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And there are always opportunities to grow a business faster too. There are always leadership challenges regardless of era in business. Improve management of the biggest issues facing the business world today.
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Learn how to overcome leadership challenges. Being a successful business leader means there will always be challenges. The business problems will change but it is naive to thing that your challenges are more difficult than the challenges other leaders have overcome in the past.
Under the radar for many business leaders is the 4th industrial revolution. This new decade will see threats to the survival of some traditional businesses and opportunities to develop new income.
Many thing the coronavirus is a short term problem we need to get to grip with. However the coronavirus outbreak will kill people interrupt business activity and reduce global business growth for the whole of 2020 and much of 2021. However the coronavirus will also drive new ways of working that will last after the virus has been brought under control.
In the UK the biggest issues combined that impact on future business success is poor productivity and lack of skills. UK business leader must invest in capital assets including automation or machinery as well as people. Workers in the UK need dramatic upskilling. There has been a distinct lack of investment over the last decade that needs redressing over the next decade. Instead of whinging about lack of immigration UK business leaders need to be more innovative and invest in engaging existing workforce more.
We can achieve so much more than we are currently doing. There is a significant lack of investment in innovation and new ideas to overcome business challenges. Perhaps it is a hangover from the slow recovery from the 2008 financial crisis. Business leaders have thought about survival for so long that it has suppressed a more creative and innovative business world.
We need to change our business thinking. Invest in innovative thought processes to discover new ways of overcoming business problems in front of us.
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Do you want to create more time for your business to grow faster with less uncertainty? Faced with a small budget for business protection and growth would you choose an online group session with other business leaders to save time and money? It is an idea some business leaders are investigating
Group online sessions solve common business problems faster and gives business leaders chance to collaborate with other business leaders with same attitude to business development and protection.
Demand on business leaders time outweighs time available to manage all business risks cost effectively. In recent years the speed of change in the business environment has accelerated putting increased pressures on business leaders wearing many business responsibility hats.
In addition many businesses have complex business systems and business needs which can make finding the best business solutions more difficult to identify.
The traditional one to one business consultation can be prohibitively expensive and the business problem can seem unique when in fact it affects many businesses.
With limited risk management funding or possibility of employing inhouse risk management expert specialists business leaders may need to find innovative ways to find best business solutions quickly within available budget.
Business leaders collaborating on solving business problems together faster and cheaper
Many businesses have the same need for commercial insurance cover and other solutions to protect the business that do not involve insurance. Most if not all business want to increase their opportunities to sell more and increase profitability. Business leaders may seek advice from risk management experts independently to advise on managing such business risks.
Instead of seeing a risk management consultant or business adviser on your own you could get together with a group of other business leaders needing to discuss the same business problems.
If a group of up to 10 business leaders came together with the same business problems could they share experiences to solve risk management problems faster and potentially cheaper?
BusinessRiskTV risk management network partners facilitate online business leader meetings. The risk management facilitator gathers together business leaders with the same or similar business problems problems before the online meetings. The risk management facilitator also compiles a list of questions the participating business leaders want to ask the group that will include attending and participating risk management experts.
The collaborative group of business leaders and risk management experts will know the business problems to be focused on and details of the businesses involved in the online discussion ahead of the online meeting. This will enable attendees to be aware of the potential value of the meeting to them and prepare for the meeting. The participants in the online problem solving meeting must not only prepare to solve their business problems but must be prepared to help share solutions to help other attendees problems.
Sharing problems and helping solve others problems is the purpose of the meeting.
The problem solving group may well discuss sensitive issues. This does not need to constrain those attending. Trust quickly develops as participants quickly realise they are not alone with their business problem and that they are talking to people who have already solved their problem. You create a bond with your fellow business leaders. The more you open up the more you get out of the meeting for your business. The sharing of experiences with other business leaders can be empowering.
