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Whether you accept avoid transfer mitigate risks or exploit risk opportunities is not straight forward. Find new ways to improve the culture of risk management to boost business performance. Increase your business success.
How do you manage risks?
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What risks should you take and which should you not tolerate?
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Manage Risks Better
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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Taking the right steps to manage risks will boost your business performance with less uncertainty.
Build your business resilience
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There is always room for improvement. Better risk management will mean your business is better prepared for the future. Improve performance regardless of business environment.
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Being in business can be tough. Strong businesses develop a positive risk management thinking strategy. Find the best in any business environment.
Stop looking for things and people to blame for your poor business performance. Research the risks impacting upon your business objectives. Lessen uncertainty. Create positive change in your business.
Learn how to allow and plan for the unexpected. Embrace all risks in business.
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Proactive Risk Based Approach To Business Management
Proactively develop your own risk awareness impacting on your business objectives. Embrace the changing business environment and internal risk factors. Get really good at manage enterprise risks to set clearer path to success.
Take control of your future.
Change what you do to achieve more with less uncertainty.
Embrace all your responsibilities and behave responsibly.
Make things happen for your business.
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Strong businesses adopt a proactive risk management approach with clear risk management strategy for success. Develop a more stable business with better relationships with all business stakeholders. Be prepared to take on best business opportunities.
What do you want your business to achieve and what are you doing to make sure you are successful?
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What risks are you controlling? What enterprise risks should you not control? Manage the risks you can realistically influence the likelihood of and impact on business objectives should the risk materialise.
Strong businesses assess the risks then implement a well thought out risk management plan. Take some time to analyse different options and identifiable consequences on your business objectives but do not procrastinate. Take risk based business intelligent decisions quicker with more confidence.
Dream Bigger And Implement A New Reality For Your Business
Do not bury your head in the sand or fail to take calculated risks to improve your business performance. Be better prepared to aim higher with stronger business resilience to overcome obstacles. Focus your limited resources on more achievable business goals. Take risks with more confidence. We are not advocating recklessness. Be responsible and consciously embrace the unexpected.
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Just because your industry or business sector or country is under the cosh does not mean your business needs to suffer too.
Grow faster despite the adversity you face in business.
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Overcome obstacles in the way of your business.
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Create a more proactive flexible reactive strategy to adjust your business to navigate all possibilities. Think and plan bigger!
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Reduce the impact of the business environment on your business objectives. Take control of the things you can control. Focus your business assets on positive risk management. Invest in business improvement. Learn from other business leaders mistakes. Stop trying to reinvent the wheel and apply best business practices to your business developed by others.
Review your past but more importantly plan for a better future for your business. Even if your past business performance has been great could you do better?
Collaborate to achieve more together
Whilst we work in a highly competitive marketplace we do not need to fight with everybody for new business! Strengthen your relationship with like minded business leaders around the world to grow your business faster.
Have the courage to reach out to others who could help you whilst you help them.
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Accept that others need to make a profit too.
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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.
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What has worked in the past will probably work quite well in future, but we are thinking differently to find ways that will work better for business. Thinking differently about business threats and opportunities to build resilience and greater success.
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Our showcasing of your products or services will demonstrate why your competitors customers should buy from you. Pull in new customers to your business more profitably. Land more notice of what your business has to offer.
Do this differently
Formula 1 teams with smaller budgets have to fight for every last point by thinking and acting differently from their bigger competitors. You need to grab the attention of new customers in a different way from competitors unless you have unlimited advertising and marketing budget.
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What makes your business unique?
If your business is unique then great, but for many businesses this simply isn’t true. However if potential buyers don’t know what you’re offering then they will buy from your competitors instead. You’ve lost the sales not because your inferior but because you weren’t even in the running.
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Assuming you are managing enterprise risks well can be dangerous
You might be taking too much risk unknowingly but you might also be taking too little risk and failing to make the best use of your business assets.
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How confident are you that you are managing enterprise risks cost effectively?
What are the hidden costs of your failure to manage risk properly
Missed opportunities cost
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Can you demonstrate to your business stakeholders that significant enterprise-wide risks are being effectively managed? Have you a balanced risk -reward risk management plan that prioritises the allocation of resources for best potential effect on business objectives? When was the last time you reviewed your enterprise risk management plan?
Controlling the risks in the workplace is not just about safety and business insurance. Your business must control enterprise wide risks. What is the aggregate effect of risk on your business objectives? Do you understand the threats to objectives and the opportunities you have in front of you?
Find out how enterprise risk management can help you monitor your overall business’s performance
Identify and manage both external risk drivers and internal risk drivers impacting on your business success.
Do you have confidence your business is ready for emerging risks?
We are only at the beginning of the 4th Industrial Revolution. Many jobs are going to disappear. Many jobs are going to change. Businesses that don’t change to reflect emerging risks will not survive the rapid changes that have started but will accelerate over next few years.
Maximising business opportunities for growth
There is a yin and yang to all threats and opportunities.
Every threat comes with an opportunity to change for the better.
Every opportunity comes with a threat that the new will destroy existing value.
Business decision makers have tougher choices now than many recent business leaders have faced and many choices may threaten survival if you choose badly. Making good choices could also drive your business forward much faster than recently possible due to the financial crisis of 2008 and recovery therefrom.
Have you identified and assessed your enterprise-wide risks?
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Give your managers more confidence in your company to prperly assessing all the signiciant business risks to your organisation.
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There is a growing skills shortage in the UK. A skills shortage can threatening your current turnover levels or restrict potential business growth in 2018 and beyond.
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UK Business Leaders must seize the opportunities which will flow from Brexit if they are to survive and prosper. Even incremental gains in existing business practices can help secure a more resilient future.
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If not how are you going to identify it? If you do how are you going to capitalise on it?
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Key To Faster Business Growth
If you do not grow you may not survive
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Business leaders collaborating online to grow business faster with more certainty
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Sell more to people and businesses on your doorstep and dip your toe into the export marketplace on the back of a low value pound which could be making your products and services more than 10 percent cheaper abroad.
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