Access unbiased independent business risk information in your business risk management process.
Identify assess and understand your best business opportunities and threats to your business assets.
Prioritise your limited resources of time and money to focus your business energy on those issues most likely to bring you success in business.
Waste less time on trivial, low-risk or unimportant things related to your business objectives.
Gain risk insight knowledge and business intelligence to improve your business decision-making.
Make better decisions and act on what do you have decided upon quickly.
Make sure that decision-makers are accountable for their risk analysis, decisions and actions. overcome your false risk perceptions with better risk analysis and learn to stop analysis paralysis holding your business back.
How to improve decision-making in an organisation with BusinessRiskTV
How to improve decision-making in business
Successful business leaders:
Identify the internal and external risk factors driving the key risks impacting negatively and positively on your business objectives.
Evaluate options with best perception of risks and establish prioritisation of limited business resources where best outcomes can be anticipated.
Navigate risks and uncertainty proactively.
Formalise your decision-making process so you can monitor your good and bad decisions to learn lessons you can act upon to improve your business performance through better business decisions.
Guide your business through the coming uncertainties of your business environment
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Your strategic operational and project decisions will create or destroy your future success in business
Cost effective decision-making in dynamic business environment requires business leaders to understand key business risks. Rethink what will be critical to your success in business.
The fast-paced complex nature of the business world means business leaders must have confidence in their decision-making processes and practices to ensure they make the best decision possible at the right time. Often the right decision is required sooner than later.
Decision-making can be worked on to improve your risk management skills. You need to know how your leadership decisions will impact on your business, preferably before you implement your decision.
Leadership problems and solutions with BusinessRiskTV Help Tips and Support
Business leaders need to challenge their thinking. Proactively managing key business risks can boost your business performance. Good business leaders can often make good decisions under pressure from risk events. However they can also make decisions that exacerbate risk events.
Leadership Problems and Solutions with BusinessRiskTV
What is the biggest challenge facing business today?
Overcoming rapidly varying business risk hazards whilst growing a business
Risk factors external to the business are perhaps more difficult to control. Internal risk drivers however can be just as fatal to a business. Manage the biggest leadership challenges better.
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Our thought leader partners and risk management experts offer you free business tips advice and support. Reduce the biggest business business challenges to more easily manageable proportions.
Inform your strategic thinking and improve operational and project risks with BusinessRiskTV
Improve your key business decision making process to reduce negative outcomes and increase return on investment in business development.
Leadership challenges are inevitable. No business is immune to problems. We cannot guarantee bad thinks will not happen to your business. We can guarantee you will be better prepared to overcome business challenges.
Avoid being overwhelmed by risk events. Feel better about the way you manage your business risks. Get a quiet nights sleep knowing you are working on the key risks with the finite business resources available to you.
Challenging long-held beliefs or perceptions of threats and opportunities could reveal a better risk management strategy for your business. You may even find new business success in previously uncharted business development territory.
Learn how to identify and manage the key threats to your business objectives. Change your business decision making process to explore enterprise-wide business risks to more efficiently direct your business assets to what matters for your business success.
False Perceptions Of Risk Is Dangerous Way To Manage Your Business
Invest your efforts in what really matters not what you perceive is best use of your money and time. Basing your business decisions on false or incorrect assumptions about your key business risks is dangerous. At best you may miss new business opportunities for growth. At worst it could bring an end to your existence in business.Â
Adjust Your Leadership To Change Your Business For The Better
Work with us to gain confidence in changes to your business strategy. Changing the status quo can feel challenging. Challenging the status quo is less daunting if you engage more of your workforce in the decision process. We can assist to facilitate an exploration of what you could be doing better before you make the decision to change.
Engaging your employees to challenge possible changes encourages greater buy-in to eventual changes you choose to make. Involving employees in the implementation of the changes brings quicker rewards and more sustainable willingness to make changes work well. Making decisions in isolation at board or senior level may result in good decisions or bad decisions. However, they are unlikely to lead to the best way forward for your business or result in the best use of your resources.
We can even engage top thought leaders from around the world and other risk management experts to help no matter your industry or preferred country of operation.
