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How can we innovate so that our businesses return great profits AND contribute to our society at the same time?

Other risk opportunity 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.

Lesson #1: Plan for the Worst to Reduce the Risk of Risk
Entrepreneurs, by definition, are risk-takers, people willing to strike out on their own in order to seize an opportunity and make a profit. But, for Li Ka-shing, the richest man of Chinese descent, risk should not be a part of the equation. Li is a self-proclaimed risk-averse entrepreneur and goes to any and all lengths to reduce the risks inherent in his actions. It was in planning for the worst case scenario and learning to expect the unexpected that Li managed to succeed where others before him had not.
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.
Entrepreneurship Part 1
The entrepreneur is the key person to the successful development of any business. He/she is the person who perceives the market opportunity and then has the motivation, drive and ability to mobilise him/herself to meet the requirements. Innovative skills – Not an “inventor” in the traditional sense but one who is able to carve out a new niche in the market place, often invisible to others.Professional risk-taker. To succeed means taking measured risks. Often the successful entrepreneur exhibits a step-by-step approach to risk-taking, at each stage exposing him/herself to only a limited, measured amount of personal risk and moving from one stage to the next.
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.
The Franchise Question
The question of whether or not to purchase a franchise plagues many new and established entrepreneurs. For some it seems like an east indoctrination to the world of being your own boss. For others, it appears as an opportunity to get in on a good thing without the risk of being an owner/operator and putting other business ventures at risk.
Risk Assessment & Analysis Techniques
Risk assessment is an area of concern for all senior executives, but many mid-sized enterprises do not have the skills, processes, or tools to effectively mitigate risks. Instead of reactively ‘fire-fighting’ and dealing with issues as they arise, consider adding simple risk assessment & analysis exercises to your project planning process. Download & customize Demand Metric’s Risk Assessment Tool, Risk Mitigation Checklist, and Risk Analysis (Fishbone) Tool, and add to your skills arsenal.
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.

Risk Taking - Is It Wise?
When is the right time to take a risk? How can I best evaluate when a risk is worth taking? Iris Barrow provides practical tips and suggestions on how to work out whether taking a risk is sensible or foolhardy.
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