Redefine Risk Management with an Anticipatory Strategy
There is inherent risk associated with doing business, regardless of the industry you are in or your organization’s size. Risk brings common questions, such as “What if a new competitor arises who steals your customers away?” and “What if market conditions turn unsavory and your ROI suffers?”
These are the worries and wonderments that keep many business leaders up at night.
In light of recent challenges like the COVID-19 pandemic, the significance of risk management activities has become more pronounced. Organizations are reassessing their practices to better navigate these uncertainties.
The fact of the matter is that staying ahead of competition comes with taking risks. Of those risks, some of the most profound innovations always emerge. This makes taking risks a necessary evil of sorts, as staying stagnant and comfortable where you are at allows your competition to leap ahead by miles. Staying firmly rooted where you are will keep you there!
Suddenly, those questions that risk avoidance presents you become very real.
