Identifying risk and solution measures for businesses

[nasiusman95]

How to Identify Business Risks. Analyze the sources that may trigger problems. It is important to identify and analyze the sources that can cause a problem. Act now. Involve employees. Make a list of industry-specific risks. Create a record of risks. Strategic risk. Compliance risk. Financial risk

 

[Adesuwa]

When you want to start a business the first thing you need to know is the identification of risks and solution to the problems.
The first risk is when you are losing in a business the solution to the problems is by settling down and build up again.

 

[solomonmali]

We work in tandem with your staff, saving you time, resources, and cost, to cover workload variability, meet regulatory filing pressures, accelerate model adoption, and explore new areas of risk. It’s a complete risk modeling operation at your disposal, whenever you need it.

 

[Victor001]

Every business is prone to risk in one way or the other, no business is risk free, been alert to deviate this risk is very important in business as this will curb away losses in the present and the future. Always put out successful plan to tackle risks of any kind.

 

[Layefa94]

What is folding or making many businesses to collapse today is the failure to identify on Time the likely treat that could stop the Free and continuous running of the business, this is the concept of risk management, every business owner must be a risk manager

 

[chommyluv]

It is knowledgeable enough for businesses to plan well before starting up a business. This planning should include risk taking as well as failures.

If these key ideas are thoroughly ironed out, providing solutions when problems arise will be quick on spot.

Do you believe these should be included in every business plan?

Of course, if one fail to plan then he plan to fail. Every business is full of risks but been abreast with many risks business may likely to fall into and propounding solution to such may help curtail it occurrence and even when it occurs, one can stand to his feet soon enough.

 

[KvngMurphy]

Risk identified in a business can be managed by first creating a risk management plan which should always be able to prioritize risks/threats. You can do so by using a somewhat universal scale based on risks/threats that are: Very likely to occur, Some chance of occurrence, Small chance of occurrence,l and a Very little chance of occurrence.
secondly through Limit Liability if you’re a sole proprietor, limit your liability by changing to a corporation or limited liability company (LLC). In this type of structure, the owner of the business is not held personally liable for the company's debts or other liabilities and finally, implement a Quality Assurance Program as a good reputation is imperative if you want a sustainable business. Customer service is key to success. Be sure to test your products and services in order to assure the highest quality.

 

[MarieArie]

You speak as an expert who have been in business for a long time. Knowledge about business is what we need the most, for me i know that knowledge is greater than money. When we have good knowledge and the right skill about business definitely we will succeed.

All organizations have access to an extensive information base - whether this is their awareness of the demands of clients and the economic climate or the expertise and experience of workers. Knowledge is key!

 

[Caali]

Measurements are numbers relating to actual real things. Risk is an unknown especially in business and cannot be measured. It can be assessed or estimated with a margin of error that reflects the experience of the assessor..

 

[Mahnoor]

Business risk refers to a threat to the company’s ability to achieve its financial goals. In business, risk means that a company’s or an organization’s plans may not turn out as originally planned or that it may not meet its target or achieve its goals.

 

[MarieArie]

Measurements are numbers relating to actual real things. Risk is an unknown especially in business and cannot be measured. It can be assessed or estimated with a margin of error that reflects the experience of the assessor..

The meaning of risk control must not be told to any professional; any company would have risks that need to be handled. Businesses in the finance sector, along with other firms in equally competitive and heavily regulated markets, are more concerned about risk.

 

[mubinadaddy]

When you get to know the risk involve before planning for a business startup it will be a surprise thing for you whenever you want to take risk of anything again but if you are not aware of the risk that's when you will be afraid.

 

[BlueNote]

Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company's ability to achieve its financial goals is considered a business risk. There are many factors that can converge to create business risk.

 

[GIFTMICHAEL]

All organizations have access to an extensive information base - whether this is their awareness of the demands of clients and the economic climate or the expertise and experience of workers. Knowledge is key!

Sure information is within reach and should be accessible, lack of information in any organization is one of the risk in business. Accumulating debts can also impose risk in a business. Sometimes what leads to debt is one trying to live above ones income.

 

[Damismiling]

The function of proper planning in business can not be over emphasized, you see a lot of business that fold up because the risks ahead have not been identified earlier, accessed and then proper solution given

 

[adazeez1995]

Yea. I agree with you. He who fails to plan plans to fail. An astute businessman should be prepare and brace up in case of any eventualities in the future. A good business man should also be proactive rather than reactive, and take calculated risks . As a good business man, you should be able to identify possible problems that would affect the business in the nearest future, and take quick and decisive steps before their occurrence.

 

[MarieArie]

Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company's ability to achieve its financial goals is considered a business risk. There are many factors that can converge to create business risk.

Not only financial risk but also other forms of risk that could be generated as a result of improper planning and the likes. It is often wise to put all these in check before making certain conclusions in businesses

 

[Adexgrace]

Business just as investment also Deals with taking risk but it is very important not to risk 100%. Investing a limited percentage is advisable and also very important.
And for solution for every plan A there must be prepared plan B for proferring solution.

 

[Veetos12]

It is knowledgeable enough for businesses to plan well before starting up a business. This planning should include risk taking as well as failures.

If these key ideas are thoroughly ironed out, providing solutions when problems arise will be quick on spot.

Do you believe these should be included in every business plan?

Of course, it is needed to facilitate the proper organization of the business. On this reason is why business feasibility study is important to clinically analyze possible challenges that might face the business and the solutions that can be adopted.

 

[Atif3786]

Analyze the sources that may trigger problems. It is important to identify and analyze the sources that can cause a problem. ...
Act now. ...
Involve employees. ...
Make a list of industry-specific risks.
Create a record of risks. ...
Strategic risk. ...
Compliance risk. ...
Financial risk.