First step to reinventing a business
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Refresh your thinking and that of your business management team. Focus your resources on whats important to your business success. Manage the significant uncertainties impacting on your business objectives.
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Reinvent your thinking. Reinvent the way you respond emotionally to risk.
Is your risk perception reality?
How should you respond to risk events affecting other businesses and your business?
How do you prioritise risk management action plan?
Choose a more certain more positive business risk management plan for your business.
Make sure you have the risk tolerance capacity to manage threats and right risk appetite to achieve greater business success.
Adversity and failure can help you become more successful especially if you mitigate downside risk.
Grow your business regardless of how tough the economic climate is. Overcome all roadblocks.
Drive your business forward. Change course if you need to but keep on track to achieve business objectives
Find greater comfort and a quiet nights sleep knowing you have adopted best risk management plan for your business
Get help to find the best way forward for your business. Create more value with less uncertainty from existing resources. Start planning for greater business success.
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Business risk manager service with BusinessRiskTV. Want help to protect and grow your business faster? Find out more about our free business risk management online service. Network with top business thought leaders locally and globally.
Manage business risks better with BusinessRiskTV.com
An holistic business risk management approach ensures the best use of business resources.
How To Manage Risk In Business
Practical ways to manage risk better. Tackle common business risks holistically enterprise wide. Learn best practice risk management techniques in business.
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Its not about how to reduce risk
External or internal driven risks threaten your business. They also create new business development opportunities. Reducing the effect of uncertainty on your business is important.
How do you manage enterprise risks? Do you put risk into different silos like safety, insurance, cyber risk, sales strategy etc? They can be rolled into one holistic risk based approach.
What is the most effective way for a business to manage risk? Look at what you are trying to achieve? Could you achieve more with your existing assets? Has good luck been saving you from disaster?
Understand the bigger picture first. When you know what risk you have then manage it.
There is danger being in business. Danger that you could blow your value. Danger you could under perform.
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Enterprise risk management articles. Latest news opinions and product and service reviews. Engage with your peers. Ask the experts for help to overcome your risk management problems.
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Learn what not to do and why as well as what you should be doing with BusinessRiskTV
Corporate Misbehaviour Is A Misnomer
Corporate or enterprise entities do not make mistakes or create a bad business culture executives do. Illegal unethical or bad business practices arise because that’s the way executives want a company to achieve corporate objectives. Executives may or may not consider their business practices as bad or unethical but the result is the same corporate misbehaviour.
Understanding corporate misbehaviour
It may be a pointless waste of money undertaking a business health check if the executives are going to be unreceptive to the final risk management report, or simple pay lip-service to the outcomes.
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Many CEOs know what game needs to be played with enterprise risk management ERM before they can return to their own agenda for the business. Internal or external risk management audits can just play into the CEO’s attitude to risk management. Such executives short-term philosophy seems to rely on the hope that the shit doesn’t hit the fan during their time as CEO and whatever happens after they move on is not a concern for some incumbent CEOs.
Much of executive misbehaviour, and therefore corporate misbehaviour, is a direct result of executive pay and associated benefits. Misdirecting executive pay and rewards drives most if not all catastrophic corporate collapses. Before the collapse poor executive pay and rewards strategies poison business innovation and employee motivation.
To anticipate which companies will survive sustainably you could look at how executives are rewarded. It is the single biggest driver of corporate culture and long-term success, or not as the case maybe.
Executive managers cause corporate scandals, corporate scandals are not externally driven. The proximate cause of the corporate scandal or collapse doesn’t start further down the organisation nor does it start from outside the company. CEO bad behaviour is normally the proximate cost or the catalyst for corporate collapse.
Corporate Scandals
Corporate scandals aren’t a surprise to most executives, never mind the CEO. They take the level of risk they think is required to achieve their business objectives. They roll the dice and sometimes it pays off and sometimes it doesn’t.
Taking Risks To Achieve More In Business With BusinessRiskTV
For example, many in the banking and finance industry look upon the financial crisis as an external risk that impacted on their business strategy. No, or little, blame can be placed at the bankers door! It was all the other bankers and financers who were at fault for their share price collapse, mass redundancies and lost business opportunities – not their fault as their business was doing just fine until the financial crisis tsunami hit their business.
Such egotistical responses stem from either self preservation, or lack of care for their part in the near global systemic financial collapse of the banking and financial sector and the very near global anarchy which would have ensued. Politicians, who were part of the problem, became part of the solution – make money as cheap as possible via low interest rates and massive almost unremitting quantitative easing QE.
