Crab Insight April 2021

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

Claudia the Crimson Crab icon

“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.” ― Anas Hamshari, Businessma n With An Affliction

A good starting point is a SWAT. Strengths, weaknesses, Opportunities & Threats analysis 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. PESTEL, polictical, economic, social, technological, environmental and legalThe use of a SWAT Matrix helps you identify where:

strengths play to opportunities or reduce threats

weaknesses hold you back or exacerbate threats

SWOT Matrix Once the major areas are identified you can carry out a risk assessment in a systematic way. risk assessment 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? 

Look out for our social media posts and our blog later in the month as we will hopefully be able to flesh out your thinking.
Top tip – A great starting point is to understand some of the risks that your business faces and our Business MOT can help with this

F2 Business Huddle Online

Friday 14 May 2021

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Until next month look after your reputation!!

Ethical, legal, responsible trading wave
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