Tag: financialrisks

52 Risks in the News: Risk Management Guide for Directors

The 52 Risks® framework has been featured in the Governance Institute of Australia’s Risk Management For Directors: A Guide, released this month. The guide is plain English, no-nonsense guide to risk management for directors.

The guide provides practical advice boards can adopt to manage risk and includes sections on risk governance, the regulatory environment, risk management processes and tools, risk culture and topical non-financial and emerging risks.

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Risk Management Guide for Start Up and Tech Companies

Start-up ventures face unique business challenges. They are, by their nature, smaller enterprises without the established management or financial resources of larger, established businesses. Most start-up ventures today are almost 100% technology firms, with business models built around software and technology-driven operational processes.

For start-ups and tech firms, 52 Risks® provides a starting list of high-level risk categories to consider. This can be used in the design stage or in the early pilot / start-up phases. The 52 Risks® framework can also be used as a business expands and grows with more customers, new geographic areas and new products and customer segments.

52 Risks® assist founders and business leaders – that may not have access to specialized risk management expertise – better understand their risks.

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22 Ways the 52 Risks® Framework Can Build a Stronger Business in 2022

There is little doubt that challenges will face all businesses in 2022.
The 52 Risks® framework can be used to assist business owners, executives and risk managers gain a deeper understanding of the risks that any business may face. This will enable growth and stronger, more reliant businesses.
Below are 22 ways in which the 52 Risks® framework can facilitate the discussion and oversight of risk in any business.

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Risk Management Article: Stress Rehearsal

Scenario planning and stress testing are two tools that directors and executives should be regularly using to support and guide their decision-making process.

52 Risks Creator and Founder, Peter Deans, recently published an article titled “Stress Rehearsal” for the Australian Institute of Company Directors magazine on the use of scenario planning and stress testing.  The article discusses how these tool can assist assess the risks and opportunities arising from climate change and other emerging risks

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Introduction to the 52 Risks® Framework

52 Risks® is a unique, innovative framework designed to assist organizations identify, assess and manage their business risks. 52 Risks® proposes a common language and terminology for business risks in a consistent manner. It is an enterprise risk management 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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Doing a Risk Management Stocktake

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.

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Pandemics: The Convergence of Business Disruption & Economic Slowdown

Pandemics (or near pandemics) are infrequent occurrences and appear to have varied in their nature and impact. The longer-term impact from the supply chain disruptions, any economic slowdown, and financial markets dislocation is often unclear. There should be three distinct areas of focus and consideration by business owners and managers in such a period of disruption and uncertainty.

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