The Complete Guide to Business Risk Management

The Complete Guide to Business Risk Management


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Risk management and contingency planning has really come to the fore since the first edition this book was originally published. Computer failure, fire, fraud, robbery, accident, environmental, damage, new regulations – business is constantly under threat. But how do you determine which are the most important dangers for your business? What can you do to lessen the chances of their happening – and minimize the impact if they do happen?


    ISBN: 9780566086618
    Edition: 2nd

    This book is the recommended reading for 'Core: managing risks in supply chains' (AD2). 

    In this comprehensive volume Kit Sadgrove shows how you can identify – and control – the relevant threats and ensure that your company will survive. He begins by asking ‘What is risk?’, ‘How do we assess it?’ and ‘How can it be managed?’ He goes on to examine in detail the key danger areas including finance, product quality, health and safety, security and the environment. With case studies, self-assessment exercises and checklists, each chapter looks systematically at what is involved and enables you to draw up action plans that could, for example, provide a defence in law or reduce your insurance premium.

    The new edition reflects the changes in the global environment, the new risks that have emerged and the effect of macroeconomic factors on business profitability and success. The author has also included a brand new set of case studies to illustrate his ideas in practice.


    Risk Management: A Powerful Tool

    History of risk management 
    Risk management standards 
    What are business risks? 
    What kinds of organisations are affected? 
    Risk management terms 
    Which risks are important? 
    The dangers of uncontrolled risk 
    Is risk management relevant to your organisation? 
    The benefits of managing risk 
    Why risk management is growing in importance 
    Risk management lacks maturity 
    How much risk is acceptable? 
    Comparable risk and reward 
    How much should be spent on risk management? 
    Steps to take 
    Useful links

    Defining and Assessing Risk

    Define the ‘revenue drivers’ 
    Key success factors 
    The four types of risk 
    Strategic risk 
    Operational risk 
    The four steps in assessing risk 
    How likely is the risk? How severe would its impact be? 
    Doing the assessment 
    Simpler assessments 
    Gathering the information 
    Useful links

    Managing Corporate Risk

    Getting corporate strategy right 
    Responsibility for risk management 
    Responsible for risk assessment 
    Training people to be aware of risk and to reduce error 
    Risk management qualifications 
    Devolving responsibility and a culture of openness 
    Avoiding group think 
    Manage the process Spread the risk 
    Monitor the risk 
    Setting a risk management budget 
    Using risk management consultants 
    Useful links 
    Risk assessment – risk organisation

    Product and Service Problems: Operations and Production Risk

    The consequences of mundane failures 
    Catastrophic failure 
    Product liability in Europe 
    Service failings 
    Financial risk for government bodies 
    How to achieve reliability and consistency 
    Using a management system to control your risks 
    How to achieve reliability and consistency 
    Using a management system to control your risks 
    People, technology and design 
    Useful links 
    Risk assessment – operations and production

    Purchasing Problems

    Supplies risk 
    Useful links 
    Risk assessment – purchasing

    Managing Health and Safety

    The real cost of accidents 
    Corporate risks in health and safety 
    Risk assessment in health and safety 
    Minimising the risks 
    Workplace hazards 
    Safe systems of work 
    Useful links 
    Risk assessment – health and safety

    Preventing Environmental Damage

    The seven penalties of environmental damage 
    Eight ways to pollute 
    Eight changes that will create environmental risk for some businesses – and opportunities for others 
    Does being green give a company and advantage? 
    Strategies for reducing environmental risk 
    Supplier assessment 
    Is environmental conformance a threat? 
    Animal rights 
    Useful links 
    Risk assessment – environment

    Protecting Against Fire

    Fire as a commercial risk 
    Designing a fire risk strategy 
    Minimising the effects of fire 
    Useful links 
    Risk assessment – fire

    Maintaining Security

    What are security risks and what damage can they cause? 
    Conducting a security review 
    Natural threats to buildings 
    Public events 
    Retail security 
    Safeguarding intellectual property 
    Kidnap and Ransom 
    Murder and Execution 
    International security 
    High –risk regions for foreign businesses 
    Security services 
    Useful links 
    Risk assessment-security

    Pre-empting Fraud

    The scale of the problem 
    Why fraud takes place 
    Who commits fraud? 
    How fraud happens 
    Types of fraud 
    The indicators of fraud 
    Vulnerability analysis 
    Preventing fraud 
    How to minimise fraud 
    What to do on discovering fraud 
    What companies do to prevent and report fraud 
    Useful links 
    Risk assessment – fraud

    Staying Financially Healthy

    Pre-empting financial risk 
    Seven ways to reduce financial risk 
    The need for healthy margins 
    Cutting overheads 
    Reducing production or operating cost 
    Unprofitable prices 
    Bad debt 
    Excessive borrowing 
    Selling or closing part of the business 
    Overseas investment 
    Financial management 
    What to do if a cash crisis happens 
    Reporting adverse results 
    Responding to a takeover bid 
    Reporting risk in financial accounts 
    How likely is the business to go bankrupt? 
    Useful links 
    Risk assessment – finance

    Avoiding IT Disaster

    How prevalent is computer failure? 
    How serious is data loss? 
    What causes computer failure and data loss? 
    How easy is recovery? 
    The problems caused 
    The six main types of IT risk 
    Avoiding theft 
    Protecting the system against unauthorized access 
    How to avoid infection 
    Minimizing the effects of hardware failures and user error 
    Minimizing the effects of losing data 
    Software piracy 
    Setting a policy 
    Contingency planning 
    BS EN ISO 17799 
    Outsourcing IT 
    Useful links 
    Risk assessment – IT

    Liability, Legal Risks and Intellectual Property

    Regulatory controls 
    Non-executive directors 
    Intellectual property 
    The legal risks of email 
    Useful links 
    Risk assessment – legal risks

    Market Leadership through risk Management

    Strategic marketing vision 
    Being in the right market 
    The causes of marketing failure 
    Problems caused buy government policies 
    Problems caused by changes in the market 
    Problems caused by price wars 
    International market failure – weak product performance 
    Poor promotion 
    Branding problems 
    Effective innovation 
    Over-reliance on a few customers 
    Distribution failures 
    Superior performance 
    Loss of corporate reputation 
    Focus on the customer 
    Useful links 
    Risk assessment-marketing

    People Risks and Corporate Ethics

    Quality of the board 
    Managing succession 
    Key Worker risks 
    Managing people 
    Stress and bad healthcare 
    Industrial relations and disputes 
    Useful links 
    Risk assessment – people and ethics

    Contingency Planning, Crisis Management and Business Continuity

    Sources of crisis 
    Slow-burn versus sudden catastrophe 
    The causes: management or the unexpected? 
    Crisis by Industry 
    Taking steps to prevent a crisis 
    Forecasting and scenario planning 
    How to prepare an emergency plan 
    How a crisis develops 
    Dealing with disaster 
    How to handle the media 
    Re-starting the business: after the crisis 
    Useful links 
    Risk assessment – business continuity

    Introducing a Risk Management System

    What is a management system? 
    Benefits of a risk management system 
    Disadvantages of a risk management system 
    Accounting for the unexpected 
    Assessing risk 
    Origins of the standards 
    A review of the major risk management systems 
    A plethora of standards 
    Useful links

    Minimising Risk in Major Projects

    Nine steps for managing project risk 
    Risk/reward contracts 
    Risk in IT projects 
    Useful links

    What Risks will the Future Bring?

    Linear change 
    Cyclical change 
    Major socio-economic changes 
    Political change 
    Social change 
    Forecast job growth and decline 
    Technological changes 
    Climate and weather risks 
    Useful links 

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