Reduced risk
Business risk is everywhere — geopolitical crises, climate change, economic fluctuations, global pandemics, cyberattacks, emerging competitors, new technologies and cultural shifts. But organisations face internal risks too, from malicious employees and unintended mistakes, to poorly executed decisions and technology failings. It is impossible to avoid risk. But smart organisations put measures in place to identify, manage and eliminate risk as much as possible.
The benefits of good risk management means fewer financial losses, reduced reputation damage, improved planning, productivity and decision making, and demonstrates strong leadership.