Making the most from the opportunities posed by the coronaviRus pandemic with BusinessRiskTV
Hopefully not all the effects of the coronavirus pandemic will ever be over. The pandemic has given the world a stop clock to look at life in business in other ways. Hopefully a vaccine will be developed to stop people dying but we have been given a once in a century opportunity to change for the better.
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We may actually need more than one vaccine
Covid19 should really morph into something less or more deadly to survive and prosper so wherever we are we are a long way from returning to normal.
Instead of returning to normal and life in business being forever harder it could be easier and better.
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It is looking more likely that our leaders want to get back to business as usual not Business 2.1. This is understandable in terms of the complexity of getting over the worst of the pandemic. However all disasters present opportunities to change to transform into a better version of life in business.
For example around 40 percent of people in UK are still working from home compared to prepandemic rate of around 12 percent. One effect of this is to increase cost of working in short term but could it mean reduced costs of working in long term. Was it really necessary for so many people to commute to an office to work?
If the new normal postpandemic was 20 percent working from home it would mean the rest would commute every day as if it was the school holidays. Imagine how much easier that would be for all workers speed of distribution and the environment.
However that would destroy the value of many office blocks and some investments. Many of the UKs biggest property funds are frozen stopping investors withdrawing funds through fear the funds would collapse. How do you value assets post pandemic if people totally change their way of working.
How will retail recover? Will the High Street ever recover? Most retail experts feel that the world of retail may have changed forever. The virus may have turbo charged what was changing anyway but retailers and property valuations have now changed dramatically if society has changed irreversibly.
Our pension funds are no longer based on assets that are the same value. Will the value recover? It will but it will recover by basing investments in underlying assets fit for the purpose of the future not the past.
We may create a vaccine or vaccines for Covid19 and any morphed versions thereof. However if we are determined the impact of the virus will never be over. In a good way!
Could business leaders:
Continue to offer takeaway services or do deliveries from their restaurants?
Manufacture different products in addition to their core business products?
Maintain and hold on to local suppliers instead of using overseas suppliers in diversification of supply chain lines?
Explore online sales development to be more profitable?
Hold on to cost cutting measures to grow profit?
So much good and bad will flow from the pandemic. It is important not to miss out on the good as well has mitigate the bad. What opportunities and threats are in front of you will depend on your industry and perhaps location.
Now is the time to take the best strategic risk management decisions to come out of the coronavirus pandemic stronger than when you went into it
Read other articles and watch videostreams that may help you make better decisions.
How to start or grow an existing business with help and business advice from BusinessRiskTV.com
We will guide your business to being better protected and grow faster with less uncertainty.
WHO WE WORK WITH
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.
HOW IT WORKS FOR YOU
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
More engaged and productive team
More balanced risk taking with quiet nights sleep
Expansion of income streams
Ongoing experienced professional risk management support and mentoring
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.
WHAT TO DO NOW
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.
Helping you survive and thrive through coronavirus Covid19 pandemic
Use our holistic enterprise wide risk management approach to business decision making to navigate your way through this global economic crisis
Understand the key threats and opportunities from the pandemic. Make choices more confidently. Alternatively pick from our armory your weapon of choice to protect and grow your business regardless of the future risks. Risk management consulting and training services can be selected to fit your every need.
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During the coronavirus pandemic there may be opportunities to grow. Changing what you do can produce new income. You maybe fortunate that that your business activity is relatively unaffected. Whatever your reasons we can help your business sell more online for free during the coronavirus pandemic.
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Read articles and watch videostream on coronavirus pandemic business risk management trending on BusinessRiskTV
Coronavirus hits the global economy on both the supply and demand side BusinessRiskTV.com
Coronavirus threats to world economy. Coronavirus global economy impact. The coronavirus has not yet be officially acknowledged as a pandemic health risk. However it probably is already a pandemic health risk and is certainly a global economic pandemic spreading uncontrollably around world.
Although the world financial markets have had their worst time since the financial crisis in 2008 the actual impact of the coronavirus has yet to be felt and revealed. The financial markets are giving a glimpse into what is feared in future not what is happening now.