The aim of the collaborative online meetings is to quickly find solutions to business problems to save time and money for the participants. Participants access more practical problem solving information that has worked already. The meetings help business leaders to more cost effectively use their own time and resources in solving their business problems and the business problems of others. As they are common problems experienced by all those attending then common solutions that actually work well will come to light without the need for discussion duplication.
You may prefer a one to one meeting with a business risk management consultant if you have the budget. However why reinvent the wheel. Other business leaders have solved your business problem already. Tap into their experience to solve your business problems quicker and potentially cheaper.
Collaborative business problem solving online meetings are for business leaders who already know what their business problems are. They just want to know the solutions quickly so they can go off and implement them for themselves and their business.
It is unlikely that people will attending the meeting will diagnose the problem that is holding your business back. That is not the purpose of the online meetings. You identify what your business risks are and come to the meeting to find risk management solutions or ideas that have worked and could work for your business.
There are measures in place to ensure the confidentiality of information shared within the group and you can see one of our risk management experts from our risk management network on an online one to one appointment who will have seen your business problem before. However collaborative group sessions can quickly overcome barriers to your business growth and a valuable peer support network.
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Why calculated risk taking is important with BusinessRiskTV.com
Taking more calculated risks in the next decade. Do not fear taking more calculated risks. Business leaders are often afraid to take risks.
Taking more risks to achieve more success comes down to risk knowledge and business intelligence. A lack of risk knowledge leads to increased fear. This can result in missed opportunities to grow faster.
What are the potential costs of taking more risks?
What are the potential benefits of taking more risks?
How will taking more risks benefit your business?
What are the alternatives?
How much better would your business perform if the best case scenario came true?
What are the worst outcomes that could happen if you took extra risks and how could you reduce the risk?
How bad would it be if the worst case scenario risk event materialised?
What would your business look like in 5 years if your risk decisions were taken?
Assessing the risks incorporating both upside and downside risks will enable you to make more balanced business decisions to improve performance.
Welcome the threats in the 2020s as they bring opportunities
Embrace the opportunities in the new decade but be risk aware about the threats that come with the opportunities to grow. Work together with our network of business leaders and risk management experts to finish the 2020s better than you started.
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In an increasingly litigious and unforgiving society should business leaders take personal responsibility for business mistakes? In previous decades business leaders and politicians were often seen falling on their sword following risk events whether they were personally responsible or not.
However either through fear of legal action or fear of being lynched online or offline leaders now rarely fess up to being to blame. There have been some exceptions but over recent decades leaders have toughed it out or doubled up on their mistakes.
It was on my watch so I am responsible
Is the fear of blame or blame culture led us to the position that we are failing to learn from mistakes?
Regardless of the cause there is a definite change in the honour or moral standing of our leaders. Leaders who make mistakes have to be brought screaming and shouting to be held to account when mistakes happen. More often than not they are then retired early literally or metaphorically to avoid personal accountability.
Many people respect people who make mistakes more if they take responsibility for mistakes. To err is human after all even when it is a computer fault!
Would it not be better if our leaders accept responsibility for mistakes and then created a written plan to avoid making the same mistakes again in future
Does a business organisation or political party not lose the opportunity to truly learn from mistakes made if the leaders are immediately jettisoned following mistakes. Leaders voluntarily stepping down following mistakes or failures are actually taking the easy way out for themselves not necessarily the business.
Why do our leaders not clear up their own mess more often?
Our next online enterprise risk management conference event is exploring the need for greater accountability in business and in society in general.
BusinessRiskTV Leadership Conference online events seek to engage top business leaders around the world in enterprise risk management topics. The result of the online discussions and interactions are not published. Instead the participants who have contributed reap the benefits for their own organisations. Their takeaways can be embedded to improve their own organisation risk management performance.
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Overcoming procrastination with BusinessRiskTV.com
Procrastination is one of the biggest risks business leaders face. Putting business decisions off until tomorrow is delaying success and future growth. The best time to act to improve your business performance is now.
