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risk management Tagged Articles



The Rusty Nail
We all hit rusty nails in life and business. How do we avoid them? What is the best protection against them? And how do you respond when you hit them anyway? Your answer to this last question can be life or death and success or failure.
The Toyota lesson, risk management and your business plan
Small business owners need to pay attention to the disastrous decision of Toyota to ask its suppliers to cut cost by 30% over the next three years. Most probably this is the reason for the acceleration nightmare issue surrounding many Toyota vehicles right now. Small entrepreneurs should learn from this and make a decision on their business ethics and management principles while writing or re-visiting their business plans. What is your standpoint on cost cutting – especially essential expenses? Be careful, as your attitude towards this important issue might result in great success or huge losses… or even failure!
Your business plan should indicate your risk appetite
It is important to determine your risk tolerance while busy writing your business plan. It will establish your attitude towards profit erosion and tell investors if you are serious to protect the profit that you will generate by pursuing your business opportunities. By establishing your risk appetite, you will also know to which extent you should and are willing to protect your profits. As a result, you will also profit from your business risks!
Why Managing Waste is So Crucial in Your Biz
Waste not only leads to the loss of resources, but it also leads to the loss of customer trustworthiness. That is why one of the main focuses of any business should be to increase efficiency, while reducing waste. Here are some "efficient" tips.
2011...New Consumers, New Markets, New Economy Take Hold
Finally it appears as though we're looking out of the tunnel. We can see light -- a lot of optimistic light -- rather than extended gloom. The economy won't be completely behind us but things are looking like they are going to slowly improve. There are still potholes on the road to recovery and prosperity. Fortunately they aren't in the market areas we focus on. Where do we see things improving and how quickly? Take a look for yourself.

A "Weak" Consumer With Confidence!
When the strong Consumer Confidence numbers came out today,  it begged the question:  Do we really want consumers too confident?

What’s In A Name? Everything! (Canadian Institute for Procurement and Materiel Management Profile)
Moving out of the shadows of adjunct functionality within the modern enterprise to a position of operational prominence and relevancy, at no other time has purchasing been viewed in the light of its own merits and overall impact on the individual organization and society as a whole.
The Importance of Directors
This article focuses on the importance of directors in closely-held companies. It discusses the factors that should be considered in selecting a director. The article explains how effective directors can help the management team.
The Evolution of HR Audits
Over the last 25 years we have seen significant changes in the HR auditing process, in the value derived from conducting HR audits, and in the HR audit tools used. Increasingly HR audits are conducted of HR rather than by HR. This white paper reviews the changes in HR audits, discusses the external and internal forces affecting the process and use of HR audits, and provides information about the leading HR auditing process.

CPA INCOME RISK MANAGEMENT
A very basic but practical way of looking into risk management in terms of quantity of clients. This could be a way to a new added-value consulting service as well for your accounting practice...

A Managers Guide to Easy Project Management (EZA 24/10)
For a manager to develop, organize and motivate their employees is pretty much the most important job they have, to ensure progress and profit. Everyone in the team needs to really comprehend their role and how it sits in the bigger picture. So, in bigger activities, project management is vital for a successful outcome. Here are some first steps...
Risk Management for Law Firms
Have you planned an exit strategy for you?
Risk Management for Sales People
Tips and strategies on allowing yourself to take certain risks in order to improve your success.
VII C Regional Integration :PROMOTING STOCK MARKET DEVELOPMENT IN AFRICA
Another proposed solution to problems faced by African stock markets is to integrate stock exchanges.
Managing Foreign Exchange Risk: The Search for an Innovation to Lower Costs to Poor People
There is currently much debate over whether commercial investments in microfinance pass foreign exchange risk exposure to poor clients through high interest rates - i.e., whether foreign investment in microfinance is expensive for poor people. But what makes foreign currency exposure such a problem?
Proactive risk management & compliance
Compliance and risk professionals spend a lot of their time demonstrating their businesses meet regulatory requirements through reviews, completing checklists and compiling reports. In today's world there is a need for professionals to spend more time focusing on preparing their businesses against unknown risks - or black swan events. To achieve this the regulatory compliance aspect of their roles needs to be simpler and more automated. This article describes one such way of achieving this.