With just 36 cases in the UK it appears that the UK is relatively spared from the virus. The most worrying case out of the 36 is the one where the infected person has not been abroad and has not been in contact with anyone who has to his or her knowledge. Tracing the source is key to controlling and containing the spread of the coronavirus.
Many countries where the official numbers of coronavirus infection cases are so low is worrying
There are many countries where scepticism on figures inflates fear of a pandemic that may not be recoverable. China where the coronavirus originated from may have be slow to unveil the seriousness of the problem have been praised by World Health Organisation WHO for honest figures.
Some countries have different reasons to deliberately suppress news of an epidemic in the country. In addition there are countries which may not have the resources to identify the coronavirus. More worringly they also do not have the resources to stop the spread of the virus.
Other disasters in some parts of the world also have the potential to exasperate and accelerate the spread of the virus. What happens if the coronavirus infects refugees and economic migrants trying to escape to Europe via ItalyGreece Bulgaria and Spain. Germany not long ago took around one million of these people. If such numbers flowed again and they also had the coronavirus how much more quickly would the coronavirus spread throughout Europe? Exponentially fast!
Control of coronavirus COVID19 is unlikely especially as there is no vaccine
A vaccine by most estimates is unlikely to be identified until early 2021. Even when a vaccine has been found it then has to be manufactured in sufficient quantities to have a reduction in the spread of the virus never mind eliminated.
The coronavirus is likely to be with us until end of 2021 at the earliest never mind getting coronvirus spread under control this year.
Major sporting events like the Olympics this summer are unlikely to proceed. Whilst this creates obvious disappointment for the athletes supports and Japanese people it in one event creates massive economic loss for Japan Olympic sponsors and lots of products or services will not be sold if the Olympics is cancelled.
Businesses will face reduced performance at best and potentially even collapse
If you are not able to sell products or services how do you pay fixed costs never mind variable costs of being in business. Potentially fatal could be loss of the ability to pay your creditors who may close you down to try to get their money back.
Central banks around the world have yet to realise they have not recovered from the financial crisis in 2008. Their tools to tackle global recession including lowering interest rate and increasing quantitative easing QE are worn out. There is little manoeuvrability for central banks. In COVID19 terms central banks do not have very good vaccines left at their disposal to support economic growth.
Individual countries will undoubtedly fall into a recession due to the coronavirus COVID19
Countries like Italy already severely impacted by coronavirus were already teetering on the edge of recession. The coronavirus will push them over the edge. The northern part of Italy is the powerhouse of the Italian economy and much of it has already been shutdown. Can Italy really stop the spread which will make economic impact worse?
Even countries like USA can dramatically lose economic growth. Not all Americans have good access to healthcare services. If you cannot call upon your healthcare services to detect and help control the coronavirus spread then it could spread like wildfire in USA if it takes hold and it is close to taking hold now.
The coronavirus spread in poorer less developed countries is essentially unstoppable. How can parts of Middle EastAfricaAsia Central America and South America really contain spread of coronavirus. The how do you contain the spread from these areas to more wealthy parts of the world.
The economic impact is going to be so severe as it hits not just the supply side of the economy it cuts demand too
When disaster strikes businesses can stop supplying cause the risk event stops output abruptly. However the coronavirus dramatically cuts demand quickly too. People stop assembly in public in restaurants events bars concerts sporting events etc through fear of catching the coronavirus. They may start spending again when under control but we are looking at end of 2021 before this even has possibility of subsiding.
Other concerns include lack of scientific knowledge about coronavirus. The boffins do not know enough yet to be sure we will ever get this under control.
We do not know how long the virus can survive on surfaces when people cough or touch surfaces with contaminated hands.
We do not know if our normal ways of cleaning surfaces works on coronavirus.
There have been suggestions that people who have had coronavirus in recent months and recovered then contract virus again. Potentially not only will infected people not be immune in future but then may not be cured in first place or regenerate virus.
Many people across the world including the UK will now be thinking they have a mild illness or seasonal flu when in fact they have COVID19. When it can be contained you are tracing contacts to track down infection line to control risks. However when COVID19 is spreading unencumbered mildly infected people will be spreading virus unknowingly and then 80 percent infection across the UK and world starts to become realistic.
