Risk Management, The 10 threats to your business

By Mark Hamon, Risk Management Training and Safety Consultant Sydney. It’s the start of 2016 and we all face another year of business challenges ahead, you only have to read the news media stories on the stress and pressure faced by many business in these uncertain times. Risk impacts on our businesses every day including:
  1. Litigation risk
  2. Emergencies or disasters
  3. Financial loss
  4. Errors, wastage or poor quality with products or services
  5. Loss of reputation in the market / customer perception
  6. Workplace accidents or incidents
  7. Crime and security issues
  8. Environmental issues
  9. Damage to equipment or resources
  10. Cyber threat
A business manager should carry out an overarching risk assessment of their entire operation, so all areas of their business have been risk assessed with controls in place. Risk will never be 100% totally eliminated, but should be reduced as low as reasonably possible to an acceptable level by all key stakeholders involved. By incorporating an integrated risk management plan (ISO31000) into your business, you will reduce the chance of an unexpected or unplanned risk event from impacting on your business. A good integrated risk management plan benchmarked against the latest standards in global excellence will help you reduce risk across all areas of your business operations. By consulting Mark Hamon, the Risk Management Specialist from KONA Group, an evaluation of your business can best determine where to focus on actions for improvement.  A business risk gap analysis will show you the risk exposure your business faces and the controls you need for peace of mind.