Saturday, October 13, 2012

How Business Risk Surveys Identify, Assess, Quantify and Enable Mitigation of Business Risks

Danger Internet surveys Provide a Clear Picture of Your Company's Risks:

Every organization encounters its own set of threats, some of which are known but not necessarily quantified or recognized, and others that are invisible. Danger testamonials are a highly cost-effective way to recognize and evaluate threats by collecting details, views and understanding from professionals across an organization.

Risk control surveys force professionals at all levels of the organization to think about a number of possible threats. Our risk research approach includes identifying threats by organization unit and place and for the organization overall.

Case Study - Illustrative Danger Minimization Survey Findings:

A organization risk research was recently performed for a U.S. customer items organization doing organization globally. The danger control research / risk mitigation research quantified risk chances and danger effect for over 75 specific threats. Almost 100% of Selected panel associates, mature and mid-level professionals attended the business risk research.

The chance of risk occurrences happening and the danger effect were evaluated independently using measurable risk machines. Feedback and recommendations were also obtained for each described risk type.

Following are the top 10 threats with regards to risk chances and danger effect respectively:

Risk Likelihood - Top 10 Risks

1 - New Item Development/Salability Risk

2 - Opponent Risk

3 - Potential Risk

4 - Client Focus Risk

5 - Investment Price Risk

6 - Costs Risk

7 - Revenue Risk

8 - Procured Item Focus Risk

9 - International Return Risk

10 - Marketing Risk

Risk Impact – Top 10 Risks

1 - Potential Risk

2 - Revenue Risk

3 - New Item Development/Salability Risk

4 - Economic Recession Risk

5 - Client Focus Risk

6 - Partnership Risk

7 - Business Disruption Risk

8 - International Return Risk

9 - Procured Item Focus Risk

10 - Governmental Risk

Risk research comments explain the threats. Danger surveys allow companies to recognize and evaluate threats, providing a structure for handling and showing priority for risk mitigation projects.

Risk Survey Payback:

Risk control surveys price only a few thousand money to perform, with no interruption to your organization. Based on your organization's industry, size, location(s) and other factors, Quantisoft's risk research conclusions can allow better, informed choices that decrease threats by huge amount of money.

Illustrative Danger Survey Comments:

Following are illustrative comments selected from well over 1,000 comments and recommendations obtained from professionals and Selected panel associates in this risk research. Content demonstrate some of the types of threats determined and the importance and possible effect of risk incidents:

• PC's and systems are so slow. It is really harming efficiency and our ability to reply to clients.

• I believe we're already seeing customer assistance risk with the reduction of resources in our customer assistance center during our most crucial season. We will not maintain clients by having them delay for basically hours on the phone to speak to a client support rep or delay a week to 10 days to get a reaction returning to an email!

• Given that +30% of our organization is transacted with ________, this is constantly a significant risk as they may select to create a plr option as a 100% replacement, or substitute us with another labeled competitor that is providing better pricing, product providing, trade financing, etc.

• The way we are currently taking "confidential" details out from the organization is not managed and is dangerous - notebooks without security.

Suppliers come and go to any place inside organization - must have zoning system.

• In production viewpoint, most of us will try to "hide" the true top quality situation just for the benefit of a "good" review. If a review is shown as 98% generate which it is actually at 90%, the 8% will definitely lead (mislead) to a bad decision.

• Our data has been doubtful leading us to believe we are taking a reduction on some parts of our production process

• Consumer Habits - do we fully appreciate the move away from TV/Magazines to Social Social networking (Facebook, Tweets, You Pipe,..) as a source of details that impacts customer buys for certain customer groups???

• Costs are based upon on industry predictions and not on the risk tests. I hope that with this focus on risk evaluation, we include the results of this research in our annual/strategic ideal organization programs.

• Small providers will not do organization @ net 60 terms

• Procured items are almost 100% Chinese suppliers centered. Should look at alternative country seeking and have plan to change over if needed.

• 2 key accounts, WM & Target have reduced space season over season and brought in ____________. Their programs with our organization are constant but the risk is possible that they remove our labeled product and substitute with their plr manufacturers.

• We keep build organization with providers that keep let you down. We need to create a policy that helps our providers grow with us or reduces total organization reduction if a provider isn't able.

• All _______ is made at one site. Adding capability at another place would significantly decrease this risk.

• Little exposure in identifying if foreign workplaces have excellent procedures in place to ensure conformity with all rules.

• As we keep pull price and top quality out of our items to hit edges, there is a that customers reduce trust on our items from a top quality viewpoint. Need to constantly work with top quality requirements and reliable providers.

• Concerned about the protection [or lack thereof] at the _________ service - minimum salary outsourcing protection, ancient or no protection systems, cameras etc, no focused internal protection contact. Continuous problems that could greatly effect our success.

• The danger is that too many information are maintained leading to increased risk in any sort of responsibility claim. Currently, no information retention/disposal procedure prevails. In danger with paper and electronic records.

• Our former provider ________ has been circulating our goods badly. We experienced legalities last season that could possibly happen again.

• In my efficient place, incomes are 30% below industry comps, which requires "settling" for the best applicant that we can afford, yet the purpose is to constantly update our ability.

• We still have some people in upper control who select to manage by worry. That will result in the decrease in respected workers.

• No returning ups for production & hence greater threats to the most expensive resources of our organization.

• We are too soft with protection in production and submission facilities

• We have been near or at ability to several years on _______ and ________. Many second and third level clients have been maintained badly over that period of time. I expect we will reduce organization at these clients if our inadequate assistance carries on.

• Chinese suppliers centered providers have the prospective of going broke - we do not have a excellent tool to see their financial stability

• We do not have adequate problems restoration programs for our features in the US or offshore and we do not understand the determination of our crucial suppliers

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