We do not know if the warmer weather will help the world to control the spread of the virus like it did with SARS or whether it will continue to spread.
We do not know if COVID19 will morph into something worse or morph into something less virulent.
Some estimates suggest that 80 percent of people in UK will contract the coronavirus COVID19 if it spreads uncontrollably in UK. The UK could well be on cusp of uncontrollable spread as the UK government gears up to act this week. On the positive side 80 percent of those who contract the virus only get mild manageable symptoms. On negative side a fatal rate of even 1 percent of UK population is still around half a million deaths.
One way some countries may manage the coronavirus risk is simply to let it spread across the whole country without stopping business activity or economic growth. If 80 percent have mild symptoms and 1 percent die what is their tolerance of risks. Will they chose economic slowdown or losing 1 percent of their population? This could mean the rest of the world suffer boomerang epidemics. What could make this less likely is that leaders can die of the virus just like their peasants!
Safety at work and managing health and safety of your workforce
Employers have a duty to take reasonable steps to protect their workers. This includes protection from exposure to coronvirus. This has obvious implications about travelling to coronavirus hotspots but also includes the coronavirus coming to your workplace. The coronavirus could change forever how we do business in future. If and when the spread of the coronavirus is brought under control we may find it more sensible to have less contact face to face and more online communication.
Ocado in UK who deliver to more wealthy customers have already announced a jump in the number of people ordering online for food and drink delivery to home. This is just one example of winners as well as losers from COVID19 outbreak.
BusinessRiskTV
We are in the foothills of the coronavirus pandemic. Yes it is a pandemic despite WHOs caution. How you manage the risks to your business will have limitations but where you can control the risks you must start implement your business continuity plan now not when when a full blown pandemic is sweeping across the world.
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Adversity is the mother of invention. Adversity and success have a close working relationship. However it does not have to be your business that suffers the business adversity. A strong business has a developed and tested business continuity plan BCP. The BCP will not only help you to maintain your business to survive adversity but it will help you identify ways to bring forward business improvements or seize new business opportunities.
Necessity is the mother of invention. If you have to find a new solution for your business you will find it. Human beings are very clever. Much more intelligent than we realise. However adversity can unveil otherwise hidden abilities to do things better than before adversity hit.
Entrepreneurs and business leaders who overcome adversity
Top entrepreneurs and business leaders quickly identify and exploit opportunities from adversity. The adversity suffered maybe that of your competitors rather than your own business.
Sometimes benefiting from adversity comes from increased demand. Private jet hire cannot cope with current demand due to the coronavirus or Covid19. Thousands of people have died and many tens of thousands have been infected most in China. Commercial airlines like British Airways stopped flying into or out of China due to coronavirus outbreak. Many cannot or do not want to book a flight out of China. Many do not want to fly anywhere with other people they do not know. The result for private jet hire companies is more demand than they can supply. This will boost private jet hire revenue and profit.
The opportunity to grow from adversity is mainly about the change of demand potentially with a reduction in supply. Sometimes profiting from adversity just comes from a reduction in supply. The collapse of a business in your industry may mean you then have the opportunity to sell more and sell more profitably. Thomas Cook holiday and travel business collapsed in September 2019. Many people lost their jobs but many were subsequently taken on by Hays Travel who massively expanded their business within just a few months. TUI travel business had its best month in January 2020. Other holiday and travel related businesses have massively grown on the back of the collapse of Thomas Cook.
The key is to protect your business with a business continuity plan and to be dynamic enough to be prepared to capitalise on potential shifts for demand for your type of business. This includes being very clear on where you want your business to be in x years time and how you could get there. If you know where you are going you can perhaps more easily bring forward your business development plans in the event of a significant risk event not affecting your business directly.
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How can business leaders protect their business better
BusinessRiskTV business protection guide for business protection tips advice and support. Protect a business from the effects of financial and non financial risks. Reduce the total cost of risk. Network with top business protection leaders locally and globally to protect your business better.
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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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How do leaders manage uncertainty in business better
Managing uncertainty is a daily business dilemma. Business leaders have internal and external risk factors driving uncertainty in business. Often this uncertainty can lead to poorer business performance or even catastrophic business failure.