CFO vs. Controller: Understanding the Differences
There are two primary types of financial leadership within top organizations: the CFO and the Controller. Many growing organizations do not have a clear understanding of the two positions, often overlooking the value that a CFO could bring to their business. To determine what level of financial leadership an organization requires, a Controller and/or CFO, it is first important to decipher the differences between the two roles.
PROGRAM MANAGEMENT PLANNING
Effective and efficient management of a contract is critical to its success. In addition, management methodology should be based on a clear understanding of the client’s requirements and past experience. Proactive management, direction, control, and motivation of project personnel are the cornerstones of successful management plans.
MANAGING RISK
A risk management approach should continuously monitor risk through activities such as identifying, analyzing, mitigation planning, tracking, and controlling risks. Additionally, risk management programs balance the cost of risk occurrences with the cost of mitigation activities by prioritizing risks and the activities to mitigate risks.

Other risk management Related Articles

People and Risk
A risky business … Business is risky; the less static the more risk, thus the more successful the business the more risk in must embrace and benefit from. In this article, Lisette Howlett shares her thoughts and experiences in the area of risk and people. Without people you have less risk; but you also have no business. Risk is unavoidable but not insurmountable. Indeed taking your people risk seriously will improve your business; the successful management of risk has a positive impact on business success.

MANAGING RISK
A risk management approach should continuously monitor risk through activities such as identifying, analyzing, mitigation planning, tracking, and controlling risks. Additionally, risk management programs balance the cost of risk occurrences with the cost of mitigation activities by prioritizing risks and the activities to mitigate risks.

The Importance of Risk Management for Business Owners
The most successful business owners have an innate understanding of risk and how to manage it. This article evaluates four different businesses in the context of risk to draw lessons about effective risk management.
How to manage risk (but don’t stifle innovation)
Mining is a capital intensive industry and a lot of money is spent to reduce the risk of making wrong decisions on investments and to reduce the risk of investments not delivering what was promised to shareholders. The same principle applies to any sized business. Every business wants to make the right investment decision and increase the likelihood of the business of delivering what is expected. When evaluating a new business good risk management tools and techniques can assist the decision making process and increase the likelihood of business success.
Challenging the Integrity of your Supply Chain: The Weak Links of Hidden Risks (Katzscan Profile)
“In the fall of 2004, the Committee of Sponsoring Organizations of the Treadway Commission, known as COSO, released their Enterprise Risk Management – Integrated Framework, which was authored by PricewaterhouseCoopers. This principles-based framework provides direction and criteria for improving an organization’s ability to manage risk.
Fail Your Way to Success
The selling profession is not generally considered a high-risk profession, yet salespeople face big risks every time they speak to customers and prospects. What do they risk? They risk uncovering the truth. They risk finding out their best customer has just changed the rules of doing business. They risk discovering the prospect with whom they have invested so much time doesn't really qualify as a prospect at all.

The Irony of “Risk” in the Markets
Right now in the markets, there are essentially 2 trades: risk-taking and risk-averting. The risk-taking trade can be summarized as US dollar and Japanese yen down, bonds down, everything else up. Risk-averting is just the opposite. Oh sure, you get the occasional stock that goes down because of blatant corporate mismanagement, but overall stocks will go up if the dollar declines.
Project Planning and Risk Assessment
This article will describe two central issues in project management. Successful projects are built on good plans: unsuccessful ones are often caused by faulty plans. The ability to visualize risk factors and react appropriately is the basis for triumphant success, like the first manned lunar landing, or colossal failure like 9/11. This article looks under the hood of the planning and risk management processes.

Change Management Best Practices
Organizational change provides the opportunity for organizations to build more focused, disciplined, and mature businesses. This opportunity comes with significant financial risk if changes are not planned and managed proactively. Change management is primarily concerned with how to understand, engage, respond, and communicate with PEOPLE. A solid vision, senior management sponsorship, and having the right people in the right roles, are the key success factors for implementing a successful change management campaign. Use our Change Management Readiness Assessment to measure your readiness for a major organizational change.

How to Make a Decision That Sticks Rather Than Gets You Stuck
One of the most frustrating experiences we can all face is how to make effective decisions especially when you feel there is a lot of risk at stake. You wonder how much risk you should take on without putting yourself out on a limb or how much risk you share without looking like you are trying to pass accountability or be too cautious.

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