Yes, you read it right. Who would dare to welcome “Risk” into their lives in the New Year.....other than the bravest, most prepared and proactive businesses. We present you three low cost risk management strategies that you can adopt during the new year to realise significant short term and long term values. These will better equip your firms to face uncertainties. 1. Get your employees trained on Risk Management – The world is talking about Risk management. The least expensive and most effective approach to managing risk is to get key employees trained on the concepts of risk management and the frameworks used. This knowledge indirectly translates into better risk decision and managing risks. Our “One day Enterprise Risk Management and ISO 31000 program” would be a good option. 2. “Dip Stick Review” – Diagnostic reviews – While the best practices take time to implement and are costly projects, every company should atleast know the extent of gaps in the risk management systems. What is the level of maturity of risk within the company. Riskpro can carry out a 1-2 days diagnostic review of your organisation without any fee. 3. Allocate a budget for risk management and undertake important risk management projects – Reputation Risk Management, Compliance management tools, Developing Risk Registers and improving Risk Dashboards are some of the ways risk management frameworks can be improved. Although recession might be an excuse, we believe that these low cost high impact tools/techniques are likely to help you ride through the recession better with reduced uncertainties. ________________________ Manoj Jain Director - Riskpro India Ventures Private Limited M +91-98337 67114 |E manoj.jain@riskpro.in | W www.riskpro.in