Manage out the uncertainty of your business decision making process to make better decisions quicker to improve business performance faster
If you do not make the decision presented to you at least you can say it was not your fault it went tits up! Right? Maybe but your procrastination may be impeding your business performance.
With procrastination you are not managing business risks. You are just delaying the management of risks. Face up to your business risks today!
Many business leaders procrastinate on business risks because they think that risk events will not affect their business or that they have commercial insurance so are adequately protected from business risks. Simply effectively burying head in sand will not change a thing about your business risks. Commercial insurance may provide some money when you really need it however most business risks are uninsured or uninsurable even when you have an insurance policy!
Why procrastination is bad for your business
If you are leading your business and you are a procrastinator you may well miss business growth opportunities. Worse you maybe threatening the survival of your business should a risk event occur and you buried your head in the sand leaving your business unable to cope with the consequences of the risk event materialisation.
A big drain on your business success could be having business planning meetings without actually making changes to the business. Decide what is best and act with more confidence with enterprise risk management ERM!
Too often business leaders take comfort in talking about changes to the business but do not like the responsibility or accountability arising from actual actions to change the business. It is easy to talk a good game!
Stop avoiding the tough decisions in business
Initiate the changes necessary to improve your business performance. Accomplish more with your existing business resources and stop making excuses or blaming others! Take action and stop procrastinating. Take the right risks for your business success in future.
Deferring business decisions frustrates most people in your business. Confident business leaders assess the risks and become action takers proactively putting in place cost effective risk management controls.
Get ahead of your competition before the opportunity for business growth disappears for your business
You may think your procrastination is not damaging your business. Chances are it is in one way or another.
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Our purpose is to help you solve important problems. Overcome barriers to growth and business resilience. Our focus is to keep you focused on your business key risks that matter to your success. Free tips advice and support to understand your most important risks.
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Be the best leader your can be in an age of business disruption. Rethink your business strategy with enterprise risk management principles and practices.
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Do you want to invest in your business future today
Our future is here. We need to invest hard cash into the money innovative ideas that are just seedlings. In addition we need to invest money on old ideas that have legs but no backers. There are enormous opportunities for business and economic growth. Trouble is that we are still trying to make the obsolete ideas work for us now.
Global manufacturing has hit the buffers. There has been a rapid contraction of global manufacturing output largely due to global trade war between China and USA as well as Brexit uncertainty. Manufacturers have cut back on production and are making workers redundant.
Some parts of the world like USA Germany and UK have low unemployment levels and could cope with job losses but most of Europe cannot. Europe ha snot recovered the jobs lost in the last financial crisis.
Even in America USA manufacturers are suffering. Who is winning the trade war is unclear but it seems that there are two losers rather than one winner.
In the UK and broader European manufacturing marketplace manufacturers are suffering the double whammy of global slowdown and Brexit uncertainty. There could be two losers here too if they politicians do not agree a deal.
The world is seeing low levels of business activity not witnessed since the last recession in 2008 caused factories to shut up shop.
The global and UK manufacturing marketplaces are grinding to a halt. The solution is not to button down the hatches to weather the growing global economic storm. The solution is to invest in real opportunities for business growth we already have before us.
Businesses say that their biggest fear is of governments overspending. Borrowing to cover day to day expenses is the start of a slippery slope to perpetual poverty. UK governments borrowing to invest in infrastructure will support businesses to grow faster.
It is ridiculous that all parts of the UK do not have superfast broadband. So many opportunities could open up if this simple technology was available to all entrepreneurs.
Instead the world is shutting up shop. There is no shortage of great ideas. There is a shortage of money being invested in our future today.
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BusinessRiskTV Risk Management Events online help for business leaders to grow business faster with less uncertainty
Did you want to understand the threats and opportunities you are or will face?
BusinessRiskTV Risk Events will help inform your risk management decision making. Make better decisions with less uncertainty.
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BusinessRiskTV was created by Keith Lewis as a hub for business leaders to connect with business management experts and other business leaders to solve business problems quicker.
