July 2022
Risk management gets a bad rap as an unloved and costly chore, especially for small to medium-sized businesses (SMBs). In our ever-volatile world, it has become a crucial player in business success, or an easy number to reduce when budgets are tight.
Small risks deserve small attention, while the big one’s demand focus. Overreacting to minor issues wastes resources, while ignoring serious dangers can break a company both financially and reputation wise.
The Key?
Conducting proper risk assessments and implementing proportional controls tailored to each risk’s magnitude.
Experienced risk managers prepare for severe and reasonable scenarios, while tolerating limited risk. Proportionate risk management reduces the inefficiencies that can arise from either too much control or too little control.
Risk management and performance are inseparable. For SMBs, growth brings risks, but also opportunities. With the right risk assessment, testing and monitoring tactics, your SMB can navigate complexity, survive shocks, be resilient and achieve remarkable growth.
Whether you’re a startup, a small business, not-for-profit or a global player, smart risk management is a footprint on your path to success.
Contact Core Business Intelligence for your FREE risk assessment.
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