Mothers forget how bad childbirth was
More than a decade after the start of the financial crisis there is still mass unemployment in the developed world and the developing world lost a decade of opportunity to crawl out of poverty. However, the key decision-makers in the business world have either forgiven themselves or reinvented themselves in position of power. In addition, a new raft of politicians are in place, or about to find positions of power, to facilitate the next financial crisis.
At its least useful, enterprise risk management ERM is a tool to spread the blame should the shit hit the fan, so one would have thought that ERM could be more popular than it is. At its most useful it helps business leaders make business decisions that are more likely to be good ones for the long-term sustainability of the business for the benefit of all stakeholders in the business – including the CEO.
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Enterprise risk management ERM tips advice and support with BusinessRiskTV.com
A to Z guides. Understand the theory and practice of risk management. Ask for help tips advice and training to embed risk management in your organisation.
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Improve your risk monitoring and decision making
Improve collaboration on enterprise risk management ERM with top thought leaders. Mitigate threats and seize new business opportunities.
Understand Enterprise Risk Management ERM
BusinessRiskTV can help you to understand ERM to help protect your business better and grow it faster. Embed enterprise risk management principles and practices to boost your business performance.
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What are the internal and external risk drivers in your organisation?
Are you responsible for driving the risk management process in your enterprise? Need some help to manage key risk drivers better? Learn how to improve the level of understanding of risk across your enterprise.
New to it? Learn how to develop and a risk management process in your business.
Reap the benefits of enterprise risk management for your organisation
Manage and optimise risks facing your organisation to achieve more with your existing resources.
Develop an enterprise wide approach to managing strategic, operational and project risks. Understand external and internal risks to achieve objectives with less uncertainty.
What’s good and bad in enterprise risk management?
Make enterprise risk management easier to understand and understand corporate risk better
Get the help of your peers and risk management experts to help you to develop a sustainable more successful business.
What role should enterprise risk management play in business and not for profit organisations? Do you like enterprise risk management ERM and want to learn more. Looking for practical enterprise risk management solutions for your business?
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Leadership perspective to enterprise risk management
Working with senior managers executives business owners and entrepreneurs to embed practical enterprise risk management ERM solutions.
Enterprise risk management will not provide any net benefit to the organisation if its leaders don’t buy in to the principles the benefits of risk assessment process and the framework the best performing companies conform to.
Business leaders must agree the risk appetite and risk tolerance of the organisation before the risk assessment process can begin
The risk assessment process is a good management tool but it can be nullified corrupted and cost the organisation money and performance if it doesn’t operate within and support the risk culture of the business.
Enterprise wide perspective on corporate risks
Strategic operational and project risks all need to be included in the risk management framework and risk assessment process to provide consistency of business decision-making to improve performance of the business.
Business risk assessment tools techniques and tips with BusinessRiskTV.com
Identify and assess your business risks. Identify risks to your business objectives. Control strategic operational and project risks. Prioritise the use on your limited resources after assessment of the key risks.
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Learn how to assess risk and create a risk management plan to improve business performance. Identify cost effective controls to mitigate and reduce risks.
Managing Business Risks Better with C&C Associates
Evaluate business risks. Identify and assess factors with downside impact on corporate objectives, or upside potential to boost business performance.
Find out about a different more risk based approach to planning your business’s future success.
Develop a new process of identifying risks, assessing risks and developing new strategies to manage risks facing your organisation.
Manage the internal risks and external risks facing your business better
Learn from peers and risk assessment experts. Continuously improve your own risk assessment process. Pick up tips on how to embed and integrate risk assessment into your enterprise’s strategic, operational and project decision-making.
Regularly meet online wherever you are in the world to speak to your peers and risk assessment experts. Collaborate on agreed risk assessment projects or learn during risk assessment workshops to improve your risk knowledge and risk management skills.
See a different risk perspective based on others experiences and risk knowledge that will provide a different enterprise risk insight
Improve the effectiveness of your risk assessment process to boost your enterprise performance
Like minded individuals working to improve risk assessment best practices
Improve your corporate risk and strengthen your resilience
Improve your business performance with BusinessRiskTV.com enterprise risk management training courses.
Do you want to manage enterprise risks better?Develop your enterprise risk management knowledge. Practical enterprise risk management training courses online and in classroom.
Expand Your Risk Knowledge of Enterprise Risk Management ERM
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
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.
Contact us to schedule a free online meeting to discuss your business needs;
We will present a report recommending action to reduce uncertainty in your business planning;
Implementation of the recommendations will involve working in partnership with you to achieve your objectives.
