Risk in its most simple of forms is about contemplation of uncertainty and the impact on the achievement of business objectives. Let us assume that the business has considered and formulated a strategy, and subsequently developed a business plan that works toward the activities within that plan.
Risk is about consideration of what could impact on the achievement of the business objectives. Typically, risk is considered in three contexts: strategic, financial and operational.
Through simplified risk management processes and easy to use tools, Ballara Business Consultancy will work with you to identify the types of risks that are relevant to your business. From there we advise you on the likelihood and consequences of those risks – what would be the impact on your business if the risk event actually occurred. Finally,what treatments can be considered to mitigate the identified risks. These treatments might be serious enough to require consideration of insurance coverage, whilst other risks might more requite ongoing consideration and monitoring.
Ballara Business Consultancy understands that the business environment changes, and therefore so too do the potential risks. Our risk management tools therefore are simple enough to identify the existing risks, and are dynamic enough to regularly review and update.
Have you considered what legislation and / or regulations apply to your business, including the complexity of prevailing workplace health and safety regulation? If you are a not for profit or charity, have you considered what aspects of Commonwealth law are now applicable, and how you manage compliance.
The fact is that there are many aspects to compliance, and failing to comply can be an expensive and time consuming vulnerability for your business.
Ballara Business Consultancy Canberra has experience in developing compliance frameworks that assist in ensuring that your business is both aware of and responsive to compliance requirements. This includes developing any requisite suite of policies and procedures.