With BusinessRiskTV you can pick up free business risk management tips advice and support. Our risk management tools and facilities provide various ways to gain support when making important business decisions wherever you are in the world.
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Come back time and again for the latest business risk management news headlines opinions and reviews.
How can BusinessRiskTV help your business
With our support uncertainty will have less of a negative impact on your business. Be more positive about future of your business.
It is our mission to help protect your business better and help you grow it faster more profitably for longer. Without making the right decisions at the right time you expose your business to losses and may miss opportunities for business development.
We have a range of services to help you. Most of them are free. We are constantly evolving our range of services to keep you covered. You develop a more holistic approach to business problem solving for a greater chance of more success.
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FCA and Financial Services Review Into Banking Risk Culture
Financial services companies have continued to bring to market products that have led to claims for compensation. Nonsense of putting the customer first is often uttered in the financial services sector.
The reality is that the financial services sector risk management culture is still systemically broken and it is likely to lead to the next financial crisis. A financial crisis comes along roughly every 10 years. As we look towards 2019 the next financial crisis is overdue.
How will the next financial crisis manifest itself? Not known. Will it happen? Almost certainly. Most countries have not fully recovered from the last financial crisis. Their economies are still very weak. Even the strong are comparatively weak. This means we may never recover from the next financial crisis and so should do more to make sure the next financial crisis is avoided or mitigated.
Most likely cause of the next financial crisis is the compounding and aggregation of financial risk.
The last financial crisis grew and exploded from the productionisation of simple debt prototype ideas thought up by people who thought they were masters of the world. Despite the new false perception that after ten years we have now paid our dues we are in fact drowning in more unpaid debt than ever.
Unpaid debt will continue to be wrapped up in shiny new marketing material designed to protect the buyers from the toxicity of the core material. Piled high and sold cheap these debt instruments will be combined and recombined. The new for old debt products will build the tower that will be the start of the beginning of the end for many a business in the next financial crisis.
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What is in focus for BusinessRiskTV and its online broadcasting partners? Our online business leader community explore the risks impacting on business success or failure.
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How do you become more successful as a leader? The answer is to reduce the risks and maximise the opportunities for our company.
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Get in touch and we’ll put together a panel of business experts to answer your questions for free. Complete the form below to set the questions we wil find answers to in coming Business Question Time Online Workshops.
How to grow a company successfully with BusinessRiskTV.com
Could you manage your business risks better? Maybe more cost effectively? Could you grow your business faster?
Learn New Risk Management Techniques In Business
Common business risks facing your business could be managed better. Learn new ways to manage risk more productively with more certainty.
Running a business can be very satisfying but it can also be dangerous for the health of your finances! Potential risks will present ways to threaten business survival or reduce profitability. Other risks may present opportunities to grow faster. Both types of risk need to be managed to maximise your success both personally and corporately.
The business environment sets the scene for successful businesses it does not dictate your success or failure
Anyone can cross their fingers and hope for success but clever business leaders don’t leave their success to luck!
Not everything is going to go well no matter how hard you plan things. Life often gets in the way of the best business plans! In the real world you have to take calculated risks to achieve more than the next business leader who is risk averse.
How do you get the enterprise risk balance right though?
There are many ways to get the right enterprise risk management ERM balance right. First of all you need to know where you are now and how much of an appetite for risk your key decision makers have.
Once risk appetite and risk tolerance are clear then the culture of risk management can be tailored to strike the right risk management balance for your organisation.
How to identify manage and control the effect of risk on your business objectives
Some risk has to be accepted. How much? What is not acceptable has to be managed. How will risk is managed will dictate how sustainable your business will be in future as well as how successful it will be.
Promote and market your business on BusinessRiskTV for 12 months
Put your products or services in front of new buyers more innovatively and cost effectively
Link into your existing sales process direct from BusinessRiskTV. Increase your revenue more profitably and sustainably. Increase your revenue streams. Grow your business faster with BusinessRiskTV.