We are developing a business risk management hub to help inform your leadership team. Reduce the impact of uncertainty on your business success.
Various risk management identification tools and techniques will bring emerging risks to your attention
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Leaders can manage uncertainty in various ways. Some bury their head in sand. Others adopt a belts and braces approach to risk control incurring imbalanced costs to benefits.
We can not guarantee you greater business success. We can help inform your business decision making process. You will be more likely to make better business decisions.
When facing doubts or uncertainty many business leaders turn to their gut instinct. Rolling the dice may turn up the result you are aiming for. This may work for you. However better risk management information may enable you to choose a different path. Or it may over procrastination to drive forward growth with more confidence. Not making a decision can be as bad as instinctively shooting off blindly.
Dealing with uncertainty better can help you navigate around pitfalls your competitors fall into. Help guide your business to greater success with less uncertainty. Manage uncertainty more cost effectively.
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Learn more disciplined risk based approach to business decision making. Doesn’t mean a less innovate or creative business. Does mean readying your business to take advantage of opportunities.
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Improving Small Business Performance and Sustainability
Developing skills for business leadership. Small business leadership development. Sharpen the saw! Small business leadership training with BusinessRiskTV. Developing your skills will prove helpful in a rapidly changing business environment.
Helping small business leaders to grow faster with less uncertainty. Learn how to grow your small business. Find out how to promote your business more profitably. Develop skills to take your business to the next level.
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Do you feel your management skills are maximising the return on your investment of time and money? No? Maybe you need a little help for free to brush-up the way you are doing things to boost your business performance and increase your business sustainability?
Take your business forward with the help of your most valuable assets – your employees by squeezing every last penny out of them without alienating them!
Overcoming Coronavirus Business Impact With BusinessRiskTV
You may have already built a successful business. Or you want to start your own new business. Kicking on is not easy. Would you welcome some free help to make better business decisions?
Business leaders should never stop learning how to work better with their employees to find a way to achieve business and personals goals.
Small business owners and managers could improve the leadership and management skills with BusinessRiskTV. You may well be brilliant at what you do, but how can you inspire and encourage those who work for you to be brilliant too?
Get help to motivate your employees to be more creative and more risk aware. Let them see how this will benefit them personally as well as the business. Your business success may will depend on how inclusive your business culture is.
Learn how to work better with key business assets to improve return on your investment of time and energy. Build a better team by improving your leadership capability.
BusinessRiskTV hosts leadership skills development events online for free to help entrepreneurs improve what they know and implement knowledge more practically.
What Business Leaders Need to Know Today: Keys to Effective Leadership and Essential Skills
In today’s rapidly evolving business landscape, successful leaders must possess a unique set of skills and knowledge to navigate the complexities and challenges they face. This article explores the essential skills that business leaders need to cultivate and the keys to being an effective leader in the current business environment. Additionally, we will highlight the valuable resources available on BusinessRiskTV.com to assist business leaders in their quest for excellence.
I. Adaptability and Agility: One of the primary skills business leaders need today is adaptability. The ability to respond to change quickly and effectively is crucial in a dynamic market. Leaders should be open to new ideas, embrace innovation, and encourage their teams to think creatively. BusinessRiskTV.com offers insightful articles and resources on change management, strategic planning, and organisational agility, providing leaders with valuable insights into adapting their businesses to thrive in an ever-changing environment.
II. Emotional Intelligence and Relationship Building: Emotional intelligence (EI) is another vital skill for leaders in today’s business world. Leaders must have the ability to understand and manage their own emotions while also empathising with their employees, clients, and stakeholders. Building strong relationships and fostering a positive work culture is essential for long-term success. BusinessRiskTV.com offers resources on leadership development, communication strategies, and employee engagement, empowering leaders to enhance their emotional intelligence and create meaningful connections within their organisations.
III. Strategic Thinking and Decision-Making: Business leaders must possess excellent strategic thinking and decision-making skills. They need to have a clear vision for their organisation and be able to develop and execute effective strategies to achieve their goals. Moreover, leaders must make informed decisions based on data and market insights. BusinessRiskTV.com provides valuable resources on strategic planning, risk management, and market analysis, equipping leaders with the knowledge and tools needed to make strategic decisions with confidence.
