Red Tape Busters Volume 8, Issue 07, `Deal with risk’
Welcome to the April edition of Crab Insight
As lockdown eases we need to move forward with our businesses and identify opportunities for growth or at least to get back to where we were before lockdown.
Beware though every opportunity carries with it some degree of risk.
So, Claudia Crabs focus this month is dealing with risk. It’s important not to lose perspective, don’t sweat the small stuff and ignore the real show stoppers.
HR management, health and safety management and data protection can all be problematical in their own ways. If you need some practical help please do take a look at some of our solutions:
Claudia Crab’s April Focus
“Deal with risk”
““Opportunities pass by frequently, but people don’t always see them. Taking risks grants you an invisible set of glasses that reveal the many opportunities which surround you.” ―n With An Affliction
A good starting point is a SWAT. In this way, both internal and external factors are identified, remember weaknesses are best thought of as areas for improvement. If you find your self struggling with external factors try using the acronym PESTEL. This will help you think about the opportunities and threats likely to develop. The use of a SWAT Matrix helps you identify where:
strengths play to opportunities or reduce threats
weaknesses hold you back or exacerbate threats
Once the major areas are identified you can carry out a risk assessment in a systematic way. The key is to unpick how you can reduce the likelihood of a high-risk occurrence happening and, or reduce the damage done to the business if it does happen. That way you will be taking responsibility for your businesses strategy by proactively managing risks. You will also be in a better position to deal with issues that crop up as they should not come as a surprise. This follows Crimson Crabs strapline:
Ethical | legal | Responsible
So this month we are asking the question:
Does your strategy take account of business risks?
Friday 14 May 2021
12 noon to 2 pm
WE ARE LIMITED TO 100 PLACES
TO AVOID DISSAPOINTMENT