This article is the second of fourteen parts to our risk management series. The series will be taking a look at the risk management guidelines under the ISO 31000 Standard to help you better understand them and how they relate to your own risk management activities. In doing so we’ll be walking through the core aspects of the Standard and giving you practical guidance on how to implement it. Continue reading
This article is the first in our risk management series. The series will be taking a look at the risk management guidelines under the ISO 31000 Standard to help you better understand them and how they relate to your own risk management activities. In doing so we’ll be walking through the core aspects of the Standard and giving you practical guidance on how to implement it. Continue reading
Risks, like tsunamis, start as ripples far away; as they approach us they gather momentum, speed and force. A tsunami making land and causing devastation is a horrific reality; how well you monitor the ripples will decide your emergency plans.
Risk velocity is a relatively new concept within the risk management scene. It strays away from traditional “two-dimensional” risk management practices and offers an extra dimension for consideration: the speed at which risk impacts an organisation. Continue reading
Reacting to potential product risks and consumer safety can take many paths, knowing which one to follow relies on good systems and great decisions.
Consider the following scenario, you pride yourself on the quality of product you produce and sell; then one day you experience a large increase in consumer complaints, your social media accounts are under siege with angry followers, and you have a product in the market that is impacting your reputation and revenue. What you do next will define your company for years to come. Continue reading
Risk management, as a practice and set of principles, has been utilised since the 1940’s; 70 years after its introduction what has been accomplished?
History of Risk
Historically risk was the product of the insurance industry to assess financial risks of the businesses they insured. As a sustainable practice it is best to know if your insured will cause financial ruin for your or make a significant negative effect on your profits. Risk was seen as a negative influence on business and should be eliminated. Risk was the practice used by business owners and boards. Continue reading