IV. Resilience and Risk Management: In today’s uncertain business landscape, leaders must be resilient and adept at managing risks. They should anticipate potential challenges, develop contingency plans, and lead their teams through difficult times. BusinessRiskTV.com offers a wealth of resources on risk management, crisis leadership, and resilience strategies, enabling leaders to proactively identify and mitigate risks, ensuring the continuity and long-term success of their organisations.
V. Continuous Learning and Innovation: Successful business leaders recognise the importance of continuous learning and innovation. They actively seek opportunities to expand their knowledge and skills, staying updated on industry trends, emerging technologies, and best practices. BusinessRiskTV.com provides a platform for leaders to access industry-specific insights, thought leadership articles, and expert opinions, fostering a culture of continuous learning and innovation within their organisations.
VI. Effective Communication and Team Management: Leadership is about effectively communicating goals, expectations, and feedback to team members. Business leaders must be skilled communicators who can inspire and motivate their teams, fostering collaboration and achieving optimal performance. BusinessRiskTV.com offers resources on effective communication techniques, team management strategies, and leadership development programs, equipping leaders with the necessary skills to lead and manage diverse teams successfully.
VII. Ethical Leadership and Corporate Social Responsibility: In today’s business environment, ethical leadership and corporate social responsibility (CSR) are crucial for building trust and maintaining a positive reputation. Business leaders should prioritise ethical decision-making, accountability, and sustainability. BusinessRiskTV.com provides resources on ethical leadership, CSR strategies, and sustainable business practices, guiding leaders in creating a purpose-driven organisation that contributes positively to society and the environment.
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Business leaders of today face unique challenges and opportunities in a rapidly evolving business landscape. By cultivating essential skills such as adaptability, emotional intelligence, strategic thinking, and resilience, leaders can navigate these challenges successfully. The keys to effective leadership lie in continuous learning, effective communication, and ethical decision-making. BusinessRiskTV.com serves as a valuable resource hub, offering insights and tools that empower leaders to enhance their skills, make informed decisions, and drive their organisations towards long-term success in a rapidly changing world.
Develop your business leadership skills with BusinessRiskTV
The importance of leadership in business is either underestimated or played down. Your team or business functions will operate in line with the inspiration you create or fail to create. Zombie businesses can survive in most business climates, but few will thrive in the business marketplace without good leadership, either from the top, or from middle managers who pick up the baton where the actual leaders have dropped it.
Innovative Leadership In Business
Leaders are needed at all levels of the business
However a great business needs a great visionary. Most visionary’s are made not born. That’s the good news! The bad news is that few business leaders seek to create a vision for their business that everyone else can buy into.
Whats worse is that few businesses invest sufficiently in developing future business leaders
There are many reasons for this. For some businesses, existing business leaders fear training those below them in case they walk away from the business to competitors or to become a new competitor business.
One way to overcome this fear is to share the rewards developing leaders bring to the business and not be too greedy over short term spoils of new business generated and instead look to the long term benefit of fairly rewarding key business team members.
All hugely successful organisations and businesses need effective leaders
To become a great business leader requires much more than technical business skills that say accountants and lawyers may have. Great business leaders have bundles of emotional intelligence to bring in everybody into improve business performance not just the Board.
Top business leaders are not always brilliant business managers. You can be an amazing business manager, but may never be a business leader. Often great business leaders are not in management positions. Their talent is wasted cause they never get into a position to fully express themselves for the benefit of the business as a whole and themselves.
How do you find the business leaders in your business and bring business leaders together to focus on sustainable business growth?
Enterprise risk management methodology will help in this regard. Many SMEs and large businesses can benefit from developing the leaders who will guide us to a better future.
A look at the business news headlines in most week’s will reveal examples of bad business leadership. W need to help educate business leaders better to reduce frequency of bad business events and increase the occurrence and size of business successes. How we get there does not matter too much, but too often we don’t.
Find ways to grow faster and protect your business better
Make better decisions today. Overcome tough decision-making issues faster. Make your team follow you. Lead by example but make sure everyone in your team is engaged you yours and their future.