Post by account_disabled on Mar 6, 2024 1:19:36 GMT -5
The of the company Are we liable to losses either from abusescams or from human error What natural disasters are possible in our location Would the loss of a key employee cause serious problems Advertisement Financial Risk What if our biggest client went bust and couldnt pay its latest bill Do we have a high debt load How much of it is at variable rates What if the interest rate on our loans increased dramatically Could we still pay Are we doing business internationally or planning to How vulnerable are we to changes in exchange rates How much money do our clients owe us and what would happen if many of them were late paying Reputational Risk What would happen if we got a negative review from a very influential magazine or website.
What if one of our key employees became involved in a scandal Is there a chance of a major lawsuit against us from customers or other Job Function Email List businesses Do we have any effective ways of gauging public sentiment Do we have PR people or other staff who are capable of managing a crisis How would our business be affected by a mass of bad reviews or negative comments on social media Put It Together Asking these questions and more should help you identify some specific risks that your business is subject to. List those risks in simple point.
For example your list might include Key client XYZ Corp is late paying its invoice. Loss of power for more than 24 hours. Our Chief Operating Officer Janet leaves the company. A new competitor undercuts the price of our main product. Scathing product review from an influential magazinewebsite. Advertisement 2. Estimate the Likelihood For each risk youve identified ask yourself how likely it is to happen. Youre dealing with lots of unknown factors here of course so theres no need to strive for scientific accuracy and try to calculate the exact percentage probability of each event. A simple fivepoint scale will be sufficient for most businesses. For example very unlikely quite.
What if one of our key employees became involved in a scandal Is there a chance of a major lawsuit against us from customers or other Job Function Email List businesses Do we have any effective ways of gauging public sentiment Do we have PR people or other staff who are capable of managing a crisis How would our business be affected by a mass of bad reviews or negative comments on social media Put It Together Asking these questions and more should help you identify some specific risks that your business is subject to. List those risks in simple point.
For example your list might include Key client XYZ Corp is late paying its invoice. Loss of power for more than 24 hours. Our Chief Operating Officer Janet leaves the company. A new competitor undercuts the price of our main product. Scathing product review from an influential magazinewebsite. Advertisement 2. Estimate the Likelihood For each risk youve identified ask yourself how likely it is to happen. Youre dealing with lots of unknown factors here of course so theres no need to strive for scientific accuracy and try to calculate the exact percentage probability of each event. A simple fivepoint scale will be sufficient for most businesses. For example very unlikely quite.