Business owners, boards and managers should ensure that they have a detailed understanding all the risks their business faces. This should include all strategic, financial, and operational risks. This understanding should be underpinned by a rigorous and documented risk identification, assessment, and management regime.
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Getting started in risk management can be daunting for any business, irrespective of size or industry. This post outlines 23 ways for getting started in managing risk better in 2023 using the 52 Risks® framework.
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It is important for business leaders to make time to take stock of the risks in their business and how they manage them. Running a business can often take precedence over taking a broader and more considered view of the risks facing a business. Distractions can take the form of putting out spot fires, negotiating contracts, managing personnel matters, resolving issues with customers or dealing with major initiatives and projects.
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Often the cut and thrust of daily business life gets in the way of sitting back and taking stock of risks in a business. Distractions can take the form of putting out spot fires, negotiating contracts, resolving issues with customers, dealing with projects, or managing personnel matters.
Taking stock of the overall risk profile of an organization, assessing how effective existing risk management strategies are, and considering new or emerging risks often never takes place.
Business leaders should carve out time periodically to take stock of the risks in their business and look at how they manage them.
Getting started in risk management or uplifting existing capability can be daunting for any business, irrespective of size or industry. This post outlines six steps for improving the management of risk using the 52 Risks® framework.
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The 52 Risks® framework has a multitude of uses. It can be used to assist business owners, executives and risk managers gain a deeper understanding of the risks that any business may face. Here are 21 ideas than can re-energise the discussion and oversight of risk in any business:
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In both normal times and uncertain times, policies and procedures seek to give all employees support in the carriage of business activities. The current COVID-19/coronavirus social and economic crisis is, however, putting to the test existing, proven and robust policies and procures in all organisations
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Enterprise Risk Management (ERM) within organizations continues to be work in progress. More and more organizations are embedding tools and risk management techniques each year.
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52 Risks® is a unique, innovative framework designed to assist organizations identify, assess and manage their business risks. It proposes a common language and terminology for business risks in a consistent manner. The framework comprises 17 Strategic Risks, 16 Financial Risks and 19 Operational Risks. All potential business risks will map to one of these risk categories.
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Innovation is, in essence, a risk-taking activity.
Creating new products, new combinations of old and new technologies, and new technologies is exciting, exhilarating and challenging.
All industries have different timeframes for…https://lnkd.in/gNs2RHah https://lnkd.in/gQJxTs4s
Corporate collapses - particularly financial services ones - are complex and messy. The post-mortems can take months if not years.
The collapse of Silicon Valley Bank is however looking somewhat simpler the more we learn. Poor man…https://lnkd.in/gTfTMtYg https://lnkd.in/gQmeUgnb
12 very insightful charts. A challenging few years of unwinding zero interest rates ahead. #economics #SiliconValleyBank
