[VIDEO] How To Handle Risk In Your Business

Business Growth Driver #6: Risk Management

An often neglected but very important area that impacts the growth of emerging businesses is risk management. Risk management remains a non-priority until disaster strikes or a big opportunity is missed. Sustainability of a business depends heavily on how well possible risks are managed.

Entrepreneurs who have realized the importance of enterprise-wide risk management have set up a strong corporate governance (CG) structure and used technology heavily to mitigate risks. As a result, they have been able to increase their readiness to manage risks and improved their credibility in the eyes of investors/lenders. 50% of companies that have set up a strong corporate governance structure have managed to attract external investors vis-à-vis ~10% of the companies that have not.

Technology can help mitigate risks

All the companies that are confident of their readiness to mitigate risks have heavily invested in technology to manage risks and focus more on teamwork according to a recent EY report.

In this video we look at:
1. How to set up a strong corporate governance framework.
2. How to identify risks to your business.
3. How technology can mitigate risk

What business risk are you going to address?

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#Risk #Manangement #Technology #BusinessGrowth

Here are the links to all the 7 Business Growth Drivers:

Business Growth Driver #1: Be customer centric

Business Growth Driver #2: Leadership

Business Growth Driver #3: Employee Engagement

Business Growth Driver #4: Segregate core and non-core business activities

Business Growth Driver #5: Finance

Business Growth Driver #6: Risk Management

Business Growth Driver #7: Technology

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